Hello to all you "gridders" out there...I have tried Ikarus_4.75___flexATR_May_2023 and found out that the CCI indicator didn't work at all. So I've fixed it with the help of AI coding... and now it works. Also I have made a bunch of visual changes to make the entire chart more user friendly and easier to read. I've tried to display closed profits as text labels in $/pips on the chart above the candles like in the "AW Recovery / AW Trend Predictor" or "EA Black Dragon" but I have failed to do so. Maybe a very good coder can do it? This version...
Free Grid EA Ikarus - From zero to hero
Hello Gridders,
I have built yet another new exciting feature into Flexy v2.1: It's called "Profit Reducing" which will reduce the take profit per X pips for each opened grid order.
So if let's say your take profit is set to 20.0 pips and your profit reducing is set to 2.0 pips, then after 5 orders your take profit will be just 10.0 pips... and after 10 orders (or more) it will be set to the minimum value of 1.0 pip.
This will close (loosing) grids in strong trends against the grid much faster, as only a short retracement is needed to close all orders. I've found this feature in the CAP Strategy Builder as well as in the AW Scalping Dynamics, which worked quite well with gridding.
So instead of increasing your lot multiplier to 2.0 with very high risk, now you can try the "Profit Reducing" feature to close grids faster, with significantly less risk.
I have built yet another new exciting feature into Flexy v2.1: It's called "Profit Reducing" which will reduce the take profit per X pips for each opened grid order.
So if let's say your take profit is set to 20.0 pips and your profit reducing is set to 2.0 pips, then after 5 orders your take profit will be just 10.0 pips... and after 10 orders (or more) it will be set to the minimum value of 1.0 pip.
This will close (loosing) grids in strong trends against the grid much faster, as only a short retracement is needed to close all orders. I've found this feature in the CAP Strategy Builder as well as in the AW Scalping Dynamics, which worked quite well with gridding.
So instead of increasing your lot multiplier to 2.0 with very high risk, now you can try the "Profit Reducing" feature to close grids faster, with significantly less risk.
Hi sanatan, I'm afraid that's not possible. But should be no problem. Just head over to the thread linked below on forex-station to pick your indicator. I think you will find everything you need over there. 
MT4 Indicators Threads List
https://forex-station.com/mt4-indica...-t8430755.html
Greetings,
Daniel
MT4 Indicators Threads List
https://forex-station.com/mt4-indica...-t8430755.html
Greetings,
Daniel
Hi sanatan, I'm afraid that's not possible. But should be no problem. Just head over to the thread linked below on forex-station to pick your indicator. I think you will find everything you need over there.
I will try to find it
- #2,390
- Feb 7, 2024 8:17pm Feb 7, 2024 8:17pm
- Joined Jul 2013 | Status: Trader | 5,472 Posts
Ronnie Renko
- #2,392
- Feb 7, 2024 8:40pm Feb 7, 2024 8:40pm
- Joined Jul 2013 | Status: Trader | 5,472 Posts
Thanks Daniel for your reply.
Poor wording with my post as I have been trading for 30+ years and never found a EA like these that work.....I was referring to the Dragon v2.1.
Thanks again ...I will fade away.
The Brokers most certainly would not like this
Best wishes
Ron
Poor wording with my post as I have been trading for 30+ years and never found a EA like these that work.....I was referring to the Dragon v2.1.
Thanks again ...I will fade away.
The Brokers most certainly would not like this
Best wishes
Ron
Ronnie Renko
Hi Ron,
I'm not sure what do you mean by "the broker won't like this". Could you explain further why the brokers would not allow grid trading?
Of course, if you have trades every minute or a trailing stop with a 1 point step... I understand. But if you trade for example on H1 charts and add max. every hour one more trade to your maximum 12 trades limited grid, I'm sure this would be no problem for the broker.
If you're going crazy with grid trading on M5 charts without any strategy/indicators and make your grid spacing 2pips tiny, I'm sure the broker would contact you sooner or later...
I think the main problem is to handle the big drawdowns caused by the grids, that's why we have to find ways to limit our risk by closing the grids asap. This could be done with "Partial Closing" where a retracement will be taken advantage of by closing the 1st and last grid orders. Now there is also the option of "Profit Reducing", which will also close the grid earlier by decreasing your initial take profit if more orders are opened.
I highly recommend to trade always with the main trend (200MA). To do so, you can use the Bollinger Bands with a 200 period (SMA) and 0.1 deviation. Then choose your favourite entry/trigger indicator... Maybe the inbuild RSI with a period of 3 and 90/10 ob/os levels? Or a donchian breakout (PTL) with a period of 3, 6, or 12? Just some ideas...
Happy trading,
Daniel
I'm not sure what do you mean by "the broker won't like this". Could you explain further why the brokers would not allow grid trading?
Of course, if you have trades every minute or a trailing stop with a 1 point step... I understand. But if you trade for example on H1 charts and add max. every hour one more trade to your maximum 12 trades limited grid, I'm sure this would be no problem for the broker.
If you're going crazy with grid trading on M5 charts without any strategy/indicators and make your grid spacing 2pips tiny, I'm sure the broker would contact you sooner or later...
I think the main problem is to handle the big drawdowns caused by the grids, that's why we have to find ways to limit our risk by closing the grids asap. This could be done with "Partial Closing" where a retracement will be taken advantage of by closing the 1st and last grid orders. Now there is also the option of "Profit Reducing", which will also close the grid earlier by decreasing your initial take profit if more orders are opened.
I highly recommend to trade always with the main trend (200MA). To do so, you can use the Bollinger Bands with a 200 period (SMA) and 0.1 deviation. Then choose your favourite entry/trigger indicator... Maybe the inbuild RSI with a period of 3 and 90/10 ob/os levels? Or a donchian breakout (PTL) with a period of 3, 6, or 12? Just some ideas...
Happy trading,
Daniel
- #2,394
- Feb 7, 2024 9:24pm Feb 7, 2024 9:24pm
- Joined Jul 2013 | Status: Trader | 5,472 Posts
Thanks Daniel.
I have it on a 1 hour chart and will look at it in more depth later when I have more time.
Gold is a wild animal and may not be the best pair to trade.
I will leave on default during the Asian session and turn off When NY arrives due to Red Flag news and high volatility..
I watch this thread from the Shadows
Cheers,
Ron
I have it on a 1 hour chart and will look at it in more depth later when I have more time.
Gold is a wild animal and may not be the best pair to trade.
I will leave on default during the Asian session and turn off When NY arrives due to Red Flag news and high volatility..
I watch this thread from the Shadows
Cheers,
Ron
Ronnie Renko
Thanks Daniel. I have it on a 1 hour chart and will look at it in more depth later when I have more time. Gold is a wild animal and may not be the best pair to trade. I will leave on default during the Asian session and turn off When NY arrives due to Red Flag news and high volatility.. I watch this thread from the Shadows
Try a combination with the inbuild Bollinger Bands, 200 period + 0.1 deviation. This will keep you always going WITH the trend. So a buy signal would be triggered, if price is below the BB200(0.1) and breaks out of the upper band of the smaller Bollinger Backs 2.0 and goes back again - if that makes sense?
You can also try "Exit other open orders" on opposite signal of the Bollinger Backs (as a stop loss). But always remember to turn off auto lot size, because after the exit it won't open anymore trades. So set your base lot size manually.
Greetings,
Daniel
- #2,397
- Feb 7, 2024 10:58pm Feb 7, 2024 10:58pm
- Joined Jul 2013 | Status: Trader | 5,472 Posts
Ronnie Renko