The EA was developed for the Forex market and offers a variety of setting options. It uses neither a TakeProfit nor a StopLoss and is therefore associated with increased risk.
Important Notice: When backtesting with Model "Open prices only", just do it on the M1-chart, cause the EA evaluates the open bar tick on M1-chart.
The input parameters are self-explanatory and you have to study them intensively to understand what the EA is doing. A few points in brief:
- User can set a Magic Number.
- User can set "SHORT_ONLY", "LONG_ONLY" and "SHORT_AND_LONG" (Useful when conducting parallel analysis of fundamental data).
- User can decide if using a fixed lotsize or a dynamic one.
- User can choose from a variety of entry points in different time frames.
- User can set "positive Swap Only"-Mode.
- EA will close all positions, when specified X percent of margin is reached.
- User must set maximum number of grid trades (1 to 10).
- User can specify all parameters of all indicators used.
- User can make use of a Fibonacci as a filter.
- User can decide which days of the week to trade.
- User must set the grid by specifying grid factors for each trade. Recommendation:
gridFactorTradeTwo = 2.0
gridFactorTradeThree = 8.0
gridFactorTradeFour = 16.0
gridFactorTradeFive = 32.0
gridFactorTradeSix = 64.0
gridFactorTradeSeven = 128.0
gridFactorTradeEight = 256.0
gridFactorTradeNine = 512.0
gridFactorTradeTen = 1024.0
- User must determine the risk for each individual grid trade by determining by what factor the lot size should be multiplied in relation to the initial trade. Recommendation:
XtimesLotSizeOneTradeTwo = 1.0
XtimesLotSizeOneTradeThree = 1.0
XtimesLotSizeOneTradeFour = 2.0
XtimesLotSizeOneTradeFive = 2.0
XtimesLotSizeOneTradeSix = 3.0
XtimesLotSizeOneTradeSeven = 3.0
XtimesLotSizeOneTradeEight = 4.0
XtimesLotSizeOneTradeNine = 4.0
XtimesLotSizeOneTradeTen = 5.0
