Free EA - Piggy n The Middle (Free EA - Piggy n The Middle)

Hello, members of Forex Factory!

This is my first post on Forex Factory, so I'll try my best to make it a good one.

First and foremost: let me just say thank you to Mr. Raymond Refat for providing many of us with valuable insights into his unique grid trading strategy.
Without Mr. Remon's post, I would not have considered implementing the trading method in my newly created EA. Please let me give credit where credit is due and identify the impact Raymond's ideas had on me and draw parallels in my strategy.

1. This strategy involves holding both buy and sell positions at each grid step.
2. This strategy involves closing winning and losing positions at net profit during the retracement period

Without these two ideas, I wouldn't have been able to develop a strategy that did kind of mimic Mr. Raymond's, but was different.

Although some alternative "Remon EA" is discussed in his post, I think it's unfair to do so as it really does not represent nor come close to Mr. Remon's Method 1 (Part 1 and/or Part 2) nor does it follow his Method 2 which is still in development.

For those of you who have no idea what I'm talking about, I invite you to visit his post. This guy is a genius when it comes to grid trading strategies. This is something I have never encountered in over 10 years of Forex trading.
Please visit http://www.forexfactory.com/showthread.php?t=583322 It’s well worth it!

Please find the accompanying EA
The settings are explained in the screenshots in this post and are pretty self-explanatory, but if you're not sure, feel free to ask.

In essence, I have said the role of EA.

1. This strategy involves holding both buy and sell positions at each grid step.
2. This strategy involves closing winning and losing positions at net profit during the retracement period

However, there were many developments that led me to get there, which is why my EA is already called v4

variables to consider.

1. Integer sets the grid size based on the price value. (See screenshot for example illustration)
2. Variable Take Profit for Positions

Although grid size is very important when trading, I added variable TP positions in pips.

I find this useful, especially in the case of GBPJPY, my favorite pair to run my EA on. I added this based on one of my ideas to take profit in the middle of the grid rather than when opening a new grid position. The point of this is that if the currency pair's price action reaches an eventual top or bottom, there is an opportunity to reverse the situation.

Example: In a 200 pip grid, take profit prices can be taken at 100 pips on either side. If PA rises by 100 points and falls by 100 points from an open buy/sell position, then we will close both positions and return the net value to the bank balance of your open position.

Another experiment I did with TP was setting the TP to 300 points on a 200 point grid. Although this will always leave the position open, it is still possible to achieve greater profits by manually adjusting the EA settings during the trade and still close the position.

Currently, my variable profit position is 10 pips away from the next grid step to take maximum profit if price trends, and 10 pips away from the next grid step to allow for another buy/sell position, as if set to 200 one of the buy/sell positions will not be opened at the next grid step.

I think that’s pretty much it!

Have fun with my new EA. I'm not a coder. I made this EA through a program called fxdreema. I love this software! It is very versatile and can perform quite complex coding through its flowchart-like graphical user interface. I encourage anyone to give it a try. I still use the free version, but it doesn't restrict me from making my EAs. Not only feel free to discuss the pairings and setups you use, but I'm also willing to make modifications to the EA if it's within my capabilities .

I won't share mq4 publicly, but feel free to PM me your request and what kind of modifications you are considering. I might agree with sharing mq4, but I know better what you want to do to prevent lurkers from downloading without sharing their thoughts with us and this thread.

Happy Pippi!

Daniel

Version 4-1:
All features are the same as version 4 (original).
New features :
Triple trading hours filter (default setting will make it run 24 hours a day, except between 23:59 - 00:00)
(Sorry, this is the only way I can program the trading time. 1 minute a day and it won't trade.)
(You can also change from server time to local time by replacing the word "server" with "local")

I'm currently working on resolving the issue of "closing all trades with equity percentage" - hopefully that will come soon!

Edited April 22, 2016
After thinking about it, I decided to add mq4 files for further development. I ask you, "Please share your progress on this post." Being a Forex trader is hard enough, and I implore you to politely share with all of us what might be a better EA than the one I originally created.

Edit 02/05/2016
As requested by thread followers, this version now has trading day and trading time filters. I got rid of the triple transaction time filter because users didn't seem to use it. Additionally, I also made the input for this version more user-friendly. The definitions of the variable constants are much easier for the user to understand, and I also managed to change the rounding number function to be in points instead of the original v4 and v4-1 prices, which removes complexity for the user and eliminates the need to refer to the screenshots in this article unless you are still using v4 or v4-1.

For everyone using fxdreema, mq4 files should be able to be imported directly for fxdreema block editing.

Happy Pippi!