Recovery Zone Hedging EA

MQL4 Experts

Job finished

Execution time 2 days
Feedback from customer
Wonderful programmer, very fast, almost always online. I will hire him for further projects.
Feedback from employee
good customer and the potential for EA development is still broad

Specification

I need an EA that can do zone recovery trades at grid level I define. Its very popular strategy to recover a loss.

let's say I manually entered the market with a "buy market" position with 1 lots and stoploss is =200 points and TakeProfit=400 points.  Then I will attach your EA and EA will Cancel the stoploss and  EA places a pending "stop sell" order to hedge your position instead of a Stop Loss. 


At this point, two scenarios are possible:

Scenario 1: Market moves up (without reaching pending sell stop) and hits our Take Profit. The trade is closed and EA is expired.

Scenario 2: Market moves down and reaches pending sell stop. A trade to the opposite direction is opened with different lot size( I will define the lots of each grid in an EA setting). Again, for this order a pending order is placed hedging the new position. A new Take Profit is determined for all trades. This procedure is repeated with any change in market direction unless the Take Profit is hit and all trades are closed .

Workings:

1, I will place a trade manually with stoploss  so the entry price and stoploss price will be the grid level.

2, Then I will attach the EA and your job of the EA is to pick the existing trade then remove the stoploss from the trade I placed manually and instead of stoploss place pending sell stop order if the initial trade is buy or pending buy stop order if it is a sell order to kick start the grid.

3, Once the pending sell stop order or pending buy stop order is triggered then the grid is activated then EA will place buy stop or sell stop at each grid with take profit and stoploss for each order.

4, Once the grid is activated then the take profit of buy trades will be stoploss for sell trades and vice versa.

5, if the buy stop pending order is triggered then EA should place a pending order of sell stop at the opposite grid. ( that’s obvious)

6, I will define the value of grid lot sizes ( give me option for 10 grids).

7, I will also define take profit in related to grid size. Let say if the grid size is 10 pips then the take profit will be 20 pips that is 2x. Give me the option to define the value in accordance to grid size.

8, Once the tp on either side is hit my whole basket of trades are closed and EA should close.

9, I would need a friendly dashboard where I could see the lot sizes of each grid etc.


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Project information

Budget
100 - 150 USD
For the developer
90 - 135 USD
Deadline
from 1 to 2 day(s)