Advisor setting can be divided into several stages. In this article we will analyze each of them in detail.
Depending on the situation in which the adviser will be used, there are some differences in the settings, we will analyze the individual situations in order, we will break each of them into basic steps and consider each of them.
At the very end of the article you can find my basic configuration files, on the basis of which you can formulate your settings for a specific character in a specific situation.
Configure advisor with available drawdown. Nuances and customization.
When launching an advisor with an existing drawdown, you should pay attention to the following nuances before launching:
- AW Recovery System only works on the symbol to which it is attached.
- When you turn on the adviser with automatic locking, you must disable other algorithms that may create a conflict in the processing of orders, and you can not get into the work of the advisor from the outside, working with the processed orders is only possible with the help of advisor panels. The fact is that with automatic locking AW Recovery System will align the position in the lock in cases of its absence. That is, if you manually close part of the position - the adviser opens it again, and if you open additional orders - the adviser will block them (This is only relevant when the opened or closed orders can be processed by the AW Recovery System)
- If you use several advisors on one pair and only one of them is planned to be restored, then perhaps you should disable the function of closing other charts in order not to disable unnecessary algorithms.
Configure advisor with available drawdown. General description:
- Configure aggressiveness.
In order to configure the aggressiveness of the Expert Advisor, that is, the activity of opening new orders, you must configure the recovery zones, as well as filtering the opening of orders.
Let us analyze this setting in order:
- Setting up the recovery zones, that is, those price ranges in which the restoring orders of a certain type will be opened is as follows:
- It is necessary to determine how orders will be opened.
- After the opening order of the restoring orders has been chosen, the distance to the borders of the opening orders of the restoring orders should be selected.
- Step setting for restoring orders.
- Selecting the filtering mode and timeframe.
Having selected the type of recovery zones, their distance and step for the restoring orders, the final part of the aggressive setting of opening orders by the advisor should be carried out. First of all, you should select a trend filter, for this you should change the variable " Type of filtering for recovery orders" . When using trend filters, the adviser will filter the opening of orders using the trend direction shown by the selected indicator. Indicators can be configured in the input settings of the advisor. They work on the current timeframe, so the choice of timeframe is also important for the sensitivity of the indicator signals.
Also one of the important regulators of the aggressiveness of opening orders is the timeframe itself with the variable "Enable One_recovery_order_per_bar_filter"="true". This option sets a limit on the opening of restoring orders of one type, that is, no more than one open order for one candlestick.
- Volume adjustment.
Based on the calculated step, check whether one open order is enough to close a part when this order travels a certain distance? That is, we can determine how much volume will be enough to close the minimum amount of a loss-making order in the most difficult part of our recovery. Based on this information, it is necessary to calculate how much of the most complex order can be closed, that is, a part for closing is formed, with which we will work. In the event that there is a market reversal and the price goes the wrong way, you need to determine what risks you are willing to take by multiplying the volume of restoring orders. Check it out by adding in your mind a certain number of orders and calculate whether you are ready for the risks of working against the trend during a negative wave of large volume. If you are not ready, you should reduce the part for closing and the volume of the opened first order.
- Launch setting.
When you run the advisor there are a number of auxiliary functions, the setting of which is also important before switching on. These are the following functions:
- Close all pending orders visible to the advisor ( Delete pending orders at start ). - This function is relevant in cases where you do not plan to work with the chart, or these pending orders are generated by the same advisor that has collected a drawdown.
- Close other windows of the same symbol ( Close Other charts with same symbol at start ). - This function is relevant in cases when the Recovery System is running in sleep mode and backing up another advisor, that is, when you need to disable another algorithm if another algorithm has accumulated a drawdown. That is, this option is not suitable for all situations and you should not forget about it at startup.
- Automatic locking position ( Allow auto locking ). - This function aligns the position in the lock and accompanies this lock throughout the work of the adviser. That is, if you plan to continue working on the symbol (with orders that the Recovery System can see) during recovery or if you plan to manually get into RecoverySystem, then you should consider the relevance of enabling this function.
- Delete TP and SL levels ( Delete SL and TP ). - This function removes all levels from all orders processed by RecoverySystem. This is important in order for the recovery to be carried out according to the RecoverySystem algorithm and some of the orders are not closed at inappropriate moments.
- Close profit at start ( Close profit at start ). - This function closes all profitable orders and if it is possible using this profit to close a part of unprofitable orders, the adviser will close a part of the losses. The function works with whole orders and does not close them in parts. If you reboot the adviser, its use is unlikely to find its relevance.
- Use an ECN account ( TrueECN_Type_of_account ). - If you use an account in which the broker deducts a commission for each order at the time of its opening or closing, or your account type has the name containing ECN, then this function should be enabled. The fact is that in most cases, these accounts have a separate calculation type, that is, for correct calculation of trailing, this variable should be included when using trueECN accounts.