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Loss Recovery Trader MT5
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.
- Close_All: Closes all trades
- Magic: Magic number used
- Commission_per_Lot_Amount: Commission charged per Lot
1. Initial trade placement method
- FistTradeMode option allows you to select the method the first trade opens
- External_Manual_Trade : Manually opened trade
- External_EA_Trade : Opened by an external EA
- Moving Average: A Moving Average strategy
- Bollinger Bands: A Bollinger Bands reversal strategy
- The other selections open one instant trade of specific type directly through the EA
2. Set recovery region
- RecoveryZoneRangePips: Pips to be lost in order for an opposite direction trade to opened
- RecoveryZoneExitPips: Pips to be won by the last trade for the recovery to complete
3. Lot calculation method
- Lot_Calculation_Mode option allows you to select the method the lot sizes get calculated
- Profit_In_Pips: Once recovery is over the Net Amount Won will be equal to this many pips relative to first trade lots.
- Profit_In_Amount: Once recovery is over the Net Amount Won will be equal to this
- Lot_Multiplier: Each trade will be a multiple of the previous trade
Depending on your selection you can modify the relevant option
4. Initial trade settings
These options will affect ONLY the initial trade and do not apply once recovery has started.
- Lot: Lot size fixed amount
- Auto Lot: Start Lot is calculated as % from balance
- Lot_Percents: When Auto Lot is true
- Take Profit: Take Profit in Pips
- Enable_Trailing_Stop: Enables Trailing Stop
- Trailing_Stop_Start_Level: Activation level in pips
- Trailing_Stop_Distance: Trailing stop step in pips
- Enable_Break_Even: Ensures a fixed amount of pips is secured once activated
- Break Even Start_Level: Pips to be won for activation
- Break Even Exit_Level: Min pips to be secured and exit the trade
5. Recovery risk management
- Max_Orders: Max Orders that can be opened
- Close_Trades_When_Max_Orders_Exceeded: Closes all trades if max number of trades has been reached and the next trade is supposed to open.
- Max_Loss_Amount: Closes all trades once the account’s total open losses reach this amount
- Close_All_at_This_Profit: Closes all trades once the pair’s total open recovery profits reach this amount
6. Grid Settings
You can apply grid/martingale prior to recovery, or recover using a grid EA.
- EnableGrid: Enables Grid Trades
- GridGap: After how many losing pips a new grid trade opens
- GridAdditionalTrades: Additional Grid to the initial trade that can be opened
- GridTP: Combined Take Profit in pips. It is calculated based on the average opened price.
- GridMultiplier: How much bigger each trade gets
- External_Trade_Number_of_Trades: Use with External EA/Trade with more than 1 trades. Specify how many trades before recovery starts.
- Use_Grid_Stop_Loss_Amount: Closes all trades if this amount is lost during grid
Grid Trailing Stop and Break Even Options available based on the average pips won
7. Time Filter
- Use_Time_Zone_1: Begins trades only in specified times
- Time_Zone_1_Start: Start time
- Time_Zone_2_End: End time
9. Advanced Settings
- Avoid_Grid_and_Recovery: No grid or recovery used.
- Initial_Stop_Loss: When above true SL used.
- Min_Recovery_Amount_for_closing: Recovery won't close if this profit is not reached
- usePendingOrders: Select between pending orders or instant trades for recovery
- useSafetyPlacement: Forces instant trade if recovery order not placed
- Max_Drawdown_Percent: Closes all trades once drawdown reaches this percent
- enable_earlier_closing: Closes all trades after specified number of trades and profit reached
- earlier_closing_trades: Trades to be opened
- earlier_closing_profit_amount: Profit to be reached
- enable_profit_trailing: Applies amount based trailing stop
- profit_trailing_trade_start: Trades to be opened
- profit_trailing_amount_start: Profit to be reached for activation
- profit_trailing_amount_step: Profit to be lost from max profit won