CAP Zone Recovery EA User Guide Part 6
Profit & Loss Setting (Input Parameters)
TakeProfit Type For Initial: Select TakeProfit type from any of two (Both initial and hedge TP type) –
- In Points: Takeprofit in points. It is fix distance TP from open price.
- In Currency: Takeprofit in currency.
TakeProfit For Initial (Points/Currency): Value of TakeProfit. When you select TP Type- In Points, this value considers as points but when your TP Type- In Currency then this value consider as currency. Zero mean no TakeProfit.
TakeProfit Type For Recovery: Select TakeProfit type for Recovery trade. When trade in hedge mode then EA fellow this setting.
- In Points (Average): Takeprofit in points. It works as average profit in points. Example you have open two trade 1 Buy at 0.01 and 2nd Sell at 0.02 and you set take profit 300 so when price go down and your total trade (both buy and sell) come in profit 300 in average EA close the trade.
- In Points (Fix Distance): Takeprofit in points. It is just fix distance from your last trade.
- In Currency: Takeprofit in currency.
- In Custom TP (Points): You can set custom different TP level for your all your recovery trade. This is work like Average TP but you have set different TP in points for all your recovery trade.
TakeProfit For Recovery (Points/Currency): Put the value for your takeprofit for recovery trade.
Points (Average) and In Points (Fix Distance) work
Example – You set below setting-
- TakeProfit = 300 Points
- Zone GAP = 300 points
You open first initial trade is Buy at 1.20300 with 0.01 lots and price go down EA open recovery sell trade at 1.20000 with 0.02 lots in this situation how recovery TP work –
In Points (Average) Mode - EA set takeprofit level at 1.19400 because at 1.19400 point Buy trade will be loss at 900 points and Sell side make profit at 1200 so your total profit will be at 1200-900 = 300. In average mode EA always give your selected points of Takeprofit. In this mode it always maintained 300 points TP.
In Points (Fix Distance) Mode – EA set takeprofit level at 1.19700 because your last trade is sell trade at 1.20000 and fix distance your will close at 1.19700, 300 points below from you sell trade. So, in this situation you make profit Buy side loss 600 points and sell trade make profit at 600 points so total profit is 600-600=0. You make 0 points.
IMPORTANT - Fix distance doesn’t care if you whole cycle trade at are is profit or not it just close all trade in selected fix distance TP. On the otherside Average Mode always maintained your selected takeprofit. If you takeprofit 300 EA only when close all trade when your whole cycle come to in profit at 300 points.
How Loss Taking Policy Work
In zone recovery strategy there no loss. But originally it is not true. In Zone recovery EA always open hedge trade to recovery your loss but there is a limit how many time EA open recovery trade.
Example – In above picture you set MaxHegeOrder = 7 and you open initial trade BUY. So, EA open max 7 recovery trade to make your cycle in profit. You last trade in SELL if price go down you make profit but what happened if price go up. So you have to set loss taking policy for what EA do if your MaxHedgeOrder reach.
Loss Taking Policy: Select any of loss taking policy-
- Disabled: EA will not close any trade by loss.
- Place Stoploss: if True. EA set fix StopLoss if MaxHedgeOrder trade reach. Example you set MaxHedgeOrder=8. If total trade 8 then EA will not open any hedge trade. So EA set fix StopLoss on loss trade side.
- Close Trade By Trade: if True. EA close latest order step by step. Example you set MaxHedgeOrder=8. If total trade 8 then EA will not open any hedge trade. In this situation, if your latest trade in loss, EA close the latest trade.
SetSLForError: If any error and EA unable to open hedge that EA set StopLoss on loss trade side.
StopLoss (In Points): Fix Stop Loss in points. It works when your Loss Traking Policy=Place Stoploss.
Next Post- Recovery Lots Setting (CAP ZONE EA) Part 7
Mt4 version - https://goo.gl/X10Ajd
MT5 version - https://goo.gl/nISxEg