MSR LR is an expert advisor that uses a price-action strategy, with some filters, to open forex positions. To close trades it uses its proprietary recovery system besides one TrailingStop and one Closing function. The peculiarity of the recovery system is that in the presence of a losing trade, it opens one or more trades to get the loss balanced or, better, in profit, for the value you set in ProfitToClose parameter, and then closes all trades. When the loss is over LossToRecover value, the trade is no more considered by the TrailingStop and by the Closing function.
The recovery system works in a way totally different respect to martingale or grid system. The robot follows the market and opens first of all a market order opposite to the losing order with a calculated lots quantity. Then, related to market conditions, opens Pending Orders with a calculated distance from the current price with the same or opposite sign. Following the market it decides to delete Pending Orders if not appropriate to market conditions and then it starts again to open Pending Orders if specified conditions are met. Anyway it cannot predict market direction.
To trade with this robot, open one chart at 1 minute for EURUSD and attach the robot to the chart. If you open two charts, one for EURUSD at 1 minute and one for EURUSD at 5 minutes you do not need to modify the MagicNumber as robot manages it automatically assigning a number for each parity + the number of TF minutes.
The robot automatically detects pair suffixes.
Choose a high leverage account and start with the deposit you want. Take in mind to respect the following minimum ratio between initial deposit and lots amount to open trades: 500 USD --> 0.01 lots. So if you have an initial deposit of 5000 USD set Lots to a max value of 0.10.
Use default settings if you are not sure about what you are doing. To test robot with Strategy Tester, I suggest you to download tick-data from a reliable source using TickStory Lite that give you a modeling quality of 99.90%.
The time to carry out the recovery of the loss, in profit, may vary from 1 day to several days/weeks. So be patient!
One time you have been confident and you have tested the robot, you can modify default settings smoothly.
This robot is a risky tool that may give good satisfaction if used correctly.
- you can increase ProfitToClose from 0 but be informed that higher is this value, higher are the possibilities to get a bad return from the recovery system.
- do not modify MinREM. If you do it test it before using on real accounts.
Time to time check the MT4 journal to verify if the execution duration of your orders and the slippage you got, are acceptable.
Default Settings and parameters descriptions:
- TakeProfit 48, this value is used to close trade in profit by the Closing function;
- Lots 0.10, use this amount of lots with a minimum deposit of 3000 USD or equivalent;
- MaxSlippage 15, maximum value of slippage in points;
- MaxSpread XX, if possible choose brokers with low spreads plus commissions;
- MaxLoss 75, amount of loss to start opening of Pending Orders;
- xFactor 4.0, multiplier used to calculate lots of Recovery order & Pending Orders;
- yFactor 15.0, multiplier used to calculate lots of Pending Orders;
- LossToRecover 25, amount of loss to trigger recovery function;
- PriceDistance 350, distance in points from current price to open pending orders ( stop orders);
- PD_Multiplier1 2, multiplier of price distance for first Pending Orders;
- PD_Multiplier2 3, multiplier of price distance for second Pending Orders;
- ProfitToClose 60, amount over which all trades evolved in recovery management, are closed. You can increase or decrease to 0;
- MaxEquityLevel 0, multiplier to get robot stopped if equity is over the initial deposit per the multiplier. i.e initial deposit 1000, multiplier 1.3 EA is stooped when equity is over 1300;
- EnableMoveTrStp false, trailing stop function with preset trailing values;
- MinREM 82, value of the ratio between account equity and account margin. If this level is reached, EA is stopped for lack of money.
- HistoryHours 24, amount of hours to see realized results on chart;
- Trading Hours false, to limit trading activity during a day.
- Trading Days true/false, to limit weekly activity;
If you want to see how this version works "live" on demo accounts, please use these links:
After having bought the robot, you can ask me to send the User's Manual.