Price Action and Patterns

In this article we will create the zone recovery martingale forex trading strategy expert advisor (EA) in MetaQuotes Language 5 (MQL5) for MetaTrader 5 (MT5) step by step. The zone recovery martingale strategy is a common strategy that is oriented to counter loosing positions by opening opposite positions with a slightly greater trading volume that cancels the losing positions. It is basically a trend following strategy that does not care about the direction of the market, with the hope that at one point, the market will be trending either downwards or upwards and eventually particular targets will be hit.

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Even though trend movements only have two sides, uptrend and downtrend, sometimes there is a flat side where prices tend to stagnate as if there is almost no movement. Price action is usually combined with candle patterns to predict support and resistance based on price history.