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Rules
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Specification
Please make sure you go through and understand the entire requirements before applying, thanks.
When the EA starts, a grid forms above and below the current price with distance equal to the "Grid Gap" parameter.
Entry Rules:
- When the current price hits a grid, a pending buy stop above and sell stop below is placed equally distant from the grid line.
- When a any pending order is hit, the EA removes the other pending order. Example: If the price hits a grid, a buy and sell stop is placed, if the price hits the sell stop, the buy stop is removed.
- Important: A grid can only have 1 set of pending orders open, even if the price goes back and forth through it, as long as no pending order is triggered, the EA will not place any more pending orders.
Exit Rules:
- When the price hits the next grid positive to the current open order. Example: If a buy stop is triggered and the next grid above is hit, the EA closes that order and since a grid is hit, the EA places a buy stop above and a sell stop below the current grid
- BY DEFAULT and if "Stop Loss" parameter is set to 0, any pending orders triggered will have their SL placed on the opposing pending order for that grid. Example: If a buy stop is triggered in a grid, the SL would be placed on where the sell stop would be and vice versa.
- When price hits SL
Parameters:
*Grid Gap
- This is the gap for the grid that the EA creates initially. Example: If this parameter is set to 10 and the EA is enabled, the EA creates a grid from the current price with distance equal to 10 pips. This grid is followed by the EA until it is turned off.
*Order Gap
- The gap between the pending orders and a grid line. Example: if set to 10, and the price hits a grid, the EA places a buy stop 10 pips above and a sell stop 10 pips below.
*Lot Size
- Trade lot sizing
*Stop Loss (0 = Disabled, in this case, the default stop loss is used, see Exit Rules above)
- Initial stop loss set for pending orders.
*Line Interaction Limit
- This is the number of times the EA will react to a grid when an order is closed and the price hits the same grid again. For example: If the price hits a grid, pending orders are placed, and then the price triggers the pending order but it pulls back and hits the SL, theres a chance it will hit the grid again, if it does, it will place another set of pending orders. This parameter limits the number of times it does that.
*Breakeven (0 = Disabled)
- This is the number of positive pips before the SL is moved to a certain number of pips according to BE Gap parameter.
*BE Gap (0 = Disabled)
- When Breakeven parameter is triggered, the SL is moved to a positive position equal to the value set in this parameter
*Trailing SL Trigger (0 = Disable)
- The number of positive pips to trigger Trailing SL.
*Trailing SL (0 = Disable)
- The number of pips that the SL will trail from the current price.