Expert Advisor based on BB MacD and Donchian Channel

The idea of the trading system is as follows: market entries are performed when BBMACD changes dot color, in the next bar. The SL and risk is determined by the Donchian Channel indicator.

The Expert needs 2 modes of working:

The user can choose if the EA works only in normal mode or in Normal and Recovery mode if activated, the EA must change from one to another as indicated below, it will always be a cycle that starts from 0 in normal mode, if it has benefits it will restart to normal mode again at 0, if on the contrary it has losses they will continue the following indications.

The Risk can be defined by user for trades in main normal mode and both Scout in a %. Calculating the lots for the % assigned based on the current balance and distance to the SL.

Normal. Open 2 positions with the stoploss in the opposite line of the Donchian Channel, the main one 1 with a RR defined by user, so if the Stoploss is 300 and the RR “1” the tp 300, if the RR is “1.5” 450Tp... and the scout one without TP, but the same SL (300 in the example) Scout closes when a new signal appears.

If the losses are less than the risk, F.E. the risk of the normal orders are 1%(x2) risk and the last trades losses are 0,2%(main) and 0,2% (scout) sum 0,4% so stay in normal mode.

Recovery, If the Losses are greater than the % of risk open 1 order (main) with the same SL and TP and the risk is the amount of losses, and a Scout (optional) with the same risk as in normal mode.

Example (pic attached as example1)

Risk 1%

1. an operation is opened, it has a loss of 0.4% (x2 with the scout). When it does not reach 1%, it is still in normal mode.

2. A second operation is opened, we continue in normal mode but it does not reach the SL but almost 0.9% (current loss 0.8% of previous + 1.8% now = 2.6%, so recovery is activated, since it is greater than 1%)

3. A new operation is opened, this one of recovery, the risk of main would be 2.6% that of scout would follow in 1% for the calculation of lots, has a small gain 0.4% in total. Then the current loss is 2.2%, recovery is not deactivated until all losses are recovered.

4. a new loss of 0.2% losses rise to 2.8%

5. 0.4% loss 3.2%

6. With the risk at 3.2%, the main one would recover the losses, the scout would remain open until 7 opposite signal.

7. The EA would return to normal mode restart the cicle and open a new one with the 1% of normal risk…

Recovery Mod essentials:

Once the recovery mode is activated, it will remain until recovering the losses that activated it and those that were caused during the mode and will return to normal mode.

The maximun consecutive recovery trades and the maximum risk could be defined by user or 0 (infinity) till recovery so:

• If the maximun consecutive recovery is set to 0=to infinity, if 5, the EA will try to recover 5 times and reset to normal mode.

• Maximun risk of recovery is made to limit the “martingale” of the Recovery, if the recovery fail to recover the loses no more than the risk of this parameter will be open. IF max recovery risk is 5% the greatest order of the EA will be with 5% risk. Example, if the losses are 7% the EA will open an order of 5% if succeed the next order will be open with 2%, if fails the risk will be 2% + the last losses till recover with a maximun of 5%.

• If the maximun risk is reached, no open for scout even is recovery scout is set to YES.

When all recovery is finished the counters return to 0 and the normal mode begins. Or If the maximun consecutive recovery is reached.

Trading Signals for both modes:

• Closes and open a new order if the BBMACD change color in the opposite direction, only for closed bars.

• No open a new trade if the sl or tp is reach until a new signal.

Trailing Stop.

In the Normal mode: If the main position reach TP, the SL of the scout order goes to breakeven.

In the recovery Mod: if the price goes in the direction of the trade and is at a defined by user distance of the TP the SL goes to Break Even, Example: fix amount of pips 10, if the buy opening is at 1.050, the SL 1,000 and the TP 1.1000 and the price goes to 1,090 the sl goes to BE

Positions are opened: at the market price, when a new bar open if the BBMACD change color in the opposite direction, only for closed bars.

Close by Take Profit:— during position opening, Take Profit of main order is defined by RR parameter.

Trade in different pairs separetly The basket of losses will be different for every pair. And managed that way

User definable parameters:

• Magic Number: for every pair

• Recovery Mode: ON, OFF

Normal mode.

• Risk (percentage of balance 1=1% 0,5=0,5% balance…)

• Reward (multiple of Risk, if 1, sl 200 tp 200 if 1,5 sl200 tp 300…)

• Use scout in normal mode (yes or not)

• BBMACD

  • Fastlen:

  • Slowlen:

  • Length:

  • Stdv:

• Donchian Channels

  • Bars to count

Recovery Mod

• Maximun trades no take of consideration of scout only the main (0 = infinity)

• Maximun Risk in % only for the main (0= infinity)

• Distance to TP to trigger BE

• Open Scout. Yes or not

Information in screen:

• Magic number

• Mode running actually (Normal or Recovery)

• Level of recovery mod (numer of attemps)

• Risk in recovery mod in %

• Total losses fo the current Recovery basket (only for that pair and cicle), currency of the account.

Coment in order

Main (Normal Mode)

Scout (Normal Mode)

Recovery and number or attempt (Only in Recovery)

Recovery Scout (Only in Recovery)