I am looking for someone to create an EA (for MT4) that can perform the following hedge operations:
1) The EA will either monitor all trades, or monitor trades by magic number (there should be the ability to select between these 2 options when initializing the EA).
2) When a trade falls into loss by a certain number of pips (i.e. 40 pips), a trade in the opposite direction will be opened (a hedge trade). The number of pips should be able to be selected when the EA initialzes.
3) When the hedge trade itself reaches a certain profit (i.e. 30 pips), the hedge trade will have a Stop Loss (SL) /Take Profit (TP) introduced. The hedge trade may or may not be closed with a profit. There are essentially 3 scenarios here: 1) Set the hedge trade to take the profit (TP) and close the original trade, 2) set it and forget it - let run and I will manually close either side, or 3) hold out for reversal in the direction of the original trade, allow the hedge trade to go back down to zero and close the hedge trade (i.e. break even). If possible, the break even should also include swap/rollover charges into the break even calculation. The number of pips should be able to be selected when the EA initializes.
4) The original trade is to remain open (even if the hedge trade is closed).
5) If the original trade then has a loss again as in part (2) (i.e. 40 pips), then another hedge trade will be opened for this original trade (and the process will start over again).
6) The Hedge trades that are created are to have their own magic number identifier, i.e. if there were 3 Hedge trades created (from 3 separate trades) then all 3 of these Hedge trades would have the same magic number (if not possible, then a comment referencing the original order # will be fine).
Please note: This should work for all major currency pairs with multiple trades at the same time. Ex: Long GBPUSD, short USDJPY, and long again EURGBP. As long as some or all of these require a hedge then the hedge should be initiated. And here is the rub....in the U.S. as hedging is not permitted; and so, I envision a second, or "synthetic hedge" account. The platform I use is MT4 - single terminal. If it requires the use of their Multiterminal product, that may not be a showstopper. I just need to find the proper broker. And get back to you if it must be so. I would also like to know if the EA would be scalable for the Android or iPhone MT4 mobile software. Thank you kindly in advance.