Grid Trading
-
Hi Everyone,
i want to build an EA that has a pending buy and sell order in a grid format spaced 100 pips apart across the chart. i then want the buy and sell orders at that price level to only become active again and place another trade once its take profit or stop loss has been hit. i only wish for one trade to be open in either direction from each price level at any given time until the SL or TP activate as to avoid multiple trades opening in a side ways market. any ideas? @fxdreema
-
@ashley111 Do you have any initial fxDreema project to begin with?
-
i don't unfortunately as i'm not entirely sure where to start with this one. i've built a few others with limited success but they were only EA's that traded off of indicator conditions so simpler for me to do. would really appreciate any help you could give to set me in the right direction.
-
@ashley111 No problem. Let's begin. This is the structure you need to open the first buy and sell pending orders:
Please look at the offset distance on both blocks. This is how you get them being 100 apart fom each other.
Now I need some additional infor about that part saying you want more trades...at this exact open price?
-
@l-andorrà THANK YOU SO MUCH!
Basically, id like the chart to be split into a grid with both a buy and sell order at each level. so depending on where price is it will either need to be a buy stop/ sell limit order or a sell stop/ buy limit order. once the orders at that particular level are triggered, there should be no more trades placed from that level until either the take profit or stop loss are hit. the take profit will be 100 pips (so every time price reaches a new level on the grid a buy is closed and another buy opened or sell closed and sell opened). the stop loss would be 300 pips for all trades. does that make sense?
so if price is trending, it means that it will open a trade in both directions, one will win when it reaches the next level 100 pips away and the other (in the opposite direction) will remain open until the stop is hit or price reverses and hits the take profit. this is where its tricky because it means that some price levels will have an open trade in one direction so will only need to place the other one if price touches that level again.
its designed for the h4 chart. so to summarize, the buy and sell orders at each level only begin placing trades again once their stop loss or take profit are reached. SL 100 pip, TP 300 pip and they are placed every 100 pips across the entire chart (or at least 1000 pips away from current price in either direction. thanks again for taking the time to help me out with this. Very grateful.
-
@ashley111 Well, that is a very ambitious project to implement. Do you have any initial fxDreema project to begin with?
-
unfortunately no, as i said earlier on, ive made a few before and am testing quite a successful one on demo acount at the moment which is doing well but this project far exceeds my limited knowledge on fxdreema.
-
@ashley111 Ok. I will help you. However, me doing all the job is not the most efficient way for you to learn. :). Why don't you begin my a first try by using my suggestion and then we move on step by step?
