i have been testing many EAs but sincerely i am inclined more towards bless5th than any other. Maybe the reason is due to the fact that you are indefinitely in the market.
well, having said that i request all experienced traders to please help in this project.

the hedge function in the existing bless5th will not work because it is too static.
When it opens a hedge on the last level it simply reverses the TP and sl.
That is the sl of the losing arm becomes the tp of the hedge and the tp of the losing arm becomes the sl of the hedge.
well either way you will come out with a loss when all is said and done.

I was thinking of a dynamic tp and sl for both the losing arm and the hedge.
Beacause once the hedge is placed you dont know which way the currency will go.

to give more details i was thinking of something like this.

the lot for the hedge is the cumulative size of the losing arm and the tp and sl becomes dynamic. Meaning is price moves towards the tp of the hedge it must move away to allow for more pips and if price moves towards the tp of the losing arm then that tp moves away to allow for more pips. the idea is to get positive result from the hedged status.

please give feedback .
all welcome and all appreciated.
thanks
teldon

the dynamic tp and sl will only be activated when the hedge has been activated and it will keep on moving until at least breakeven.

Teldon

I share you interest in FX hedging. Check out Bob LLewellyn, the single bust I've found dealing with hedging.

forex_assistant : Forex-Assistant

Let me know what you think

Jeff
In VA
aka Patch the Pirate

thx , i have checked it out .
still looking for answers and or suggestions.

may be you could post some kind of hchart or example to clarify your idea.

thanks

here is the EA.
Look at the codes....esp the hedge function....
eg .... you set your max trade @ 7 ....
When the losing arm reaches 7th level it will open a hedge order....and at the same time the hedge order will have a tp and sl while the losing positions will have a tp and sl ...... these are static levels ..... alll i want is those 2 levels to dynamic based on some logic.....
please read the 1st post for detailed example.
thx

Attached Files

Bless[1].FifthE.TK.2.0.mq4 (21.4 KB, 40 views)

i think the simplest hedge is put two position, stop buy and stop sell. when one position hit, the other should be closed. this happens again and again....?