Easy Hedging EA

I am in need of an EA that will open orders based on certain parameters. The EA logic is very straight forward. This will be a Hedging EA in nature. Parameters are:

Current or New Order = This means when starting the EA, will it use last order placed in terminal or wait for new order. (true or false may work here)

Hedge at X Pips = Loss of pips before order is opened in opposite direction

Take Profit =

Stop Loss =

Here is an example of the logic.

I open a EUR/USD buy order with 20 TP and 0 SL.

If order hits TP, then original order closes (normal function of terminal) but EA will open a new order in same direction with same parameters (so in this example, after the original order closes at TP, the EA would then open another EUR/USD Buy order with 20 TP and 0 SL).

Or

If EUR/USD is down 30 pips (Hedge at X Pips), then Open EUR/USD Sell order with same parameter (20 TP, 0 SL). However this will “not” close the previous buy open position.

So the “Hedge at X Pips” parameter acts almost like a SL in that when the trade is at a “30 pip” loss instead of closing out the losing trade, the EA will open a trade in the opposite direction.

Rules:

Unless a SL is specified, orders are to remain open forever until the TP is reached or I close them out manually.

The EA rules only applies to the “last” trade opened. So an order that was placed in a past that hits TP or the Hedge X should “not” be opening another order. 

This would be an endless cycle until the EA is stopped.