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This is a very simple EA that requires NO indicator.
Upon activation, the EA simply produces two pending orders, one above and one below the current price, then a customized grid rules will follow.
The input parameter will be as follows:
Grid size: fixed x amount of pips
Lot size growth: x% of the balance. Formula (x% * balance)/1000. This means if input is 10% with a $1000 balance, each trade would be 0.1 lot size. As the balance increases or decreases the lot size would change accordingly but the percentage would remain the same.
Spread lock: If current spread is above x amount, do not trade
Time lock: If there is only x hours left before weekend, do not trade.
1 x custom made EA on .mq4 format
Additional Project Description:
12/10/2013 at 13:42 WST
The customized grid rules is also very simple. There will only be one open position at all times. No complicated rules at all.
And in regards to the spread lock and time lock input: if there is an open position, then immediately close the open position when any of the two conditions are fulfilled (spread above x amount, or there is only x hours left before weekend).