Hedge Trade-panel | Page 16 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Free Panel To Place Trade Orders 10 replies

Need trade management panel indicator 0 replies

Need recommendation on Panel/EA to place Hedge order 0 replies

Trade Opportunity Panel - WSS 0 replies

Hedge strategy (not a hedge fund) 13 replies

Attachments: Hedge Trade-panel
Exit Attachments

Hedge Trade-panel

  • #301
  • Jul 19, 2020 10:18pm Jul 19, 2020 10:18pm
Bill, when using Revers button does EA continue to manage trades, wheras Hedge button it doesn't?
  • #302
  • Jul 20, 2020 12:31am Jul 20, 2020 12:31am
wow... just read the whole thread...
what a great and generous contribution!

I downloaded 35, force downloaded history, double checked correct symbols, on Darwinex live... CHFJPY & USDCAD.

getting the error: zero divide in marketdistance.mqh (74,69)

and unresponsive buttons...

read the manual, and I think I've followed correctly.

I'll try it on Axi and see what happens...
  • #303
  • Jul 20, 2020 1:05am Jul 20, 2020 1:05am
Quoting doyathink
wow... just read the whole thread... what a great and generous contribution! I downloaded 35, force downloaded history, double checked correct symbols, on Darwinex live... CHFJPY & USDCAD. getting the error: zero divide in marketdistance.mqh (74,69) and unresponsive buttons... read the manual, and I think I've followed correctly. I'll try it on Axi and see what happens...
Make sure the currency pairs listed in the EA settings actually exist in your MT4
because some brokers don't support all of them or use different naming.
Check the special instrument inputs too.
Have a nice day
  • #304
  • Jul 20, 2020 2:26am Jul 20, 2020 2:26am
axitrader same thing...
force downloaded...
default settings except changed GBPUSD to GBPUSD.pro to match Axi's suffix...

This showed up after first loading:

2020.07.20 00:07:25.584 HedgeTradePanel35 GBPUSD.pro,M1: zero divide in 'marketdistance.mqh' (79,40)

no response from the buttons.


I had FXBlue trade copier running, but closed the chart, restarted terminal, and same result...
  • #305
  • Jul 20, 2020 2:30am Jul 20, 2020 2:30am
removed all pairs except GBPUSD.pro, removed all special pairs...

same result
  • #306
  • Jul 20, 2020 2:43am Jul 20, 2020 2:43am
Quoting doyathink
removed all pairs except GBPUSD.pro, removed all special pairs... same result
You said that you've read the whole thread and yet you get stuck on something which has been discussed before.
Unfortunately this EA does not support currency pair names which have special characters or letters and words attached to them.
I suggest you get a different broker which has a plain vanilla currency pair name like GBPUSD.
Alternatively, you can download and use V17 or earlier.
Have a nice day
  • #307
  • Jul 20, 2020 3:00am Jul 20, 2020 3:00am
I did try Darwinex which has no suffix first, before Axi...

I'll try 17, then, thanks...

cheers!
  • #308
  • Edited 2:31am Jul 24, 2020 2:08am | Edited 2:31am
New Version 37 :

1. I added a new function: Automatic Hedging + SL
When the input Automatic Hedging Plus SL =true
the EA adds to our trade the SL specified in input defaultSL=10
but when price gets close to triggering the SL, the EA deletes it

This function works together with the autohedging function.
and the SL is deleted in anticipation of the trade being hedged.

I introduced this feature because I don't normally use a stop loss ,
I allow my trades to be hedged and I recover them manually at a later time.
The hedging technique is working fine for me BUT I want my trades to have a default SL
in case I lose connection with the broker's server.
(eg it can happen that the broker's server is not responding)

2. I changed the currency pair format for the input "Pairs to Trade"
I did this because some brokers use a suffix after the currency pair name
and also because some people enter the wrong character between currency pair names
(wrong separator: dot instead of comma and the EA will produce a " zero divide" error) .
So from now on, (V37 on wards) we will be using a semicolon ; as a separator between currency pairs
If you intend to use V37 and above, and you load an old set file (created by previous EA versions) you will get an error. Remember to edit your "pairsToTrade" list and to have a semicolon separating each currency pair name

Example
AUDUSD;EURUSD;GBPUSD etc
I'm also attaching a set file which works with most brokers.
Place it into the MQL4/Presets folder and load the .set file at the time of loading the EA.
For brokers such as AXitrader you can enter your currency pairs as AUDUSD.pro;EURUSD.pro;GBPUSD.pro etc

