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The Expert Advisor is used for breakout systems within a
given trade range. It gets a lower and upper boundary in a market as presets.
When activated on that market an das soon as the price reaches the upper
(lower) boundary, the EA will go long (short) with a predefined lot and set a predefined
take profit (TP).
Now there are two cases that can occur:
a) Price reaches TP. In that case, a predefined partial lot is sold and the
remainder get a fixed size trailing SL.
b) Price goes in the opposite direction and crosses the opposite boundary. Here
a second position is opened on the opposite side with a multiple size of the original
lot size.
This back and forth between Steps a) and b) goes as long as the TP does not
fully close all open positions AND the hedge mode is not active. The Hedge Mode
is activated by the user or the EA (after X trades without reaching the TP) and
buys another lot so the cumulated positions are set to neutral until the Hedge
is resolved at a later time by the user. Resolving means the last added
position is removed again and the swings continue until TP is reached or the
Hedge is activated again by the user.
As an additional safety measure Server-SLs with a preset distance should be placed outside of the boundaries on each side with a preset distance. These close all open positions and prevent the trade to run with unlimited risk in case of MT/EA/Connection/Hardware failures.
I have more detailled instructions of the above short description I will be happy to hand over to you.
If this is something for you, please come back to me with your questions or an offer. If you have any EAs in the marketplace with reviews plese tell me.