Apprentice wrote:I do not understand the logic required.
So, the strategy need to open an entry order?
In which direction?
Lower than the position or higher (hedge gap)?
Hi Apprentice,
The strategy would create entry order on the open of the manually open trade, The direction of the entry order would depend on the direction of the manually open trade eg; manually open a buy strategy would create entry order sell with the allowed pips to risk per trade. And vice versa manually open sell would create entry order for buy with the allowed pips to risk.
What I am trying to achieve is a risk management strategy to manually enter a trade, and strategy would auto place a counter trade, (hedge in opposite direction). There would be one condition the volume price change would need to be above the signal line for long and below the signal line for short otherwise will not let enter the trade (not sure if this entry condition can be done as entering manually). The hedge gap would be allowed max pts want to risk per trade.Take profits to be placed manually to be able to manually reduce or extend take profit orders and close trade manually
1. If trade hits TP and closed trade, the auto placed trade to be cancelled.
2. If trade offers profit and exits manually or the exit by VPC crosses against the signal line closes the trade, placed trade to be cancelled.
eg: take profits was 50pts only offered 40pts either closed manually or by VPC auto placed trade cancelled
3. If trade is negative, and VPC crosses against the signal line then to hedge immediately (end of turn) cancelling the original place (hedge).If hedge is triggered then all stop limits and limit orders to be cancelled and the VPC exit strategy part to be disabled on that trade. Trade then to be exit manually.
eg: take profits was 50pts offered 10pts VPC crossed against signal line would enter a counter immediately(end of turn) original auto placed trade still 10pts away would be cancelled all stop orders & limit order to be cancelled and trade manually closed
In parametersLot size
Amount of pips (amount of pips to risk per trade)
ATR % and period and time frame option
VPC (Volume Price Change) time frame option
End of turn option
Hope you understand my request
Arfs