Hedge - page 5

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casey1:
I have a Hedging system which is very profitable (90+%) using pivots. I know absolutely nothing about coding but feel this would be a very profitable EA for everyone if it can be done. Anyone interested in coding this ?

Casy1,

Can you please elaborate on your Hedging system? Most likely we already have a Hedge EA similar to your strategy and we can modify with your criteria's.

Thanks in advance,

TimeFreedom

 

Here are the basics of the system: Pivot level for previous 6 hours adjusted to key levels ie, 00,25,50,75. Trade Zone is within a 10 pip range of Pivot, S1or R1. (5 pips ea. way) Enter trade long & short once in 1 of these ranges. Close profit trade once next zone is entered. For example if entered at Pivot the Long position would be closed at R1 zone and vice versa. Once profit position is closed price action will either retrace or continue in the direction moving against open position. If price action continues to move against open position, re-enter market (hedge) 12 pips from the price where profit was taken. Maximum 2 re-entries. I also use a shorter time frame system for scalping with different parameters but works relatively the same. Let me know what you think.

 

Maybe you want to join us here:

https://www.mql5.com/en/forum/175357

And we could try to integrate your idea on our EA

 

Will Try to make EA

casey1:
Here are the basics of the system: Pivot level for previous 6 hours adjusted to key levels ie, 00,25,50,75. Trade Zone is within a 10 pip range of Pivot, S1or R1. (5 pips ea. way) Enter trade long & short once in 1 of these ranges. Close profit trade once next zone is entered. For example if entered at Pivot the Long position would be closed at R1 zone and vice versa. Once profit position is closed price action will either retrace or continue in the direction moving against open position. If price action continues to move against open position, re-enter market (hedge) 12 pips from the price where profit was taken. Maximum 2 re-entries. I also use a shorter time frame system for scalping with different parameters but works relatively the same. Let me know what you think.

Hello I would like to try to make your hedge EA but im just getting to know MQL so no promises... Anyways I would just like to know a few more things about your strategy. After 2 reentries and 3 Take profits will we also cut the losing position? Also After Take Profit then say the market retrace, what will we do with the single order remaining? will we take profit at break even? employ trailing stop? at what level will we put the take profit?

Thanks,I will start with a very simple EA using this strategy, so please elaborate on exit strategy.

Regards and a firm handshake,

Mikhail

 
mikhaildgreat:
Hello I would like to try to make your hedge EA but im just getting to know MQL so no promises... Anyways I would just like to know a few more things about your strategy. After 2 reentries and 3 Take profits will we also cut the losing position? Also After Take Profit then say the market retrace, what will we do with the single order remaining? will we take profit at break even? employ trailing stop? at what level will we put the take profit?

Thanks,I will start with a very simple EA using this strategy, so please elaborate on exit strategy.

Regards and a firm handshake,

Mikhail

You are correct, once 2 re-entries have been made and 3 Take Profits we cut the original position in loss because this would be a sign that we are definately in a trend against us and we are giving up the spread +15 pips ea. time we re-enter. The single order remaining once we Take Profit is closed at break even. We may also be able to use a trailing stop at this point to try and catch more pips but I have not done this with the manual system. Thank you for your help.

 
casey1:
You are correct, once 2 re-entries have been made and 3 Take Profits we cut the original position in loss because this would be a sign that we are definately in a trend against us and we are giving up the spread +15 pips ea. time we re-enter. The single order remaining once we Take Profit is closed at break even. We may also be able to use a trailing stop at this point to try and catch more pips but I have not done this with the manual system. Thank you for your help.

thank you for your reply, i will try to finish this EA before monday so we can test it once the market opens.

best regards,

Mikhail

 

Casey We Have A Problem

hello casey the EA is almost done but I ran into another road block as i was backtesting the EA...

