EA Dual Fibo with recovery system

This EA must work with an indicator provided by me, I do not care if the code of the indicator is used inside of the EA or outside.

This EA must work in the current chart timeframe.

First, the EA identifies a consolidation box drawn by the indicator and highlights the maximum and minimum of the consolidation (usually wider than the box itself), after this, the EA drawns two fibonaccis retracements (one upside and other downside) and place 2 pending stop orders exactly in the line of 161,2% in both fibonaccis (in the upside its a buy stop and in the downside its a sell stop), the TP of this orders is exactly the line of 261,2% of each Fibonacci. Please note that the distance between the order and the take profit its the same of the consolidation (equal to 100%).

As soon as one of the orders is triggered, the EA erase the contrarian pending order and place a recovery order in the border of the consolidation (line 100% or 0% of the Fibonacci wich coincides with the maximum or minimum of the consolidation). This recovery order it’s a multiplied order wich multiplier is set by the user in the settings and have a TP in the contrarian border of the consolidation (the formulae for the size of the recovery order is = Initial Lot * Multiplier).

Just in case of none of the both first orders did reach the take profit, the EA places again a order in the line of 161,2% multiplying by 2 the size of the last order (formulae = Initial lot * Multiplier * 2)  and this procedure goes on in a loop until the TP is reached. All the stop losses must be set exactly in the same place of the recovery orders.

Some features that MUST HAVE in the EA:

1.       A range limiter for the consolidation in the user settings wich prevents the trade if the range is bigger than the limit.

2.       An option to use a percentage of the range, just like a reduction of the total range expressed in percentage set by the user (if the user set 80%, the EA drawns the fibonaccis with a distance of 10% from each limit (max and min) for example).

3.       An option to use trailing stop with trailing step

4.       An option to increase the target (tp) using the fibonacci proportion, the default set is 261,2% for the TP but the user can increase this target by a percentage number (example: if the user set 100% for increased tp the EA set the tp in 361,2% instead of 261,2%.

5.       Auto Money management and a option for fixed lot.

6.       An option to use or not the recovery system.

7.       And finally, but very much important, an overtrading limiter. A tool that prevents the EA to open another operation if there is an open trade or limit for the amount of open trades.

8.       A spread limiter for the execution of the pending orders (with exception of the recovery orders).

The user settings will have these fields:

MONEY MANAGEMENT

Initial Lot:                                          0.00

Auto Money management:        True/false   (if true, the EA increase the lot based in the risk of the stoploss)

Percentage of risk:                        0.00%          (balance risk in percentage for one stoploss)

RECOVERY SETTINGS

Recovery system ON:                 True/false

Recovery multiplier:                     00                  (na integer field with the multiplier of the recovery)

GENERAL SETTINGS

Spread Limiter:                              000            (expressed in points)

Range limiter:                                  0000          (expressed in points, if =0 there is no limit for the range)

Percentage of range:                    0.00%        (usable size of the range, determines the size of the fibo and tp and sl)

Trailing stop:                                     true/false

Size of trailing stop:                       000             (in points)

Traling step:                                      000             (in points)

Increase target:                             0.00%

Simultaneous trades:                   00               (if 1 EA opens only one operation each time and so on – this is because the indicator can paint many boxes while an operation is open and this can overcharge the margin, mainly if there is a recovery in execution)

 IMAGE PROVIDED IN A SEPARATE FILE

This is an image showing how the EA must work. The fibonaccis are determined by the max and min of the “box in use” and the ordes are placed as soon as the box finishes. Please note that another box was printed in the chart while the pending orders are open(secondary box). This box must not open new pending orders if the field “simultaneous trades” is set to 1 (one), otherwise the EA opens as many operations as the number in the refereed field permit.

In the example case, the price goes straight to the upside and triggers the buy stop and the take profit in following. The thick yellow line shows what would happen if the price wouldn’t went in that Direction (the price triggered the buy stop, came back and triggered a recovery sell stop (multiplied) and triggered too a stop loss in the same place), after this, the price reach the TP of the recovery order finishing the whole operation.

Just in case the recovery order did not suceed to reach TP, the EA places another recovery order in the same place of the original buy stop(161,2%) with TP in the same place of the original TP (261,2%) but this time the lot size is the lot of the first recovery order * 2 and this goes on until the price reachs any TP.

The EA does not need to show any lines or fibos in the chart, only his name.

The coder must provide the original code (in mql4 or TXT) at end of the development (with all bugs solved) within the executable file.