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Benefit EA is an MT4 expert advisor that opens a series of grid orders, closes them by take profit or trailing stop, and has no stop loss. It includes lot scaling, a time filter and on-chart buttons for manual control.
Get one message the moment it launches, with its price.
Benefit EA is an expert advisor for MetaTrader 4 that trades with a flexible grid. It opens an initial order, adds further orders in the same direction at set distances, and closes the series with a take profit or a trailing stop. It does not use a stop loss, so the way you configure steps and lot sizes matters a great deal.
The EA looks for entry points that the developer says were derived from statistical modelling of price behaviour. It does not rely on a chart indicator for entries. Once a series is open, the next order is placed after a distance in points that you define separately for Buy and Sell. The distance can grow with a coefficient that starts from an order number you choose, and lot size can grow with its own coefficient. A series can hold up to 17 orders.
Positions are closed by take profit, or by a trailing stop that activates after a set number of points. The EA has no stop loss, so the exposure of an open series is limited only by your maximum lot, the maximum number of orders and your account margin.
An optional Risk Reduction System can be switched on from a chosen order number in a series and off at another. While active, it uses its own take profit and trailing values, and a profit percentage setting is meant to help leave a prolonged drawdown. The developer suggests 70 to 90 percent for that value, but you should test it before relying on it.
The default inputs are set for GBPUSD on M15. The developer lists GBPUSD, USDJPY, EURUSD, EURJPY, USDCAD, USDCHF and AUDUSD as suitable, with M1, M5, M15 and H1 as working timeframes. Different symbols need different step and lot values, so do not copy the defaults to another pair without testing.
| Group | Input | Purpose |
|---|---|---|
| Base | New_Cycle | Allow or stop new series after one closes |
| Base | MAGIC | Magic number; use a different one on each chart |
| Base | Slippage | Allowed slippage; leave unchanged unless you know why |
| Base | Max_Trades, Max_Lot | Order count limit (up to 17) and largest lot |
| Take profit | TP Buy, TP Sell | Take profit in points per direction |
| Take profit | Trailing_Start, Trailing_Size | Trailing activation level and trailing distance |
| Risk Reduction | RRS and related inputs | Switch, start and end order, own exits, profit percent |
| Buy and Sell | Step, Step_Coef, Step_Mass | Distance between orders and how it grows |
| Buy and Sell | Min_Lot, Lot_Exp | First lot and lot growth coefficient |
| Time | Time_Filters | Trade only within chosen hours |
Exact values depend on the symbol and your account, so check them in the strategy tester and on a demo account.
Trading carries risk, and a grid without a stop loss can accumulate large floating losses when price keeps moving one way. Past results, including tester results, do not predict future ones. Use a demo account first and only risk money you can afford to lose.
| Product type | Expert Advisor |
|---|---|
| Platform | MetaTrader 4 |
| Strategy focus | Scalping, Grid |
| Delivery | Download from your account after purchase |
| License key | Not needed |
| Status | Launching soon |
| Category | Expert advisor |
| Trade style | Grid with scalping-style take profit and trailing exit |
| Markets | Forex majors, such as GBPUSD, USDJPY, EURUSD, EURJPY, USDCAD, USDCHF, AUDUSD |
| Timeframes | M1, M5, M15 and H1 are suggested; default settings are set for M15 |
| Stop loss | Not used; positions close by take profit or trailing stop |
| Account guidance | Developer suggests a sizeable deposit and leverage from 1:20 to 1:1000 |
| Operation modes | Fully automatic or semi-automatic using chart buttons |
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No. This listing is for the MetaTrader 4 build only. It will not load in MetaTrader 5, so check that your broker offers an MT4 account before buying.
No. Positions are closed by take profit or by the trailing stop. Because a grid can keep adding orders against the market, you should size lots carefully, limit the number of orders in a series and watch your margin level.
The default inputs were prepared for GBPUSD on M15. Other major pairs and the M1, M5 and H1 timeframes are suggested by the developer, but you should test any combination on a demo account first.
Yes, but each chart needs its own magic number so the EA can tell its orders apart. Also keep in mind that several grids on one account share the same margin.
The developer suggests a base deposit in the range of 5,000 to 10,000 depending on the instrument, and leverage between 1:20 and 1:1000. Requirements depend on your lot settings and broker, so check them in the strategy tester and on a demo account.
It uses the server time shown in MetaTrader 4 for the instrument, not the clock of your computer. The two may differ, so check your broker's server time before setting the hours. The filter status is shown as text in the upper left of the chart.
Benefit EA
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