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Loss Recovery 2 MT4

3.83
Loss Recovery 2 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 without using dangerous martingale/Averaging methods.



Trading Strategy:


Loss Recover2 EA try to close wrong positions without any loss (Recover Wrong Positions), by using Zone Recovery method and without using martingale methods. Anytime price exits from zone, EA will close basket of trades without loss. The zone can be with fixed height or with increasing height. Also there are some options for volume increasing.


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.
  • When to Start Recovery? Three Options : Fixed Points or ATR Points (Start recovery when specified DD in Points occur) / % of Balance (Start recovery when DD of Position is Greater than specified percent of balance.) / Amount of Loss
  • Distance to Start (Zone Height) : Distance in Points to start managing and recovering loss.
  • Distance to Start (ATR Multiplier) :  Distance in Points calculated based on ATR
  • Loss to Start: Loss on position to start managing and recovering loss. 
  • Extend Zone Height: Fixed Points / ATR / No Extend
  • Distance To Add Each Step (Extending Zone Height) : Amount of Points You Want to Add to Zone Height on Each Step. Enter 0 for Fixed Zone Height.
  • ATR to Add Each Step : Zone Height will be added based on ATR
  • Volume Mode: Add or Multiply Options. Volume Settings on Each Step.
  • Volume to Add: Lots to Add on Each Step (If Volume Mode=Add)
  • Volume Multiplier: Multiplier to Last Volume (If Volume Mode=Multiply)
  • TP : Total Take Profit of Basket of Trades. Enter 0 if you want to only recover losses without profit (Break-Even) .
  • ATR Timeframe : ATR Timeframe for distance determination
  • ATR Period : Period of ATR
  • 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.

Testing EA :

For testing the EA you must enter position information in the wrong direction. The EA opens a position at time and volume and direction you entered and then starts managing drawdown. 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.



Versions :



We are ready to help you for using the EA, Please don't hesitate to contact us.
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Reviews 6
drasko
297
drasko 2021.04.21 19:08 
 

Excellent work Kyra :-) I'am in love with your LR2. Payback on first use. You will soon get more positive reviews.. the word is out now ;-)

By the way I not only recover I made profit :-D

robpinhood
217
robpinhood 2024.06.11 20:46 
 

LR2 is an essential EA for any serious trader. This is not a simple drag-n-drop utility. It takes time to learn. After using this EA for 6 months, I am still learning new strategies and nuance techniques. I use it on all my scalping accounts. LR2 has saved and earned greater than ten times its cost, and guards too many charts for me to count. Support has been outstanding. I have had many questions, and always get answers, even if I don't understand some of the details. Appreciate the updates as well. It just keeps getting better.

aworex
1807
aworex 2021.05.11 11:01 
 

This is a very good EA to have in place for the crazy forex markets where we have to prepare for the unexpected.The EA has various methods to reduce risk whilst recovering trades that have gone south it’s comes very handy with high vol instruments

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robpinhood
217
robpinhood 2024.06.11 20:46 
 

LR2 is an essential EA for any serious trader. This is not a simple drag-n-drop utility. It takes time to learn. After using this EA for 6 months, I am still learning new strategies and nuance techniques. I use it on all my scalping accounts. LR2 has saved and earned greater than ten times its cost, and guards too many charts for me to count. Support has been outstanding. I have had many questions, and always get answers, even if I don't understand some of the details. Appreciate the updates as well. It just keeps getting better.

yyc196 Yauw
820
yyc196 Yauw 2023.08.30 18:24 
 

Hi Seller, i have issue with your EA which keep producing multiple orders in a series. I will try a few more days to see what happened based on your screenshot. I will also change the review again. Thanks

Kyra Nickaline Watson-gordon
49899
Reply from developer Kyra Nickaline Watson-gordon 2023.09.01 22:48
Fake Review!
Are you Good? 3 star review for what?
You purchased the product some hours ago so how can you evaluate the product in such a fast time? Your post on comment page shows you did not used the EA yet.
Please be patient and rate the product based on real operation.
Regarding your issue : You are using wrong settings. Revise your settings. If you need more help, you can send your settings to help you to fix wrong items.
aworex
1807
aworex 2021.05.11 11:01 
 

This is a very good EA to have in place for the crazy forex markets where we have to prepare for the unexpected.The EA has various methods to reduce risk whilst recovering trades that have gone south it’s comes very handy with high vol instruments

Matthew Todorovski
12938
Matthew Todorovski 2021.04.30 08:45 
 

Quite useful, if you set it up right. I had it recover my USDMXN orders within 3 hours from $300 DD to $0. Working on SGDJPY currently, but market is not moving enough to have much effect. I opened a manual order and immediately LR2 locked with slight hedge in opposite direction. LR2 soon closed the order and hedge in profit.

Advantages:

. you can set to recover specific Magic, specific Ticket, or all orders on the account

. it is a simple-to-understand strategy of zone recovery

Areas for improvement - 4 Stars because:

. LR2 doesn't display the Zones on the chart for ease of adjusting Inputs

. LR2 also does not auto-calculate parameters such as optimum ATR, which gives risk to the user they may set it up incorrectly.

Hoping for future improvements to LR2 to make this 5 Stars!

Kyra Nickaline Watson-gordon
49899
Reply from developer Kyra Nickaline Watson-gordon 2021.04.30 08:54
Thank you for feedback.
- Visual display on chart will be added on next updates.
- Optimum inputs is various for each user based on user strategy and risk plan.
techiman ba
57
techiman ba 2021.04.22 19:27 
 

this is the most useless ea i have ever used. if you fall in a ranging environment the account will blow up. the programmer could have put all the 3 different recovery ea into one powerful ea but because of greed decided to sell this useless ea to the public. I have downloader free ea from mql5 which are 100times better than this expensive ea i have WASTED my $90 on. DO NOT WASTE YOUR MONEY ON THIS PRODUCT!!!!!!

Kyra Nickaline Watson-gordon
49899
Reply from developer Kyra Nickaline Watson-gordon 2021.04.22 21:08
Wrong using of EA. Wrong Setup. Seems the comparison page is not studied carefully by you.
https://www.mql5.com/en/blogs/post/742976
drasko
297
drasko 2021.04.21 19:08 
 

Excellent work Kyra :-) I'am in love with your LR2. Payback on first use. You will soon get more positive reviews.. the word is out now ;-)

By the way I not only recover I made profit :-D

Reply to review
Version 3.0 2024.05.27
Added new selection mode : "Multiple Positions With Defined Tickets"
Version 2.1 2023.02.13
Closing larger orders first.
Faster Closing of orders.
Version 2.0 2022.06.07
Added :
* Parameter to limit Maximum Volume of Each of Order
* Sequence options to determine volumes
* Visual display of opened recovery orders, next order, TP price on chart.
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
- Added more options to setup TP
Version 1.3 2021.10.29
Added Max Spread Control.
Version 1.2 2021.09.18
Added
- commissions and swaps for profit calculation (optional).
- Limit Max Number of orders to control the risk
- 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.