🤖 EA name: QLT (Quantum)
📦 Version: 1.70
💻 Platform: MT4
📈 Strategy: Order grid
⏰️ Timeframe: M5
🌍 Currency pairs: AUDCAD, EURAUD, EURCHF
🌓 Trading time: Around the clock
📊 Monitorings: https://www.myfxbook.com/members/WhiteLake/qlt-eurusd-eurjpy-agressive-/2020357
⏳️ Test period: 2012.03.01 – 2023.01.07
🏛 Tick Data Provider: Dukascopy (TDSv2)
Real spread: ✅️
Slippage: ❌️
In order to download an adviser with tests, go to our telegram channel 👇
Brief description of the forex advisor
The forex profitable Expert Advisor order grid trading is based on the Quantum indicator. MT-4 indicator shows lows and highs for a certain number of candles. The trading strategy for this indicator meta trader 4 implies opening orders against the current movement, counting on a rollback/reversal.
Forex Meta Trader 4 Expert Advisor builds buy/sell grids independently of each other. The EA has its own order counter. It does not depend on whether it was possible to open a real order or not, it worked ostponement or not, and reflects the amount that should have been according to the standard trading
algorithm. All calculations related to the number of orders use this counter.
The value of the counter is displayed in the chart window of the Meta Trader 4 trading terminal along with other data. The number of actually open orders is not included in any calculations and may differ from the displayed value.
Description of the logic of work and settings of the adviser
When a signal from Quantum appears, the countdown begins. If the counter was not reset and the required number of signals was missed (all in accordance with the settings), then the lot multiplication factor is taken or calculated and a market order is opened. When new signals appear, pending orders are placed. If the price of a new pending order is better than that of existing orders, then they are closed. A new order is placed taking into account the volume of those that did not work.
Having received the signal of the MT-4 (qde) indicator, Meta Trader 4 starts counting these signals. It skips the number of signals specified in the settings (Wait) and opens a market order. If it is specified in the settings to skip 7 signals, then the order will be opened after the 8th signal appears.
The counter in the EA is reset in the following cases:
- There were already NumBoxes of signals, and the price passed less than NumPoints points. For example, the settings are set to 6 and 10. This means that when the 7th signal appears, if the price has passed less than 10 points, the counter will be reset to zero. There is a sluggish price movement in one direction. At the same time, not much has passed, but the counter has already been wound up.
- If more than NumPriceTime minutes have passed since the beginning of the countdown. With a long flat, the price can issue new highs / lows (say 2-3 signals) and again go into the flat boundaries. If such situations are not filtered, then by the time the movement starts, the counter will almost be used up and the grid of orders will start building earlier than necessary, i.e. at the very beginning of an active price movement, and not when the movement is already subsiding.
- When the number of signals is equal to the number of candles (NumBoxes2). If 5 is specified in the settings, then when the 6th signal appears, the counter will be reset to zero. When active movement begins, the signals may appear on each new evening. If you open deals on these signals, they will immediately go into the red. It’s better to skip this move.
- When the opposite signal appears. For example, we count signals for opening a grid of orders in sell. The required amount was not collected, the price went down and a buy signal appeared. It is obvious that the situation on the market has changed and it is better to start the countdown again.
- When the QDC2 signal appears (Numqdc2). The price may not reach the appearance of the opposite signal and at the same time go a decent distance. It is better to reset the counter too.
- When changing the timeframe in the settings of the MT-4 adviser. When new signals appear, the Meta Trader 4 Expert Advisor will place pending orders (stop orders). Pending orders are virtual, because not all forex brokers allow you to place a pending order at the optimal
distance from the price of the asset. If the price goes further without a recoil, then the pending order does not work, which means it will not increase the drawdown on the trading account. Although pending orders eat up part of the profit, they often allow you to avoid draining the deposit.
Pending orders are placed at a certain distance (Delta) from the current price: for buystop – from the ask price, for sellstop – from the bid price. After a certain time (TimeSec), the pending order that has not triggered is deleted, and its volume is remembered. The next pending order set by Quantum’s trading advisor will be placed taking into account this volume.
If there are active (not deleted) pending orders, then when placing a new one, it is checked whether the price of this pending order will be better than that of the active ones. If yes, then they are closed, and a new pending order is placed taking into account their volumes.
When the grid begins to be built, a situation may occur in which many signals appear, while the price does not pass so much and with small rollbacks. When the main movement begins, then there remains a whole bunch of orders collected in a heap.
To prevent this from happening, there are the following settings. Open only higher/lower (for sell/buy) than the previous order (OnlyLowerHigher). When this setting is enabled in the Quantum automated trading advisor, signals that do not meet the conditions will be ignored. Since this is effective only for the beginning of the moment of building a grid of orders, the number of orders up to which this parameter is used (NumOrders) is indicated.
At the very beginning of the order grid, it makes sense not only to open orders higher/lower, but also to specify a larger distance between them (HighLowPoints). Accordingly, the number of orders for which this is valid is also indicated (NumOrders2). The value of NumOrders2 cannot exceed the value of NumOrders.
For example, parameters 19, 2, 5 are specified in the settings. This means that the first 5 orders will be placed at a distance of at least 2 points from each other, then simply above (or below) each other until the number of orders in the grid exceeds 19, and then just by signals, no matter where the price is at the moment.
For the minimum allowable distance between orders, you can use ATR (UseATRforHL). The ATR period (ATRPeriod) and the coefficient (ATRkoef) by which the ATR will be multiplied are indicated. In addition, the HighLowPoints parameter will serve as a limit on the minimum possible result.
Conclusion
This Profitable Expert Advisor Order grid is definitely of interest to both novice forex traders involved in adgo trading and more experienced system traders.
In order to download an adviser with tests, go to our telegram channel 👇