If at any time you encounter the error zero divide in 'marketdistance.mqh then most likely you would have made a mistake in your currency pairs list
or 1 or more currency pairs don't exist in your MT4.
Edit the Pairs to Trade list and make sure all the listed pairs exist in your Mt4 and are separated by ; and not by a , .
Then close the chart and place the EA on a new chart.
Attached File(s)
File Type: ex4 HedgeTradePanel37.ex4   415 KB | 934 downloads
File Type: zip HEDGEPANEL-37 - AUTO HEDGING + SL10- NO BE.zip   1 KB | 1,208 downloads
Have a nice day
  • #309
  • Jul 24, 2020 4:02am Jul 24, 2020 4:02am
Hedging against investment risk means strategically using financial instruments or market strategies to offset the risk of any adverse price movements. Put another way, investors hedge one investment by making a trade in another. A reduction in risk, therefore, will always mean a reduction in potential profits.
  • #310
  • Jul 24, 2020 6:25am Jul 24, 2020 6:25am
Quoting Butterscotch
A reduction in risk, therefore, will always mean a reduction in potential profits.
You are right but what is your point?
IMHO risk reduction should be our top priority
I'm convinced that the way we manage the losing trades, will determine how profitable we will be in the long run.

I suggest you scroll up this page and read through the user manual, you will see that this panel does a lot more than hedging.

I have put a lot of thought into my trade management and my trade exits
and when you look at the set files I've posted here you will immediately notice that the settings are aimed at reducing risk and not to maximize profits.

I use these settings in my scalping and I'd like to be in and out of trades so they suit me fine,
but if someone is a trend trader and wants to ride trends for hundreds of pips,
then he can disable the hedging and symbol basket closing features and use the EA as a simple trade panel.
Have a nice day
  • #311
  • Jul 25, 2020 2:42am Jul 25, 2020 2:42am
New Version 37.1
The previous version had a bug where if we removed the EA, the chart was closing

New EA users of Versions V37 and above, please read post 308 because the currency pair formating has changed.
Existing users of older EA versions, please note that if you load your old set file (created by your previous EA version) you will get an error.
In order to avoid this error, edit your "pairsToTrade" list and have a semicolon separating each currency pair name ( replace the dot with the semicolon)

Example
AUDUSD;EURUSD;GBPUSD etc
Attached File(s)
File Type: ex4 HedgeTradePanel37.1.ex4   414 KB | 1,244 downloads
Have a nice day
  • #312
  • Jul 25, 2020 7:00am Jul 25, 2020 7:00am
Quoting billv
New Version 37.1 The previous version had a bug where if we removed the EA, the chart was closing New EA users of Versions V37 and above, please read post 308 because the currency pair formating has changed. Existing users of older EA versions, please note that if you load your old set file (created by your previous EA version) you will get an error. In order to avoid this error, edit your "pairsToTrade" list and have a semicolon separating each currency pair name ( replace the dot with the semicolon) Example AUDUSD;EURUSD;GBPUSD etc {file}
Thanks Bill
  • #313
  • Jul 27, 2020 7:54am Jul 27, 2020 7:54am
Help me please..how can i use this EA to control a basket trade or multiple trade without opening all the 24 pairs?
  • #314
  • Jul 29, 2020 7:20pm Jul 29, 2020 7:20pm
Quoting Fancysegs
Help me please..how can i use this EA to control a basket trade or multiple trade without opening all the 24 pairs?
This EA currently does not support global basket closure where you have x number of open trades in x number of currencies
and when the whole basket of trades becomes profitable it closes all trades.
However, it does support closing baskets of trades in any 1 single currency and can manage multiple pairs individually at the same time
BUT this is done in 1 trading direction at a time, so the EA can close ALL BUY trades or ALL SELL trades
of any of the currency pairs listed in the EA settings

In order to use this feature, you will need to have the following inputs set=true
and you will have to set the take profit targets for each input

These inputs enable 6 levels of take profit
and depending on how many trades are open the EA will decide which of those 6 TP's to use
You can enable 1 or more levels and set the desired TP at each level you want to use.
If you only want to do trade recovery, I suggest you use defensive trading and lower your TP expectation at the higher levels
The set files I have posted will give you an idea of what settings to use.

