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Specifiche
Hi Coders, i would require this strategy as an EA for MT5.
My condition is:
1. EA can be trade with any instrument, in particular major and minor FX pairs, US30 and XAUUSD. I will need to be able to adjust the pips value in the EA/codes. Reason: Instruments like US30 and XAUUSD need to work with pip range that are larger.
2. EA will not open any trades.
3. EA to only assist to open the following pending order : like Buy Stop/ Sell Stop/ Take profit/ Stop Loss according to the hedging plan attached.Thats it!
https://www.dropbox.com/s/10g9dx1his2ng5k/Sure-Fire_Forex_Hedging_Strategy.pdf?dl=0
In more details as accordingly to the PDF.
Initial Manual Trade: when I execute a manual Buy trade on USDJPY, the EA will automatically set a TP of 30 and a stop loss of 60 pips.
1 stHedge Pending Order: At the same time once the manual trade is executed, it will place a Sell Stop just 30 pips below the manual trade with a lot size 3 times of the manual trade. The SL and TP will be the same price based on the manual trade.
2 ndHedge Pending Order: Once the Sell Stop is executed, the Buy Stop will be activated with a lot size 2 times of the previous Sell Stop. If the Buy Stop is activated, again the TP/SL will be the same based on the manual trade
This will continue so on and on, referring to point 5 of the pdf with a lot multiplier of initially 3 and then 2 all the way.
However, If at any point of time, once the TP/SL is hit, all pending orders will be removed. This will also apply when the manual trade is closed manually.
The above example is for USDJPY, but when I am trading US30 or XAUUSD, I will need the EA to set a TP of 300pips and a SL of 600pips. So, I’m looking for an easily way to how I can adjust this part by adding an addition 0 behind to the code.