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Basket trading EA needs a few mods
I have recently had a basket trading/hedging EA development and would like some
changes made.
This is how to EA currently handles trades.
First trade - is handled by some extern settings in
the EA
TP level is set.
Break even target is set at X pips after Y pips in profit.
The rest of the EA
handles when the trade goes agains me.
For example. IF trade goes against me X pips open a 1 to 1 size hedge position - This is now
classed as basket 1
At this point we are flat in the market.
I then wait for a new signal. & enter
a new trade - this new trade size is calculated based on the size of the previous basket.
If trade goes against me a new hedge is opened at 1
to 1 size hedge postion - This is now classed as basket 2.
IF the trade was to go in my favour and the overall live trades goes to being
positive the EA closes all trades so the entire sequence can start again.
Areas for improvement -
- I would
like to be able to specify break even settings for the first trade of each new basket. IE lets say we are up to basket 2. We would currently have 4
trades open - so we are flat in the market and i go to open trade number 5 which starts a new basket. I would like to be able to specify break even
targets here ie If trade goes X pips in profit move SL to break even plus Y pips.
-On screen should say how many baskets we have open and show
to points gap for each trade for the basket IE 10 pips between LONG and SHORT
- Currently the EA closes all trades IF hedging program is
running and current trade tips the account to being at break even. I would like to have a option to define a % gain on equity close
0 will mean
close baskets on break even (should take into account spread)
1.5% would mean when trade results in account equity + 1.5% close all trades
-Add
button on chart "Secure bag" to set option to secure account at break even and let trades run (I will press this when i have strong conviction of
my trade and want to stay in the trade but at no risk of the account so this will secure the account and let the trades run) This option
should only work on all first leg trades.ie first trades in any new basket.
- Add button to "tighten stop" on dashboard this will
tighten SL to Low or High of previous bar ie IF short use high of previous bar close If Long use Low of previous bar close
-Allow EA to manage all pairs from the one screen (currently only works on the current chart the EA is installed on)
-Trailing-Step in pips: The
trailing step in pips represents the minimum increase from the last trailing-stop value. For instance, if you set a trailing-step of 5 pips,
the trailing-stop won't be moved unless the new value is at least 5 pips away from the current one, and 5 pips away from the current market
price.
-add button to draw horizontal line on chart showing break even point taking into account current open trades.