Magic Hedge EA
How Magic Hedge works
control the support/resistance indicator. It's best to leave them in default
So when the market goes against the trade by MartingaleInitiateThresh points, the martingale is initiated.
Every MartingaleDistance against the trade will cause a martingale position to be posted, and if the martingale group enters a profit of MartingaleProfit points, the group is closed.
Also MaxMartingaleSeriesLength sets the maximum allowable number of martingal positions.
The hedge is used only during martingale. So basically, if the martingale goes into a drawdown by HedgeInitiateThresh points, a hedge position of HedgeLotsPercent is opened, where HedgeLotsPercent is a percentage of the total lotsize of th martingale group.
The hedge is closed upon gaining HedgeForwardProfit points of profit. Now after this point, if the martingale group goes into an additional HedgeDistance points drawdown, another hedge is opened.