Hedge function for existing EA & Trailing stop for open positions if TP level is reached.

MQL4 Experts

Job finished

Execution time 4 days
Feedback from employee
Happy to work with you Oscar, hope we can do it again next time.
Feedback from customer
My first time working with a freelancer here, Billy was a pleasure to work with. Very fast and highly skilled. My EA is greatly improved. Will work with him again and I can highly recommend him.

Specification

Dear all,

I'm new to, but learning, MQL4 coding. I've created a very simple EA that I'm quite happy with. But I'd like to pay for some help with a few more complicated (at least for me) functions. I really want to improve my coding skills so I'd appreciate well-commented code. That way I can learn.

Please note that this EA is only aimed at short positions

What I'm looking for is to extend my EA with the following:

1 - Hedging short positions

  • I wish to prevent margin calls and negative liquidity/ equity fluctuations if a short position temporarily moves against me. 
  • I'd like to profit from the hedge position if my short position gets stopped out and the price keeps moving up. 

Specifically: 

  1. I'd like to have an input variable called something like "input double HedgeCost=10.0;"
  2. Every time my EA opens a short position, I'd like a buystop order to be placed at a level of the OpenSell price + HedgeCost. In this example, the buystop order would be triggered when the bid price reaches 10.0 PIP's above the OpenSell price).
  3. When the price moves down, I'd like the hedge position to be closed at OpenSell price - HedgeCost. And again, another BuyStop order should be placed, at OpenSell price + HedgeCost. So if the price moves up again, my short position will be hedged again.
  4. When my short position is closed by Take Profit or any reason except Stop Loss, I want the BuyStop order to be canceled.
  5. If my short position is closed due to a stop loss, the hedge position should be modified and a trailing stop should be placed at the exact level of where my short position got stopped out.

I also would like this hedge function to really attach to the ticket number. Because in the future, my EA may open several positions, and all of these need to be hedged. So it won't work if the hedge order is triggered by looking at the total open orders, it has to really check any open short position that hasn't got a hedge Buystop attached to it. And then hedge those that don't. 

 

2 - Trailing stop when TP is reached

I think this is relatively simple. Again I'd like to learn how to do this, based on your code.

  1. I'd like an input variable called something like "input int TrailingRange=3"
  2. When my short position almost reaches it's TP level, I'd like an OrderModify to happen so that the TP is removed and a trailing stop loss is put into place at the TP - TrailingRange level.
Thank you in advance and I look forward to your offer/ reply.

Best regards,

Oscar. 

Responded

1
Developer 1
Rating
(121)
Projects
134
66%
Arbitration
36
25% / 56%
Overdue
22
16%
Free
Published: 10 codes
2
Developer 2
Rating
(53)
Projects
74
26%
Arbitration
30
10% / 63%
Overdue
22
30%
Free
3
Developer 3
Rating
(12)
Projects
17
29%
Arbitration
6
17% / 67%
Overdue
4
24%
Free
4
Developer 4
Rating
(258)
Projects
396
28%
Arbitration
70
19% / 49%
Overdue
121
31%
Free
5
Developer 5
Rating
(107)
Projects
149
36%
Arbitration
29
3% / 55%
Overdue
35
23%
Free
6
Developer 6
Rating
(97)
Projects
121
25%
Arbitration
5
20% / 60%
Overdue
17
14%
Free
7
Developer 7
Rating
(76)
Projects
136
45%
Arbitration
11
27% / 64%
Overdue
26
19%
Free
Published: 5 codes
8
Developer 8
Rating
(89)
Projects
137
24%
Arbitration
35
9% / 40%
Overdue
52
38%
Free
Similar orders
The bot should open trades when the price breaks out of the band by a specified percentage, for example, 0.10%. If the price breaks above the band, the bot should open a long position. If the price breaks below the band, it should open a short position. The bot should also open trades when the price touches a band: Bullish band cross: When a bullish cross occurs between the bands, the bot should open a long position
I want to create an EA that will take trades according to a trading zone condition. The logic will start with the identification of a trading zone for BUY and SELL in the EA. After the trading zone has been identified, then the EA will use the current time frame prices to determine if the market will be a BUY or SELL. The market will be a BUY if the low price range goes above the lowest price after the installation
I want to create an EA that will take trades according to a trading zone condition. The logic will start with the identification of a trading zone for BUY and SELL in the EA. After the trading zone has been identified, then the EA will use the current time frame prices to determine if the market will be a BUY or SELL. The market will be a BUY if the low price range goes above the lowest price after the installation
Project: MT5 Expert Advisor — Dual-Sided Hedging Grid with Fibonacci Lot Progression I need a custom Expert Advisor (EA) developed in MQL5 for MetaTrader 5. 1. Trading Strategy The EA must open both Buy and Sell market positions when a new trading cycle starts, provided the broker account supports hedging. The EA must manage the Buy and Sell directions independently. When the market moves downward against the Buy
I’m looking for an experienced MQL4/MQL5 developer with proven expertise in genuine high-frequency trading (HFT) or ultra-fast scalping Expert Advisors. Project requirements: Develop MT4 and MT5 versions with complete source code and no restrictive licensing. Implement fast execution, selective entries, and rapid trade exits. Support XAUUSD, EURUSD, GBPUSD, and BTCUSD. Include robust risk controls: stop-loss
Hello everyone, I am looking for an experienced MQL4/MQL5 developer with proven expertise in developing high-performance scalping or high-frequency trading (HFT) Expert Advisors. Project requirements: Develop a fast, robust automated trading EA for MetaTrader 4 and MetaTrader 5. Focus on ultra-short-term scalping, selective entries, and rapid trade execution and exits. Support XAUUSD, EURUSD, GBPUSD, and BTCUSD
Hello everyone, I am looking for an experienced MQL4/MQL5 developer with proven expertise in developing high-performance scalping or high-frequency trading (HFT) Expert Advisors. Project requirements: Develop a fast, robust automated trading EA for MetaTrader 4 and MetaTrader 5. Focus on ultra-short-term scalping, selective entries, and rapid trade execution and exits. Support XAUUSD, EURUSD, GBPUSD, and BTCUSD
Hello lovies, I’m reaching out because I’m working on a specialized macroeconomic intelligence service focused on major economic releases and their potential impact on gold (XAUUSD), the US dollar, and the wider financial markets. My approach goes beyond simply following the economic calendar. I focus on understanding the information behind upcoming events, market expectations, and the potential implications for
Se tiene 2 Meta Trader 5, metar trader5 A ( master) meta trader 5 B ( slave) En el A se esta ejectunado algunas operaciones, dodne suele abrir multiples levels de ordenes, de sell y buy simultaneamente. Se necesita un EA, colocados tanto en el Master para enviar al SLave la copia de los trades , pero unicamente se va activar la copia, cuando en el Metatrader Master, "A" lleguie a un N levels de buy o M levels de
MT5 Expert Advisor Development Brief — Forex Project objective I am looking for an experienced MQL5 developer to build a bespoke, fully automated Expert Advisor for MetaTrader 5. The EA will be used on both proprietary trading firm (prop-firm) accounts and my own live trading account. My priorities, in order, are: 1. Low drawdown and robust risk management. 2. Consistent, repeatable profitability. 3. Reliable

Project information

Budget
10 - 50 USD
Deadline
from 1 to 3 day(s)