Trading libraries for MetaTrader 4
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MetaTrader 4
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Overview
Here follows a comprehensive user manual for **Bitbot V6 Ultimate Grid** (version 1.16), clearly written for both beginners and advanced users, including a.i assisten who can explain you everything about the bot and help you with the inputs: https://chatgpt.com/g/g-68319e9ad9308191a84f7dd1ff00469a-bitbot-v6-ultimate-grid
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## What is a Gridbot?
A **gridbot** is an automated trading robot that places buy and sell orders in the market at regular intervals above and below the current price.
Imagine a ladder: at each rung (interval), the bot sets an order. When the price moves up or down, these orders execute, aiming to profit from market fluctuations.
**Potential:**
* Profits from market fluctuations without frequent manual market entry and exit.
* Suitable for volatile markets like crypto, forex, indices, and gold.
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## Input Menu: Explanation per Field
Each input field is explained here: **what it does, effects of changing values, and importance. Includes examples and practical tips.**
### 1. **UseChartSymbol**
* **What is it?**
Activates gridbot on the *current* chart symbol (e.g., BTCUSD or EURUSD).
* **If TRUE:** Bot works only on chart symbol.
* **If FALSE:** Allows setting multiple symbols via 'InpSymbols'.
* **Advice:** Beginners should leave it TRUE.
### 2. **InpSymbols**
* **What is it?**
Comma-separated list of symbols if UseChartSymbol is FALSE.
* **Example:** `"BTCUSD,ETHUSD,XAUUSD"`
* **Default:** Chart symbol if left blank.
### 3. **InpUseMarketOrders**
* **What is it?**
TRUE places immediate market orders.
* **If FALSE:** Only pending limit orders based on grid strategy.
### 4. **InpGridMode**
Three modes control grid aggressiveness:
* **Defensive:** Grid levels shift minimally.
* **Aggressive:** Grid levels adjust frequently.
* **Ultra:** Grid closely follows market movements.
* **Changing effects:** More aggressive = more trades, higher risk.
### 5. **InpMaxGridLevels**
* **What is it?**
Maximum grid levels above and below the current price.
* **Example:** Setting of 3 creates 3 levels above and below price.
* **Increasing:** More orders, greater risk and opportunity.
### 6. **InpMaxOpenTrades**
* **What is it?**
Maximum open positions per symbol.
* **Advice:** Start small, increase as confidence grows.
### 7. **InpLotSize**
* **What is it?**
Trade size per position (e.g., 0.01 = 1,000 forex units).
* **Important:** Higher volume = increased risk/reward potential.
### 8. **InpMaxPendingsPerSymbol**
* **What is it?**
Limits pending orders per symbol.
### 9. **InpGridStepPips**
* **What is it?**
Distance (in pips) between grid levels.
* **Increasing:** Fewer trades, lower risk.
* **Decreasing:** Frequent trades, increased risk.
### 10. **InpTakeProfitPips & InpStopLossPips**
* **What is it?**
TP and SL distances in pips. Zero activates ATR mode.
* **Example:** 100 means TP/SL at 100 pips.
* **At 0:** ATR-based (see ATR explanation).
### 11. **InpTrailStopPips**
* **What is it?**
Trailing stop in pips.
* **Tip:** At 0, ATR-based trailing.
### 12. **InpUsePartialClose & related fields**
* **What is it?**
Enables partial profit-taking.
* **Example:** 25% close at 50 pips profit.
* **FullClose:** Complete close at specified profit level.
### 13. **InpDynamicSLTPOn, InpDynATRPeriod, InpDynSLMultiplier, InpDynTPMultiplier**
* **What is it?**
Dynamic SL/TP based on current volatility (ATR).
* **ATR Period:** Volatility measurement span.
* **Multipliers:** Adjust ATR for SL/TP.
### 14. **InpATRMultiplierSL & TP**
* **What is it?**
Default SL/TP multiplier when fixed TP/SL is 0.
### 15. **InpDynamicShift, InpShiftThresholdLvls**
* **What is it?**
Grid shifting if price moves specified grid levels.
### 16. **InpEMALen**
* **What is it?**
EMA length for trend filter.
* **Effect:** Shorter = quicker reactions; longer = smoother reactions.
### 17. **InpATRLen**
* **What is it?**
ATR volatility calculation period.
* **Effect:** Higher = stable ATR.
### 18. **InpTrendFilterOn**
* **What is it?**
Trades aligned with trend direction.
* **Advice:** Particularly useful on higher timeframes.
### 19. **InpATRGridOn & Multiplier**
* **What is it?**
ATR-based grid distances instead of fixed pips.
* **Example:** ATR = 8 pips, multiplier = 10 → grid step = 80 pips.
### 20. **InpScoreTF**
* **What is it?**
Timeframe for indicator score (RSI, MACD, EMA).
* **Effect:** Higher TF = fewer, stronger signals.
### 21. **InpRiskPerTrade**
* **What is it?**
Max account risk percentage per trade.
* **Example:** \$10,000 account, 1% risk = max \$100 per trade.
### 22. **InpGridShiftMode & Threshold**
* **What is it?**
Automatic grid shifting controls.
* **OFF:** No auto-shift.
* **PERCENT:** Shift on significant ATR/gridstep change.
* **ALWAYS:** Always shift with minor changes.
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## ATR and Pips Explained
**ATR (Average True Range)** measures price volatility per candle.
* MT5: Insert → Indicators → Trends → ATR.
* ATR indicates volatility in pips/dollars.
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## Risk Management Explained
* **MaxOpenTrades & RiskPerTrade:** Protect account by limiting exposure.
* **Multiple grids/trades:** Increase risk.
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## Essential "If This, Then That" Examples
* **Small grid step:** Frequent trades, higher loss risk.
* **Large grid step:** Fewer trades, larger moves needed for profit.
* **Tight SL:** Frequent small losses.
* **Wide SL:** Trades remain open, larger potential losses.
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## Final Advice:
* Always test on demo first.
* Activate grid only in volatile markets.
* Regularly verify ATR values.
* Pay attention to broker pip values.
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Any questions about specific fields or market examples? Feel free to ask!
