Reopening a closed position [key features]
Buy MetaTrader 5 >> Master Grid MT5
- Automatic creation and maintenance of buy and sell grids consisting of pending orders and positions placed at specific steps in any direction from the initial price. Each of these grids can exist independently and have completely independent settings.
- Automatic placement of TakeProfit and StopLoss for each order or position of the Advisor using the values set in the settings (which may remain zero). At the same time, both Take Profit and Stop Loss can be changed at any time at all current price levels.
- Take Profit and Stop Loss controls can be disabled. This allows you to use arbitrary Take Profit and Stop Loss values for each individual order or position, and traditional trailing stops for each individual position. You can also change the opening price of an already placed pending order. This means that after auto-placement of orders, you can change the settings of individual orders to adjust the grid point-by-point to your liking, and each of these orders will still be controlled by the EA.
- Automatic resumption of closing grid positions. This means that if a market position is closed by Take Profit or Stop Loss, a new pending order with the same settings is immediately created in its place…and technically such a grid is indefinite function. At the same time, this feature is not mandatory and can be easily disabled in the settings.
- In the process of trading, the number of price levels already placed will change dynamically. This means that if market conditions change, the EA can change its settings on the fly, allowing traders to adjust their grids to the new conditions. Changing the grid step or its primary price will replace pending orders with new orders (if necessary). Also, for any market positions that may be left over from the previous grid, individual statistics are kept and a separate management system starts working for them. If necessary, it can be quickly removed with a special button.
- A special information panel has been created to manage this type of trading. Along with a system of different alerts, it helps you easily navigate through any number of orders and positions… along with their take profit and stop loss, at any density. At the same time, this panel can be easily moved, minimized and scaled with the mouse.
Demonstration of some technical possibilities of the basic strategy
in the example of Elastic Grid MT5
some screenshotsFor one example of junior version of this EA (Elastic Grid MT5)