If you're diving into Forex trading with a hedging account, you'll want to check out TralingLine, an Expert Advisor (EA) designed specifically for your needs. Just a heads up: it's not tested on netting accounts, so keep that in mind.
Here’s how it works: whenever a new position pops up, the EA automatically draws a trend line. You can customize this line however you like!
For Buy positions, the trend line will sit below the opening price, while for Sell positions, it’s placed above the opening price. Plus, it extends two bars into the future, keeping you a step ahead. As new bars appear, the line will adjust accordingly.
Now, if you decide to move that trend line and it drops below your Buy position, the EA will notify you. It’ll give you a heads-up on the price and the profit or loss, so you can close all positions if needed. Talk about staying in the loop!
In summary, TralingLine is a handy tool for traders looking to optimize their strategies in MetaTrader 5. Happy trading!
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