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Hedge Trade-panel

Quoting Nicholishen
I know, I know... we've all said it before, hedging is f*** stupid because it costs you double in fees, right? Well that's actually not (always) the case. There's a neat little hidden gem in MT that's almost entirely undocumented and almost never used by developers (ever) that's called OrderCloseBy. What this function does is takes hedged orders and reconciles the transactions as netted. This allows you to do some neat things we'll talk about in a minute, but for now it's important to understand that if you use this method you are not charged double...
@Nicholishen: The best trade Panel I' ve ever seen! Thank you
Quoting Nicholishen
In case anyone is interested, here is the logic for reconciling all hedged positions as netting....
Thanks for this one
Intelligence is the ability to adapt to change. -- Stephen Hawking
  • Post #63
  • Quote
  • Edited at 6:15pm Apr 5, 2018 4:47pm | Edited at 6:15pm
Quoting Nicholishen
In case anyone is interested, here is the logic for reconciling all hedged positions as netting. void ReconcileHedgeOrders() { for(int i=OrdersTotal()-1;i>0&&!IsStopped();i--) { if(OrderSelect(i,SELECT_BY_POS) && OrderSymbol()==_Symbol && OrderType()<2 && (!m_locked_magic || OrderMagicNumber() == MAGIC) ) { int type = OrderType(); int ticket = OrderTicket(); for(int j=i-1;OrderSelect(j,SELECT_BY_POS);j--) { if(OrderSymbol()==_Symbol && OrderType()<2 && OrderType()!=type && (!m_locked_magic || OrderMagicNumber() == MAGIC) ) { if(!OrderCloseBy(OrderTicket(),ticket))...

Hi Nicholishen,

Just made a script out of your shared code for reconciling all hedged positions as netting...
Warning: Not fully tested.

Attached Image

Attached File
File Type: ex4 FXV_Close-Orders-On-Chart.ex4   199 KB | 450 downloads


regards...



For noobs: put the script under " /MQL4/Scripts" folder
Intelligence is the ability to adapt to change. -- Stephen Hawking
Sorry for the newbie question.
I didn't understand what mean "reconcile" "netted"?
Let say for example I have 1 lot buy and 1 lot sell.
What will be the result of the EA and script for closing all trades?
Thanks
Quoting Merka
Sorry for the newbie question. I didn't understand what mean "reconcile" "netted"? Let say for example I have 1 lot buy and 1 lot sell. What will be the result of the EA and script for closing all trades? Thanks
Netted - Orders that are technically closed in net position, but still show up as open (and separate) orders on the platform. Example: order1: buy 1 lot [in], order2: sell 1 lot[out]

reconcile - send the closeby command to the broker server to tell it to reconcile the netted orders as one position [in,out] rather than two separate positions.
Quoting Nicholishen
{quote} Netted - Orders that are technically closed in net position, but still show up as open (and separate) orders on the platform. Example: order1: buy 1 lot [in], order2: sell 1 lot[out] reconcile - send the closeby command to the broker server to tell it to reconcile the netted orders as one position [in,out] rather than two separate positions.
Thanks Nicholishen

Your trade panel is suitable for only intraday trades or is useful also for trades carried over some days?
I use Oanda and I'm changed only the spread + rollover fees because my trades last 3 or 5 days on average so I'm trying to understand if "OrderCloseBy" is useful in my case.

Thanks
Quoting Merka
{quote} Thanks Nicholishen Your trade panel is suitable for only intraday trades or is useful also for trades carried over some days? I use Oanda and I'm changed only the spread + rollover fees because my trades last 3 or 5 days on average so I'm trying to understand if "OrderCloseBy" is useful in my case. Thanks
Ordercloseby only works on a broker who allows hedging and I don't think that Oanda offers any hedging accounts.
Quoting Nicholishen
{quote} Ordercloseby only works on a broker who allows hedging and I don't think that Oanda offers any hedging accounts.
Sorry I forgot to mention that I have an hedge account with Oanda.
Quoting Nicholishen
I know, I know... we've all said it before, hedging is f*** stupid because it costs you double in fees, right? Well that's actually not (always) the case. There's a neat little hidden gem in MT that's almost entirely undocumented and almost never used by developers (ever) that's called OrderCloseBy. What this function does is takes hedged orders and reconciles the transactions as netted. This allows you to do some neat things we'll talk about in a minute, but for now it's important to understand that if you use this method you are not charged double...
Have you thought about automating the entries?
Quoting carddard
{quote} Have you thought about automating the entries?
This isn't a system or a strategy, it's a tool to assist manual traders with making smarter positions.
Hi Nicholishen

I'm trying your tool on Oanda Hedge demo account but it look like is not working as per pictures below.
Do you know why?
Thanks
Attached Images (click to enlarge)
Click to Enlarge Name: Untitled 24-04-2018.png Size: 66 KB Click to Enlarge Name: Untitled 1 24-04-2018.png Size: 77 KB
Have you tried with other brokers (if you have any)? Worked on my hotforex platform, there could be an installation problem
  • Post #73
  • Quote
  • Edited at 5:27pm Apr 24, 2018 4:35pm | Edited at 5:27pm
Quoting available
Have you tried with other brokers (if you have any)? Worked on my hotforex platform, there could be an installation problem
Hi
I'm wondering if the problem is related to be a demo account.
I will try on other brokers as well.
Your hotforex account is it demo or live?
Thanks

Update: Just opened a hedge demo account on "XM" and all is working properly
This tool uses hedging, and as such will not work with a broker that does not allow hedging, ie. Oanda et al.
Quoting Nicholishen
This tool uses hedging, and as such will not work with a broker that does not allow hedging, ie. Oanda et al.
My Oanda account is definitely an hedge account as you can see from picture I have buy&sell trade opened at the same time and on the same instrument.
I don't know why is not working on Oanda but likely is working on XM that offer a higher leverage of 500:1 as well.
Thanks for your tool.
any one can help me with working one thanks
Quoting Nicholishen
I know, I know... we've all said it before, hedging is f*** stupid because it costs you double in fees, right? Well that's actually not (always) the case. There's a neat little hidden gem in MT that's almost entirely undocumented and almost never used by developers (ever) that's called OrderCloseBy. What this function does is takes hedged orders and reconciles the transactions as netted. This allows you to do some neat things we'll talk about in a minute, but for now it's important to understand that if you use this method you are not charged double...

awesome tools...mind to share mq4 ? thanks
Quoting f3n_dy
{quote} awesome tools...mind to share mq4 ? thanks
I would share the source as long as you promise to openly share any modifications you make, deal?
Quoting Nicholishen
{quote} I would share the source as long as you promise to openly share any modifications you make, deal?
Deal!
Quoting Nicholishen
{quote} I would share the source as long as you promise to openly share any modifications you make, deal?
ok deal...i am not a coder..but i have some idea..if you think its good..lets develop it
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