Freelance service at MQL5.com: Hedge trading with recovery

Job finished

Execution time 6 days

Feedback from employee

Perfect!

Feedback from customer

Fast development with great results. Thank you again.

Description

Specification

Developing an EA for MT5 platform to start the trades with random entry for an initial group of sell and buy orders per specified by the user (mainly forex pairs and gold, but not limited). Simultaneously, the EA also open the corresponding hedge positions, called hedged group. EA assigns an initial profit target based on the account currency (say $10 USD or per user specified) applicable for the initial group and the hedged group. EA would monitor the equity of the initial group and the hedged group, separately.

Practically, either of the group should reach the initial profit target within a certain time. If either group reached the initial profit target and was closed, then the other group shall remain in drawdown and floating in the market. EA to assign a recovery profit target (e.g. $2 USD or per user specified) and wait the remaining group to reach that recovery profit target, closing the trades and starting a new trading cycle.

If the remaining group went into deeper drawdown, EA would still monitor the drawdown until it reaches a certain drawdown value in USD (say $-20 USD or per user specified and name this as the recovery step). Hence, EA will open the 1st recovery group that has the same position as the remaining group that stay in drawdown. EA would monitor the total equity of the system (by magic number) to close all the trades if the system reaches the recovery profit target.

Otherwise, if the trades weren't closed and went into even deeper drawdown until reach the secondary recovery step ($-20 USD*2 = $-40 USD). EA will open the 2nd recovery group with the same position as the 1st recovery group. Similarly, EA would monitor the total equity of the system (by magic number) to close all the trades until the system reaches the recovery profit target (same at $2 USD).

User could define how many recovery groups would like to implement.

EA has to be able to work with any broker and attached on any chart and any time frame.

EA to provide the start and end time control for initial trade, trade info such as magic number, equity of each group, number of executed recovery, total system equity, the initial TP, recovery TP, recovery step etc.

Hopefully, this make sense. Let me know if you are interested and would like to discuss further. Thank you.

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Project information

Budget

55+ USD

Deadline

to 14 day(s)

Specification quality
Result check quality
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