@ Roy, are you a trader and mql-coding programmer (head-cook and bottle-washer) at the same time?

Not such a good idea to get desired result, unless you do it for fun ))

Appreciate your concern even though you don't know me in person, I can assure you it's alright at my end, thanks.

Hi Roy,

I have implemented a custom backtesting- and execution-engine for alto-trading based on tick-data for renko and candle-stick data.

Will implement you proposed strategy and share the results with you.

Regards

Michael

Hi Michael,

Excellent, I can send you the relevant MQL4 files per email if you'd like to have a starting point, feel free to PM me.

Roy

@Oleksandr - I would not go as far as to disqualify traders as bottle-washers. In your restaurant scenario, at least a few traders can certainly be used as busboys. ;)

Roy, can I have a look at your EA?

The Grid works fine. Every second trader wrote a grid system. The problem is that to survive at least 10-W turns, trader needs about 3000 per each 0.01 lot. Otherwise multiplication factor will ruin it. On the other hand, without pyramiding at stop loss price, the Grid is not profitable. Pyramiding is ok in this particular case, as multiplication happens in the same direction to a new trend

Sure Tumiran, please PM me your details and I'll send you the files.

(int)... thank's, you just allow me to clear all the compiler "Warning". ;-)

Not sure if it is "highly fruitful" but i found that :

NewSL=NormalizeDouble(OrderStopLoss()+(MarketInfo(argSymbol,MODE_ASK)-OrderStopLoss()-(argGapFactor*argGap)),(int)MarketInfo(argSymbol,MODE_DIGITS));

OrderStopLoss()-OrderStopLoss() = 0 => Useless

(int)MarketInfo(argSymbol,MODE_DIGITS) => Does not change on the fly, might be calculated one for all, at startup in Init() function in a tab... to save server requests.

The loop in "UpdateOrdersStopLoss" scann all open orders to treat one specifique case, number of open orders may be high. so it might be faster to scann all open orders one by one once, and call the "UpdateOrdersStopLoss" from the main MoneyManagement loop

Prior reading ASK or BID => RefreshRates();

if distance ... => if distance... && ( Distance > MinDistance ) cf MODE_STOPLEVEL / MODE_FREEZLEVEL.

Why PM ? some ideas make new ideas... ;-)

I actually use dynamic stop loss to limit the downside risk of each order the grid opens, starting with a distance of 3*grid gap to avoid early closure. The problem I face is noise and how to reduce to avoid it, I was thinking to add another indicator to confirm the grid direction like 50 days moving average position relative to the 200 days, any other suggestion?

Dmytro, what do you mean by 3000?

Here is a way to get out of trouble on grids: get out of the way of kurtosis. The thing about grid systems is that the PL is directly proportional to the realized volatility in the market. What gets you is when you have a spike in vol, which means a fat tail, and that kills you. Great example: the last two weeks on EURUSD or GBPUSD. So how do you avoid this? Price action is not sufficient. You can look at events that will knock the currency off its feet. A good starter is to halt trading during central bank announcement. Makes a hell of a difference.

@Dmytro, I would agree with your approach to have $3,000 available equity per 0.01 lot, which translates to 0.3 initial lot-size on ~90K deposit for grid system. In principle Grid, as one of the methods that work for automated trading - is very popular indeed, approx 10-15% of all traders enjoy grids for obvious reason - core idea is very straightforward. Works well for manual trades too when using supplemental tools (http://bit.ly/1MQUM4W).

Few years ago I myself used to run grid system on 100K real-account using 1.0 lot-size. When DD hit 25% treshold - system was deactivated. Lesson learned:

(1) Always leave extra room for long trends (in my case 0.1-0.3 lot).

(2) Consider dynamically hedged or directional grids (http://bit.ly/1PwwDiN).

(3) Make sure your have (i) reliable internet connection, and (ii) EA that detects lost connection with broker-server (could happen for various reasons) and keeps re-connecting every 2-3 seconds until it connects. Because if for whatever reason next trade in series is not opened where it should - sometimes the entire strategy collapses.

@Roy, item 3(ii) is for you, to make sure it's included in the code. This is just a tiny sample of all possible traps//glitches that you have yet to figure out.

Thanks Oleksandr, can you please share a piece of MQL4 code which does reconnection? I know the function IsConnected() only return true/false for the status but I did not find a function call to connect. Are you using some Dll?

None Dll in my league. This particular "reconnecting" function is included in (MQL4/Include folder - see sample in PM).