Job finished
Execution time 43 days
Specification
Hi, I have an EA and custom indicators that needs updating and fixing.
I want to update my money management system to include (with settings to use/not use) a percentage take profit system, stoploss by parabolic/ATR and risk/reward ratio. I already have a trailing stop but my money management system needs fixing/updating to standard.
As for the hedging system, there are 2 phases with inputs. Hedging to offset loosing trades and hedging for profit.
The purpose of hedging to offset the loosing trades is using hedging with the aim of quickly closing said loosing trades with the possible gains from hedging. There are 2 settings, either using drawdown or using time. As such, the hedge total lot size should be enough to offset the DD or in the case of time, when the specified time (for instance, after 1 hour) is met, hedge to offset. This means that if I have 2 loosing trades, then I'll either open 2 hedging trades with slightly higher lots (calculated based on the time elapsed), or I'll open 3 trades (if I have only one loosing trade, it's 2 and if I have 3, it's 5) at the original lots. You can either open multiple hedging positions or open positions in relation to each original loosing trades. The take profit system should then kick in to close original loosing trades at either a Breakeven or slight profit. For instance, if all 3 strategies open a loosing trade, then, 3 or more hedging trades should be opened after a drawdown or time is hit. When the hedged trades show a net profit that is equal to or higher than the original loosing trades, then close all loosing orders+hedged trades.
As for hedging for profit, please implement something better than https://www.mql5.com/en/articles/1479
You can use the correlation indicator or any indicator you feel is best.
Things to note;
the hedging system acts on net profit/loss. So if the net of original is profitable, and hedge for profit is false, then it wouldn't hedge.
If both phases are true and there are both original loosing and profitable trades, then loosing trades are offset by the take profit money management system on the profitable hedging trades. The profitable hedge trading will keep going until original trades are closed or the take profit system is active.
There's no point opening 3 trades from the same hedged currency pairs. I would prefer opening from 3 different pairs that share one of the current symbol. For instance, EURUSD chat will have 3 or more different hedge pairs of either focused on EURAUD, EURCAD, etc or USDCAD, etc.
Hedging using time affects hedging for profit. This is because hedging for profit needs to wait a bit before starting.
I also want to have an input settings that stops trading 3 hours(input) before the end of the day session or the end of the week session (input).
Things to note;
The hedging system should become very aggressive as it gets closer to final time (input time of 2 hours before final closing time). Essentially, close all positions on profit at final closing time and don't open new ones. However, if there's still a loss, 2 hours (input for aggressiveness) before the final closing time, the hedge becomes aggressive so as to close on positive at final closing time.
There can still be negative closing but can only close 50%(input) of total profit for the duration selected. For instance, if I select day and I make $20 then I can make a loss of $10.
Finally, please know that all of these systems works in cycles. This means that the systems are in response to the original trades. If there are no original trades, then the hedging system doesn't work. Also, it would be great if you make your codes easy to follow. I change the indicators and such so I'll need to understand what's what so that I can change indicators where necessary. I'll also send you the EA and custom indicators after we agree on everything.
P.S. I intend to convert the mql4 EA and indicators to mql5 if it's done well. You can let me know the price of that too and I'll create a new job once again.
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