Introduction
Elastic Grid is a trading robot designed to simplify your trading experience by automating the placement of pending orders. Despite its high rating of 4.8 and rave reviews, let's not get too excited; every piece of software has room for improvement. In this article, we'll guide you through the installation and setup of Elastic Grid, share our personal experience, and provide tips for getting the most out of this tool.Installation and Configuration
Setting up Elastic Grid is straightforward. Follow these steps to ensure you're up and running quickly:- Download the Elastic Grid EA from Forex Robot Easy.
- Open your MetaTrader 5 (MT5) platform and navigate to the File menu.
- Select Open Data Folder and place the Elastic Grid EA file in the Experts directory.
- Restart MT5 to ensure the EA is loaded.
- Drag and drop Elastic Grid from the Navigator to the chart of your choice.
- Configure the EA settings according to your trading strategy. Pay attention to parameters like lot size, grid step, and maximum trades.
- Enable AutoTrading to start the robot.
User Experience
While Elastic Grid is generally praised, it's not without its quirks. One user, esasa, mentioned the lack of comprehensive trade management features like P/L tracking and integrated stop loss/take profit lines. This kind of feedback is valuable as it highlights areas for potential improvement. On the bright side, the bot's ability to create pending orders makes it a solid choice for specific trading strategies.Tips for Improvement
To maximize the efficiency of Elastic Grid, consider the following tips:- Pair it with another EA for comprehensive trade management. If Elastic Grid lacks certain features, supplement it with another tool.
- Monitor your trades closely. Don't rely entirely on automation; stay engaged.
- Customize the EA settings to fit your trading style. A one-size-fits-all approach rarely works in trading.
- Regularly update the EA and keep an eye on user feedback for new feature implementations.
Elastic Grid Source Code
We don't know the original source code of the Elastic Grid EA sold on MQL5, but we can create a similar code based on its description. If you have any questions about coding your version, feel free to ask. Remember, the EASY Trading Team doesn't sell Elastic Grid; we only develop a version based on its MQL5 description.
Code:
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