I was wondering if you can build me a hedging robot?
Here are a list of the inputs I will need on the inputs page:
pips in profit ( this will be used to close all trades once the comboned orders are in x amount of profit, at witch point the robot starts over at the current market price.
If set to 0 the robot should ignore this and run untill the orders hit their take pofit and stopout targets, at which point it starts over at current market price.)
kill switch (when set to true this tells the robot to not trade any more after currnet order is finished)
lot size (this will be used for all orders)
spread (this will be used to set the distance that each new order or added position will enter the market, it will also set the take stop loss for the first order (in profit), I need this to be done by the robot, or so the broker cant see it as my broker doesnt allow any thing less than 15 pip away, and i plan on going closer than that.)
profit distance (this is to be how many pips already in profit are protected, and trigered at same time the spread order is hit.)
take profit (this is to the number of pips from the start of the robot untill it closes all orders, so its not per each order taken its the distance from the first order taken)
this is to have 4 levels on each side or 3 sells and 3 buys, if all metrics are hit I will draw an ex. bellow
160_______________________________(take profit) this is to what closes everything and starts the robot over
150_______________________________(spread)the last order the third orders hiden stop would be moved to 140 and any remaining oders still going(in profit).
100_______________________________(spread)third buy order here and again second order would be protected at 80, and if the first oder did not get stoped out at 40 its hidden
stop would be reset here also
50________________________________(spread)second buy here and a trigered hidden stop loss (profit distance) for odder that started at O. for example sake it will be at 40.
so for example profit distance would be at 40 pip
0_________________________________buy and sell here
everthing on the sell side is a mirror of the buy side, the idea is in a chopy market it will keep from building up any more than 3 open orders and its always protecting ordes in
profit, so in this example the buy side could go to 60 reverse and fall bellow the 0 into sell country, but ive already bagged 40 pip and only draged one order in the red.
Thanks alot, and if you have any questions or need further expalnation dont hesitate to ask!