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MHS Recovery

MHS Recovery is not a fully automated Expert Advisor, but it is a tool that can help you come out of the wrong trades without loss.

The first trade volume is determined by the EA, and you have to use Buy and Sell buttons on your chart to enter the trade. The EA provides three lines (green, blue and red) for you on the chart. Before entering into a trade, you have to set three lines correctly on your chart. Then, enter a trade by clicking Buy or Sell buttons. The EA determines the first trade volume with regard to lines, balance, leverage, stop out and margin hedging of your account, so that if necessary, there is the possibility of opening a total of four trades simultaneously (2 buy and 2 sell ones) on your account.


Lines

  • Green line, which we have called TP: is the first trade target, that if you have only one open trade when the price reaches the line, your trade will be closed in profit. Otherwise, if there was more than one open trade, when the price is at green line, the trades will be closed with little benefit.
  • Red Line that we have called SL: second and fourth trades will be around this line.
  • Blue Line that we have called Exit: when the price is at this line, the trades will be closed with little profit.

So if the price reaches the green or blue line in cases of one or more open trades, trades will be closed with a small profit.


How It Works

1. When you open the first trade, the EA places a pending order on the Red Line (SL). Now, if your positioning is correct, when the price reaches the green line, your trade is closed with profit. Example picture

2. Now, if the market moves against your position and your first trade, when the price reaches first pending, which is at the red line range, the second trade is opened. When the price reaches the blue line, two trades are closed with a small profit. Then instead of a loss due to your wrong position, you manage to exit the trade with little profit. Example picture

3. But if for any reason, it was unable to reach the blue line, by returning to the range of the first trade, second pending (third trade) is opened. Now, if the price reaches the green line, three trades will close with a small profit. Example picture

4. If you opened the third trade and the price did not reach the green line, this time when the price reaches the red line range and the second trade, third pending (fourth trade) is opened. Now, when the price reaches the blue line, four open trades are closed with a positive outcome and a little profit. Example picture

The EA does not open more than four trades and the first trade volume is calculated on the same basis.


Parameters

  • DeleteAllObjectsWhenRemove: just when you want to remove the expert and its objects from the chart, set this parameter to True. In other case, it should be False.
  • SLTelorance: points above or below the red line for the second and fourth trades.
    Note: parameter input unit is point and each 10 points is 1 pip.
  • ThirdTradeTelorance: number of points above or below the red line for the third trades.
    Note: parameter input unit is point and each 10 points is 1 pip.
  • SpreadPlusToSLTelorance: if True, the EA places buy stops and adds the value of spread to SLTolerance parameter to set their distance from the red line (SL).
  • FixSpreadAccount: if the spread is fixed in your account, set this parameter to True. In accounts that Spread is variable, the EA in calculating the volume of trades, considers spread 1.5 times of its value at that moment to take into account about the maximum possible amount of spread in its calculations.
  • TradeAlert: with the opening of each pending and placing a new pending order by an EA, an alert is displayed, and if Enable Push Notification is enabled, a notification will be sent to MetaTrader of your phone.
  • UseCloseWithTarget: if True, the EA sets take profit and stop loss for each trade according to the type.

Attention: For more information about EA parameters and other important points that you have to know, please read the full description in the blog.

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