Icarus is an automated trading system for MetaTrader 4 that employs a grid strategy with Martingale lot scaling. It utilizes Bollinger Bands and the Stochastic Oscillator to identify entry points, offering a conjunctive mode for filtered execution. The EA manages risk through maximum position limits, equity warning thr
Trading robot · MT4
Zone Recovery EA
Zone Recovery is a MetaTrader 4 expert advisor that employs a hedging strategy to manage trades within a specific price range.
High risk
GitHub stars1
Forks0
Last update2 years ago21 Jan 2024
LicenceNone stated
Overview
Zone Recovery EA uses a recovery algorithm to open opposite positions with increased lot sizes when the market moves against the initial entry. The EA calculates a lot multiplier based on the risk-reward ratio and aims to close the entire basket of trades at a combined profit target. The repository lacks a README, and the code indicates a maximum of eight recovery orders before attempting to exit at a middle price level.
- Hedging-based recovery algorithm
- Dynamic lot size multiplier calculation
- Automated basket profit exit
- Configurable recovery gap and exit points
Details
Author
inubayuaji on GitHub
Type
Trading robot
Platform
MetaTrader 4 (MQL4)
Strategy
Hedging, Martingale
Markets
Any symbol
Timeframes
Any timeframe
Risk profile
- Uses martingale lot scaling: losses can grow fast
- Holds opposite positions at once
- Trades without a fixed stop loss
EA files
Input parameters
Read from ZoneRecovery.mq4. Defaults are the author's; change them in the EA's Inputs tab.
| Name | Type | Default | Description |
|---|---|---|---|
recoveryZoneGap | int | 200 | Recovery Gap in Point |
recoveryZoneExit | int | 400 | Recovery Exit in Point |
initialLotSize | double | 0.01 | Initial Lot Size |
How to install it
- 1Download the sourceUse "Download source (.zip)" above, or clone inubayuaji/expert-advisor from GitHub, and unzip it.
- 2Open the data folderIn MetaTrader choose File, then Open Data Folder, and go to MQL4/Experts.
- 3Copy the filesCopy the .mq4 file into Experts.
- 4Compile in MetaEditorOpen the file in MetaEditor and press Compile. Fix any missing includes the compiler reports.
- 5Test before you tradeRun it in the Strategy Tester, then attach it to a demo chart and allow algorithmic trading.
Third-party code. ForexR did not write, test or endorse this EA, and the summary above was generated automatically from its README and code. ForexR lists only repositories with readable source code and never hosts files. Read the code, backtest it and use a demo account first; automated trading can lose money quickly.
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