We require a simple EA that can be used in MT4 (using FxPro as broker) that will be able to execute a basic grid trading strategy.
The best way to understand the simple trading strategy is through an example:
Stock Data: 100, 78, 65, 84, 82, 103, 11, 104, 124, 98
Strategy: buy/sell every 10
Starting at 100 (say you go long 100)
so on day 2, you would buy 1 lot at 90 and 1 lot at 80 (at the end of
the day you would be 3 lots long)
day 3 you would buy 1 lot at 70
day 4 you would sell 1 lot at 80 ... and so on
Ideally, the output of your backtest should show: total profit,
accumulated profit each day, position size each day.
When it crosses over 100, the strategy says to
sell 1 lot (the one that was bought at 90), then when it reaches 110,
you should sell one more lot leaving you with a flat position (zero
At this point, we need to tell the system to sell another lot
(basically, when you are left with 0 lots, you take 1 lot in the
opposite position to what you had)
We want to be able to backtest this strategy on the 5-minute FX data found in MT4. The price data is to the 5th decimal place. Lots sizes need to be adjustable with 0.1 lots as the minimum. Grid spacing and Take Profit levels need to also be adjustable.
If succesfully backtested, there is a potential further project whereby we need to optimize the amount of ticks we buy/sell and the lot size.
We want to be able to successfully implement this automated system in MetaTrader 4. Ideally the output should include information such as overall profit, maximum drawdown, etc. We will require you to guide us as how to be able to this this in MT4 as our coding experience is very limited.