“4you Trading Robots”
USER MANUAL for “Grid Trapper”.
1. How to buy the EA
There is already a guide on buying MQL5 EAs, I suggest reading it if there are any questions about it.
2. How to attach EA to chart.
2.1. Just drag and drop the file to chart and make a smiley face.
2.2. Choose your Lot Sizing Method and turn on Info-panel.
2.3. The EA must be attached to AUDCAD, AUDNZD, NZDCAD TF M15 charts.
- Print Logs On Chart – on/off Info-panel;
- Short Name (In Comment Section) – appears in Journal or Account History in comment section;
- TF for trading (mandatory 15 Minutes);
- Bollinger Bands Period – period of BB used to calculate the upper/lower levels;
- RSI Period – period of RSI used to filtering out trades with small potential;
- Maximum RSI Value – value for the RSI filter;
- Take Profit for Initial Trade (points) – take profit for the initial trade (if no grid trades opened);
- Trade Distance (points) – min. step in points between grid (averaging) trades;
- Magic – identifier of trade position;
- Maximum Spread (points) – maximal allowed spread;
- Maximal Trades – max number of grid (averaging) trades;
- No more Initial Trades (only grids) – no more new Initial Trades, only grids;
- Symbols open same time – number of symbols opened in same time;
- *Lot Sizing Method – select the lot sizing method according to the risk you want to take;
- Fixed Lot – size of initial trade;
- Deposit load % – value for adjusting your own initial lot size.
*Lot Sizing Method
- Fixed Lot – will use always fixed lot on initial trade;
- Low Risk 20% annual – smart lot-size calculation based on account equity to get approximately 20% annual income;
- Mid Risk 40% annual – smart lot-size calculation based on account equity to get approximately 40% annual income;
- Significant Risk 80% annual – smart lot-size calculation based on account equity to get approximately 80% annual income;
- High Risk 120% annual – smart lot-size calculation based on account equity to get approximately 120% annual income;
- Maxed Risk – smart lot-size calculation based on account equity to get maximal annual income;
- Lots based on Deposit load % – lot-size based on account equity and margin requirement.
*All parameters are optimized and ready to use, just choose your Lot Sizing Method.
- Supported currency pairs: AUDCAD, AUDNZD, and NZDCAD;
- Timeframe: M15;
- The EA is sensitive to spread and slippage. I advise using a good ECN broker;
- The EA should run continuously;
- EA uses the adaptive lot-sizing calculation, but with low leverage (1:30 and lower) could be margin requirement problems on low equity accounts. As a solution, you can use Maxed Risk or Deposit load % method for adjusting your own initial lot size or increase account equity.