Help with Recovery Zone
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Hello, i'v been trying to understand all the ways that are possible to build a Recovery Zone bot, but i just dont get a lot of things in the builder.
so i figure you might help me.i want my bot to buy (at whatever condition i want. MA>MA for example) without stoploss, and it will have a target of X pips above.
then, if the price goes down Y pips bellow the buy (open price level), then i want it to sell with the same X pips target without stoploss, and lot*2 from the first buy trade.now, if the price hits the sell's target then the buy and sell trades need to be closed and deleted.
everytime that it executes a trade, then i want to make a pending order that is in the same price level of the last hadge trade with the lot amount of the last trade multiply by 2.it means that the only the first buy trade and sell trades has (the same X pips) targets, and when the price touches one of the TPs, all the trades and pending orderes gets closed and deleted. and everytime there is a trade running, there's a hedge pending order at the exact price level of the first buy/sell hedge trades, and the lot number is the currently running trade's lot number but multiplies by 2.
example:
The 9 MA is above the 14 MA.
we make a buy trade at 100 with Z lots and there's a TP of X pips above it. then it makes a pending sell order Y pips below the first 100 buy open price with the same X pips TP bellow it with Z2 lots.
now, if the pending sell gets triggered, then we make a pending buy order at the price leve of the first 100 buy trade's open price with no SL and TP and with Z4 lots
and so on...**but always when the price touches one of the only 2 TPs (of the first 2 trades), then all the trades and pending orderes gets closed and deleted.
i hope you can help me build this,
Thank you. -
That is an ambitious project. Do you have any initial project to begin with?
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everything i tried wasn't even close to get this.
i can give you a basic start but i dont think it will help at all:
https://fxdreema.com/shared/lFnKXYTbci did what i thought was logical but it didn't work:
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can someone help?
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If I understand it correctly, the bot is supposed to work on the same 2 price levels all the time while executing the same sequence, right? I mean, once the TP is hit everything is reinitiated and a new sequence of trades begins, right?
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@l-andorrà yes
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Ok. Let's begin step by step. Can you please confirm the launching part you created is working as expected? If so we can move on.
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Yes it’s starts in the correct way
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Excellent. Now let's define VERY accurately how the recovery zone is supposed to work. We need a list of conditions that the EA needs to understand. Could you please list them? We don't need blocks now, just the list of conditions to be met.
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the conditions for buy and sell signals doesnt metter now, we can make it be the moving avarage or something...
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Hello. Do you mean you want to create Hedging EA?
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@guy111 That's not what I said. mean the conditions defining the recovery area, because they will be dynamic, ie will change in time.
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@guy111 Hello, i have built something similar, execpt for the pending orders which my system dont use, what is your entry and exit critaria, NOT this is not as simple as it sounds, you also need to consider what happens if your counter sell does not go to your price level and reverses back, but like i said i have a system similiar, what is your entry and exit criteria
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@Pheaktra-Capo yes
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@l-andorrà I don’t know what is ie, but try to see what I wrote at the first comment. I tried to explain in details what I wanted. If you didn’t understand something then tell me and I’ll try to describe it to you.
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@chrisbe exit every time the price hits one of the targets and enter with whatever condition (it doesn’t matter right now)
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@guy111 i don't give out such complex program i am willing to work together with you to implement it, currently the strategy i use it blows account after some time, so if you willing to work together let me know and we can discuss further.
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@chrisbe yes I’m interested
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@guy111 hello please send me a message on telegram let's take it from there my telegram is @chrisexplore, will show you what I have you show me what you have and we can get it done
