What is Hedge EA Advanced?
Hedge EA is an alternative for stop loss and it can only be used with an MT4 accounts that allows hedge trades; this means having buy and sell positions at the same time. The main idea is to open a trade in the opposite direction automatically instead of setting a stop loss. A hedge order is placed as a pending order and if your initial trade does not go against you, the hedge order is cancelled. Otherwise, it gets triggered and covers losses for your initial trade. This EA is a very advanced tool which is used by professionals, due to its wide range of settings. Using this EA incorrectly may damage your account, hedge position may become your losing position so you need a lot of practice there. I am not an expert in hedge trading, but Hedge EA was built by the recommendations and requirements from the Forex traders that use hedge methods.
This EA is designed for the Metatrader 4 platform and can be used with any Forex broker, any MT4 account and any currency pair.
Important: EA does not work on OANDA MT4 because they do not allow to use trade comments.
With the Hedge EA you will be able to trade a number of hedge trading strategies, make sure that your trades are properly placed according to your settings, and have the opportunity to create new trading techniques. No trading advice is included with the purchase so you should understand how you will be using such trading tool. With the many settings that Hedge EA can offer, there are no limits to how much different trading systems you can come up with. You can benefit from more free time and enjoy life while Hedge EA will do the work for you and hedge your trades automatically.
Please note that the Hedge EA is a trading tool and it does not open trades without human intervention. You need to open initial trades manually or by a 3rd party trading tool/EA. This EA can not be used in StrategyTester and there are no backtests available.
This App is for Tech-Savvy Users.
Why you need Hedge EA Advanced?
If you already use hedge trading system and want to make your trading easier, the Hedge EA will cover you. You can set this EA to open hedge trades automatically and manage them according to your setting 24 hours a day, allow you to carry on trading while you sleep or while you’re busy with other activities.
There is no need to place hedge orders manually, calculate the right stop loss and take profit price values, or be glued to your computer screen forever. EA will take care of your hedge orders automatically.
If you don’t use any hedge trading systems then you should learn to use one before you begin using Hedge EA. When you understand how your strategy works and can see that this EA can help, you may want to ease your hedge trading and buy this software. However, before you fully understand your strategy, you may find Hedge EA too confusing.
When you have a hedge trading strategy to use, test various combinations of EA settings to find the best ones for your currency pair and your trading style. EA can open hedge orders for an existing hedge order too and even one with a higher lot size, so in the end your trade group will hit the take-profit level anyway. I call this HedgeHedge trading (HH).
Hedge EA can also work with the Stealth EA. You cannot attach both EAs on the same chart, but you can attach them to separate charts running the same currency pair. Stealth EA can apply hidden stop loss or take profit for your hedge and initial orders, and can also open an initial order that will make Hedge EA start its trading session.
Hedge EA Advanced features
- The EA opens hedge trades when your original trade reaches a certain predetermined loss point
- Hedge trades are placed as pending orders immediately after you open original trade
- User can set range in pips when EA must open hedge trade
- Uses the same Take Profit and Stop Loss like original trade
- Can have different Take Profit and/or Stop Loss
- When original trade is closed, EA will delete pending hedge order automatically if it is not triggered yet
- EA will hedge multiple trades simultaneously
- Trailing Stop function can be enabled for initial trades
- EA can re-open hedge trade when it is closed in loss or profit
- Hedge trades can have bigger stop loss using LotMultiplier
- EA can hedge all trades of any currency pair when running only on one chart
- EA can close initial trade before opening hedge trade
- EA can be set to open unlimited levels of hedge trades. This means even hedge trades will have hedge trades
- EA can re-open initial trade when it is closed in loss or profit
- Two Lot Multipliers available. One for hedge trades and the other for initial trades
- Ignore initial trades with the lot size lower or higher than your specified value
- VIP license owners can order additional MT4 EA features for extra payment
- Trailing Stop and BreakEven functions can be enabled for initial trades
- EA can use LotMultiplier and multiply initial trade lot size by this value to get the new hedge trade lot size. This setting allows you to have bigger or smaller lot size of the hedge trade.
- EA can be set to re-open hedge trade when it is closed in loss or profit. It means that EA will open new hedge trade with the same settings like the last one if current hedge hits SL/TP or it is closed manually in loss or profit
- EA can use hidden pending orders (trade entry can be hidden from the broker). This means that EA will draw horizontal line on the chart where hedge trade should be opened and monitor market price just to open market order when the price touch that line. This way your broker will not see hedge trade entry price, in other words broker will not see that you plan to open hedge trade at all
- When you have hidden hedge trades you can set EA to move the entry like a trailing stop. EA will move the hidden hedge trade line along with the price keeping the distance of X_Pips. This is kind of “trailing the hedge trade”.
- EA can be set to hedge all trades of any currency pair when running only on one chart.
- EA can be set to ignore initial trades and not open hedge trades for them if the lot size is lower/higher or equal than specified value.
How to use Hedge EA Advanced?
- Once started EA will start monitoring current chart for the new trades
- EA will ignore any trades opened before it was started
- Once EA will find new trade opened on the current chart, it will place opposite pending order (hedge trade) in the distance set by X_Pips variable
- EA will use initial trade stop loss and take profit on the hedge trade
- If there are no stop loss or take profit on the initial trade, hedge trade will have no stop loss and take profit too. If you set SL and TP on the initial trade later, EA will set the same SL and TP on the hedge trade automatically
- Hedge trade Stop Loss and Take Profit can be overridden by StopLossPips and TakeProfitPips values
- EA will delete pending order (hedge trade) if initial trade is closed
- If hedge pending order is triggered, EA will not close it in any case unless Stop Loss or Take Profit is hit
- You can close/delete hedge trade at any time manually
- EA will use initial trade lot size for the hedge trade, but this can be overridden by FixedLotSize value
- Trailing Stop and BreakEven functions will work only on hedge trades
For more detailed description of the EA settings and features, please download Hedge EA Advanced instruction manual.
The user can set the level in pips that they want to activate a hedge trade keeping the same stop loss and profit levels as the original trade or different levels can be preset.
If the hedging trade is never triggered and the original trade is closed; the hedging trade will automatically be deleted from the system.
In the above image you can see the “hidden” hedge prepared. The red line below the BUY trade at the distance of 25 pips will act as a hidden hedge trade. Once the market price will touch that line the SELL market order will be opened immediately. The line will be removed from the chart if the “hidden” hedge trade is never triggered and the original trade is closed.
Personal license works on an unlimited Real MT4 accounts and unlimited Demo MT4 accounts on a single computer/VPS. It means you may install the software onto your desktop and notebook computers, but use it only on one computer at the same time. EA is not permanently locked to a computer or MT4 account. You can personally transfer the license to another computer/VPS or MT4 account at any time.
VIP license works on any Real/Demo MT4 accounts on any number of computers/VPS at the same time. It means you may install and simultaneously use the software onto any computer/VPS as long as they belong to you.