So heres the problem. Example EA set pivot points as fallows, Pivot, R1, R2, R3, S1, S2, S3. Ok now say the EA open hedge at Pivot point. Now our TP would be placed at R1 and S1 right, and SL at R3 and S3. Ok now say the market goes up and reaches R1. OpenBuy TP is hit, OpenSell T/P is then modified to Pivot point(breakeven Level)... now the market continue to go up, 12pips above R1, so EA reenters the market with another OpenBuy, correct...

Now heres the problem, After reentry say the market now goes down, up to pivot point, so our OpenSell is now closed at break even... the problem is now we still have another Losing Open Trade the reentered OpenBuy, with TP at R2, and no SL.

my question is what do with do in this situation? do we reenter the market with another OpenSell when it reaches S1? my main concern is where to put SL of these reentered trades?

I will be waiting for your answer, FYI this system is doing pretty well in backtest except for the problem I mentioned above...

Regards, Ill be waiting for your reply,

Mikhail

 
mikhaildgreat:
hello casey the EA is almost done but I ran into another road block as i was backtesting the EA...

So heres the problem. Example EA set pivot points as fallows, Pivot, R1, R2, R3, S1, S2, S3. Ok now say the EA open hedge at Pivot point. Now our TP would be placed at R1 and S1 right, and SL at R3 and S3. Ok now say the market goes up and reaches R1. OpenBuy TP is hit, OpenSell T/P is then modified to Pivot point(breakeven Level)... now the market continue to go up, 12pips above R1, so EA reenters the market with another OpenBuy, correct...

Now heres the problem, After reentry say the market now goes down, up to pivot point, so our OpenSell is now closed at break even... the problem is now we still have another Losing Open Trade the reentered OpenBuy, with TP at R2, and no SL.

my question is what do with do in this situation? do we reenter the market with another OpenSell when it reaches S1? my main concern is where to put SL of these reentered trades?

I will be waiting for your answer, FYI this system is doing pretty well in backtest except for the problem I mentioned above...

Regards, Ill be waiting for your reply,

Mikhail

Thank you for help with this EA. Once we hit R1 and TakeProfit I don't manually re-enter the market long. I only re-enter the market if price continues to move against the short position. I realize this may be a problem for the EA as it will not know when to open trades. I only open a new hedge when original positions are both closed because new pivots will need to be figured to re-enter market. I don't know if this will help or not. Please let me know if you or any others have any ideas.

 

New HEDGEVOT EA Finished

Hello Again,

I finished The EA and it does almost exactly as you described. I have already back tested this and it seems to do what its supposed to, but I havnt forward test this yet so don't even try running it in your live account, but pls forward test it in demo to see how it works in real market. Also if you could back test it as well pls do, so maybe we can still improve strategy.

I named the EA "HEDGEVOT". Anyways heres how she works. These are the external Varables:

---------GENERAL OPTIONS--------

Lots= The number of Lots per trade

MagicNumber = the Unique Magic Number you want to set for HEDGEVOT

Slippage= Set The Slippage

NumberOfTries = Number of tries to make trasaction(just leave as default)

----------PIVOT OPTIONS---------

PivotMin= minimum required difference of High and Low before Pivot is calculated

PivotMax = Maximum limit difference of High and Low if it is exceeded pivot points will not be calculated

BarLookBack= how many bars to lookback for calcualting Pivot points

ReEntryPips = pip distance from next pivot point before re-entry

----------------------------------

So There, But the truth is I backtested it for one year and the sytem is not as profitable as I had hoped. Maybe im missed something in your manual system?

Also Im thinking of adding a certain option where lots will be added after each reentry, so that even if the stoploss is hit at the end we still end up winning.

I will start working on this new option so pls test how it trades, And for everyone else out there who is willing to help forward test HEDGEVOT it would greatly be appriciated. Also all your comments and suggestions are very welcome.

Best Regards and a Firm Handshake,

Mikhail

Files:
hedgevot_-_beta.mq4  20 kb
 

i am testing this ea con usdjpy, but what do you think about pivotmin and pivotmax, is it too much high ?

can pivotmin and pivotmax to be related to an indicator (ATR or other) ?

giapel

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