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AW RECOVERY EA MT4 – Full Input Settings Analysis
AW Recovery EA is a forex robot or an Expert Advisor, which is employed for helping the traders recover their losses and restrict drawdowns from the account. It freezes lots to prevent losses and, if necessary, opens additional orders to balance the quantity of buy and sell lots. This EA is compatible with the universal MetaTrader 4 platform and can close losing trades by cutting them into separate parts and closing them independently. It also has such capabilities as easy installation, delayed activation on drawdown, locking, disabling other Expert Advisors, filtering averaging by trend, and partial close.
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GENERAL CONFIGURATION – TRADING RECOVERY
- Which orders to recover: Recover easiest to close orders
The EA recovers the orders closest to the current price first. - Magic Numbers group for recovery: All orders on same Symbol
The EA will recover all the trades in the same currency pair. - MagicNumbers for recovery: 12345, 54321, 0
Recovery will only be executed for these Magic Numbers orders. - First ticket for recovery: 0
No special order ID is set, i.e., recovery is for all eligible orders. - Use locking: Off
Hedging (locking deals in opposite directions) is not employed. - Delete SL and TP: On
The EA will delete initial Stop Loss and Take Profit to prevent early closures.
SETTINGS ACTIVATE RECOVERY
- Type of Launch: Instant start
Recovery begins as soon as it is launched. - Drawdown in % or $: 35.0
Recovery will be triggered when the drawdown is 35%. - Close profit at Launch: On
Profitable trades will be closed before initiating the recovery process. - Delete Pending Orders at Launch: On
Pending orders will be deleted when recovery is launched.
TAKE PROFIT and RECOVERY PART SETTINGS
- Part to close in loss position: 0.03
The EA closes partially 3% of a losing trade at a time. - TakeProfit in points: 30
The take profit of the recovery trade is set to 3 pips (30 points). - Allow overlap of orders: 2
A maximum of 2 recovery trades can be executed at a time. - TP for total basket in money: 25.0
The recovery process is stopped when the total profit reaches $25.
MEDIUM SINGLE AND RECOVERY NET
- Average order trend filtering: Simple Grids
No trend filtering; employs simple grid strategy. - Allow directions of average orders: Buy and Sell
Averages for Buy and Sell directions. - Volume of 1st average order: 0.06
First averaging order volume will be 0.06. - Multiplier to volume: 1.3
On every order, the volume is multiplied by a factor of 1.3. - Step for average: 200
There is a 20-pips (200-point) gap between averaging orders. - Multiplier to step: 1.0
For each new order, the step size remains constant.
PROTECTION SETTINGS
- One recovery order for each bar filtering: On
Only one averaging recovery order per candle/bar. - Max average order volume: 1.0
The maximum lot size of any averaging order is 1.0. - Max average orders number: 100
Up to 100 averaging orders are permitted. - Use full commission calculating: False
Full commission fees are not taken into account when calculating. - Notifications at end of work: Off
No notification will be received when the EA completes its process.
Key Takeaways
- Retrieving Losing Positions: The AW Recovery EA freezes losing positions and divides them into smaller segments, closing every segment separately in order to manage losses more safely.
- Risk Management: This EA has attributes to keep loss minimal and gain maximum. It can be used in combination with other advisors and switch them off when necessary in order to effectively manage risk.
- Partial Closure: Unlike grid strategies that close orders in groups, AW Recovery EA closes losses gradually. This approach reduces the losses with a low deposit load.
- Flexible Settings: The robot offers flexible but simple settings, including trend filtering and overlapping, to provide maximum effective risk management.