Looking for a bidirectional grid (range trading market) | Forex Factory

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Looking for a bidirectional grid (range trading market)

  • #1
  • First Post: Jul 5, 2015 2:30pm Jul 5, 2015 2:30pm
I'm looking for, without success, a EA that builds a simple grid that places buy stop and sell limit, buy limit and sell stop orders and reopens them continuously to the same values when TP of each order will be hit (not the whole basket). It should be a bidirectional grid.
Without martingale or otherwise deselectable.
I'm looking for weeks now and could not find anything ... some come close but not exactly as I would like ... it seems impossible.
Can you tell me if there is any EA with these features, preferably in mql then not compiled?
Thanks
  • #2
  • Jul 10, 2015 5:15pm Jul 10, 2015 5:15pm
Maybe a picture can help.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDM1.png Size: 24 KB
  • #3
  • Jul 10, 2015 6:38pm Jul 10, 2015 6:38pm
Quoting xnowx
I'm looking for, without success, a EA that builds a simple grid that places buy stop and sell limit, buy limit and sell stop orders and reopens them continuously to the same values when TP of each order will be hit (not the whole basket). It should be a bidirectional grid. Without martingale or otherwise deselectable. I'm looking for weeks now and could not find anything ... some come close but not exactly as I would like ... it seems impossible. Can you tell me if there is any EA with these features, preferably in mql then not compiled? Thanks...
Hello xnowx, here are some link I do not know have you seen already, if not please try may help you.

http://www.forexfactory.com/showthread.php?t=416163
https://www.mql5.com/en/code/10832
http://www.forexfactory.com/showthread.php?p=6910789
http://www.forexfactory.com/showthread.php?t=193727
http://www.forexfactory.com/showthre...48#post7605448
http://www.forexfactory.com/showthread.php?t=529842

Regards,
Moti
  • #4
  • Jul 12, 2015 7:31am Jul 12, 2015 7:31am
Thanks Motiram, I really appreciated your help.
I'll check!
  • #5
  • Jul 12, 2015 12:30pm Jul 12, 2015 12:30pm
Quoting bolsistico
{quote} what i'm looking for this strategic to use both orders, it's to reduce el dd to minimum, such a way, that a order counteract to the other, it's evident that result will be smaller than the normal strategy but i hope to get a robust ea, what do you think?
Forget to say, in trapping grid discussion, that the Stop mode grid is out of the range where Limit mode grid is active.
So, if in range, Limit orders works. If Breakout , go with the Stop Order and follow the trend.
All that using using ardyto.ardi grid that's a very good grid but has other workflow than the one I have in mind
I need 1 EA and, more important to me, as I explained in the first post of this discussion order must be closed with proper TP.

Imagine a 40 pip range that stay in range for 1 month (my god.... ) . If you use ardyto grid in Limit mode, your profit, in some case, may remain locked for long time before the cycle will close because you need that more levels must be triggered at different levels.

Instead, place buy and stop orders on every level, no SL, little TP, when the order is triggered close order at small TP, than recreate at same level, than reclose, than recrate... The market is ranging, you have a lot pips because you are following the small variations of the price on smaller timeframe. It's like a scalper.

For every grid you know exactly what's the maximum risk if price breaks the range. In the picture above, if the market goes up you can have 5 losing positions short at max ( no martingale here please). So if the market breaks the range we can choose if close with loss, hedge a part or all the positions, or go with Stop orders and follow the breaks.

Looked at Motiram links too (thank you again) but none are what i want.
The search continues...
  • #6
  • Jul 12, 2015 1:52pm Jul 12, 2015 1:52pm
Quoting xnowx
{quote} Forget to say, in trapping grid discussion, that the Stop mode grid is out of the range where Limit mode grid is active. So, if in range, Limit orders works. If Breakout , go with the Stop Order and follow the trend. All that using using ardyto.ardi grid that's a very good grid but has other workflow than the one I have in mind I need 1 EA and, more important to me, as I explained in the first post of this discussion order must be closed with proper TP. Imagine a 40 pip range that stay in range for 1 month (my god.... ) . If you use ardyto...
In theory it all sounds very nice but unfortunately strategies like these are very, very hard to put into practise in real live markets. Keep in mind the "ask" price may very well trigger your buy stops at the worst price possible, while your sell limit is not triggered. A "maximum risk" cannot be measured considering spreads and slippage. Your best bet would be to either add an additional spread filter(but keep in mind a spread filter might not work if your order is already triggered by spread; it only works if your grids are far, far away from current price).

A 2nd solution would be to work with buy/sell trigger lines (open a buy or sell market order when "x" price level has been touched), then do not activate this market order under certain market conditions/slippage)

Anyway, the EA that you mentioned can be generated pretty easily (without MQ4 knowledge). The bad thing is i cannot mention its name in here because its quite easy to obtain a commercial member label.. Just google some Forex and Dreema.
  • #7
  • Jul 15, 2015 4:24pm Jul 15, 2015 4:24pm
Quoting Robertk
{quote} In theory it all sounds very nice but unfortunately strategies like these are very, very hard to put into practise in real live markets. Keep in mind the "ask" price may very well trigger your buy stops at the worst price possible, while your sell limit is not triggered. A "maximum risk" cannot be measured considering spreads and slippage. Your best bet would be to either add an additional spread filter(but keep in mind a spread filter might not work if your order is already triggered by spread; it only works if your grids are far, far away...
Thanks for your suggestions Robertk.
The grid that I have in mind would work in very slow markets then the slippage should be minimal while the problem of the spread that triggers the stop order and not the limit order in effect could be a problem. But assuming that market is in range things should settle down anyway.
Also found the builder ... but is not for me.
  • #8
  • Last Post: Aug 26, 2015 7:57am Aug 26, 2015 7:57am
Bump!
First and last.
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