Gridder Expert Advisor For MT4
PLEASE NOTE: This expert advisor was publicly available for free usage on other websites and is not programmed by us. We explain the functionality and possible improvements of the EA. Furthermore, we are convinced that fully automatic Expert Advisors will fail in the long run. On the other hand, our semi-automatic approach with detecting the best setups and then activating our Expert Advisors (e.g. V-Power EA, EdgeZone EA) produced many successful traders and some of them even got prop traders at prop trading firms. Therefore, we added a similar semi-automatic trading feature (to allow only buy or only sell trades) to the free Expert Advisors. You can download the modified version here and enjoy!
The Gridder Expert Advisor For MT4 is a sophisticated algorithmic trading system for MT4 platform. Anyone with experience in using automated systems can immediately start using this robot in live trading with a caveat as it shows positive return in the strategy tester. The profit factor is greater than one, the expected payoff is greater than one, and the maximum drawdown is reasonable, which is 10.46% at the time of testing. The equity curve is steadily rising with only a few bumps along the way. Still the trader or investor must use it cautiously in real trading as trading always involves risk. Demo trading prior to putting real money on the line is recommended.
The Gridder is advanced for a grid martingale trading system. It can trade multiple pairs simultaneously while being applied to one chart. Once run, the robot clears the chart of any objects such as candlesticks and shows a table with a list of pairs being traded and a comment containing useful information about parameters and their current settings, such as total open orders, total volume, number of orders closed, profit or loss in past trades and number of pips gained or lost. Information so displayed gives the user an easy way to monitor open trades and understand the performance of the trading system since everything is provided in one location. This trading system is amazingly well designed.
The Gridder Expert Advisor For MT4 – Entry Criteria
In the image above, the Gridder immediately opened buy and sell orders the moment it is dropped on the chart. In this case, the robot opened trades not only in the current symbol but also in other pairs as the parameter for multiple pairs (Inputted_Pairs) is enabled by default. When that parameter is changed to Chart_Pair, the Gridder opened trades in the active pair only.
The robot performs all calculations in the background once in every candle of the timeframe chosen by the user. After checking the trading mode selected, the robot will determine if the magic number selection is static or dynamic. By default, a dynamic magic number is enabled. In this case the Gridder takes the account number and adds strings from other parameters to come up with a magic number.
By default, manual lot sizing is used in trading, with 0.01 being the initial lot size. Of course, the user has freedom to set the lot sizing method and the initial trade volume to the values of his choosing. As a grid martingale system, the Gridder does not take signals from any technical indicator or even from any sort of price action strategy in order to start trading. It only uses market values such as exchange rates and tick values in executing trades. Its behavior is dictated by the combination of parameters set by the user or enabled by default, including trading mode, opening new trades, lot sizing, closing open trades, trading schedule, expert advisor operation mode (by tick or by candle), and a whole lot more.
When all settings are set in place, the robot will execute a buy trade and a sell trade on the active symbol, using the Chart_Pair trading mode, at the open of a new candle. The two trades are separated by the amount of spread at the time of trade execution. Open trades have no stop loss and take profit orders. This is the whole process of trade generation. The actual action of trade execution is relatively shorter compared to the amount of time spent by the robot in checking the initial parameters and market values.
The Gridder Expert Advisor For MT4 – Exit Criteria
The Gridder Expert Advisor for MT4 actively monitors trades when they go live as they have no stop orders. Since two trades are executed at once, one trade is bound to be closed in profit while the other will remain negative. The winning trade will be closed at a distance determined by the robot. This distance is calculated by the robot using complex mathematical solutions. Checking the code gives a hint that the distance is a factor of the TargetCloseProfit (50) variable, initial trade volume and the prevailing tick value of the traded symbol.
The winning trade discussed in the foregoing is closed at the new candle. At the same time, a new trade of the same type as the winning trade will be opened. If the previously closed trade is a buy, the newly opened trade is also a buy trade with the same lot size as the previous trade. At the same instant, the market price is far enough from the old trade, sell in this example. Therefore, another sell trade will be executed at a trade volume twice as big as the first sell trade.
The scenario discussed in the previous paragraph repeats over and over again. Additional trades will be taken against the current market momentum if the market price is at a predetermined distance from the previous trade with accompanying higher trade volume. This distance is dynamic as it depends on the StepOpenNextOrders (50 default) variable, lot size of first trade, number of open trades of the same type, and the current tick value. The tick value is the value of one point in an exchange rate with five or three digits and takes into account the account currency and the active symbol.
At some point when multiple trades of the same type are open and the market trades in the direction of these orders, all trades open on the currently selected pair will be closed regardless of type. This means that all buy and sell trades are closed at once. Some trades are positive, others are negative, but the net result is positive. The robot takes this action not in real time, but at the open of a new candle. Also, the distance at which trades are closed together is determined by the robot and takes the initial lot size, number of open trades, TargetCloseProfit (50) variable and tick value into the equation.
The Gridder Expert Advisor For MT4 – Rooms for Improvement
The Gridder Expert Advisor for MT4 is indeed a sophisticated expert advisor. No wonder it yields positive results in the strategy tester. Complexity of the trading algorithm, though, is not a measure of trading system profitability. It is the concept or logic behind the trading system that matters. One possible reason for its profitability is the success with which it hides the distance when it opens and closes trades from the prying eyes of bad actors. The code is just too complicated to decipher this dynamic value.