Forex AW Recovery Expert Advisor review:
Forex AW Recovery Expert Advisor is designed to reduce drawdown on the account. The author’s algorithm locks the unprofitable position, splits it into many separate parts, and closes each of them separately.
It is the use of closing losses by parts to reduce losses with a smaller deposit load, which ensures a safer operation with losses, in contrast to the grid strategies of closing orders only in whole groups.
How is the restoration of orders
- The Expert Advisor closes the other windows of the selected tool in order to turn off the unprofitable Expert Advisors (optional).
- The Expert Advisor resets the TakeProfit and StopLoss levels for all processed orders and removes pending orders with the corresponding identifiers.
- The Expert Advisor closes all profitable orders processed in order to cover a part of unprofitable orders with the help of their profit and reduce the total position volume (optional).
- The Expert Advisor blocks a loss-making position by opening a locking order.
- Then, by opening the restoring orders, it proceeds to reduce the loss by partially closing unprofitable orders.
- In case of partial closure, the algorithm restores first of all orders that are least well arranged; each of the unprofitable orders is divided into many parts, each of which is closed separately by the adviser. Restoring orders are opened with a small volume in order not to significantly increase the load on the deposit.
When launching the strategy tester, the adviser opens one demo position, then for testing you need to use the buttons to open orders on the advisor panel.
- It is suitable for processing both a small number of orders and large grids of unprofitable orders.
- Flexible to set up and can be used to restore losses, and as a full-fledged trading panel.
- A large number of built-in security features.
- It can be used to recover losses from individual advisors, and automatically start a recovery when a certain loss is reached.
- Flexible processing of unprofitable orders and their partial closure
- The trailing stop handler can process both the whole group of restoring orders and the first and last restoring orders to close the parts of the loss.
- ORDERS TO RECOVERY SETTINGS – Settings section for the restored orders, as well as general functions in the advisor,
- PROTECTION SETTINGS – Section for setting protection functions,
- RECOVERY GRIDS AND RECOVERY ORDERS SETTINGS – Section for setting up restoring grids and restoring orders,
- TRAILING, TAKEPROFIT AND PARTIAL RECOVERY SETTINGS – Trailing and TakeProfit Settings,
- RECOVERY ZONES SETTINGS – Recovery zones settings section,
- INDICATORS – PARABOLIC SAR SETTINGS , INDICATORS – ALLIGATOR SETTINGS , INDICATORS – 2MA SETTINGS – sections for setting indicators that serve as additional trend filters when the appropriate value of the ” Type of filtering for recovery orders” variable is selected .
Copy and paste the file into the MQL4 Experts folder of the Metatrader 4 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL4 > Experts (paste here)