Manager Recovery EA a system for restoring drawdowns from other advisers or from manually opened orders. If another adviser generates a drawdown, Manager Recovery EA will disable it, lock the position and start the process of restoring the deposit using partial closures. In its trading, the adviser uses smart averaging, locking and partial closure.
Attention!!! Please read carefully the rules for installing the advisor, and install it correctly. Before publishing, we check everything and publish only those advisors that work on our accounts !!! At least at the time of this article’s publication. Also, please note that the name of the adviser has been changed, you can find the original name of the adviser in our telegram channel https://t.me/FX_VIP/2506
| Developer price | |
| Terminal | MT4 |
| Currency pair | Any |
| Timeframe | Any |
| Money management | At least 100 currency units |
| Recommended brokers | IC Markets |
| For advisor recommended to use VPS 24/5 | vps24hour – Excellent inexpensive VPS for $3 per month you can use up to 3 terminals!!! |
How to test an advisor
To test EA strategies, you should use the “Visualization” mode.
Select a symbol, testing model. Th advisor uses a trend indicator, so it is advisable to choose a timeframe from m15, otherwise there will be quite a lot of market noise that does not show the true market movement.
Set the deposit size on which you will conduct testing. In the Input parameters, set “Drawdown percent for start (0-not use)” and “Take Profit Points”. Drawdown_percent_for_start(0-not_use) – set the drawdown in percent of the deposit at which EA will start its work from the standby mode. We recommend setting the “Take Profit Points” value to at least two spread values in points to avoid slippage when closing positions.
This is the basic setting for testing the advisor. The rest of the parameters will be set automatically. If desired, all settings can be set manually according to the instructions below.
To start working with EA, open unprofitable positions using the advisor panel, Buy and Sell buttons.
How to set up automatic standby mode
The advisor allows you to work in the mode of accompanying other advisors! When a drawdown occurs from another advisor, EA will turn off the other advisor and take control. The advisor should not be multi-currency, it should work on the current symbol.
Input parameter settings for the tracking mode:
Disable_other_EAs = true the advisor gets the ability to close other advisors by closing their windows.
Drawdown_percent_for_start(0-not_use) – we set the drawdown as a percentage of the deposit at which EA will start its work from the standby mode. This is a drawdown only from those orders that the adviser will restore, that is, on a certain symbol and from certain advisers or manually opened orders.
Recover_all_MagicNumbers: true – restores drawdowns from all orders and advisors. false – restores only a specific magicNumber. In this case, the size of the drawdown from these specific orders is analyzed!
Magic_to_recover – you can select recovery from drawdowns of a specific adviser or manually opened orders. If you want to compensate for the loss of a specific adviser, then enter the value of the Magic number that the adviser that generated this loss uses. 0 – if you need to recover drawdowns from manually opened orders.
Lock_position=true to lock the drawdown in its current position
Take_profit – we recommend setting it at a rate of at least two spreads to avoid accidental slippage. The value is measured in points.
The rest of the settings can be left to the advisor to configure independently.
How EA will operate when starting work in maintenance mode:
When starting work, EA will close some of the profitable orders to reduce the volume of funds borrowed, delete all pending orders, all take_profit and stop_loss levels. The size of positions for sale and purchase will be equalized, i.e. unprofitable orders will be locked. And then, using averaging orders in parts, EA will close positions.
Other advisors will be closed by closing their windows.
Input settings
The advisor is able to automatically select most of the settings!
Variables that allow you to customize volumes:
Open_lots(0-use_auto) – the advisor opens averaging orders of this set volume in order to partially close unprofitable positions from these open orders. 0 – the advisor automatically adjusts the opening volumes.
Close_lots(0-use_auto) – the advisor performs partial closings with this set volume. 0 – the advisor automatically adjusts closing volumes.
Opening volumes must be at least 1.5-2 times greater than closing volumes to enable partial closing of a losing position.
