Recovery System for MetaTrader 4/5
Info
The Recovery System for MetaTrader 4/5 is a Expert Advisor for MetaTrader 4 that this recovery system is designed for metatrader 4/5, but can be adapted for other expert advisors (eas). The system initiates a buy order (customizable) and closes it if the price rises.
Usage
This tool is typically used for automated trading on major forex pairs and gold.
Platform
This Expert Advisor works exclusively on MetaTrader 4 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL4/Experts folder via File ? Open Data Folder in MetaTrader 4.
How to Install and Use Recovery System for MetaTrader 4/5
1. Installation: Open the "File" menu, select "Open Data Folder," navigate to MQL/Experts, paste your file, and restart the terminal.
2. Activation: Drag the EA from the Navigator onto a chart, ensure "Allow live trading" is checked in the Common tab, and verify the AutoTrading button is green.
3. Optimization: Right-click your chart, choose "Expert List," click "Properties" to adjust inputs, and save your preferred setup as a set file for future use.
4. Maintenance: Regularly check the "Experts" tab in the terminal window to monitor trade logs and potential execution errors.
Frequently Asked Questions
Q: Why is my EA not opening trades? A: Check the "AutoTrading" button, ensure "Allow live trading" is enabled, and verify your broker allows automated trading on your account type.
Q: Can I run multiple EAs on one chart? A: No, each chart can only host one active EA; however, you can open multiple charts for different currency pairs to run several EAs.
Q: What does the "smiley face" icon mean? A: A smiley face in the top-right corner of the chart indicates the EA is successfully running; a frowny face means it is disabled.
What this tool does
This recovery system is designed for MetaTrader 4/5, but can be adapted for other Expert Advisors (EAs).
Typical Use Case
This Expert Advisor excels in automated trading and technical analysis on MetaTrader 4.
Compatible Platform & Setup
This Expert Advisor works on MetaTrader 4. Place the file in the MQL4/Experts folder and restart the terminal.
Description & Settings
Related: Trade Error Classifier and Recovery for MQL4 - another powerful expert for MetaTrader 4 traders.
This recovery system is designed for MetaTrader 4/5, but can be adapted for other Expert Advisors (EAs).Also recommended: lock system 2+1 - similar expert with strong performance on MetaTrader 4.
The system initiates a buy order (customizable) and closes it if the price rises. If the price drops, the EA opens a sell order at the buy price minus a specified distance. If the price doesn't reach the overall profit target and rises, the EA opens a buy order at the sell price plus the distance multiplied by a multiplier, and this process continues.
The distance, lot size, and profit are adjustable with multiplier settings. Users can modify the distance, lot, and overall profit based on the number of open orders.
You may also like: cross moving average (ma) trading system - excellent alternative for expert users on MetaTrader 4.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property version "2.2"
#property strict
#property description "this code is educational. feel free to use, modify and upgrade as you wish. visit robotfx.org for professional trading tools"
enum po_koefs
{
_1=1,/*1*/ _10=10,/*10*/ _100=100,/*100*/ _1000=1000,/*1000*/
};
extern string oth_set = "///////////////other settings///////////////////";.......
⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.