SymbolBasketTradesBelongToBasket1=true
SymbolBasketTradesBelongToBasket2=true
SymbolBasketTradesBelongToBasket3=true
SymbolBasketTradesBelongToBasket4=true
SymbolBasketTradesBelongToBasket5=true
SymbolBasketTradesBelongToBasket6=true
Have a nice day
  • #315
  • Jul 30, 2020 4:09am Jul 30, 2020 4:09am
Does the EA only work in live account. I tried testing on demno.
Without despair & distraught, focus on Patience to FRESH MOTiVES.
  • #316
  • Jul 30, 2020 7:49am Jul 30, 2020 7:49am
Quoting skyf
Does the EA only work in live account. I tried testing on demno.
It works on live and demo, if it does not place trades you've probably stuffed up the installation

Have a look in the experts tab of your TM4 terminal and see what messages you got.
If you see any error, then close the chart , and start again with a new chart.
The user manual shows you how to install it.

If you press the buy or sell buttons and nothing happens, then most likely the MT4 chart has crashed
This is often due to missing MT4 history, I'm working on a new EA version which updates the MT4 history by itself
Have a nice day
  • #317
  • Sep 20, 2020 7:02pm Sep 20, 2020 7:02pm
hi Everyone

Would someone advise how can I can set the lot size of the Hedged order to be as a multiplier of the original lot size of the opened order?

Thanks
  • #318
  • Sep 20, 2020 9:34pm Sep 20, 2020 9:34pm
Quoting MichaelMano
hi Everyone Would someone advise how can I can set the lot size of the Hedged order to be as a multiplier of the original lot size of the opened order? Thanks
It cannot be done, the hedged order will be identical to the combined size of the open orders
However, you can use the reverse button, it will open a x2 trade in the opposite direction
Have a nice day
  • #319
  • Sep 26, 2020 9:20am Sep 26, 2020 9:20am
Quoting billv
{quote} It cannot be done, the hedged order will be identical to the combined size of the open orders However, you can use the reverse button, it will open a x2 trade in the opposite direction
Thank you Billy for your response
I have another question, can the instant breakeven bottom set the open trades (hedged) TP and SL to breakeven once it is clicked? even if both trades are in loss, which by definition if we have 0.01 buy order and 0.02 sell order and both are open then the price should be somewhere between these 2 positions. so in such cases can the instant breakeven button adjust the levels of TP and SL of both trades to be breakeven?

Thanks
  • #320
  • Edited 9:02pm Sep 26, 2020 8:41pm | Edited 9:02pm
Quoting MichaelMano
{quote} Thank you Billy for your response I have another question, can the instant breakeven bottom set the open trades (hedged) TP and SL to breakeven once it is clicked? even if both trades are in loss, which by definition if we have 0.01 buy order and 0.02 sell order and both are open then the price should be somewhere between these 2 positions. so in such cases can the instant breakeven button adjust the levels of TP and SL of both trades to be breakeven? Thanks
Hi Michael

Yes the EA can be changed for the break even button to do this but we have to consider all trading scenarios.

The BE function by itself is meant to protect our profitable trades so they don't go into draw down
but I can imagine situations where 2 or more trades are open and in those case, the BE function can interfere with trade recovery.
so I should remember to add some code to stop the BE function from working when more than 1 market order is open.

I can change the logic of the BE button too but we have to consider what our goal is.
Remember that this EA already has trade recovery capability using the symbol basket closure levels1-6.
If you look through my earlier posts I have shown examples on how this great feature can be used.
It will pay to try to understand how symbol closure works because it is very valuable in managing risk and in trade recovery.

For example, what you want to do with the BE button can be done by setting inputs:
ADR_TP=false
SymbolTradesBelongToBasket1=false
SymbolTradesBelongToBasket2=true

SymbolMinTradesOpenForBasket2=2
SymbolMaxTradesOpenForBasket2=2

SymbolBasketCashTakeProfit2=1
Note: the 1 in the above input means 1$ or 1Euro etc

SymbolTargetOnPips2=false
SymbolBasketPips2=0


The above example shows how to tell the EA to wait until 2 trades are open and then use the above settings for $1 of take profit.
The EA has several such TP levels and you can adjust the number of trades or the TP to suit your trading.
The default settings will work, you simply need to enable each TP level by setting it to=true
In the default settings I use a percentage of the account equity for TP
so if you see that percentageProfit is set to =0.1 and your account equity is 1000 ,
it means that the EA will take profit when the combined trade profit is $1000x 0.1%=1$
If you wanted the trades to close at beak even, you could set the TP even closer to zero,
perhaps you could use 0.001 to allow for slippage but please avoid entering 0 because I fear that your 2 trades will close instantly in loss.

This type of % TP is useful because as our account equity grows, the EA will adjust its TP to a larger $ value so we won't need to keep adjusting our TP.
Play with it on demo and find settings which suit your trading.
Note: If you use a % for TP, make sure the cash TP inputs are set to 0
Have a nice day
0 traders viewing now