AW Recovery EA manual

06/22/2021

AW Recovery EA - designed to restore losing positions on your current symbol.

AW Recovery is not a multicurrency Expert Advisor. To work with different tools, run AW Recovery in different windows on each of the required tools.

AW Recovery works on any instrument (currencies, indices, oil, metals, stocks).

How the advisor works

First of all, the advisor looks for profitable trades and, at their expense, reduces a part of unprofitable orders.

The AW Recovery EA then locks in the position to prevent the loss from growing. This action takes place using locking . That is, if the position remains unprofitable, the EA will open additional orders so that the number of lots per buy is equal to the number of lots per sell. In this situation, wherever the market trend goes, the size of the loss will not increase.

After the position is fixed, the EA virtually splits the losing position into separate small parts. Each small part is closed separately, this is called a partial closure, with such a closure, the deposit is less loaded and the recovery process becomes the safest.

Opening orders:

The EA opens the first averaging order (size of the first order, step between orders, multiplier, etc. these parameters are configured in the input settings of the EA). Averaging orders can generate a temporary additional loss, since the EA uses a grid strategy when opening averaging orders. The EA will open a new averaging order if the previous one is at a loss.

 

  • If the type of orders is not selected in the input settings, then the EA will itself determine which type of averaging orders to use.

 

Closing orders:

Averaging orders are opened with a small volume, after the profit on these orders exceeds the closing part, then the closing will take place.

A losing position is closed in parts. In this case, the advisor perceives a losing position as a single structure. The profit from averaging orders covers a part of the losing position.

Configuration recommendations

There is no universal setting because all users have different situations. Settings for one user can be very different for another. In each case, individual settings are needed.

In the EA, no more than one order is opened for one candle. This allows you to weed out strong market fluctuations. In order not to stretch the recovery too much, I recommend using the M15 timeframe.

You can check your situation in the strategy tester with the visualization mode enabled. How do I calculate the settings?

Closing part: To work at an average risk level, it is necessary to divide the distant unprofitable order (this is the order, the distance from which to the current price is the greatest) into about 6-

8 parts. That is, if the distant order has a volume of one lot, then the part to close can be from

0.16 lots to 0.12 lots.

Averaging orders: The size of the first averaging order must be no less than the closing part. The usual recommended ratio is 1: 1.5. This parameter can be changed based on volumes, distance and volatility.

Step between averaging orders: Depends on the average daily market volatility on the current instrument. To trade with high risk, we take a small step between orders, and then many orders will be opened. We divide the average daily volatility by 4. For low risks, we divide this indicator by 2.

Drawdown testing

Always test any settings before launching on a live account.

Tester: To test, run the Expert Advisor in the Strategy Tester in the "Visualization" mode. Volumes: Select the amount of the deposit similar to your real deposit.

Drawdown launch: In the input settings, you must select the launch on a drawdown in money and specify the size of the drawdown, upon reaching which the advisor will start recovering.

·         It is better to use the volume of the drawdown for testing, or equal or slightly larger than your real drawdown

How to get the required drawdown level for testing:

Start testing in the strategy tester. After that, click on pause on the advisor panel (the

" Stop Recovery "). Then, using the panel below, open orders with a volume equal to your actual situation (in lots). Disable pause on the main panel. AW Recovery will start recovery after the drawdown size specified in the input settings is reached.

This way you can test a specific situation and check your settings.

Preparation before launching the advisor.

Manual closing: You can manually close all profitable trades, and with the help of this profit, close some of the unprofitable trades. This will help speed up the recovery process and thereby reduce the amount of swaps charged.

Replenishment of the deposit: If during testing the advisor cannot close your drawdown, then most likely you need to replenish the deposit. Test the situation with the increased deposit.

Using "AW Recovery” with other advisors.

AW Recovery can be configured so that when a drawdown is reached, it turns off another robot and starts working on its own. In this case, AW Recovery will disable another Expert Advisor, exit the standby mode and start recovery after the drawdown size specified in the input settings is reached. (Drawdown is not on the account, but only on the current symbol).

AW Recovery technically cannot recognize which Expert Advisor it is closing, so after the recovery is complete, you need to launch other Expert Advisors manually.

Like AW Recovery disables other advisors: it is better to disable other advisors while working AW Recovery.

AW Recovery starts by disabling other windows. If this function is enabled, then

AW Recovery will start performing trading operations only after the stage of closing other windows has passed. If you enabled an advisor without this function active, and in the process of working you reconfigured and enable this function, then closing other advisors may not work.

To do this, in the "Disable another EAs at launch" variable, you can select three options:

  • Do not disable other advisors - Do not disable other advisors.
  •     Disable advisors on same Symbol - AW Recovery will disable all advisors on the current symbol, you will be able to continue working with other advisors on other symbols.
  •     Disable advisors on all Symbols - When this variable is selected AW Recovery will disable all Expert Advisors on all symbols, but will only work on the current symbol.
  • If you need to recover your losing position

How AW Recovery can be used together with another Expert Advisor: for this, it is necessary in the input settings AW Recovery disable locking, as well as disable the ability to disable other advisors.

Why you can't use AW Recovery together with another EA: I do not recommend using

AW Recovery simultaneously with other Expert Advisors on the same instrument. As a rule, such work leads to conflicts. If locking is enabled, then use AW Recovery with other advisors is impossible.

Like AW Recovery recognizes his own and others' orders.

Orders opened by Expert Advisors must have a unique magic number. You can change this number in the input settings of the advisor. Orders opened by an advisor are perceived by their own, others perceive all other orders. To close unprofitable orders, the EA uses the profit only from its own orders.

If in the process of work you change the magic number in the input settings of the advisor, then the orders opened before will become foreign to the advisor, and the program will lock them.

