Double Trader Dashboard for Loss Recovery Trader
It uses the same features of the Double Trader EA, with the Dashboard Mode giving the opportunities to
- Open trades in several different pairs from the same chart
- Apply risk management properties on the whole account to prevent opening new trades when certain levels are breached
For each pair selected to be traded it will open simultaneously a sell trade and a buy trade on the selected instrument when no trades are active and keeps repeating this process.
By opening trades in both directions, you would always have one of the two directions reaching Take Profit, securing a good profit, while the other direction would be entering the recovery mode.
Once the trade that entered in recovery mode, completes the recovery, Double Trader re-opens the trades for the process to begin again.
- Disable Auto Trading
- Place the Double Trader Dashboard Mode on a chart
- If you want to trade multiple pairs set Dashboard Mode to True, otherwise set it to False
- Set the Lot sizes/comments to be used by each trade
- Make a note of the MagicBuy and MagicSell numbers. These are the magic numbers
- Adjust Dashboard Settings if Dashboard Mode is true
- Enter the pairs to be traded and the number of pairs to be used
- Adjust the Risk Management Settings
- For each instrument you have selected to be traded open two additional charts of the same instrument.
- On the 1st additional chart, put the Loss Recovery Trader, select First Trade Mode: External_EA_Trade and set the Magic to be same as MagicBuy
- On the 2nd additional chart, put the Loss Recovery Trader, select First Trade Mode: External_EA_Trade and set the Magic to be same as MagicSell
- Enable Auto Trading
The Double Trader EA will open a buy and sell trades while each of the Loss Recovery EAs will take over the trades. Double Trader will open new trades when no trade is active on the selected instrument with either of these two magic numbers.
- Dashboard_Mode (true/false): This option is where is determined if the EA will be used on only an instrument individually (‘false’) or in several (‘true’)
- Lot: Lot size fixed amount
- Auto Lot: Start Lot is calculated as % from balance
- Lot_Percents: When Auto Lot is true
- MagicBuy: Magic number used for the Buy Trade
- MagicSell: Magic number used for the Sell Trade
- Comment_Buy: Comment used for the Buy Trade
- Comment_Sell: Comment used for the Sell Trade
- Active_Both_Trades: If true, buy and sell trades are always active when recovery has not started
- Use_Spread_Filter: Avoid taking trades when spread is too high
- Max_Spread: Max acceptable spread
- Use Time Zone 1: Enable First Time Zone Restriction
- Time Zone 1 Start: First Time Zone Start Time
- Time Zone 1 End: First Time Zone End Time
- Use Time Zone 2: Enables Second Time Zone Restriction
- Time Zone 2 Start: Second Time Zone Start Time
- Time Zone 2 End: Second Time Zone End Time
- Show_Comments: Show some comments on a chart
- Text_Color: Text color
- Limits: These options determine some boundaries that once reached no new trades will be initiated by the Trend Extreme Expert Advisor.
- Max Cycles: Maximum different symbols to have active trades.
- Max Trades For Single Cycle: The max number of active trades in a single symbol.
- Max Lot For Single Cycle: The max number of net lots active in a single symbol.
- Max Margin: Maximum Account Used Margin.
- Max Floating Loss: Biggest negative floating loss (enter value in negative).
- Min Margin Level: Minimum Margin Level account can reach.
- Currency Settings: In these options you set information about the symbols that are to be traded.
- Currencies_Used: How many of the currencies to be used. The EA will select this number of currencies based on the order they were written.
- Currency#: The user can input up to 25 currencies to be potentially traded. Ensure that each of those appear in the Market Watch.
- Symbol_prefix: If your broker has a prefix in front of the name of ALL THE INPUT Currency# eg. ECN-EURUSD, you can write this prefix (ECN-) here to inform the EA to seek for that instrument instead.
- Symbol_suffix: If your broker has a suffix after the name of ALL THE INPUT Currency# eg. EURUSD.micro, you can write this suffix here (.micro) to inform the EA to seek for that instrument instead.
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