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A simple Grid system- No indicators required.
1. After a price tick - a grid is opened at Buy stop & sell stop.
( external parameter-1. minimum distance to open grid, 2. Add to sell order ( this is becuase spread is added to a buy stop
order but not to a sell order, hence we can specify in external parameter the amount to be added to a sell order )
2 . When the first Buy stop is opened to a Buy position, a new Buy stop is opened at minimum distance again. Also the sell
stop is modified to appear at minmum distance order. This modification to be done every 3 pips. Same applies to Sell stops
3. When a buy is opened Trailing stop functions , and closes atleast 2 pips in profit if the market reverses. ( this amount
should be set in external parameter). Further explanation later.
4. External parameter to control whether to open both Buy & Sells,
An open sourced code EA - has already been done covering all points above ..and I can hand over this .
5. Another external parameter that disables any further stop orders after a limit , on both sides .
controlled in external parameter. Default is 0, means no limits. if a valued is entered in buy or sell, no orders will be
placed after this price point.
6. Stop loss as shadow stop loss ( seperately can be set for Buy positions and Sell positions )
7. Lot size set for both Buy & sell seperately.( or a percentage of equity-- if possible )
8. If the difference between open Sell & Buy positions is more than 60( Defined in external parameter ) then a new BUY STOP
is opened "x" pips below ( defined in external parameter ) the Sell position , and a new Sell STOP is opened below , the Buy
position . External parameter that defines how many such differences should be taken into account, or else a direct
proportion with money management, which automatically suggests whether to open a position or not.
9. To avoid Sell negative Roll over rates ( Swap interest ), No sell limits should be opened before "x" hours the closing of
the day. Sell positions resume after the swap interest is posted for the day. These times can be set in external parametr.
10. A small summary of the Opened Trades, Equity Balance, Broker time etc.. should be displayed in chart.
11. The first function of EA should be to check all open positions and trailing stops- this ensures that the EA will work
smoothly even after a reboot .
12. Broker account lock & Time expiry to be built in.
13. Full source code to be passed along.
11. Money management .