Trading libraries for MetaTrader 4
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MetaTrader 4
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Overview
MHV Grid EA
The MHV Grid EA uses the RSI indicator to enter the trade. To enter BUY, the RSI must cross the bottom up the value specified in the EA parameters (for the sales, on the contrary, cross from top to bottom).
In case of a successful entry, the transaction closes either according to Trailing Stop is used.
If the market goes in opposite direction, the order grid opens at a specified distance from the average price of the grid. Also, newly opened orders can be filtered using Bollinger Bands indicators (for example, Sell opens only if the price has weakened market volume at the top).
The EA separately follows the differently directed warrants. The EA works with explicit control over the opening of the candles, so when optimizing, you can use the mode at price open.
Requirements
- The default parameters are optimized for the conservative variant of trading with EURUSD on the H1 timeframe.
- The minimum recommended deposit is $ 500 with the initial lot 0.01 when using one currency pair ($2500 when using 7 pairs).
- Support for 5-digit quotes.
If you low capital and want to reduce the risk to the maximum you can run ea on the H4 timeframe.
MHV Grid EA can run at USD100 capital.
Dont trust low drawdown at tester because if you use high capital you can see low drawdown. If you test use low capital like USD100, you can see high drawdown.
Parameters
MMType: 1;
MaxTrades: 55;
PipStep: 200.0;
LotExponent: 1.0;
TotalEquityRisk: 1.0;
Slippage: 3.0;
LotsDigits: 2.0;
AutoLot: false;
Lots: 0.01;
Risk: 1;
