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Multi Purpose Recovery Dashboard

This robot uses strategically grid, recovery and other methods to profit from losing trades. Can be used fully automated or with your own trades.

Can be used on a single currency, or in a dashboard mode where trades for all the selected currencies can be opened and managed from a single chart with common settings.

1) Entry

Open a trade using the EAs strategy or manually and let it run.

  • Entry_Strategy: How the EA enters the first trade. Set to External Trade and Magic to 0 to use with your own trades
  • The Double Trader is the default entry method included here.
  • Lot: Fixed Lot
  • Auto Lot: True for auto Lot
  • Lot_Percents: When Auto Lot is true
  • Initial Take Profit: Take Profit
  • Initial_Stop_Loss: Stop Loss
  • DT_UnClosed_Trade_Take_Profit: Change the trade’s take profit of the Double Trader unclosed trade

2) Grid

If the trade becomes losing the EA will first (optionally) open additional trades in the same direction and close them all together once an overall profit is reached.

  • GridAdditionalTrades: Additional Grid trades to open.
  • GridGap: Grid Gap
  • GridMultiplier: Grid Multiplier
  • GridTP: Grid TP

3) Recovery

If no profit is made a recovery mode is applied where the previous trade(s) are closed and a new trade is placed in the opposite direction with a specific take profit , stop loss and lot size. If the stop loss is reached then a new trade to the opposite direction with same take profit and stop loss gets opened again with a different lot size. Eventually the take profit is reached in either direction and it will recover the losses of the previous trades.

  • Recovery Stop Loss: Pips the recovery trade can lose
  • Recovery Take Profit: Pips the recovery trade should win
  • Recovery_Lot_Calculation_Mode: Method for calculating recovery lots
    1. Profit in Pips Factor: Profit at the end of recovery equal to initial lot multiplied by the number of pips specified
    2. Profit in Amount: Profit at the end of recovery equal to amount
    3. Lot_Multiplier: Each trade is a multiple of the previously closed trade
  • Recovery_Lot_Value: Value of the future recovery lots based on the calculation mode

4) More Method

During the recovery mode there are options for supplementary trades to be opened that could add gains and end the process faster.

Opens an additional trade to the direction of the last trade and closes it earlier to cash some of the market movement .Re-open if the active trade moves back to the entry level.

  • Enable_More_Trade: More trades during recovery
  • More_Trades_Start_No: After how many trades in the cycle the mode is activated
  • More_Trades_TP: More Trade Take Profit
  • Re_Enter_Trade: Allow re-entry of More Trade
  • Gap_From_Entry: The gap from the entry price of the active for a new more trade to be allowed

5) Counter trade

Opens a trade to the opposite direction of the last recovery trade to cash some gains when the last recovery trade reverses a bit.

  • Enable_Counter_Trade: Enables the use of the Counter Trade option
  • Counter_Trade_No_Start: After how many trades is activated
  • Counter_Activation_Pips: Pips to be won by the last active trade to activate counter trade
  • Counter_Trade_Lot_Size: Lot size
  • Counter_Trade_TP: Counter Trade Take Profit

6) Risk Settings

Will terminate the recovery if they apply for the active currency

  • Max_Orders: Max recovery trades to open
  • Max_Loss_Amount: Max amount to be lost
  • Close_All_at_This_Profit: End recovery if this profit is made

7) Multi-Currency Limits

Prevent new initial trades

  • Max_Active_Symbols: Symbols to open trades
  • Max_Trades_For_Signle_Symbol: Max recovery trades
  • Max_Lots_For_Signle_Symbol: Max Net Lots
  • Max_Floating_Loss: Max floating loss in the account (Positive number)

Other Settings

  • Dashboard Mode: Use multiple currencies
  • Close All: Closes all trades and recoveries
  • Light Mode: EA runs faster by using pendings and some display restrictions
  • Currencies_Used: No of currencies to display under dashboard mode
  • Currency#: Currency at position #
  • Max_Spread: Max spread
  • Use_Time_Zone_1: Timezone for initial trades to open. Uses the broker’s time.
  • Time_Zone_1_Start: Start time for trades to be allowed
  • Time_Zone_1_End: End time for trades to be allowed
  • Close_Trades_on_Friday: Closes trades end of Friday
  • Friday_Close_Time: Friday trades closing time
  • Trade_Fridays: Allows initial trades on Friday
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Version 1.1 2017.10.20
- Fixed a small bug in More Trade Mode