I am actually trying to develop a hedging strategy.
I will run two instances of the bot on the same pair on different charts and with different id's and magic #'s.
One strategy will open a long trade when the logic is satisfied.
The other strategy will put an entry order a fixed number of pips (20) below the initial entry point in the opposite direction.
If the price does not drop 20 pionts, I do not want the second order executed.
The complicated part being the execution of an order based on indicator criteria in the past, example being:
1. CCI crosses the -100 line upward
2. 50 ma is higher than the 100 ma,
1. place an entry order to open a short position 20 pips below the price when opening criteria was met.
2. Do not open short position unless price drops 20
3. Cancel any unopened entry orders or close open orders when closing criteria are met
Any suggestions on implimenting this would be extremely helpful!