Close Opposite Orders Script - Pay 1x Spread NOT 2x When Closing Hedged Positions

[PyeR2]

This script enables you to close a hedged position and only pay 1x spread instead of 2.

I find it very useful for scaling out of winning positions, as I can just place pending limit orders at my TP levels and then use this script to close close out the 'opposite orders' and only pay 1x spread.

 

http://www.mediafire.com/file/95wmc8atvz6f46j/CloseOppstOrders.mq4

 

Example:

Long GU 1.00 lots @ 1.5800

Short GU 0.33 lots @ 1.5850 (+50 pip ) - a filled Sell Limit Order

Short GU 0.33 lots @ 1.5900 (+100 pips) - a filled Sell limit Order

 

If you ran the script now it would close out the 2x short positions of 0.33 lots as well as simultaneously close 0.66 lots of the long position, banking the profit and you only pay 1 spread. 0.34 lots long would be left open.

 

I think it's pretty cool - I wish I knew about it years ago.

 

Cheers, Pye

[rusty1975]

hi ,

 

i like this sort of stuff , in a world like forex this is a very nice trick , thanks a lot

 

rusty