All Grid Hero back tests are performed under the following conditions:
- 13 Years of Real Tick Data (99.90% Modelling Quality)
- Real Variable Spread
- $7 Round Trip Commission Per Standard Lot
- Simulated Execution Delay Slippage of 200~300ms
- Using Birt's Tick Data Suite (Licensed copy)
1) Select Symbol: "EURUSD"
2) Select Period: "H1"
3) Select Model: "Every Tick"
4) For Spread: Set "15" (points) for standard MT4 tester, or set "Variable" if you're using Birt's Tick Data Suite
5) Under Expert Properties >> Testing tab, set "Initial Deposit" to $3000 USD (minimum recommended amount)
6) Use default EA settings for Conservative Risk performance (Auto Lot Sizing disabled)
7) Or enable Auto Lot Sizing by applying the Auto Lot Set files according to your risk appetite (Auto Lot Risk Levels: Standard/Medium/High). You can download the Set files from the "Comments" section or FAQ.
8) Start your Back Test as far back as from 2004 if you wish
Grid Hero EA Live Usage Instructions:
1) Simply drag and drop Grid Hero EA onto the EURUSD H1 chart
2) In the EA menu, input your broker's GMT Offset value for Winter (check with your broker if you're unsure)*
3) Leave all other EA settings as default. Or Enable Auto Lot Sizing by applying the attached Standard/Medium/High Risk Set file
*Note: The default value of the GMT Offset for Winter is set to 2 in the EA, which matches most brokers.
Version 9 New feature: Pips distance needed to close Grid
In Version 9, this new feature has been added to display the pips distance required for the Grid basket to be closed out with a minimum profit.
In another word, it lets you know the distance in pips that the price needs to move in your favor in order for the Grid basket to be closed out with a minimum profit.
This info is displayed on the Grid Hero Panel (if enabled), as well as the Expert log tab of your MT4 terminal.
One thing worth noting is that there is a difference between the pips distance value displayed on the Grid Hero Panel, and the value displayed in the Expert tab.
The other thing to note is that this value is an estimated value, hence it is not 100% accurate but good enough as a rough gauge.
Pips Distance value on Grid Hero Panel:
On the Grid Hero Panel, the pips distance is computed on real time as the value is recalculated on every tick when the price changes. Basically the pips distance value will always be changing and reflecting the latest.
So taking the below display panel screenshot for example, you can see from the display panel that there was a bunch of grid orders that were opened at that point of time, and the price will need to move at least 27 pips in your favor in order for the whole Grid basket to be closed with a minimum profit. This value gets updated on every tick.
Pips Distance value in MT4 Expert tab:
Whereas for the pips distance value displayed in the MT4 Expert tab, the value will only be displayed in the Expert tab whenever a new Grid order is being placed. And the value reflects the pips distance at that point of time when the new Grid order is being placed.
Basically the purpose of showing this value is to give you a rough expectation of the condition needed for the existing Grid basket to be closed, instead of just guessing.
And do note again that this value is an estimated value, not a 100% accuracy but good enough as a gauge.
So hope you have a better picture now on how this new feature works.
By the way, just want to remind everybody that display panel usually takes up resources, hence if you don't need it then please leave it as disabled.