Automating a Support/Resistance Forex Hedging System | Forex Factory

Options

Permalinks
Print Thread

Similar Threads

Automating 20 MA in pine 0 replies

Fully Automating break out strategy from Entry to Exit 8 replies

If you have an opinion, then VOICE IT! SUP/RES 7 replies

Automating trades 4 replies

Hans + Weekly Fib Sup/Res Indicators for VT Users 9 replies

Attachments: Automating a Support/Resistance Forex Hedging System
Exit Attachments

Automating a Support/Resistance Forex Hedging System

  • #1
  • First Post: Edited 11:45am Jun 13, 2024 11:12am | Edited 11:45am
Invitation to code group.
Coded for Brokers who allow direct hedging.

Working to automate the Forex Hedging system traded by Chad as described here:
Inserted Video


Prototyping in MQL4 but will port to MQL5 when working a little better.
Preliminary draft of evolving EA mql4 code attached.
Give it a test drive on EU in the strategy tester. VERY incomplete code.

Looking for a couple of coders to get involved with it.
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 27 KB




If I can get critical mass going will share completed code with development team that complies with a complete methodology flow chart.
Attached File(s)
File Type: mq4 SmartHedge_v2p7.mq4   65 KB | 488 downloads
There ain't no use in cryin' It doesn't change anything." QOTSA
  • #2
  • Jun 13, 2024 4:31pm Jun 13, 2024 4:31pm
Quoting EgoNoBueno
Preliminary draft of evolving EA mql4 code attached.
Thanks @EgoNoBueno for providing the code!

I cross-compiled the code to MT5 because I prefer the backtester of that platform. If the strategy turns out to be worthwhile, I will make the effort to port the source code to MQL5.
Attached File(s)
File Type: ex5 SmartHedge_v2p7.ex5   163 KB | 362 downloads


Quoting EgoNoBueno
Give it a test drive on EU in the strategy tester.
I did a quick backtest with default settings to see if it does something. I will try to find the time to study the code and the backtest in more detail later to understand what it is doing.
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 10 KB

Nobody likes drawdown, but my first observation is that it nicely limits the deposit load / margin used during drawdown. Many grids and Marti's will dig itself in deeper and deeper until the account is blown. This EA is well behaved.
  • #3
  • Edited Jun 14, 2024 1:16pm Jun 13, 2024 4:57pm | Edited Jun 14, 2024 1:16pm
Awesome. Thanks Yoriz.
Absolutely no surprise about the DD because no effort was made to roll out of the losses generated by those trades.
The secret sauce hasn't been applied to the code yet. I'll ping you when its fixed up. There will be no marty. It is missing the bad trade resolution engine, which will involve continued partial closure of the losing trade until it is fully resolved. That has not been coded yet. The only thing good about it right now, is that it takes trades with fresh S&R levels.
There ain't no use in cryin' It doesn't change anything." QOTSA
  • #4
  • Edited 7:31am Jun 26, 2024 7:20am | Edited 7:31am
Very interesting EA ... I have found the guy's channel a while ago and watched most of his videos because he is not using your typicall "average" hedging methode. When I tried to replicate it myself in a manual backtester I found to be very hard.

Vene on lower timeframes it seems to perform well.

GBPUSD 15m YTD

Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 22 KB


Subscribed
  • #5
  • Oct 25, 2024 2:03am Oct 25, 2024 2:03am
Interesting idea. However, i've downloaded the EA. After initial first order the EA doen't open new positions nor trim the position in loss. I'll take the time the next few days to evaluate the code.
Suggestion to reduce the drawdown is to move the pending stop-order along with the ongoing placed order.
  • #6
  • Nov 2, 2024 11:16am Nov 2, 2024 11:16am
The hedging strategy from the video is already developed in the class.
You can find the HedgingClass here:
Inserted Video
  • #7
  • Nov 2, 2024 2:43pm Nov 2, 2024 2:43pm
I watched some of his videos in the past and tried to code as well but it's too much discretionary without a clear specification on how to open the trades.
  • #8
  • Nov 3, 2024 4:02am Nov 3, 2024 4:02am
Quoting Merka
I watched some of his videos in the past and tried to code as well but it's too much discretionary without a clear specification on how to open the trades.
As I understand it, we should have a win rate of more than 50% to use this hedging strategy effectively, since all losing trades will incur swap fees and other costs.
I also tried this on a single pair, and I realized that we often end up with one sell and one buy order with a large pip gap. Working from the inside allows us to create smaller gaps and transform drawdown into balance, making it profitable.
However, this also depends on the entry model. Simply flipping a coin won’t work.
  • #9
  • Nov 3, 2024 8:52am Nov 3, 2024 8:52am
Quoting VolBog
{quote} As I understand it, we should have a win rate of more than 50% to use this hedging strategy effectively, since all losing trades will incur swap fees and other costs. I also tried this on a single pair, and I realized that we often end up with one sell and one buy order with a large pip gap. Working from the inside allows us to create smaller gaps and transform drawdown into balance, making it profitable. However, this also depends on the entry model. Simply flipping a coin won’t work.
Exactly but he just enter randomly and that will just keep your DD increasing.
Definetly an entry model is needed.
  • #10
  • Last Post: Nov 4, 2024 11:59pm Nov 4, 2024 11:59pm
I’ll check out the code on the strategy tester and see how it handles on EU.
0 traders viewing now