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Hello molanis forum,

I would like my EA to open a buy and sell position at the same time but only when no existing trades (regardless if the existing trade is a buy or sell) is open.

Eg. when price is above bollinger band dev 2, buy with take profit of 50 pips and stop loss 10 and sell at the same time with take profit 10 pips and stop loss of 10 pips.

the sell trade is used to hedge the buy trade.

Lets say the buy trade is still open and has made 20 pips and the sell trade has hit the stop loss. If the price goes above bollinger band dev 2 again, i do not want it to trigger another sell/buy trade until the existing buy trade has closed.

Is it possible to create this on molanis? I have looked at "next trade management" feature and i don't think it will work in this situation. I have made the other parts of the EA work, but i can't stop it from opening new trades when the existing one is still open.

Thanks for your help

I know Molanis doesn't like it when people fiddle with the code, however,
I kind of figured out how to do it, so I thought I would share with those who may look it up in the future (especially since a few people had a look at the topic).

It does not involve using Molanis, instead I changed the EA Mql4 code. I am not an expert in coding so if anybody has a better suggestion or if this is incorrect, please say so. As always, make sure you try it out on demo first.

I added this into the EA code:

int start(){

//manage open orders here

if (OrdersTotal() > 0){
return(0);
}

//open new orders here

}

This checks how many orders are already open. So if there is more than 0 orders open, (regardless if they are buy or sell orders) then it will not open new orders. If you want a buy and sell order to be happening at the same time, then the setting for "hedge" must be "true" and the broker must allow it.

"open a buy and sell position at the same" just to be clear 2 trades cannot be opened at exactly the same time. You will have a difference of 1 second or less between trades
You can open the 2 trades if you turn hedging on in the start icon and set the number of max trades to 2 (mind you, if you do not use overlapping conditions you may end up with 2 long or 2 short trades)

I think this is not possible "Lets say the buy trade is still open and has made 20 pips and the sell trade has hit the stop loss. If the price goes above bollinger band dev 2 again, i do not want it to trigger another sell/buy trade until the existing buy trade has closed." because cannot create a condition like if trade a was closed with at least 20 pips profit and trade b was closed with a stop loss... You need a custom development to create that logic that is quite complex