Help with an EA

Hello,
I am wondering if someone can help me with a programing problem I am having with an EA.

Basically, I just don't know how to go about what I am wanting.

Here is the scoop.
At a certain time, the EA will open two pending orders (one buy, one sell) X pips away from current price.

What I want to have happen is as follows:
Let's call the orders ord1 and ord2 for now
Price moves and enters ord1

If price continues in my favor to ord1 hits TP
Delete ord2

If price moves against ord1 and hits ord2, both trades will remain open until either stopped or TP (ord2 will TP before ord1 S/L and vice versa to reduce losses)

Right now, if ord1 enters and goes to TP without ord2 entering, ord2 remains unless I delete it manually, or I can get ord2 to delete as soon as ord1 enters, but that defeats the purpose of the potential hedge if needed.

Basically, if a buy is entered, I want the coresponding pending sell to remain until the buy hits TP, then delete the pending sell.

Clear as mud??

Anyways, hopefully someone can help me out with coding this.

Thanks

Hi cthauber,

I like the idea on how to limit your losses. Perhaps this concept could be improved by combining with something like the stochastic indicator. That way you would open trades at "supposedly" the beginning of trends.

I would like to see if there are any other ideas that members have that might be used in conjunction with what you described. If something looks promising (i.e. potentially profitable based on visual testing), I would consider contributing $ to have it programmed.

Doug

I've got a couple of breakout EA's that I've found on various boards, and in backtesting (90% modelling), they are relatively profitable.

I do believe that if I can add the functionality talked about in my first post, it will cut any losses in half, therefore increasing the total profit.
I simply don't know how to delete a given pending order when and only when another order (entered at the same time) hits TP.

Here's hoping

Hi, I'm no pro...and I'm sure there is a better way but I find this usefull and easy to update/change as needed across alot of different ea's I write.

After declaring my variables etc. and before any actual code to place trades, I run two parts of code to assign variables to all current trades open, and the last trade entered, and how it closed.



//-------------FIND OUT CONDITIONS OF LAST TRADE CLOSING-------------------------------------------

OrderSelect(HistoryTotal()-1,SELECT_BY_POS,MODE_HISTORY);
if(OrderType() == OP_SELL)
{
PreviousSellOrder = true;
if(OrderClosePrice() > OrderOpenPrice()) { PreviousOrderStoppedOut = true; }
if(OrderClosePrice() < OrderOpenPrice()) {PreviousOrderReachedProfit = true; }
PreviousOrderOpen = OrderOpenPrice();
PreviousOrderClose = OrderClosePrice();
PreviousOrderStopLoss = OrderStopLoss();
}

if(OrderType() == OP_BUY)
{
PreviousBuyOrder = true;
if(OrderClosePrice() < OrderOpenPrice()) { PreviousOrderStoppedOut = true; }
if(OrderClosePrice() > OrderOpenPrice()) { PreviousOrderReachedProfit = true; }
PreviousOrderOpen = OrderOpenPrice();
PreviousOrderClose = OrderClosePrice();
PreviousOrderStopLoss = OrderStopLoss();
PreviousOrderMagicNumber = OrderMagicNumber();
}

Once I have the values assigned for my previous trade, I run a loop to assign values for all pending orders, and current orders open.

for(int cnt=0;cnt < OrdersTotal();cnt++)<orderstotal();cnt++)><orderstotal();cnt++)>
{
OrderSelect(cnt, SELECT_BY_POS, MODE_TRADES);

if (OrderType() == OP_SELLSTOP)
{
OpenSellStop = true;
SellStopTicket = OrderTicket();
SellStopSL = OrderStopLoss();
SellStopOpenPrice = OrderOpenPrice();
}

if (OrderType() == OP_BUYSTOP)
{
OpenBuyStop = true;
BuyStopTicket = OrderTicket();
BuyStopSL = OrderStopLoss();
BuyStopOpenPrice = OrderOpenPrice();
}

if (OrderType() == OP_BUY)
{
OpenBuy = true;
BuyOpenPrice = OrderOpenPrice();
BuyOpenTime = OrderOpenTime();
BuyMagicNumber = OrderMagicNumber();
BuyOrderTicket = OrderTicket();
BuyOrderLots = OrderLots();
}

if (OrderType() == OP_SELL)
{
OpenSell = true;
SellOpenPrice = OrderOpenPrice();
SellOpenTime = OrderOpenTime();
SellMagicNumber = OrderMagicNumber();
SellOrderTicket = OrderTicket();
SellOrderLots = OrderLots();
}
}


In doing all this at the start of each of my EA's, the status of trading system is updated each time it runs, and makes it extremely easy (for me anyhow) to manipulate the trades. To bring it together and answer your question, when needed I would write this:

if( (PreviousSellOrder == true)&&(PreviousOrderReachedProfit == true)&&(OpenBuyStop == true) ) {OrderDelete(BuyStopTicket); }



Hope that helps, and wasn't to confusing. I realize it's not elegant or brilliant...but it works great for me!!


</orderstotal();cnt++)></orderstotal();cnt++)>

Thanks a bunch!!!

I will see if I can incorporate this into the EA's and see what I can come up with.

Thanks again!