News Recovery Zone EA
Expert Advisor open trades based on recovery zone strategy with news events filter to trade only high volatility times.
Expert Advisor Features
- Filter events by impact strength to trade only selected events.
- Time filter to trade only high volatility sessions.
- Customize recovery zone profit by pips or dollars.
- Option to set first trade as long, short, or pending orders.
- Set recovery zone range by pips.
How It Works
First, EA will watch the market for incoming events related to current traded symbol and then EA will enter a trade based on your selected parameter, you can set first trade as BUY trade, SELL trade, or open two pending orders BUY STOP and SELL STOP around the price according to the recovery zone area.
If the trade reached your target EA will stop trading until next event, if price goes against your trade EA will open reverse order with multiplied lot and will repeat the process until exit the whole trades with profit target.
- Martingale strategies is very profitable but also can be risky so use it wisley.
- To reduce martingale risks start with small lot size.
- Trade high impact events to reduce ranging movements.
- Choose a good broker to reduce slippage pips.
After downloading the files unzip it you will find two files the EA file and news indicator file which is called by the EA, add FXMarketStrategy Calendar inside your Metatrader Indicators folder and add News Recovery Zone EA inside Experts folder.
News Recovery Zone EA has some parameters so you can adjust it according to your needs, I'll explain it in details.
Enable Time Filter
option to enable trading only on speicified hours.
Start Trading Hour
speicifed start hour to start EA trading.
End Trading Hour
speicifed end hour to stop EA from trading.
Trade high Impact Events
Enable open trades on high impact events
Trade Medium Impact Events
Enable open trades on medium impact events
Trade Low Impact Events
Enable open trades on low impact events.
First Trade Type
Choose first trade buy, sell, or open buystop and sellstop pending orders.
Multiply order lot by this number for martingale trades.
Recovery Zone Range
Recovery zone area range by pips.
Take profit for recovery zone orders.
Close By USD Profit, Min USD Profit
option to close buy/sell trades indivitually based on total profit in USD.
Close By USD Loss, Max USD Loss
option to close buy/sell trades indivitually based on total loss in USD.
first order lot size.
enable set orders lot size based on account balance and available margin.
number of precent to risk from your balance to determine orders lot size.
orders magic number.
Show Trades Info Panel
option to show or hide trading panel from chart.
comment appears next to trade
Version 1.0 21.11.2019
- First initial version