All orders
Rules
Specification
I am looking for an EA to manage the initial creation and managing of a hedged grid on currency pair of chart it is placed on.
At EA initiation a user selected number of pending orders (user defined which of buy stop, sell stop, buy limit, sell limit) will be placed at a user defined distance from current price and at a user defined grid spacing. SL/TP set by inputs (0 for disabled).
As price moves away from starting point, grid will fill itself with pending orders when price has moved grid distance away.
If
and when orders are closed manually or by modified stops, pending stop
orders (same direction) will be replaced at those grid locations if
price allows.
Example:
USDJPY is trading at 100.00
User stipulates starting point above price of 100.50 and below price of 99.50.
User stipulates 100 pip grid size and 3 buy stop and 3 sell stop
EA places pending buy stop orders at 100.50, 101.50 and 102.50. Also places pending sell stops at 99.50, 98.50 and 97.50
Price moves up to 100.50... buy order is triggered, new pending buy stop is placed at 103.50. Price continues up to 101.50 and another buy is triggered and new pending buy stop at 104.50. At this point a new pending sell stop is also placed at
100.50 If price rises to 102.50 and order triggers new pending buy stop at 105.50 and new pending sell stop at 101.50 is placed.
Suppose user manually closes buy order at 100.50. New pending buy stop order at 100.50 couldn't be placed as current price is above. However, if price were to drop to 99.50 (1 grid space below gap) then new pending buy stop would be placed at 100.50
So basically a grid of (in this case) stop orders or open positions is maintained based on spacing and number selected by user inputs. If any open orders are closed then new pending orders are inserted when pricing allows based on selected grid conditions.
This is a re-posting of an earlier job request