DislikedAll the EA needs do, is close pair a and pair b when profit on that pairing reaches x. The bigger problem may be that I have up to eight or nine pairs on a chart - I am currently showing 90 pairings and as far as I know, an MT4 chart will only accept one EA. Maybe it can run independent of the chart tho' as we only wish to monitor the P/L figure in the live order box, or, maybe I could have the first chart blank and run the EA from there but then it would need multiple pairings. i.e. a&b close at $ sum x, c&d close at $ sum y, e&f close at $ sum...Ignored
Nice idea. I have tried similar before with limited success. My problem was the indicators were never accurate enough. I mean it is hard enough picking which direction 1 trade is going to go, try getting 20 right. I was of the belief opening more trades with different pairs might average things out, but I didnt find that. Not to discourage. I tried lots of indicators, but the problem was if you set it up for the market norm, then you get into an extreme trend everything goes out the window.
I have been trading a hedging system with multiple pairs for a while. Currently running 4, 6, 8 & 10 pair hedging systems.(and more)
The main reason I am using so many pairs is that it creates a more stable hedge.
ie if you are trading 6 pairs and you get a large movement in the wrong direction with one currency it is only 1/6th of the hedge.