Hedging EA using my strategy

MQL4 Experts

Specification

Strategy:

Based on this Youtube video. please watch as all instructions are in it - https://www.youtube.com/watch?v=Fzh4dNhYga0

1. First trade is opened manually

2. Once trade is made, the EA is watching for manual trade placed and auto places a pending opposite stop (hedge) order at x pips (user configurable)

3. If pending stop (hedge) order is activated and makes x pips profit (user configurable) - close this open trade (NOT original manual trade).

4. Use some of profit made from hedge trade to close a portion of the original manually opened order. Also keep a portion of profit in account (user configurable)

5. When the opposite stop (hedge) order was closed in profit, then place another same direction as previous hedge trade stop order at x pips away, with TP of x pips. 

6. If price goes to profit for 2nd hedge order, repeat steps 3-5

7. If price goes back to TP of original manual order, then close that order at TP and place a trailing pending stop order in the same direction.

8. This process repeats until all orders are closed.

9. If there are a buy order AND sell open orders and are x pips away from each other - then allow user to place another manual order to open. EA then repeats the process from step 1 with this new manual order and uses profit to partially close the open original trades that are further away, then once original orders are closed it can then use profit to close the newer orders….,


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