This can be useful if you made a mistake with the EA settings and increased the drawdown volume, then you can change the magic number and the position will be locked.

The EA processes all orders (opened manually and orders opened with the help of other Expert Advisors) on the current symbol.

When AW Recovery is already running, it analyzes the already existing situation. Therefore, if AW Recovery is launched, it is better to let it work on its own, rather than open new manual orders.

How to run multiple AW Recovery on one account.

The Expert Advisor can be launched only once on one currency pair.

If you need to recover a loss on different instruments, then run AW Recovery on each instrument separately.

Attention. If you run AW Recovery on different currency pairs at the same time, then keep an eye on the availability of free funds in your account, so that you have enough deposit for recovery for all instruments at once. If there are not enough funds, then it is better to reduce the drawdown on the instruments one by one.

Recognition of other orders and other advisors.

All orders opened on one currency pair will be restored by the advisor, regardless of whether they were opened manually or using some programs. It does not matter if the orders were opened on your computer on a VPS or from a mobile phone, AW Recovery recognizes all orders within one account.

When the process of restoring your losing position is already underway, then I do not recommend interfering in this process and opening new deals. This is due to the fact that AW Recovery takes the entire loss as a whole, and opening new orders will lead to an imbalance in the calculations and violate locking.

If you enable the function to close other Expert Advisors, then AW Recovery will close only those windows and Expert Advisors that are running in the same terminal. That is, if you have

an Expert Advisor on your VPS , and you run AW Recovery on your computer, the other Expert Advisor will not be closed, since it is open elsewhere.

If the drawdown is very large.

To restore unprofitable positions, the EA needs free funds to open averaging orders.

You can close all profitable orders, and close some of the unprofitable orders based on their profit. This will speed up the recovery process.

If you made a mistake with the advisor's settings and increased the drawdown volume, then you can change the magic number and the position will be locked (since previously opened orders with a different magic number will be perceived as someone else's). Then you can start the recovery process over. In this case, I recommend making a deposit and testing the settings again.

Launch and transfer to VPS

Care must be taken to ensure that AW Recovery is only running from one location at a time.

When to run the advisor:

·                   If the account has free funds that can be used for averaging orders

·                   If the drawdown volume can be split into several parts

·                   If you have a large number of bi-directional orders

When you shouldn't run the EA:

·             If your drawdown is less than 1% of your deposit.

AW Recovery is designed specifically for closing losses, you should not run it if you do not need to recover anything.

When to disable the advisor:



You can turn off the EA when your drawdown is restored or reduced.

After completing the work, AW Recovery, you can manually enable your

advisors. Attention. When closing other Expert Advisors “ AW Recovery ”does not recognize which Expert Advisors have been closed (this is technically impossible to do).

According to the FIFO work:

Sorry AW Recovery is not suitable for users who use FIFO rules for their work.

 

Trade in one direction:

Regulation opening orders in the directions can be variably the Allowed types of

average orders. If there is a protracted trend on your current instrument, you can choose to open orders in only one direction.

For which instruments and timeframes to use:

Swaps and broker AW Recovery is suitable for working on any (currencies, indices, oil, metals, stocks) and on any timeframes.

This Expert Advisor is not multicurrency, therefore, to work on several instruments, you need to launch AW Recovery on each instrument separately.

However, it should be borne in mind that the Expert Advisor opens no more than one order per candlestick. Thus, in order not to greatly delay the recovery process, I recommend using a timeframe no larger than M15.

Swaps and broker commissions:

Each order has a property - the volume of accrued swaps. The advisor takes into account the amounts that come from your broker. And when closing volumes, the EA takes swaps into account. Swap is information coming from a broker.

The profit that the advisor considers is (Profit + swap orders + order commission)

If you write 0 in TP, the EA will close the order when the profit compensates for the negative swap. That is, when the profit + swap is 0.

Additional advisor panel

You cannot add two advisors to one window at the same time. The additional panel is perceived by the terminal as a separate advisor. Therefore, to launch a panel, you need to open another window on the same symbol and open an additional panel in it.

An additional panel is immediately displayed in the strategy tester in the same window. Using the bottom panel in the tester, you can reveal the volume of your drawdown required for testing.

How you can help the advisor

To help the work of AW Recovery, you can open additional averaging orders manually (using the additional panel). Magic number of the additional panel must match the magic number of the advisor.

To do this, you need to enable trading in the terminal settings.

Trend filtering

Trend filtering - This variable controls the advisor's trend filters.

For example, you set a step between averaging orders of 100 pips, while enabling the trend filter. After 100 points have passed, the EA will first check if there is a signal from the indicator to open the next order. If there is no signal, then the distance between orders will be increased, and the EA will not open a new order until there is a corresponding signal.

The trend filter is already built into the Expert Advisor, but it is not displayed graphically in order not to consume additional resources. Turning on a trend filter helps reduce risks. The Trend Filter works on the current Timeframe.

TP zone

The TP mark gives an approximate value. This mark indicates the approximate value from which level the opportunity for closing starts.

To calculate TP in this Expert Advisor, a complex technique is used that is technically impossible to represent graphically in the form of a price. It is graphically impossible to create a calculation that would display correctly and include all commissions

Attention. The TP zone mark is a calculation that is made without taking into account commissions and without taking into account the current market volatility.

In order to provide users with at least some information about the TP mark, we had to make this mark not specific, but in the form of a zone. That is why the mark is called the TP zone, and not the TP price.

Locking

Enabling this variable helps to keep your losing position in lock and does not allow the loss to grow.

Order volume, step between orders, trend filter and all other variables related to orders do not apply to locking. Locking works before recovery starts.

Attention. A locking order can sometimes have a large volume - this is normal, this happens if you have a large difference between the volumes of buy and sell orders.

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