Reverse Hedging Expert Advisor

[Ranger5542]

Hello All

I would like to put forward an automated hedging type strategy in MT4 language in the following manner

1. Opening order is a OP_BUY

2. After the opening Buy Order is placed Both a Sell Limit and Buy Stop order is placed 10 PIPS above and below the initial Buy Order (PIPS SPACING IS USER DEFINED)

3. There should be individual LOT sizes for 6 BUYSTOP and 6 SELLLIMIT Orders that are set by the user in options box

4. The PIP level Spacing is to be set by the user for each individual level in options box

5. Each time price passes through a level for example price goes short and passes a BUY Stop level another buy stop order is placed for example 10 PIPs below the BUY Stop order that has just been triggered.

6. This is to happen in the instances that price goes long and triggers a BUY STOP order another BUY Stop order is placed at a user defined space of PIPS Above the triggered BUY Stop level

7. Take Profit is the crossing of the original OP_BUY Price once any BUYSTOP or SELLLIMIT level is triggered, once take profit occurs all trades both open and non open are closed and the cycle starts again at the end of the next closing candle

Example of the set out of orders

OP_SELLLIMIT
OP_SELLLIMIT
OP_SELLLIMIT
OP_SELLLIMIT
OP_SELLLIMIT
OP_SELLLIMIT

OP_BUY

OP_BUYSTOP
OP_BUYSTOP
OP_BUYSTOP
OP_BUYSTOP
OP_BUYSTOP
OP_BUYSTOP

USER defined PIP Spacing between Levels

OP_SELLLIMIT Lots1
OP_SELLLIMIT Lot 2
OP_SELLLIMIT Lot 3
OP_SELLLIMIT Lot 4
OP_SELLLIMIT Lot 5
OP_SELLLIMIT Lot 6

OP_BUY Lot initial

OP_BUYSTOP Lot 7
OP_BUYSTOP Lot 8
OP_BUYSTOP Lot 9
OP_BUYSTOP Lot 10
OP_BUYSTOP Lot 11
OP_BUYSTOP Lot 12

Stop loss is user defined and optional

I hope this is easy to explain and I thank you for the great work that you all do

Cheers Ranger

[Ranger5542]

Hello

I have made a mistake these should contain all BUYLIMIT orders not BUYSTOP

cheers all

[Ranger5542]

Hello all

Reversing the operation of this program would probably work well with implementing the changes I recommend as this program runs well and is user defined in how many levels can be running along with screen information relating to market conditions that is a great idea stating volatility when trading

[Ranger5542]

My mistake these should all be BUYLIMIT orders not BUYSTOP so please correct in coding

thank you

[Apprentice]

Your request is added to the development list under Id Number 4525

[Apprentice]

Try this version.
viewtopic.php?f=38&t=67454