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.

The Risk can be defined by user for trades in normal mode in a % of the balance in the moment of the opening. The EA will calculate the precise lots, so that the points up to the SL result in the% risk assigned.

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 with the same SL and TP and the risk is the amount of losses, if the risk is 1% it has 3 consecutive loses of -0,2%(x2) + - 0,25%(x2) + -0,5%(x2)= -0,4% -0,5% - 1% = -1,9% open 1 order with 1,9% risk and reward, and if parameter is set to yes, 1 scout order with the defined Risk. The recovery mod reset and turns into normal when the losses are recovered.

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 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

Trading Signals:

• 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.

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 1,1 and the price goes to 1,090 the sl goes to BE

Positions are opened: at the market price, when a new bar open. In the previous signal.

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 and risk of Recovery Mod

• Risk in recovery mod

• Total losses fo the current Recovery basket (only for that pair and recovery cicle)

Coment in order

• Main
• Scout
• Recovery and number or attempt
• Recovery Scout