GRID TRADER w/HEDGE

[txfxtrader]

Here's an idea for a long grid with an optional hedge feature and a short grid would just be the opposite:

1.3500 - buy stop
1.3490 - buy stop
1.3480 - buy stop
1.3470 - buy stop
1.3460 - market buy order
1.3450 - buy limit
1.3440 - buy limit
1.3430 - buy limit
1.3430 - buy limit
1.3420 - sell stop
1.3410 - sell stop
1.3400 - sell stop
1.3390 - sell stop
1.3380 - sell stop
1.3370 - sell stop
1.3360 - sell stop
1.3350 - sell stop
1.3340 - sell stop
1.3330 - sell stop

Example of settings in the EA that would be entered by the user:
magic number: 1234 (specific only to these grid orders because more than one grid will be used at the same time)
long or short grid: long
lot size for each orders: .05
number of orders for buy stop/buy limit above & below 1st market order: 4
pip spacing for buy stop/buy limit: 10
pip distance to begin hedge from 1st market buy order: 40
number of sell stop orders: 10
pip spacing for sell stop: 10
replace buy stops above executed hedge positions: true or false
pip distance above executed hedge positions: 40
take profit in pips for all grid orders: 200
break even in pips if a buy limit order is executed: true or false
break even in pips: 5
emergency stop loss in pips for all grid orders: 200
restart grid in the same directions if take profit, break even, or stop loss is executed: true or false

Note: All pending orders are cancelled if take profit, break even, or stop loss is reached. Let me know if you have any questions. I would like to run a long & short grid at the same time. Thanks!

[jlcgarcia]

Hi,

[james666]

Hi Jta.. how is your other grid trading bot on that forum.. evolution i think its called? I hope you're not stealing ideas from here and incorporating it into your other bot which you sell to people for a monthly fee.

[txfxtrader]

I sure would appreciate if a coder could make this grid system into an EA. I believe there are pips to made with this.