Grid Main Settings

Parameter Name

Data type

Description

Grid Price (Grid Start Price)

double

This is the price used for determining price action throughout the grid. For example, if the Grid Price is set to Bid, trades will be opened based on the value of the Bid price with respect to the Grid levels.  Any price value can be used. Most trading grids use Ask, Bid or (Ask+Bid)/2.  These values are all available from the pull-down menu as well as the Choose button.

This value also defines the Grid Start Price. The start price is set the moment the Grid is first build and is used as an anchor price for the life of the grid.

Profit Target

double

This is the profit value in dollars (or local currency) that when reached will cause the grid to be closed for a profit.  The profit is calculated using only the trades opened by the grid, not all trades open on the account.

Maximum Allowable Loss

double

This is the loss value in dollars (or local currency) that when reached will cause the grid to be closed for a loss.  The loss is calculated using only the trades opened by the grid, not all trades open on the account.

Base Magic Number

integer

A Magic Number is used to identify an open trade. The Base Magic Number is used to define magic numbers for each level of the grid. For example, if the Base Magic Number is 1000:

• A trade opened in Up Level 1 will have a magic number of 1001.
• A trade opened in Up Level 2 will have a magic number of 1002.
• Etc.
• A trade opened in Down Level 1 will have a magic number of 999.
• A trade opened in Down Level 2 will have a magic number of 999.
• Etc.

NOTE: The trader must take care to not allow the magic numbers to collide with other running Expert Advisors that use magic numbers.

Maximum Open Trades

integer

The maximum number of trades that the grid will open.  Any attempt by the Grid to open a trade after this number has been reached will be denied.

Maximum Open Lots

double

The maximum total number of lots that the grid will open.  Any attempt by the Grid to open additional lots  after this number has been reached will be denied.

Grid Rebuild Rule

integer

This rule defines when the Grid will be rebuilt. The allowable values are:

• Never: The Grid is never rebuilt.
• OnGridClose: The Grid is rebuilt when the Grid has been close for a profit or loss.  This is the behavior of most grids.
• OnDay: The Grid is rebuilt at the start of each day.
• OnHour: The Grid is rebuilt at the start of each hour.
• OnNewBar: The Grid is rebuilt at the start of each new bar.
• OnTick: The Grid is rebuilt on each new tick. Note: This setting only makes sense in very specific configurations, for example when the grid levels are defined as prices (such as a Moving Average) that may change with each tick.

Maximum Runs

integer

Defines how many times the Grid may run.  A run is complete when the Grid has closed for either a Profit or a Loss.

Note: A value of 0 allows unlimited runs.

Run Again Rule

integer

Defines when the Grid may run again. The allowable values are:

• Always: Always runs again, until Maximum Runs is reached.
• OnceOnly: Runs one time only.
• OnLoss: Runs again only after a loss.
• OnWin: Runs again only after a win.