Superior financial strength
Expert Advisor: Superior Financial Strength (mGRID EA ver 2.0)
Overview
This is a grid trading Expert Advisor (EA) for MetaTrader 4 that implements a sophisticated trading strategy with multiple order levels, money management features, and profit-taking mechanisms.
Strategy Description
The EA uses a grid system with the following characteristics:
Places buy and sell stop orders at predefined intervals (INCREMENT) from the initial price
Manages multiple levels (LEVELS) of orders
Implements a profit target mechanism to close positions when certain conditions are met
Includes partial profit taking functionality
Can use money management based on account balance
Input Parameters
Main Settings:
INCREMENT (35): The distance in pips between each grid level
LOTS (0.1): Base lot size for trading
LEVELS (3): Number of grid levels to place orders
MAX_LOTS (99): Maximum lot size allowed
MAGIC (1803): Magic number for order identification
CONTINUE (true): Whether to continue trading after closing a session
MONEY_MANAGEMENT (false): Enable money management based on account balance
RISK_RATIO (2): Risk multiplier when money management is enabled
Profit Target Settings:
UseProfitTarget (false): Enable overall profit target
UsePartialProfitTarget (false): Enable partial profit taking
Target_Increment (50): Pips between partial profit targets
First_Target (20): First profit target in pips
Time Settings:
UseEntryTime (false): Enable specific entry time
EntryTime (0): Hour of day to enter trades (when UseEntryTime=true)
How It Works
Initial Setup:
When no orders exist, the EA places a series of buy and sell stop orders at each grid level (up to LEVELS)
Each level's order size increases (1×LOTS, 2×LOTS, etc.)
Stop loss and take profit levels are calculated based on the grid structure
Order Management:
The EA continuously monitors open positions and pending orders
If profit targets are met, it closes all positions
When money management is enabled, lot sizes are calculated based on account balance
Profit Taking:
With partial profit taking enabled, the EA closes portions of positions at predefined target levels
The target levels increment by Target_Increment after each partial close
Risk Management:
The EA checks free margin before opening new positions
Automatically adjusts for broker's stop level requirements
Usage Instructions
Basic Setup:
Attach the EA to a chart (recommended timeframe: M15 or higher)
Set your preferred INCREMENT, LOTS, and LEVELS parameters
Enable CONTINUE if you want the EA to restart after closing positions
Money Management:
Set MONEY_MANAGEMENT=true to enable dynamic lot sizing
Adjust RISK_RATIO to control risk level (higher = more aggressive)
Profit Targets:
Enable UseProfitTarget to set an overall profit target (INCREMENT×2)
Enable UsePartialProfitTarget for gradual profit taking
Time Control:
Set UseEntryTime=true and EntryTime=X to only trade during specific hours
Important Notes
The EA includes spread adjustment for accurate order placement
Minimum lot size is automatically respected
All orders are tagged with a MAGIC number for identification
The EA displays comprehensive information in the chart comment
Recommendations
Test thoroughly in a demo account before live trading
Start with conservative settings (lower LEVELS and LOTS)
Monitor performance during high volatility periods
Adjust INCREMENT based on the instrument's average daily range
This EA implements a sophisticated grid strategy that can be customized for different trading styles and risk preferences. The combination of multiple grid levels, money management, and profit target features makes it a versatile trading tool.