Grid Builder is a free Metatrader 4 (MT4) indicator that draws a grid together with round numbers on the activity chart.
Round numbers are often used for take-profit targets.
The indicator pops up in the main MT4 chart window as a grid and draws the round numbers in the side bar of the chart.
Free Download
Download the “grid-builder.mq4” indicator for MT4
Indicator Chart (EUR/USD H1)
The example chart below displays the Grid Builder mt4 indicator in action on the trading chart.
Indicator Specifications & Inputs:
Trading Platform: Developed for Metatrader 4 (MT4)
Currency pairs: Works for any pair
Time frames: Works for any time frame
Trade Style: Works for scalping, day trading and swing trading
Input Parameters: Variable (inputs tab), color settings & style
Indicator type: Addon
Does the indicator repaint? No.
Grid Builder + XHMaster Formula MT4 Trend Strategy
Introduction
This MT4 trend strategy combines the Grid Builder Forex Indicator with the XHMaster Formula Indicator.
The Grid Builder highlights round numbers on the chart, helping traders easily identify key psychological support and resistance levels.
The XHMaster Formula Indicator provides a green histogram for buy signals and a red histogram for sell signals.
Combining these indicators helps traders align entries with trend direction and significant price levels.
This strategy works best on 15-minute to 1-hour charts and is suitable for major currency pairs like EUR/USD, GBP/USD, and USD/JPY.
Why this combo works
The Grid Builder shows important round-number levels, which often act as support or resistance.
The XHMaster Formula histogram confirms the trend direction, providing precise buy or sell signals near these key levels.
Together, they increase the probability of entering trades in the direction of the main trend.
Buy Entry Rules
- Price approaches or bounces from a round number highlighted by the Grid Builder.
- XHMaster Formula shows a green histogram (buy signal).
- Enter at the close of the confirming candle.
- Stop loss: set below the recent swing low near the round number.
- Take profit: set at the next round number or 25–50 pips, depending on the timeframe.
Sell Entry Rules
- Price approaches or is rejected from a round number highlighted by the Grid Builder.
- XHMaster Formula shows a red histogram (sell signal).
- Enter at the close of the confirming candle.
- Stop loss: set above the recent swing high near the round number.
- Take profit: set at the next round number or 25–50 pips, depending on the timeframe.
Advantages
- Visualizes key psychological price levels with round numbers.
- Trend confirmation from XHMaster histogram enhances entry accuracy.
- Suitable for trend-following and swing trades.
- Can be applied to multiple currency pairs and timeframes.
Drawbacks
- False signals may occur during low volatility or sideways markets.
- Requires patience to wait for the proper alignment of signals near round numbers.
- Stop loss and take profit levels may need adjustment depending on volatility.
Example Case Study 1 — EUR/USD, 30-Minute
Timeframe: 30M. Pair: EUR/USD. Session: London open.
Price bounced from a round number, 1.1050, XHMaster shows a green histogram.
Entry: 1.1052. Stop loss: 1.1040 (12 pips). Take profit: 1.1075 (23 pips).
Trade closed successfully.
Example Case Study 2 — GBP/USD, 1-Hour
Timeframe: 1H. Pair: GBP/USD. Session: New York.
Price rejected at round number 1.2720, XHMaster shows a red histogram.
Entry: 1.2718. Stop loss: 1.2730 (12 pips). Take profit: 1.2685 (33 pips).
Trade reached the target.
Strategy Tips
- Focus on trades near round numbers highlighted by the Grid Builder for higher probability setups.
- Trade during active sessions for better liquidity and execution.
- Use proper risk management, adjusting stop loss based on round number spacing.
- Backtest the strategy on different pairs and timeframes to refine entries and targets.
