Candle-Signaled Grid Trading with Partial Position Reduction

Summary

This MT5 expert advisor combines candle direction with grid order placement. A bullish previous candle triggers a buy and a bearish one triggers a sell; that signal applies to later grid orders as well as the first. The description says this avoids placing orders solely because price has moved a preset distance, and that a sharp move without a candle signal does not trigger a trade. In a sustained bearish sequence, a bullish candle can provide the countertrend entry.

The Lite version also demonstrates reducing positions through partial closes, including use of larger-volume orders to close portions of other orders. Users can choose between closing a grid at an average take-profit level or closing orders partially, with settings for spacing, starting lot, profit thresholds, slippage, and maximum lot size. This is a description of the EA’s logic, not evidence of returns or risk-adjusted performance. Grid accumulation and countertrend entries can increase exposure during persistent moves; the document recommends demo testing before live use but gives no quantitative risk analysis.

Key ideas

• The direction of the last candle controls both the first grid entry and subsequent entries.
• A preset grid distance alone does not trigger an order without a candle signal.
• The EA offers average take-profit closure and partial position reduction.
• Its configurable controls include grid spacing, lot size, profit threshold, slippage, and maximum lot.
• The document describes mechanics but provides no performance or drawdown evidence.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.