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Loss Recovery 3 MT4

3.5

Loss Recovery 3 is an Expert Advisor for recovering losses of positions that were opened in the wrong direction (that were opened by another EA or manually). This EA recovers your loss and closes your position on Break Even or with determined profit.


Trading Strategy:

Loss Recover3 EA try to Recover Wrong Positions, by using Averaging method. There are various features on the EA to control risk of the strategy.


Using EA :

The EA is very simple and without complicated input parameters. There are main parameters must be set:

  • EA Action:
    • Single Position With Specified Ticket (Order ID) : EA recover only in-loss position with ticket specified in "In-Loss Position Ticket" field.
    • Multiple Positions With Defined Tickets (Order ID) : EA recover multiple in-loss position with ticket specified in "In-Loss Positions Tickets" field.
    • All Positions On Account : EA recovers all positions with loss greater than "Distance to Start" field.
    • All Positions On Current Chart : EA recovers all positions with symbols equal to attached chart and loss greater than " Distance to Start" field.
    • All Positions With Magic Number : EA recovers all positions with defined magic and loss greater than " Distance to Start" field.
  • In-Loss Position Ticket (Order ID) [If Action=Single] : Ticket of existing wrong position specified in "In-Loss Position Magic" field.
  • In-Loss Positions Tickets (Comma Separated) [If Action=Multiple] : List of desired tickets separated by comma.
  • In-Loss Position Magic : Magic Number of Positions you want to recover.
  • Consider Swaps Also : For profit calculation
  • Consider Commissions Also : For profit calculation
  • Show Panel : Option to Enable/Disable Live Reporting Panel on Chart.
  • Close Charts on Start of Recovery: Will close all other charts on recovery start to avoid placing/managing orders by other EAs.
  • When to Start Recovery? Three Options : Fixed Points or ATR Points (Start recovery when specified DD in Points occur) / % of Balance / Amount of Loss
  • Distance Mode : Options Available : Constant Points, Distance Based on ATR, Add On Each Step, Multiply On Each Step, Defined Sequences
  • Volume Mode : Options Available : Constant, Add, Multiply, Sequences
  • TP Mode : Options Available : Points, Account Currency, % of Balance
  • SL Mode : Options Available : Disable, Points, Account Currency, % of Balance
  • Maximum Number of Orders : Limit Number of Orders on Each Basket.
  • Maximum Volume of Each of Order : Limit Volume of Each Order When it is Multiplied or Added Frequently.
  • Maximum Volume of Sum of Orders : Limit Total Volume of Orders on Basket. If Reach, EA will not Open New Orders.
  • Minimum Time Distance Between Orders (Minutes) : To Avoid Frequent Orders Opening on Large Market Movements.
  • Time Filter : To define a Time Range for Trading.
  • RSI Filter : Filter Orders Opening Based on RSI Indicator.
  • Candle Trend Filter : Filter Orders Opening Based on Previous Candle Bearish/Bullish Trend and Minimum Size of Candle.
  • News Filter : Ability to Avoid Trading Before/After - Low/Medium/High Impact Events.


Testing EA


For testing the EA you must enter position information in the wrong direction. The EA open a position at time and volume and direction you entered and then starts managing order. Make sure that after the position opens, the market moves in the wrong direction.

  • EA Action: Set to "Testing Mode"
  • TESTER Wrong Position Time:
    • The time for inserting the wrong position in the format: hh:mm as example: 15:35
    • Position will be opened in market price at time you specified on start date of your testing period.
  • TESTER Wrong Position Direction: BUY or SELL
  • TESTER Wrong Position Volume: Volume of the wrong position (lots)
  • You can optimize EA by changing parameters


Recommendations and Using Conditions :

  • Any Time Frame can be used.
  • You can continue your trading on your account. The EA manages your wrong position and own-opened positions until recovering loss.
  • It is recommended to disable any trading operations by other EAs on recovery started positions.
  • To enable News Filter, Visit How to Setup News Filter.



Versions :



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Bewertungen 2
aworex
1737
aworex 2022.06.29 05:52 
 

I use this EA for trades in solid trends in higher timeframes, as it can handle all orders with a display of what's going on on your account. A well-written EA with various options.

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Auswahl:
aworex
1737
aworex 2022.06.29 05:52 
 

I use this EA for trades in solid trends in higher timeframes, as it can handle all orders with a display of what's going on on your account. A well-written EA with various options.

Stephen Sartain
252
Stephen Sartain 2022.05.09 04:54 
 

I tried to use it but found it very confusing, not enough setup ( hardly any) information, or even whether one could simply add it to a graph and leave it get on with it .. The majority of traders would like to do just that, it anything a speed 1-10 selection, a comments section for add to trades, things like that, but this is a lot of variables, half of which I have no opinion on, do I want ATR to choose, what is 2000 to wait for, etc, its totally not able to be trusted by me and I would rather close the trades then faf around, with a risk of everything getting worse - NOT because the bot is no good - but I don't understand all the blooming settings, half of which should be internal settings and not seen by anyone other than the programmer, as only the programmer would really need to fiddle with those. Hide about 80% of your DO NOT CHANGE options and provide a lot more information of what it all means please .. Sorry to complain, but I cannot risk an account with $1000s in it for a few $100 I may have lost, unless I can simply plop that thing down on a graph and have it do its thing. Kind Regards, Steve.

Kyra Nickaline Watson-gordon
48477
Antwort vom Entwickler Kyra Nickaline Watson-gordon 2022.05.09 07:14
The EA is designed user friendly, Easy-to-Use features and all techniques are known for all traders.
You must customize the settings based on your strategy and your knowledge. This is a robot and not a Magic. Robots will work based on your commands (your settings).
I am the developer of this product and my responsibility is to support all clients. If you have a doubt, you can ask me to help you.
Antwort auf eine Rezension
Version 2.0 2024.05.28
Added new selection mode : "Multiple Positions With Defined Tickets"
News resource changed to ForexFactory
Version 1.6 2023.02.14
Added option Enable/Disable FIFO closing rules
Faster Closing of orders.
Version 1.5 2022.04.22
Added options for notifications and popup alerts
Added more options to close chart feature
Version 1.4 2022.02.19
- Added Start Recovery option based on Loss Amount
- Update due to change of news address from http to https
Change the address of webrequest on terminal settings to https://ec.forexprostools.com/
Version 1.3 2021.11.03
Added Max Spread Control.
Version 1.2 2021.09.18
Added
- commissions and swaps for profit calculation (optional).
- Colored arrows shows on real trading chart to demonstrate entry and exit points
Version 1.1 2021.03.27
- Added Distance Based on ATR.
- Added Close Charts Option on Recovery Start.