GridInChannel is an Expert Advisor for grid trading inside a channel which is manually plotted using active visual control panel
Common Features of the EA Operation:
The Ea places a grid according to the specified parameters. It trades inside the channel which is manually plotted using a trend line. The channel width is customizable. Order grid opens in the direction of the preset channel when the price is inside the channel and the "start/stop trade" button is pressed. If the price goes beyond the channel, the channel is removed and new grid placement is not allowed. The EA keeps opening trades only within the current grid. After all orders are closed, the EA does not take any actions, until a trader sets new trend channel. The EA is tested and ready to be used. It does not have any bugs.
Parameters of the EA:
- CannelWidth - width of the channel, can also be adjusted via the visual panel
- HeightPannel - height of the visual panel towards the upper left corner
- FirstLot - size of the first order in the grid. Used if the autolot mode is disabled
- LotExponent - multiplier for the next grid order
- TakeGridProfit - common take profit of the grid in points from the breakeven level
- Magic - unique magic number of the EA's orders
- slippage - allowed slippage in points when opening orders
- trailing - trailing mode. If the mode is set to true, the EA will trail the first grid order provided that other grid orders are not activated. When the first order moves to breakeven in virtue of trailing, and if the price is within the active channel, a new grid is placed and the previous order keeps to be trailed. Trailing sixe is the same as TakeGridProfit. You can also activate/deactivate the mode using the visual control panel.
- scalping - scalping mode. If the mode is set to true, the EA will scalp the first grid order provided that other grid orders are not activated. That means that the EA will close the first order in a number of bar which is not less than the value specified in ScalpingBars providing that the order has a positive profit. You can also activate/deactivate the mode using the visual control panel.
- ScalpingBars - number of bars to close the order if it has a positive profit and the scalping mode is enabled
- autolot - if set to true, automated money management is enabled
- NeedPips - approximate number of points to move to breakeven which the grid must sustain (taken into account if the autolot mode is enabled)
- Risk - percentage of equity to take into account when calculating a lot in the autolot mode
- StepGrid - initial step of the grid, can also be adjusted via the visual panel
- StepExponent - grid step multiplier, can also be adjusted via the visual panel
- MaxLimit - number of orders in the grid, can also be adjusted via the visual panel
- ScreenNewGrid - mode of taking a screenshot when a new grid is placed, files are saved in the folder …files/GridInChannel/Trading symbol
- StopOnTime - limitation of trading by time
- GridStopTime - if the local time exceeds this specified value, the EA will not place a new grid when the StopOnTime mode is enabled
- Cleaning - if set to true, the EA will hold the button allowing trading when the price goes beyond the channel above or below the specified price
- Zeroing - if set to true, when the price goes beyond the channel above or below the specified price, the EA will remove the channel, and the trend line will stay above the price in the form of a green horizontal line
- E-mail alerts - email notification about the price going beyond the channel or placing a new grid
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