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.
  • 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 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.)
• 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 : 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.

[spoiler title=”Read More…”]

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

• 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.

•     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 :

• Loss Recovery 1 With Smart and Special Hedging Strategy. MT4 Version | MT5 Version
• Loss Recovery 2 Using Zone Recovery Strategy. MT4 Version | MT5 Version
• Loss Recovery 3 Using Averaging Strategy with Various Risk Control Features. MT4 Version | MT5 Version
• Compare Specifications of All Versions. Click Here.

[/spoiler]