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Zone Recovery Trading System EA

Quoting zoheb01
{quote} Great journal panaka09 I've been thinking of doing the same. I will be keeping a close eye!
Hi zoheb01i was wondering if you could use this EA on Renko bars as well as the risk seems more controlled if trades are opened on the close if a candle

Thanks
Quoting zoheb01
Hey Guys, I am super happy to release today the OGT Zone Recovery EA v1.0. The Zone Recovery trading system is a money management hedging strategy that allows you to profit EVEN WHEN PRICE GOES AGAINST YOU!. You set a fixed take profit which if hit the EA closes out at a profit. If the market moves against you by x pips (which you define) it opens a trade in the opposite direction (hedge trade) at a slightly higher lot size (again which you define). This process continues until price breaks in either direction. You can watch my journal where I go...
Greetings from Estonia!
I'm a man for over 50 years
I have experienced that manual trading myself is hard work and and very stressful.This work has to be done by a robot and the only sensible solution is the Zone Recovery strategy.
Thank you for doing such a great job!
Is it possible to have a private conversation?
I would like to present my ideas on how to develop a robot according to a zone recovery strategy. I see opportunities every day.
Kind Regards,
Tiit
Hello and thank you for the participation of the expert advisor,
I downloaded the file and connected it to a demo to test it, and unfortunately I can not run the EA I try to run BACKTESTING but it does not open any trade ...
Can anyone help me with the session? Why does it not work for me?
Dear zoheb01,


Actually we can make it fool proof EA. There is no need of RSI and ATR things the only thing required is whenever the EA switched on it should place the limit orders one for buy stop at the top of the nearest swing high (depends on the timeframe ) and sell stop on the nearest wing low. When one of the entry triggered then the zone recovery should turned on. Can you please modify the code as per above strategy. you can use the ihighest function to find out the nearest high and ilowest for the low
Quoting redforex
Dear zoheb01, Actually we can make it fool proof EA. There is no need of RSI and ATR things the only thing required is whenever the EA switched on it should place the limit orders one for buy stop at the top of the nearest swing high (depends on the timeframe ) and sell stop on the nearest wing low. When one of the entry triggered then the zone recovery should turned on. Can you please modify the code as per above strategy. you can use the ihighest function to find out the nearest high and ilowest...
It seems to me that you are using pending orders to initiate the trade. No mention of pending orders cannot work in the back testing, I think, the spirit of Zone Recovery is no loss but only win. You may select indicators whatever you like to help you to initiate a trade, when the price goes favorable to your trade, you take the profit and the trade is end with win, if not, then perform zone recovery operation to reach no loss.
I believe that this system is very promising but there is a problem. You cannot use it on two or more different pairs at the same time. I think you have to add a magic number so it can be used with a basket of pairs.
Quoting TeChaoLiang
{quote} It seems to me that you are using pending orders to initiate the trade. No mention of pending orders cannot work in the back testing, I think, the spirit of Zone Recovery is no loss but only win. You may select indicators whatever you like to help you to initiate a trade, when the price goes favorable to your trade, you take the profit and the trade is end with win, if not, then perform zone recovery operation to reach no loss.

Hi
Thanks for your insight on the zone recovery system A very interesting concept. I am keen to look at that EA you mentioned on the video fry mql5. I cannot seem to get access to the link. Can you repost the link or direct me to where I can find this?
By the way is it reasonably priced Thanks
Malcolm
Hi. Should the recovery Take Profit be higher than the actual TP? And does the Ea manage other trades?
Hi Zoheb,

found this thread on Sep 2022. amazing tool. thank you for making it. i love the pending order features. bassicaly i use EMA as triger setup.. and the rest let the EA do the hedging trade management. i would have to have a trailing function or SL+ if its possible.

cheerz,
eru
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Attached File(s)
File Type: ex4 zoneTradingAuto.ex4   212 KB | 667 downloads
Hi,

Would it be possible to add a feature of the EA?

With a tight recovery zone if the price moves past the planned recovery buy/sell stop, the buy/sell stop is not opened and we get 'Error 130' with EA saying it cannot find the recovery buy/sell stop.

