Overview of the Strategy
The main strategy will be hedging trades of similar lot sizes on EUR/USD (or any other pair).
The idea is to start with two trades, Buy and Sell of 0.1 lots each.
The positive trade will close at profit at a certain X distance set in parameters or at any SR level defined by horizontal lines manually. Blue line for resistance and red line for support. At the same time, upon closure of profit trade, a pending stop order will open at the gap of x pips for hedging.
If price reverse, EA will keep deleting the pending order and opening a new one to grab more profit and reducing the hedge distance.
When a profit trade will close, 80% of the profit will be used to offset losing trade by partially closing it. I will explain in details in below lines with example.
This will keep repeating until the price will reverse to the original losing trade and will close it at the breakeven and also delete the pending order and start a new cycle with Buy and Sell trades.
For details, please see attached file.
Similar orders
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All orders
Rules