TSO Order Recovery MT5
TSO Order Recovery is an expert advisor that provides a known and tested method of covering losses from open positions through hedging.
- It uses all the tools of the TSO Signal Builder EA - almost infinite entry/exit strategies
- Add negative management to any strategy (manual or automated) to eliminate losing trades
- No pending orders are placed
- Any account size - a minimum of $1,000 is recommended
- Works on any currency pair
- Allows for a lot of customization (a default strategy is included for demonstration purposes)
The Order Recovery system detects a losing trade and opens an opposite position of larger lot size at a fixed distance from the original trade creating a zone within which the loss is confined. This creates two scenarios:
- If the price reaches the target, the second position will cover the losses of the initial trade or even profit. All positions are then closed with a net profit.
- If the price reaches the level of the initial trade an additional position is opened so that there are more lots in total in the original position’s direction, so that the new position together with the initial one will cover the losses of the opposite position and even profit if the price reaches the opposite target. All positions are then closed with a net profit.
This process continues and new positions are opened each time the price reverses direction and passes from the edges of the zone, until one of the targets is reached.
For Detailed explanations of all the features of the expert advisor check the Quick Start Guide.
If for any reason the EA is shut down unexpectedly it can be restarted as long as the Expert Properties have not been changed. Then it will continue normally, taking into account the previous orders it created. This feature has been added only to cover for unexpected circumstances. This expert advisor can result in open trades that can last from hours to weeks and it requires to be open throughout that period. It is possible to run from a PC if it can be constantly open and online but using a VPS is highly recommended.
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Inputs specific to the Order Recovery system
- ENABLE Order Recovery
- Order Recovery Zone Distance: Distance in pips between the initial and reverse order in pips. It applies for all subsequent orders.
- Order Recovery Target Distance: The target pips from the edge of the zone at which the net loss of all open positions is 0. A smaller distance implies a faster exit but is more aggressive as it requires a larger lot size and vice versa.
- ENABLE Custom Lots: If this option is disabled, the lot size of the orders opened from the Order Recovery system is based on the selected zone and target distances. If this option is enabled the lots will be determined through the equation 𝑋𝑛=𝑎∗𝑋𝑛−1𝑏+𝑐.
- 𝑎,b,c: Affect the lot size similar to the dynamic lot size for the initial orders. Used only if Custom Lots are enabled.
- ENABLE Safety: If the market does not make a relatively strong price movement, the order recovery mechanism could create multiple open positions, potentially leading to loss of the whole account balance available. This mechanism targets at reducing potential losses.
- Close All Positions: All open positions will be closed and the current order recovery cycle will end once a pre-set open loss has been reached.
- Reduce Positions: Once a pre-set open loss has been reached, the system will stop opening new positions at the zone edges but the last position will be closed once the opposite edge is reached.
- Percentage: Measure the open loss in the following input as a percentage of the current balance.
- Money: Measure the open loss in the following input as money.
- Account balance
- Current profit
- Current lots
- Max lots
- Max drawdown %
- Minor improvements in order execution.
- Minor bug fixes.