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Momentum Grid (FREE)

Name: Momentum Grid

Category: Grid

Price: FREE

Pairs: GBPUSD

Time frame: M5

Time: 24h

ECN ready: Yes

NFA ready: No

Execution: Auto

Stealth mode: Yes

4/5 digits: Yes

MM: Yes

INFORMATION

This EA uses the built-in Momentum indicator of your MT4 platform. Momentum Grid is a martingale grid. That means high profit and high risk. Momentum indicator tell us when GBPUSD pair is bullish or bearish. The EA place sell orders when the pair is bearish and buy orders when it is bullish.

Momentum Grid performs better on GBPUSD pair and M5 timeframe.

METATRADER DOWNLOADS

Latest update: September 22, 2011

Latest version: v1.5

MT4 Expert Advisor: download (to download: "Right click" + "Save as...")

INSTALLATION

  1. Shutdown your Metatrader platform
  2. Copy the expert advisor file into the /experts folder of your Metatrader software (Example: C:\Program Files/MetaTrader4/experts)

SETTINGS MANUAL

  • grid_size: expert advisor will use this data in order to know when to place new orders
  • take_profit: money management system takes this, minimum_lots and progression to calculate "take profit" in dollars
  • profit_lock: from 0.5 (50%) to 0.9 (90%). This is the profit locked once you reach take profit.
  • min_lots: minimum lots for your orders. The EA will take min_lots as the minimum unit.
  • min_lots_increment: minimum lots increment.
  • profit_mode: 1 normal, 2 maximize
  • account_risk: it is the percentage of total account risked with the ea

BACKTESTS

You can see results from 2 different backtests below. We use same pair (GBPUSD), same time frame, same settings, but different profit mode.

  • Backtest 1: profit_mode=1
  • Backtest 2: profit_mode=2

BACKTEST 1

Test period: January 1, 2010 - March 19, 2011

Pair: GBPUSD

Time frame: M5

Set file: download

Detailed report: view

MT4 Strategy Tester

BACKTEST 2

Test period: January 1, 2010 - March 19, 2011

Pair: GBPUSD

Time frame: M5

Set file: download

Detailed report: view

MT4 Strategy Tester