In order for EA to set up the Open_lots and Close_lots variables on its own, you need to set a value in the Volums_Mode variable. It has three options for calculating volumes:
Auto_Small_Lots – automatic small volumes, low risk
Auto_Medium_Lots – automatic medium volumes, medium risk
Auto_High_Lots – automatic high volumes, high risk
Max_Lots-for_order(0-not_use) – allows you to set the limit for one averaging order. 0 – the limiter is not used.
Risk_K_adjustment – the variable additionally allows you to increase/decrease the volumes that the advisor uses automatically to a specified value.
In addition to the risk mode, the advisor takes into account the size of the current drawdown. For different drawdowns, EA will use different volumes.
Variables that allow you to customize the step:
Step_Mode – allows you to set the step mode depending on the volatility of the instrument.
With high volatility the step will be larger, in the absence of large movements the step will be small with automatic adjustment. The step changes automatically when the market situation changes if the value is 0.
Step(0-use_auto) – the step with which new averaging orders are opened. If EA opens orders and they go into loss, then new averaging orders are opened with the specified step, each of which is larger than the previous one by the volume of the multiplier Multiplier_to_volume(0-use_auto).
Step(0-use_auto) is specified in points.
Multiplier_to_volume(0-use_auto) – adjustment of how much each subsequent order in the grid will be larger than the previous one.
For example: when applying the value 1.5, if the first averaging order is opened with a volume of 0.2, then the next one will be opened with a volume of 0.3, and another one with a volume of 0.45, and so on. For the calculation, the calculation is applied to multiply the values below the minimum value.
When set to 0, it is calculated automatically depending on the step mode and risk.
Trend indicator parameters:
The second confirming candle of the trend is used as a signal to open a position.
SMHA_Trend_Period – sets the indicator period
SMHA_Trend_Method – sets the method by which the indicator is drawn.
Locking parameters:
When locking, an opposite position is opened, which equalizes the volume of purchases and sales. Then, in parts, using averaging orders, the unprofitable position is closed while maintaining the locked state.
Lock_position – enables or disables locking.
Locking must be disabled if the symbol is still being traded. Otherwise, RM Pro will open locking orders for all opening positions of other advisors.
Other settings:
RM_Pro_Trade_Direction – allowed directions for averaging orders. The variable applies only to averaging orders, and locking orders are opened regardless of it.
RM_Pro_Orders_MagicNumber – identifier of the advisor’s orders.
Order_Comment – this variable allows the terminal to determine that the order was opened by this advisor.
Font_size – changes the font size of the panel.
Panel functionality:
Current_Settings – information about the input settings of the advisor. If automatic settings are selected in the input parameters, all data will be displayed in this block.
These values of automatically generated settings can be tested in the strategy tester. And based on the tests, if necessary, make a decision on changing the step, trading coefficients.
Positions – this block contains information on Buy and Sell orders in locked positions.
RM_Pro_Orders – profit of those orders that the advisor opens to perform partial closings.
Drawdowm – the drawdown generated by the orders that the advisor interacts with.
Block of the panel for buying and selling. Orders opened through this panel will be related to the locked orders. They will be restored using partial closures. This block is necessary for testing the advisor in the strategy tester.
How to launch an advisor if there is already a drawdown on the deposit
Before running EA on your account, run a test in the strategy tester in the “visualization” mode.
Add the advisor to the chart, check that the input settings correspond to your risk. Read more about the settings in the instructions above. Set up the advisor after preliminary testing in the strategy tester.
When starting work, EA will close some of the profitable orders to reduce the volume of funds borrowed, delete all pending orders, all take_profit and stop_loss levels. The size of positions for sale and purchase will be equalized, i.e. unprofitable orders will be locked. And then, using averaging orders in parts, EA will restore the drawdown.
Other advisors will be closed by closing their windows.
Functionality tested, in build 1440 working.
Reminder: As with every trading system, always remember that forex trading can be risky. Don’t trade with money that you can not afford to lose. It is always best to test EA’s first on demo accounts, or live accounts running low lotsize. You can always increase risk later!
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