Asia Range Grid – Forex Expert Advisor

Asia Range Grid Expert Adviser utilizes a trading strategy with joins popular and widespread RSI Cross strategy with a Grid entry/exit system for EURUSD currency pair on from M5 and higher. The minimum recommended deposit is $1000, the recommended leverage is 500:1. The strategy searches for entry signals by monitoring the Relative Strength Index (RSI).

If the Relative Strength Index falls to the oversold level, the algorithm places a buy trade. Similarly, if the Relative Strength Index rises to the level of overbought, the algorithm places a sell trade. The trading strategy applies a grid system to ascertain the consequent entry points. The trader determines the interval in pips, this makes the distance between grid lines. When the position is open, if the market has to go through a new grid line, the adviser opens a new position.

The Asia Range Grid strategy combines the popular RSI Cross strategy with a Grid entry and exit system.

The strategy looks for entry signals by watching the Relative Strength Index (RSI). If the RSI drops to an oversold level, the strategy will place a buy trade.  Likewise, when the RSI rises to an overbought level, the strategy will place a sell trade.

The strategy then uses a grid system to determine further entry points. The user specifies an interval in pips, which establish a distance between grid lines. After the first position is open, should the market move through a new grid line, a new position is opened.

Positions are only closed one of two ways. Either an individual position will reach its take profit price, or the user defined session time will end which will close all the strategy’s open positions.

The following are inputs available in the application:

• RSIPeriod – The number of bars used to calculate RSI
• RSIOverbought – The overbought level of the RSI indicator used to create sell trades.
• RSIOversold – The oversold level of the RSI indicator used to create buy trades.
• LotSize – The size of each trade
• GridSpacingPips – Distance between two grid levels.
• TakeProfit – The take profit (limit) price, as defined by a number of pips away from the open price
• MaxTradesPerSession – Maximum number of trades allowed to open during the session
• StartTime – Start time of the session. Trades are only opened and closed during the session.
• StopTime – Close time of the session. Trades are only opened and closed during the session.
• MagicNumber – A unique identifier that allows the strategy to account for and manage its trades
• MaxDeviation – The maximum slippage allowed (in pips)

Requirements

This Expert Advisor (EA) is only compatible with FXCM MetaTrader 4 software. It does not operate on MetaTrader 4 software provided by any other brokerage. In order to purchase or download the app, an FXCM live account is required. Once downloaded, the app can be used on both live and demo FXCM accounts.