Hedging EA with custom indicators

Indicators used:

·         Custom Indicators (have .ex4 file for all):

o   Bulls & Bears

o   HA Bars

o   Timing Histogram

o   Trigger Zones

o   Sessions

o   Super Signal

o   Color_ma (yellow line)

·         Built in indicator:

o   RSI

o   100 EMA

Strategy:

·         On M15 timeframe

·         Should scan the market for the right opportunity

·         Spread should be less than 20 points (or 2 pips)

·         No trading during high impact news (30 minutes before and 60 minutes after)

Buy Conditions:

·         Price should be above 100 EMA

·         Use of super signals (buy signal is given when Bulls & Bears, HA Bars and Timing Histogram all turn blue):

o   Buy signal and first move of price above yellow line.

o   Wait for pull back and a sell signal

o   Price should not break the yellow line i.e. the new candle should not open below the yellow line. If the candle opens below the yellow line – void the buy condition and start looking for selling signals.

o   After pull-back PLACE BUY on the next buy signal for 0.01 lots (Order # 1).

·         Exit conditions

o   Place initial target of 1000 pips

o   Trailing stop loss of 10 pips

o   Trailing step of 5 pips

o   SL to be 5 points lower than the last candle below the yellow line.

·         Hedging condition

o   If the price does not move in the desired direction and we have a sell signal.

o   If the buy order is in profit – close the order and ignore the below steps.

o   Place a sell order for 0.03 lots (Order # 2).

o   Calculate the difference between the price of buy and selling order.

o   Set target at the difference price + 2 pips

o   Modify Buy SL to the same target price of sell.

·         Double hedge:

o   If the price does not reach the targeted price after triggering sell.

o   Wait for buy signal. Close the sell order at profit / loss on the buy signal.

o   Open a buy order at 0.03 lots (Order # 3) with a SL on the low of the last 3 candles.

o   Exit 0.01 lots at the break even price of order # 1.

o   Continue holding 0.03 lots till you get the sell signal and exit all.