ranged grid bot ea with pending orders
Info
The ranged grid bot ea with pending orders is a Expert Advisor for MetaTrader 4 that update: v1. 01 added magic number added control on symbol (it can be now attached to different charts on the same account) added time control for trading added an option to forcibly close all the trades after the end hour the ea creates a grid of equally spaced pending limit orders taking into account:- the current price; sell-limit above / buy-limit below- the trading range; computed by using the weekly highs and lowsthe ea then manages the orders while they have been executed.
Usage
This tool is typically used for automated trading on major forex pairs and gold.
Platform
This Expert Advisor works exclusively on MetaTrader 4 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL4/Experts folder via File ? Open Data Folder in MetaTrader 4.
How to Install and Use ranged grid bot ea with pending orders
1. Installation: Open the "File" menu, select "Open Data Folder," navigate to MQL/Experts, paste your file, and restart the terminal.
2. Activation: Drag the EA from the Navigator onto a chart, ensure "Allow live trading" is checked in the Common tab, and verify the AutoTrading button is green.
3. Optimization: Right-click your chart, choose "Expert List," click "Properties" to adjust inputs, and save your preferred setup as a set file for future use.
4. Maintenance: Regularly check the "Experts" tab in the terminal window to monitor trade logs and potential execution errors.
Frequently Asked Questions
Q: Why is my EA not opening trades? A: Check the "AutoTrading" button, ensure "Allow live trading" is enabled, and verify your broker allows automated trading on your account type.
Q: Can I run multiple EAs on one chart? A: No, each chart can only host one active EA; however, you can open multiple charts for different currency pairs to run several EAs.
Q: What does the "smiley face" icon mean? A: A smiley face in the top-right corner of the chart indicates the EA is successfully running; a frowny face means it is disabled.
What this tool does
update: v1.
Typical Use Case
This Expert Advisor excels in automated trading and technical analysis on MetaTrader 4.
Compatible Platform & Setup
This Expert Advisor works on MetaTrader 4. Place the file in the MQL4/Experts folder and restart the terminal.
Description & Settings
Related: moving average grid ea - another powerful expert for MetaTrader 4 traders.
update: v1.01
added magic number
added control on symbol (it can be now attached to different charts on the same account)
Also recommended: 204060 Program AI Grid System - similar expert with strong performance on MetaTrader 4.
added time control for trading
added an option to forcibly close all the trades after the end hour
the ea creates a grid of equally spaced pending limit orders taking into account:
- the current price; sell-limit above / buy-limit below
- the trading range; computed by using the weekly highs and lows
the ea then manages the orders while they have been executed.
the logic is:
if #executed orders == 2open new limit at the pen. price
if #executed orders > tot - 2reset the limit orders to range
- check the video for the full strategy
You may also like: grid - excellent alternative for expert users on MetaTrader 4.
Source Code
#property copyright "RobotFX"
#property link "https://robotfx.org"
#property version "1.01"
#property strict
#define VER "1.01"
input int MAGICMA = 3937; // Magic Number; a unique number to assign to the orders
input int startTrade = 0; // Trade Start Time; Do not trade before this hour
input int endTrade = 24; // Trade End Time; Do not trade after this hour
input bool closeAllAtEndTrade = true; // Close all trades and orders after Trade End Time despite profit
input int maxOpenOrders = 5; // Adjust this to your broker's maximum orders limit.......
⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.