2 expert advisors required, both have the same hedged grid strategy, able to use on aud/usd 5 min chart.
Both need to have a buy or sell position triggered (based on certain requirements as discussed) when price moves 5 pips in either direction,
e.g. 0.78740 - 0.78790 = 5 pips.
Both need to have adjustable lot size parameters, and start with 0.1 lots, but no increasing or decreasing.
The first ea will have a stop loss implementation on every trade, but no take profit.
- starting with a buy/sell hedge when the ea is initialised, when the price drops/gains 5 pips, another position will be placed to replace the stopped out position.
- e.g. as the price drops/gains 5 pips, a stop loss will occur on the losing trade, closing it out. This will trigger a replacement trade.
- e.g. price drops 5 pips, so the buy position stop loss is triggered. Another buy trade will be placed to replace the stopped out buy trade.
each time a stop loss is triggered, another position is entered to replace the closed trade.
There is no take profit on this first ea. It will run with 5 pip trade intervals, stopping out losing trades every 5 pips, and replacing the losing trade with a new one.
The second ea is exactly the same as the previous one, except that there is a take profit on every trade, but no stop loss.
- start with a buy/hedge when the ea is initialised, when the price drops/gains 5 pips, another position will be placed to replace the take profit position.
- e.g. as the price drops/gains 5 pips, a take profit will occur on the winning trade, closing it out. This will trigger a replacement trade.
- e.g. price gains 5 pips, so the buy position take profit is triggered. Another buy trade will be placed to replace the take profit buy trade.
each time a take profit is triggered, another position is entered to replace the closed trade.
There is no stop loss on this second ea. It will run with 5 pip intervals, taking profits at every 5 pips, and replacing the winning trade with a new one.
The first ea is called stop loss, the second one is called take profit.
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*MQL5 Bot: “HH_HL_Simple.mq5”* Copy → Paste → Compile in MetaEditor. //+------------------------------------------------------------------+ //| HH_HL_Simple.mq5 | //| WARNING: FOR EDUCATION/DEMO ONLY. YOU CAN LOSE MONEY. | //| @kasii_trader_nela - Learn first, trade later | //+------------------------------------------------------------------+ #property copyright "Educational use only" #property strict #include
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