Magic Grid is a grid Expert Advisor using no indicators. The strategy is based on the automatic re-opening of profitable orders placed with a certain step from the very beginning of the EA operation. The robot trades on any timeframe and symbol. It can also trade several symbols with any number of decimal places. It does not interfere with manual trading and other EAs’ operation. The robot works only with its own orders displaying all necessary data on them when needed.
The Magic Grid info panel provides effective control over the EA’s entire trading process in conjunction with the notification system. The panel allows you to check the claimed number of orders relative to their real market number. Depending on the situation, the EA provides a variety of reports on critical changes in its operation and errors. For example, it notifies of the number of restored orders in case some of them were triggered when the terminal was closed. It also alerts on exceeding the limit of maximum allowed orders, as well as on the fact that a pending order was not placed because of a price being too close, etc.
Besides, it often provides tips about what to do in a particular case.
The EA is not resource-consuming. All recalculations are performed only in the following cases:
- the EA has been restarted
- the EA settings have been changed
- symbol change
- timeframe change
- an order has been closed or a new one has appeared
Switching between timeframes can be used as a forced recalculation in case you have any doubts in the EA operation efficiency or you need to speed up any process, for example, if one of the pending orders is not placed at the very beginning because of a price being too close.
Settings
At first glance, the settings seem to be too numerous. However, they are quite simple and allow you to configure a grid with a required degree of flexibility.
- Buy First – initial price for buying (any value selected by a trader)
- Sell First – initial price for selling (any value selected by a trader)
- Quantity Buyup from Buy First – number of Buy orders up from the initial price (can be zero)
- Quantity Buydown from Buy First – number of Buy orders down from the initial price (can be zero)
- Quantity Sell UP from Sell First – number of Sell orders up from the initial price (can be zero)
- Quantity Spelldown from Sell First – number of Sell orders down from the initial price (can be zero)
- Step – grid step between same-type orders (in points of a selected pair)
- Take profit – take profit for each order of the EA (can be zero)
- Stop-loss – stop loss for each order of the EA (can be zero)
- Lot – lot size for each order of the EA
- Magic number – any figures allowing the EA to distinguish its own orders (should be changed if the EA is used on several pairs)
- Language – switching the EA language (English/Russian)
- Expert’s comment – user comment for each order
- Dashboard — display the info panel managing the amount of EA orders on the market
- Transparency of the dashboard – Dashboard transparency (better to disable if “Chart on foreground” is selected in the chart settings)
- Debugging – required for more detailed error report in the EA operation when necessary
Testing
When testing the EA in the strategy tester, consider the maximum number of orders allowed by a certain broker. If the value is exceeded, not a single order is placed!
All missed ticks reduce the EA efficiency since its operation is based on volatility. The lower the volatility, the lesser the probability to fix a potential profit.
More possibilities: See Elastic Grid… >>
NOTE:
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DISCLAIMER: Please read carefully before you decide to invest in Forex Market
- Forex Trading is dangerous and can result in a substantial loss of money. Due to the uncertain nature of the Forex market, there is no guarantee that our products will produce any favorable results. Before you purchase, please read our RISK DISCLAIMER.
BEAR THIS IN MIND: The Forex market changes from day to day, and that past performance can therefore not be guaranteed to repeat in the future. Past performance shown and in videos may use aggressive trading approaches and risk management to prove the potential of the Forex robot over long periods. Because of this, we recommend that you test the EA on your own broker account using many variations of currencies, time frames, and settings to make sure you experience favorable results in current market conditions before trading live accounts. - Forex Trading EA/Robot is just a piece of Programming to Sophisticate your trading but never guarantee your winning.
- Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. No representation is being made that any account will or is likely to achieve profits or losses similar to those that may be shown.
- Past performance is not indicative of future results. Individual results vary and no representation is made that clients will or are likely to achieve profits or incur losses comparable to those that may be shown.
- Before deciding to trade products, you should carefully consider your objectives, financial situation, needs, and level of experience. The possibility exists that you could sustain a loss of some or all your deposited funds and therefore, you should not speculate with capital that you cannot afford to lose.