Elastic Grid

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Apr 15, 2024
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Introduction​

So, here we go again. Another day, another trading robot on the market. This time we're evaluating Elastic Grid, a system that's getting a lot of buzz. With a 4.8 rating on MQL5, let's see if it lives up to the hype or if it's just another tool destined for the digital dustbin.

Functionality Description​

First things first, let's break down what Elastic Grid actually does. According to its description, this EA primarily focuses on creating pending orders. This might sound basic, but for some trading strategies, it's more effective than placing orders on the fly. It operates on a grid system, adjusting to market conditions and tweaking the grid size dynamically. Fancy, right? It also shows cumulative market lots, but apparently lacks in some trade management features (we'll get to that).

Performance Analysis​

Now to the meat of the matter: How has this EA performed over the last year? Detailed results and statistics are available on the official website, but let's sum it up for you. Elastic Grid has shown consistent profitability during backtesting and live trading. It appears to handle different market conditions reasonably well, although—as always—past performance is no guarantee of future results.

Pros and Cons​

Here's where it gets interesting.

Pros:
  • Creates pending orders, minimizing execution delays.
  • Flexible grid adjustments to market conditions.
  • Developer is responsive to user feedback.
  • High user ratings (4.8) suggest broad satisfaction.

Cons:
  • Lacks advanced trade management features, like P/L visibility.
  • Users must keep multiple charts open for full functionality.
  • Unclear long-term robustness in highly volatile markets.

Elastic Grid Source Code​

One thing to note is that we don't have access to the original source code of Elastic Grid—what a shocker. However, we can create a similar code based on the algorithm description available on MQL5. If you're intrigued, ask your questions on the forum, and we'll be glad to share our take on how this robot can be coded.

Code: 
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Download Elastic Grid Trading Robot for Effective Forex Trading​

So, if Elastic Grid piqued your interest, you might want to give it a spin. For more details and to get your copy, head over to forexroboteasy.com. If you have specific questions about the code, don't hesitate to bring them up on easytradingforum.com. Just remember, the EASY Trading Team doesn't sell Elastic Grid; we've merely created an example robot based on its description.

There you have it—another day dissecting another trading robot. Stay skeptical, stay profitable.
 
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