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Recoil

Trade Strategy:

The Trade Strategy is based on the fact that a rollback comes after "a strong" movement. Indicators are not used, only price is analyzed. Input parameters (eMovement, eRecoil, eTakeProfit, eNextTrade, eRiskMove) are specified for 4-digit quotes. If the Expert Advisor operates on pair which has 3- or 5-digit quotes, the Expert Advisor will multiply that values by 10 itself.

The Expert Advisor places pending orders by averaging the price if the movement is against us. You can limit how many times the volume can be increased. The Expert Advisor analyzes input parameters and in case they contradict each other, the Expert Advisor won't be started showing the corresponding message. Input parameter eIsRisk defines trade volume of the Expert Advisor: 0 - fixed lot, 1-5 lot increases depending on free margin size (1-5 percents).

The Expert Advisor show messages in 5 languages (EN-English, RU-Russian, DE-German, FR-French, ES-Spanish). When trading in the "Order execution by market" mode, Take Profit and Stop Loss are place for open positions. The Expert Advisor can perform deals either with one pair (eIsMulti=false), or with several pairs (eIsMulti=true). In latter case the input parameters are loaded from a file.

File format:

[EURCHF]
eCalcPeriod=24
eMovement=250
eRecoil=100
eTakeProfit=50
eNextTrade=50
eLot=0.1
eKolTrade=3
eKoeff=1.7
eSlippage=2
eViewLogs=0
eTimer=60
eIsRisk=5
eIsMod=0
eRefilling=3
eRiskMove=100
eRiskPeriod=20
eCheckMarginInit=1
eMaxOpenPosition=12
[XXXXXX]
eCalcPeriod=XX
........
eMaxOpenPosition=12

The file should be placed in the folder \\MQL5\Files\MultiBoot(Recoil.txt).

File example:

[GBPUSD]
eCalcPeriod=24
eMovement=150
eRecoil=50
eTakeProfit=50
eNextTrade=30
eLot=0.1
eKolTrade=4
eKoeff=1.5
eSlippage=2
eViewLogs=1
eIsRisk=2
eIsMod=0
eRefilling=5
eRiskMove=75
eRiskPeriod=22
eCheckMoneyInit=1
eMaxOpenPosition=3
[EURUSD]
eCalcPeriod=108
eMovement=225
eRecoil=70
eTakeProfit=100
eNextTrade=60
eLot=0.2
eKolTrade=1
eKoeff=2
eSlippage=2
eViewLogs=1
eIsRisk=0
eIsMod=0
eRefilling=4
eRiskMove=75
eRiskPeriod=10
eCheckMoneyInit=1
eMaxOpenPosition=3

The Expert Advisor has flexible settings, so each trader can adjust it to their own work style. A good solution for those who want to get a ready-made Expert Advisor for less money.

Input parameters:

  • eLang - language of messages (EN, RU, DE, FR, ES);
  • eIsMulti - false - regular mode, true - multi mode;
  • eCalcPeriod - period for watch movement search;
  • eMovement - movement in points;
  • eRecoil - rollback in points;
  • eTakeProfit - profit in points;
  • eNextTrade - number of points before the next deal;
  • eLot - initial lot;
  • eMagic - magic number;
  • eKolTradeIncrease - deal, with which the volume start to increase;
  • eKoeff - lot increase rate;
  • eSlippage - slippage size;
  • eViewLogs - show log: 1 - Yes, 0 - No;
  • eTimer - number of seconds for the timer to trigger if eIsMulti = true;
  • eIsRisk - lot increase depending on the free margin size - (1-10) percent (can be fractional, e.g. 1.5%), 0 - do not increase;
  • eIsMod - use modification: 1 - Yes, 0 - No (places profit according to fractal, which is below our position; it allows increasing the number of profitable trades);
  • eRefilling - number of lot increases after the first deal;
  • eRiskMove - big movement, after which it is better not to trade;
  • eRiskPeriod - time to wait (0-no filter);
  • eCheckMoneyInit - check whether you have enough money for a series of deals (at initialization of the EA);
  • eMaxOpenPosition - number of positions opened simultaneously if eIsMulti = true;
  • eFile - file for loading the input parameters if eIsMulti = true;

The Expert Advisor default parameters are set for GBPUSD.

MetaTrader 4 version can be downloaded from here: https://www.mql5.com/en/market/product/1450

No reviews
Version 2.61 - 2015.03.27
Code optimization.
Version 2.55 - 2013.08.20
The Expert Advisor now has a custom optimization criterion "Custom max".