Let me quickly explain what I am trying to get by showing an example.
The plan is to invest in an Index such as USTEC or US500 etc.
Because I don't want to risk losing too much money if this doesn't goes as planned, I don't have a lot of money in the account, the problem then is that if I invest in one of these indexes and they go against me in a small period before rising again, then I have to have enough money in the account to cover the period they are in minus. The problem then is if they are so much in the minus that I do not have enough equity in the account to cover this period in loss.
So to what I'm looking for:
An EA that automatically hedges my position as soon as it goes below a certain price/loss/pips, and as soon as the price goes above the price it started to hedge at, it closes the hedge position for a breakeven. But if it goes down yet again (2-3-4-5th time ..) then it continues to open and sell this hedge position for each time. That way I don't manually need to watch every move in the market in case it goes under a certain level.
What if it hedges, closes, hedge again and close till there's no more capital?
Hedging, Same as Martingale.
Martingale, guaranteed to blow your account eventually. If it's not profitable without, it is definitely not profitable with. Martingale vs. Non Martingale (Simplified RoR vs Profit and the Illusions) - MQL5 programming forum 2015.02.11
Why it won't work: Calculate Loss from Lot Pips - MQL5 programming forum 2017.07.11
Most pairs are worth about $10 per PIP. A $5 risk with a (very small) 5 PIP SL is $5/$10/5 or 0.1 Lots maximum.
Well, there's a chance of it not working out. However I am willing to lose my capital by testing it out. So do you know of any hedging EA that is able to do it?
Firstly, you should investigate and calculate the tolerances of such system by doing backtesting. Initially, manual backtesting should help you confirming if the system really works and how much capital you will need