Simple Hedging EA

An MT4 EA needed to automate filling out pending's/additional hedge trades for when price goes opposite to profit direction. Subsequent trades to the first trade will use an offset for entry (for the hedge side) from first trade open price, but the same stop loss and take profit values of the first trade, but with an increase in lot size so that profit of the first trade is maintained (similar to martingale). Price may go up and down from open so up to 10 hedge trades required in the sequence. User to determine how many in the sequence before loss/stop moved to breakeven. To maintain profit a multiplier for each subsequent trade (for position size) from the first is needed as manual inputs (user to calculate). First entry will be at 'market price' with user input stop and take profit values.

Additional features:

First entry position size based on manual lot size or % of account.

Spread filter

Break even

Invisible stops

ECN compatible

Notifications

Edit:

First entry direction is done with user reference to a trend indicator. I wish to manually enter the first trade, but in future the indicator can be incorporated (further development) to fully automate.