Zone Recovery EA for MT4

Either you can develop the EA from scratch or you can update attached EA (i have source code).

https://www.youtube.com/watch?v=JzN1fEZmc40

I need a zone recovery EA that open hedging orders if price goes against a initial order.

EA has 2 modes to open initial order :  “Instant Mode” and “Indicator Mode”  (RSI ). 

In instant mode, Long order is placed instantly if there is No position on both side.

In Indicator mode, RSI indicator is used for initial order.

Once the cycle is closed in profit, open new series.

 A: open first order { Set Tp , don't Set SL}

B: if first order is in loss, enter Zone Recovery. → Zone and TP prices are all set up for trade.

C: if any Hit Tp line : close all order

Zone Recovery (Hedged position):

if Buy hit opposite Line : Sell (sell lot = buy Lot * Lot Multiplier) , keep the buy order .

if Sell hit opposite Line : Buy (buy lot = sell Lot * Lot Multiplier) , keep the sell order .

This EA comes with zone recovery feature that will activate once price move against the initial entry after x pips or percent of the initial order price  (zone). 

 INITIAL TRADE SETTING ----------------------------------------------------

Initial Lot size : 0.05

Oder Type Setting : Pending order (limit order) or Instant order (market order)

-Instant Mode -> if there is No position, instant order ‘Long side’

-Indicator Mode ->

  RSI (break up or break down or below 50 or above 50) = > long or short

TP Setting for Initial order : 30 pips

 ZONE RECOVERY SETTING :

If market trend goes against the initial order and meet zone recovery line

-> Buy and Sell hedge mode

Once Zone recovery is triggered, All prices for trade will be fixed until all position is zero (until the cycle is completed)

-Oder Type Setting : Pending order (limit order) or Instant order (market order)

-Recovery gap : a pip(ex.100) or percent of the initial order price (ex.1%) ( this set a zone for this trade cycle)

-Upper price :  a pip(ex.300)  (TP and Stop lose line)

-Lower price :  a pip(ex.300)  (TP and Stop lose line)

-Recovery order size :

  Multiple of order size (lot ) : Initial order size * 1.5

Max Recovery Trades : 10

STOP LOSS SETTING : On / Off

When Max Recovery trade reached or Recovery order cannot be done because of shortage of balance or too much order Lots.

And Max loss value(%)  >= 10%  (Equity stop / equity protector)

then close all position (both sell and buy) -> the cycle is complete in loss. Dont open new trades on this loss day. Open series on next day as per broker time.

EA properties: