EA17 Scalping Grid Source Code MQ4

Overview

The “EA17 Scalping Grid” is an automated trading system coded in MQ4 language. It aims to capitalize on short-term price fluctuations by using a grid-based approach. Here are the key details:

1. Minimum Deposit:
   • The recommended minimum deposit to run this EA is $500. However, you can adjust it based on your risk tolerance and account size.
2. Time Frame:
   • The EA performs best on the 1-hour (H1) time frame. It analyzes price movements within this interval to execute trades.
3. Currency Pairs:
   • The EA is optimized for the following currency pairs:
     • EUR/USD
     • GBP/USD
     • USD/JPY
     • AUD/USD
     • USD/CHF
     • EUR/JPY

Trading Strategy

The “EA17 Scalping Grid” employs a grid-based strategy. Here’s how it works:

1. Grid Levels:
   • The EA places pending buy and sell orders at specific price levels (grid levels) above and below the current market price.
   • These grid levels create a grid of orders, aiming to catch price reversals.
2. Hedging:
   • When the price moves against an open position, the EA opens additional orders in the opposite direction (hedging).
   • The goal is to average out the entry prices and eventually close all positions in profit.
3. Take Profit and Stop Loss:
   • The EA sets take profit and stop loss levels for each order.
   • Take profit is typically set at a fixed distance from the entry price.
   • Stop loss helps limit losses if the price continues to move against the grid.
4. Dynamic Grid Adjustments:
   • The EA dynamically adjusts grid levels based on market conditions.
   • It may widen or narrow the grid spacing to adapt to volatility.

Disclaimer: Trading involves risks, and past performance is not indicative of future results. Always conduct thorough research and seek professional advice before trading.📈🍀

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