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Auto place hedge like for like in lots size and have exit indicator Volume Price Change

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.
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

In parameters
Lot size
Amount of pips
ATR % and period and time frame option
VPC (Volume Price Change)
End of turn option

Thanks Arfs

If I understand you, you want to replace stop/limit orders with a hedge order.
Can you provide a reference for Volume Price Change?

What are the initial entry rules for the strategy?

Hi Apprentice,
Yes that’s correct to replace stop order with like for like lots size hedge using the 3 conditions.
Volume Price Change with Alert.lua
viewtopic.php?f=17&t=65729

There are no entry rules as would enter manually from price panel, the idea is more of risk management while in a trade using the same exit rules as then can use for different strategies

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.
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

In parameters
Lot size
Amount of pips (for hedge gap)
ATR % and period and time frame option
VPC (Volume Price Change)
End of turn option
thanks Arfs

Your request is added to the development list.
Development reference 682.

I do not understand the logic required. So, the strategy need to open an entry order? In which direction? Lower that the position or higher (hedge gap)?

Hi Apprentice,
The strategy you can buy or sell. Not to open an entry order to place then following conditions below depending how trade turns out
So if I manually entered a sell position the auto hedge place would place a buy (like for like lot size) eg: open sell position, strategy would place a buy 50 pts above the open sell position entry.

Manually entered a buy position would place a sell (like for like lot size) eg: open buy position, strategy would place sell 50 pts below the open buy position entry.

The hedge gap would be in the parameters settings for amount of pts for hedge,
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.
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

In parameters
Lot size
Amount of pips (for hedge gap)
ATR % and period and time frame option
End of turn option for the VPC
VPC (Volume Price Change) and time frame option

Volume Price Change with Alert.lua
viewtopic.php?f=17&t=65729&p=117732#p117732


thanks Arf

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)?

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 parameters
Lot 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

Something like this?

Apprentice,
Tried the auto place hedge parameters looked fine need to add the ATR period and percentage for stop loss please.
I manually entered a trade short, nothing no counter hedge long was placed, and the only entry condition is that the vpc is below the signal line for shorts or vise versa if not to reject trade. my manually entered trade vpc was above signal line and never placed a counter hedge trade like for like lot size please can you fix
Thanks Arf