Hedging forex robot idea

ALL IS EXPLAINED IN THE VIDEO BELOW.

This is a simple Hedging Idea I would like to be coded into a forex robot. Explanations are in the video. Comment to ask for clarification.
Sorry the audio seems to be lagging behind the video some few seconds. (Free software sometimes can be a pain...)

Try this

Thanks AutoT!!

I am back testing now. I'll give the feed back ASAP!

No problem

@AutoT, you need to provide the mq4 file, otherwise how does programmer about to check it ?

thank you for the EA I will try it and post the results.

No problem

can you post the mq4 file?

No

Is there an expiry date or restriction on the EA @AutoT

@cdsaa: Yes, you can't use it on live

This is another simple Hedging Idea I would like to be coded into a forex robot.

New Idea:

It is a very simple strategy which works with the Bollinger Band, 2 of them.

This is the strategy: (it works on any timeframe)

1st BB settings: Period: 25, Std: 2.5
2nd BB settings: Period: 10, Std: 1.2

Rules for buy (long):
1. Price has touched the 1st BB outer band (not the middle MA line)
2. Candle (price) closes ABOVE (for buy) the 2nd BB middle MA line.
3. Imaginary stop loss is the lower band of the 2nd BB at entry level. This is the hedging level.
4. Entry immediately at candle close above 2nd BB middle line. Entry lot size will be 0.5% of account using entry level and imaginary SL as pip range for lot calculation.
5. A pending limit order the same lot size as the entry lot size will be placed 61.8% between the entry and the imaginary stop loss level (38.2% below the SL level).
6. The take profit is the same as the pip size from entry to imaginary SL. Thus 1:1 Risk reward ratio.


Rules for sell (short):
1. Price has touched the 1st BB outer band (not the middle MA line)
2. Candle (price) closes BELOW the 2nd BB middle MA line. Entry immediately at candle close.
3. Imaginary stop loss is the upper band of the 2nd BB at entry level. This is the hedging level.
4. Entry immediately at candle close below 2nd BB middle line. Entry lot size will be 0.5% of account using entry level and imaginary SL as pip range for lot calculation.
5. A pending limit order the same lot size as the entry lot size will be placed 61.8% between the entry and the imaginary stop loss level (38.2% below the SL level).
6. The take profit is the same as the pip size from entry to imaginary SL. Thus 1:1 Risk reward ratio.

There is no Stop Loss for this strategy but hedging to recover loss.

The imaginary SL is the price level at which hedging will begin.
Hedging is done by selling 3 times the lot size for 1% account (3%)
(from entry to imaginary SL pip range) (that is: 6 X 0.5% === first lot size).
If price triggers the first hedging, the second lot size for the second hedging will be at first
entry, and it will be double the previous (first) hedging lot size [that is: 2*(6*0.5%)].
The next (3rd) hedge will be double the second one, and this should repeat until there is
margin call or profit booked.

Very simple.

I have added picture with explanation to help.

It is even more beautiful on a Renko and CRB chart!