Strategy and Features of TS HedgeBasket
TS HedgeBasket is a multi-currency EA that monitor and trades almost all the major currency pairs and the cross pairs.
The supported currencies are: USD, EUR, GBP, JPY, AUD, NZD, CAD and CHF. It can trade all their combinations, that is, 28 currency pairs in total.
You just need to attach the EA to any chart in the MT4 terminal, no matter which symbol or timeframe, and the EA will trade all these pairs simultaneously.
The EA check the currency strengths and the oversold/overbought status of all these currency pairs every 15 minutes (just like that it is using M15 timeframe). If there is a signal to open a position on any currency pair, the EA still has some other filters to see if the position should be opened.
When the position opening signal pass all the filters, an order will be sent to the trading server and the EA will put the position to the appropriate currency basket. Each position has its own TP and SL settings. And all the positions in every basket will be checked every 5 seconds (which can be customized in the input parameter) to see the overall profit/loss status. That is, every basket also has the basket SL and TP, if the SL/TP is reached, EA will close all the positions in the basket.
A basket can contain various positions which related to its main currency. For example, the USD basket can contain positions that:
- Buy EURUSD
- Sell GBPUSD
- Sell USDJPY
- Buy USDCHF
- …
However, the internal lock (hedge on the same symbol) is not allowed in one basket. For example, a USD basket cannot contain positions of “Sell EURUSD” and “Buy EURUSD” at the same time. If a position opening signal is generated and passed all the filters, and the basket contains opposite position(s), there is an input parameter you may set to ignore the signal or close the opposite position and continue to open the new position.
As a hedging EA, the floating loss is very normal and we don’t need to worry about it too much, because:
- The trade volume of each order is small (default value is 0.01 lot per 1000 USD account balance).
- Every order/position has its stop loss level.
- The basket also has the stop loss level to protect the account.
See Also:
- Getting Started with TS HedgeBasket.
- Input Parameters of TS HedgeBasket.
- User Panel in TS HedgeBasket
