With a conservative approach, the EA will be unprofitable due to the spread and the time spent. If you want to gain, be prepared to lose. To turn losing into trades into a profit, you need to use the mechanism of adaptive averaging of the total position.
The common grid trading approach suggests placing orders with an increased position in the initial direction until the price does turn around. The averaging mechanism, used in some modifications of the EA, allows you to make profits from trades entered in both directions on the local corrections. If you want, you can study the algorithm of placing the grid of orders in more detail.
But bear in mind that in different EA the algorithm may be different. The system is based on trading the short-term market moves. Trades are exited with a fixed take profit of pips, which allows you to make profits on the market moves in both directions. In the brief follow-up reviews of several Ilan modifications, I offer a free template. Download the archive. Next, you follow the address MQL4 — Experts. Next, you paste the Expert into this folder and restart the MT4.
If everything is correct, there will appear a smiling face in the top right corner of the chart. This is the original version of the Expert working on the hourly timeframe. It is designed for all major currency pairs. A trade is entered at the beginning of every hour. It spots the short-term trend based on the most recent two bars and enters a trade in the trend direction.
If the price reverses, the next trade is multiplied by the Martingale coefficient, which is specified in the settings, in the original direction counter the trend. This allows us to compensate for the losing trades with the winning ones. Although this modification is not the most up-to-date, it is considered to be the most successful and popular in practical trading.
When the indicator is attached to the chart, the first trade is entered almost instantly sometimes, you need to wait for about 15 minutes. The EA works with all liquid currency pairs on the five-minute timeframe. You can trade forex or employ it in binary options. The recommended minimum deposit is USD. The working principle here is similar to the trading algorithm of the previous version. Stop losses are not set automatically, trades are exited with the take profit.
If the price goes in the opposite direction Ilan enters another trade in the same direction as the previous one. So, I recommend running the EA on a demo account with the default values and then decide what options should be changed, according to your trading style conservative or aggressive.
The template can be uploaded here. Ilan refact 1. It also employs the RSI signals. Buy and sell trades are entered simultaneously in the 5-minute timeframe in the same chart of an instrument. Differently put, when you launch it on the chart, the EA enters two orders in the opposite direction at the first RSI signal. You can download the template of the EA here.
The parameters and the values of Ilan 1. There are several buttons in the upper right corner of the chart. Information on the grid parameters is displayed in the upper left corner: the current spread for the pair, the current step in the grid, volatility ATR for 10 days, and the last 24 hours, the number of open orders in both directions, etc.
If the platform restarts, the existing orders do not close, the EA continues to work as it did until the platform was closed Internet break occurred. To preserve your deposit, calculate the maximum allowable drawdown before you set the grid of orders.
In the EA archive, you will find the Excel table one of the possible options , where you should specify:. This table will demonstrate to you the amount of the potential loss that can occur with a given position volume and the number of grid orders. This is another modification in the Ilan family. I haven't noticed the principal differences from the Ilan 1. You can download the template of this modification here. It seems that the popularity of the previous Ilan modifications still excites its developers.
How can you make money on what has been already promoted among traders? You take the previous modification, modify it a little, and present it as a new product. Download Ilan 2. He used to be the head o the laboratory of technical and fundamental analysis of financial markets in the Research Institute of Applied System Analysis.
Timofey Zuev. Thanks for sharing. I couldn't find any info which currency pairs best trading using this EA. Any idea? It is high time to look around while there are not much statistics around. The pair can be traded by fundamental or tech analysis and with the help of indicators.
This article explains what NFTs are and shares a Top 5 list of companies connected to non-fungible tokens. This new exchange market week will be full of statistics. Investors will keep analysing global economies and geopolitics. There are still too many emotions in quotes. The article describes the way of combining the EMA and Awesome Oscillator on H1, peculiarities of this medium-term trading strategy, and money management rules.
Every week, we will send you useful information from the world of finance and investing. We never spam! Check our Security Policy to know more. Try Free Demo. Is New Version Better than Previous? Testing a Popular Ilan 2. Contents Full description of the Ilan 2.
Full description of the Ilan 2. DynamicPips activates the function of dynamic changing of the distance between two orders in the same direction. DefaultPips is the minimal possible distance in points between two orders in the same direction. Glubina is the number of closed bars from the end of the chart that will participate in the calculation of the minimal distance between orders.
DEL is a special coefficient for calculating the minimal distance between orders. Lots is the trade volume of each first order in the grid. TakeProfit : common size of Take Profit for each grid of orders. Drop is horizontal levels of the CCI; a negative level is interpreted as the opposite of the set one. RsiMinimum is the border of the oversold area of the RSI. RsiMaximum is the border of the overbought area of the RSI. MagicNumber is the unique number of the expert advisor by which it distinguishes between the trades of other robots and its own.
MaxTrades is the maximal number of the trades open simultaneously on one account. UseEquityStop activates the function of limiting losses if the risk becomes excessive for the deposit. TotalEquityRisk is the risk in percent of the deposit. UseTrailingStop switches on Trailing Stop. UseTimeOut activates a time-out for open orders.
MaxTradeOpenHours sets the time in hours , on the expiry of which all hanging orders will be closed. Setting Ilan 2. Feedback on Ilan 2. Material is prepared by Dmitriy Gurkovskiy He used to be the head o the laboratory of technical and fundamental analysis of financial markets in the Research Institute of Applied System Analysis. Further reading Stocks.
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Ilan Dynamic Pro is suitable for any kinds of trading accounts, in particular for ECN and NDD accounts. Besides, the adviser works both with 4 and 5 digits. Use as much Ilan Expert Advisors on a single account as you need (even on a single financial instrument). Each of them will work with its virtual trades only. Ilan is a trading robot based on the grid strategy, which makes profits not on the search of signals but on placing a grid of orders.