EA closing hedge positions when in profit/loss?

Have you heard of an ea that could close positions by reading the floating profit/loss?setting stop's and tp's on levels would not work because we dont know at what price levels the pairs will diverge each other giving a profit or a loss.
For example when floating in profit of 10$ the ea should close both positions at what ever level.Same for -10$.Thans for any info or ideas

Hi swingfiddle,

Just now coded one up for you. The parameters are as follows:


If the account profit reaches any of the levels, all positions on account will be closed.

Find attached.

Dan.

Hi Dan,thank you very much for doing this!Can you help me understand how to apply it?For example lets say that we have a long eur/usd that is floating at +50 pips and a short eur/aud that is floating at -40 pips.How can both positions close for a profit of 10 pips or 10 $?Appreciate your effort i ll soon come with a neat strategy!

Hi swingfiddle,

You are very much welcome. In your original post, you only asked for options on x$ exit, and not x pips exit. I have modified the Expert Advisor. Here are the updated parameters:


Find attached.

Dan.

Dear dostapyuk!its difficult to express in distance what is the idea,but i am posting a chart to try expain my thought.In the posted example you will see i am playing short eur/aud and long eur/cad.The idea behind this is that euro is weaker against aud but its strongest against cad.So,if euro gets strong then eur/cad will accelarate upwards more than eur/aud which will probably not follow because of strong aud giving us a profit.If euro gets weaker,then eur/aud will break down more fast than eur/cad because cad is not strong enought and will decline less giving me again a profit.The thing is that this might take lots of hours to happen and cant always be in front of screen.What we care is the sum of profit/loss of both positions.You will see in the chart that we are now in a loss of -26,53$.For this to work out,an ea should read this net profit or loss of BOTH positions and not each individual position's activity.As a row example the ea should close both positions if it reads a -30$ or +30$ net of BOTH positions!Hope this time i explained better what is the idea.So in the ea settings there should be an option like"close both positions when position A+position B=30$,or position A+position B=-30$.Hope what i i am saying i realistic and could be done because it can be a very profitable strategy!Dont know how to thank you so far!

Finally the trade worked and we are now floating in a nice 17$ profit.As you can see the eur/cad pair rallied for 32 pips but eur/aud just went -14 against us.The difference is a neat profit.Now the ea should see that profit and close both positions while we are sleeping or drinking rum+coca cola at the beach

Hi swingfiddle,

What you are explaining in more detail is exactly what is already coded. I am sorry, but I do not think I understand what you are trying to say. In your previous post, the total net profit was +$17, and you say to close both positions. In the post earlier, you say to only close when both positions are +$30 or -$30 (which is what the EA is currently doing btw). It is contradictory to me.

Dan.

Dear Dan,thank you so much for your interest!

In reality the ammount of profit i am mentioning is secondary!Its just an example.To simplify the idea,it should be a formula like that.

1)(IF position's A floating amount )-(position's B floating amount)=positive number,(where positive number is the amount of profit we are setting),then the ea should close both positions for profit.

2)If position's A floating amount-position's B floating amount=negative number(where negative number is the amount of loss we are setting),then the ea should close both positions for a loss.

Hi swingfiddle,

No problem. I am interested in figuring this out as well.

Let's say:

Position A profit: -$7.77
Position B profit: +$28.13

Your formula is [Position A profit] - [Position B profit]. In this case, the total will be -$35.90.

The Expert Advisor does not know which order you want Position A to be and which order you want Position B to be, so it applies A and B names randomly to the currently open positions. Let's say:

Position A profit: +$28.13
Position B profit: -$7.77

Your formula is [Position A profit] - [Position B profit]. In this case, the total will be +$35.90.

---
Therefore, the EA will either read a negative number or a positive number, and will not allow precise calculation.

Please test the EA and write an example as to what it did or did not do compared to what you want it to do.

Thanks !

Dan.

Hi
Just my 2 cents worth - if you simply have
TradeA+TradeB= total
the total will be either positive or negative, so just program the max/min allowed dollar value of the total. Unless I am missing something obvious?

Hi cja,

That is exactly what the Expert Advisor is doing right now. I shall await swingfiddle's forward test feedback.

Dan.

Hi guys!Thank you cja.Ofcourse it was my mistake!we need to add them not substract them and it will work i guess!
Is the ea already doing this?how should we utilize it then?My question is-if for example we are buying eur/usd and selling eur/aud,in which pair's chart should we activate the ea?thanks

Hi swingfiddle !

Yes, the Expert Advisor is already adding both of the positions. In fact, it sums up all of the profits (both positive and negative) in the entire account.

Save the .mq4 file in your MT4 directory/experts/ folder directory. Restart the MetaTrader 4 platform. In the navigator window, you will find the E.A. and then you can attach it to any chart by drag n' drop (does not matter which pair, as the E.A. reads all trades on account and not pairs individually).

Please do let me know if you have any more questions. . .

Dan.

Dan you are simply the best!eveything is clear now!

but i think the ea closes all positions regardles the sum.When next tick comes it just closes everything!

From my understanding. This EA is a Basket Profit Closer/ Close at Basket Profit. lol.

It doesn't matter what positions are entered by the user because trades will only be closed once the Equity is greater than the Balance by Sum of X or Sum of X Pips. edit: Sum of Pips doesn't work

swingfiddle - are you entering your trades manually without scripts? No magic Numbers or ordercomments?

the Pip Counter doesn't work right. the coder needs to compare the +/- pip values between each currency pair otherwise your Basket portfolio concept won't work when using the pips in profit ,

just use the ProfittoClose value and place a Huge value in the Pipstoclose like 1000.

The Expert Advisor has been modified; just one of those common MQL4 mistakes. See attached.

Dan.

Thats great Dan,ill test it with market open tonight!Many thanks

Hey swingfiddle,

The market has opened, and it has given me a chance to do a live test on the E.A. See attached file with some improvements.

Dan.

that is working great Dan,my last question is,if you set to close in 50$ profit and 50 pips profit,what the ea will do?close positions by reading profit in pips or dollars?