Pending-Order Grid EA with Martingale Sizing and Trailing Stops

Summary

This expert-advisor description explains a pending-order strategy that can place buy and sell limit orders or, in a revised version, stop orders. Orders are initially set a configurable distance from market price with stop-loss and take-profit levels, then adjusted as price moves away. Once one pending order triggers, the opposite order is removed, and the EA waits for the open trade to close before placing another. It can also move stops to breakeven or trail them after a profitable or flat trade, subject to configured thresholds.

After a profitable close, the next order returns to the initial lot size. Following losses, the EA can increase size so a take-profit may recover prior losses; options cap the sequence of size increases or disable this behavior. The description also includes an optional mode that targets recovery plus a specified profit. No backtest or risk-of-ruin evidence is provided. Because recovery sizing increases exposure after losses, a prolonged losing sequence can create substantial drawdown despite the configured limits and exit levels.

Key ideas

• The EA places configurable pending orders and trails their placement as price moves away.
• When one order triggers, the opposite pending order is canceled until the active trade closes.
• Breakeven and trailing-stop features activate according to profit thresholds and settings.
• Position size may increase after losses in an attempt to recover them, with an option to cap the sequence.
• The description gives no performance evidence, and loss-recovery sizing can increase drawdown.

Tags

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