When this happens, can the EA be updated so that:

1. if it cannot place a buy/sell stop, can the EA open a buy/sell order at the current price
2. the ea still have to work with placing later recovery zones

Sincerely
great ea! is it possible to use another indicator instead of rsi ?
Quoting P.w.w
Hi, Would it be possible to add a feature of the EA? With a tight recovery zone if the price moves past the planned recovery buy/sell stop, the buy/sell stop is not opened and we get 'Error 130' with EA saying it cannot find the recovery buy/sell stop. When this happens, can the EA be updated so that: 1. if it cannot place a buy/sell stop, can the EA open a buy/sell order at the current price 2. the ea still have to work with placing later recovery zones Sincerely
I'm a professional coder and i've been playing with the source for the OGT Zone Recovery 1.5.

1. Seems to me that the following lines are all that is needed in the code to only close pending order for the Symbol that has reached TP or close position required..no need to add different magic numbers for each symbol as all other code checks the orders symbol matches the current chart symbol where it needs to.

bool DeletePendingOrders(CLOSE_PENDING_TYPE pDeleteType)
{
bool error = false;
bool deleteOrder = false;

// Loop through open order pool from oldest to newest
for(int order = 0; order <= OrdersTotal() - 1; order++)
{
// Select order
bool result = OrderSelect(order,SELECT_BY_POS);

int orderType = OrderType();
int orderMagicNumber = OrderMagicNumber();
int orderTicket = OrderTicket();
double orderVolume = OrderLots();
string orderSymbol = OrderSymbol();

if (orderSymbol != _Symbol) continue;

// Determine if order type matches pCloseType
if( (pDeleteType == CLOSE_ALL_PENDING && orderType != OP_BUY && orderType != OP_SELL)
|| (pDeleteType == CLOSE_BUY_LIMIT && orderType == OP_BUYLIMIT)


2. Regarding "if it cannot place a buy/sell stop, can the EA open a buy/sell order at the current price"

thats a good idea unless the stop wasn't opened because of a trading restriction eg. not enough money, Live trading not enabled etc. but it could be attempted. Better to try open a STOP if it can and if not , then open a live trade.


3. Definitely needs a new and better ENTRY strategy....thinking about this and i'm going to code trade entry based on using the indicator posted on page 2 of this thread.... 4TF HMA arrows alerts.mq4


I think the only way to trade this EA strategy is

a. to really start with a small initial lot size and a small lot multiplier....cos ive seen the EA open 11 trades before the ranging market ended and it finally hit the TP !! I've been using initial lot size 0.01 with a multiplier of 1.4 on an account of approx $1K.
If this EA can survive the margin required sometimes after multiple trades are open then its all good.

b. a better entry indicator should be used

anyway, just my thoughts.

any comments or messages welcome

IS ANYBODY STILL READING THIS THREAD ?
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Attached File(s)
File Type: ex4 VisualTrading.ex4   381 KB | 356 downloads
  • Post #215
  • Quote
  • Edited 12:12pm Dec 28, 2022 11:48am | Edited 12:12pm
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I used this EA for my manual entries. It is somewhat successful to protect losses, but in ranging market it goes into loop, pulling in many entries. So I switched to another recovery EA that is attached here. If someone can combine both ideas and create an expanding zone recovery EA, it may be better.

This EA places orders above and below the current open position based on the chosen distance (Delta). All are closed when the profit reaches the chosen profit percentage.
Attached File(s)
File Type: mq4 cm-insurer.mq4   11 KB | 460 downloads
Quoting saslam
I used this EA for my manual entries. It is somewhat successful to protect losses, but in ranging market it goes into loop, pulling in many entries. So I switched to another recovery EA that is attached here. If someone can combine both ideas and create an expanding zone recovery EA, it may be better. This EA places orders above and below the current open position based on the chosen distance (Delta). All are closed when the profit reaches the chosen profit percentage.{file}
Be more specific and i will look into coding something.
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Quoting kourosh1347
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You created that tool? :o

Looks good!
Live to trade another day.
Quoting pabslabs
{quote} Be more specific and i will look into coding something.
What I mean is, after certain number of repetitions the recovery zone should expand in size so that the orders will be executed after the market moves above or below the range.

In the other EA the orders are stacked at specified intervals above and below the existing position.
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