How to open a hedged trade when original is in X pip loss ?

[asafito]

Hello Everyone !
I'm trying to make a hedging EA with very simple set of rules.. but seems either my logic is wrong or functions as "pips away from SL / TP" are not working properly.

Setup is this - 1. open up a BUY NOW trade ( doesn't matter conditions)
2. when that first BUY order is 30 pips in loss - I want to open up a pending sell order at that location AND/OR draw object in that spot where the buy order is in a 30 pip loss.
Anyone know how to do that ?
Thanks in advance
Asaf

[Zackry]

@asafito
Try this

[asafito]

@zackry
Alright , thank you Zackry I'll try that & will see what can be done

Cheerz

[asafito]

@Zackry
It kinda worked but only partially ,, I will explain what is the simple setup of this EA - it will give you heads up what conditions/connections might be missing.

1. going long & open BUY #1
2. need to define once the Buy #1 opened 4 zones - Start , recovery , TP , SL
3. if The first trade is @ loss of X pips ( meaning it got to "Recovery" zone) then the EA needs to open up the trade #2 - SELL NOW with SL / TP in same zones as trade #1.
4. IF trade #2 , which is a short position is @ X pips loss - then the EA opens trade #3 with Long position... same TP / SL as trade #1 ...
5. you might have guessed it - if trade #3 is @ X pip loss then ( same as before) the EA will open another SELL Position.

So this is a hedged / martingale type EA . customizing the Lot Size / Pip Profit/SL targets,, but the logic of taking the next trade in the sequence is the same - Only when former trade is at certain loss of pips.

Do you how to work it out ?
** I think that if placing horizontal lines once trade #1 is opened will help define where to open all future trades

[l'andorrà]

I recommend you to read this:

https://fxdreema.com/forum/topic/2023/Adding-a-Sure-Fire-Hedge-to-an-Startegy/2

https://fxdreema.com/forum/topic/6624/problem-in-martingale