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Loss Recovery Trader MT5

5

Attempts to recover losing trades.
If a trade moves in the wrong direction, the Zone Recovery algorithm begins.
An alternating series of Buy and Sell trades at two specific levels take place, with two Exit Points above and beyond these levels.
Once either of the two exit points is reached, all trades close with a combined profit or break even.

 To use 
1) Place the EA on a chart and select how the first trade will open (Manual/Via EA strategy/Use EA panel/External EA)
2) Configure your recovery region settings (Gap Pips/TP Pips / Lot Calculations)
3) Adjust your risk preferences 
4) All others are optionals

Usage
1. Initial trade Settings 

FistTrade option allows you to select the method the first trade opens
  • External_Manual_Trade : Manually opened trade
  • EA_Panel:  Buttons for opening Trades on Screen
  • External_EA_Trade : Opened by an external EA (remember to match the magic numbers between the EAs)
  • Moving Average: A Moving Average strategy
  • Buy /Sell Continuous:  For Non Stop Buy /Sell 
  • Lot: Lot Value
  • Take Profit: Take Profit in Pips
    2. Set recovery Settings
    Recovery Pips Gap: Pips to be lost in order for an opposite direction trade to opened
    Recovery Profit Pips: Pips to be won by the last trade for the recovery to complet
    Recovery Trades Type: Instant or Pending (Instant recommended)
    Set Take Profit At Profit Exit Levels (not recommended) : For selecting if trades will close with TP/SL or instant trades 
    If the option is false(as recommended) can configure the following two
    • Min Profit Amount To Exit Trades : Trades to be in profit before closing
    • Protective TP and SL   : A wider TP/SL is added to trades in case MT4 is disconnected 
      RecoveryLotMethod option allows you to select the method the Recovery lot sizes get calculated
      • Profit_In_Amount: Once recovery is over the Net Amount Won will be equal to this
      • Multiplier_Addition: Each trade will be a multiple and addition of the previous trade
      • Custom Lots: User can specify own lots modify Lot Size. It is done automatic.
        3. Risk management
        Max Active Trades: Max trades that can be opened
        Close Trades When Max Trades Exceeded: If max number of trades is reached and last opened trade is losing the Recovery Pips Gap all trades closes
        Max Profit Amount : Closes all trades once the account’s total open profit reach this amount
        Max Loss Amount: Closes all trades once the account’s total open losses reach this amount
        Max Spread:  Max Spread for trades to be placed.  Is highly suggested to set a max spread to prevent multiple recovery trades when spread becomes abnormal 
        4. Trailing Stop And Break Even (Optional for first trade)
        Enable Trailing Stop: Enables Trailing Stop For First
        Trailing Stop Start Level: Activation level in pips
        Trailing Stop Distance: Trailing stop step in pips
          Enable Break Even: Enables Break-Even
          Break Even Start_Level: Break-Even Activation Level in pips
          Break Even Exit_Level: Break-Even Profit Level in pips
          5. Moving Average (Optional for first trade) 
          • EA would open initial trade based on two MAs if selected .
          • Buy when Fast MA>Slow MA and vice versa
          EA would open initial trade based on two MAs if selected .
          Buy when Fast MA>Slow MA and vice versa
          Requires_Crossover: true means trade opens only when the MAs cross
          MA Fast Period
          MA Fast Method
            MA Slow Period
            MA Slow Method
            6. General

            Orders Comments: Comments Appearing on Trades
            EA magic number: When using with external EA ,number should match
                Reviews 3
                CryptorT
                417
                CryptorT 2023.03.29 18:48 
                 

                Very good I love this EA it would be nice to be able to set trading sessions so that the EA on weekends not Tradet

                Duminda Athapaththu
                513
                Duminda Athapaththu 2018.05.21 13:19 
                 

                Very Good EA. Probably the only working EA in the market. Please read my comments ( Comment number 10)

                Thanks

                Quincy Baraka
                23
                Quincy Baraka 2023.10.14 14:42 
                 

                GREAT EA ,ONLY PROBLEM AM FACING IS HOW TO ADD TP/SL ON THE FIRST TRADE IT TAKES

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                Quincy Baraka
                23
                Quincy Baraka 2023.10.14 14:42 
                 

                GREAT EA ,ONLY PROBLEM AM FACING IS HOW TO ADD TP/SL ON THE FIRST TRADE IT TAKES

                Michalis Phylactou
                12541
                Reply from developer Michalis Phylactou 2023.10.14 15:52
                Thank you so much.
                Please send me a private message with your settings to assist you
                CryptorT
                417
                CryptorT 2023.03.29 18:48 
                 

                Very good I love this EA it would be nice to be able to set trading sessions so that the EA on weekends not Tradet

                Duminda Athapaththu
                513
                Duminda Athapaththu 2018.05.21 13:19 
                 

                Very Good EA. Probably the only working EA in the market. Please read my comments ( Comment number 10)

                Thanks

                Reply to review
                Version 12.0 2022.10.06
                -Optimised Operation for faster and robust operations
                -Simplified and organised inputs