can anyone help me by making an Expert that stacks many(adjustable) Buy and sell orders one above/below the other at an adjustable distance, and takes profit when net floating profit/loss reaches a set(adjustable) dollar value.
After taking profit/loss it cancels all orders and places new buy and sell orders again at current market price.
If floating positions goes on for a week without reaching the targets then it closes all open positions and cancels all orders and places new ones.
A trailing stop may help.
This EA will probably need a few indicators. But let's do that later.
So you're saying that the EA should set up limit orders above and below the current price at a spacing set by the user. Then as the price moves around, orders are triggered, and then the EA closes all orders when a net target profit is reached? Then it would start over again at that point? I like this idea a lot (I am also a big fan of hedging-type strategies, I believe they can work)
I'm not even sure that you would need or want any indicators involved. It might be best to just let the price action trigger orders and as one side wins, you will get into a net positive situation and the EA would close all and reset.
Unfortunately, I am not a programmer. But I think that this could probably be set up. Someone could even use MakeGrid193 (which can do many of these things) as a starting point. If this EA can be created, I would gladly help in the testing, improving, etc. I think it has potential.
Hi ! eric,
you're correct. that's exactly what I'm looking for.
If someone will code it, That would be great!!!
you are welcome to test it.
I tried manualy but it requires some effort placing many orders. An EA is the best way to do it.
Working on this?
I tried to set the user inputs in the MakeGrid193 EA so that it would do this. It sets it up perfectly (see the attached image)
It sets limit orders above and below the current price, you can set the spacing betweent the orders (in this case 10 pips), and you can set a ProfitTarget where the EA will close out everything when a net profit level is reached.
The problem is, when the price starts to move, for example say it moves up and triggers the long 1.2180, 1.2190 orders, etc., when the price comes back down, it will open new orders for shorts at 1.2190, 1.2180, 1.2170, etc. but we only want it to trigger the original shorts, 1.2160, 1.2150, etc. In other words, even though the EA initially sets it up just the way we want, it will continue to set new limit orders (that we don't want) as the price moves around.
We want it to just set the original limit orders and then not set any more limit orders until the ProfitTarget feature closese everything and starts over. If I had any programming skills, I would try to modify this EA (which has much more features than we really need for this) so that it just sets the original limit orders according to the user spacing, etc. and no more, and then closes when the net profit is reached and starts over. Unfortunately, I don't have the skills to do that. If anyone does, it would be interesting to try this out.
This expert may be modifies to do that.
Igor made me new version of this system in the Elite section of the forum. But it still has some bugs.
All the coders are quite busy the last few days. But I will ask him to fix it.
if they allow me, then I will post the Expert in this section and we can all test it's progress and make it better if possible.
Thanks FX-Hedger! Let me know! As you know, I am very interested in this type of theory.
I'm interested too!
I want to test this EA.
Hi JoZo, can you Code?
Here's the Hedge Expert.
Here is the expert! and Tresert file.
unzip the Tracert file Place it in the include folder which is located inside the Expert folder.
Then place the EA in the Expert folder. Open the Expert in Meta Editor and Press compile button. Then turn on your Metatreder and attach to chart.
Let me know how it goes.
Thanks FX-Hedger! I'll start working with it this week. Let's keep updating to this thread with our results, ideas, etc. Also, many thanks to Igor for coding and sharing!!:)