ProjectProfitProphet wrote: Thu Aug 08, 2024 8:00 pm I have made improvements for an existing free public domain expert advisor for Meta Trader 4 based on grid trade strategy, which I would like to share with others in the name of Free Grid Martingale Plus version 1.0. Other than the original classic RSI indicator, I have added six other optional refined models of RSI for use, including well known models introduced on trading magazine or books, invented by front running traders and experts of technical analysis. Background of each model is briefly covered within the guide book of the package. Grid trade strategy is similar to the cost down strategy, but differs in stop loss mechanism, set for each orders. This expert advisor uses martingale approach for faster recovery, but is a high risk approach, which will require careful money management and pair selection, more ideal for traders aware of this strategy. Risk mitigation mechanism of the expert advisor includes additional price range filter, ATR filter, and logic of execution after rebound, rather than pinpoint at real time while the candle/bar is not closed that could be vulnerable false signals. Price range filter is common in grid trading strategy for one way, half and half, sandwitch, and diamond tactics. The ATR filter also includes limit of minimum value, while low ATR is a potential source of these false signals.

If you are interested in the concept of this expert advisor, I will provide this expert advisor in US English and Japanese language in zip archive format attached to this thread, including documents, expert advisor, and indicators to run it. Source codes are provided for the expert advisor and indicators for those considering improvements of the strategy.

ProjectProfitProphet wrote: Thu Aug 08, 2024 8:00 pm I have made improvements for an existing free public domain expert advisor for Meta Trader 4 based on grid trade strategy, which I would like to share with others in the name of Free Grid Martingale Plus version 1.0.