Discussing the article: "Automating Trading Strategies in MQL5 (Part 4): Building a Multi-Level Zone Recovery System"

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Check out the new article: Automating Trading Strategies in MQL5 (Part 4): Building a Multi-Level Zone Recovery System.

In this article, we develop a Multi-Level Zone Recovery System in MQL5 that utilizes RSI to generate trading signals. Each signal instance is dynamically added to an array structure, allowing the system to manage multiple signals simultaneously within the Zone Recovery logic. Through this approach, we demonstrate how to handle complex trade management scenarios effectively while maintaining a scalable and robust code design.

The Multi-Level Zone Recovery System will utilize a well-organized structure to manage multiple trading signals effectively. To achieve this, we will define a structure (struct) that acts as the blueprint for creating individual trade baskets. Each trading signal generated by the RSI indicator will correspond to its unique basket, stored as an element within an array. For instance, when the system generates Signal 1, we will create Basket 1, which will not only store the initial trade details but also manage all recovery positions associated with that signal. Similarly, Signal 2 will initiate Basket 2, and this basket will independently track and execute all recovery trades based on the parameters of Signal 2. Here is a visualization of the basket and signal properties.

Each basket will include essential data such as the signal direction (buy or sell), the entry price, recovery levels, dynamically calculated lot sizes, and other trade-specific parameters. As new signals are identified by the RSI, we will add them to the array, ensuring the system can handle multiple signals simultaneously. Recovery trades will be dynamically calculated and executed within their respective baskets, ensuring that each setup is managed independently and without interference from others.

Author: Allan Munene Mutiiria