As of MATLAB 6.5 (R13), the MATLAB Editor/Debugger contains an autosave feature that is on by default. Autosave periodically saves open files with unsaved edits to a backup file that ends with the suffix "asv" on Windows or "~" on non-Windows platforms. By default, an autosave file is located in the same directory as its related source file.
You can access the autosave features through the preferences dialog:
File-->Preferences-->Editor/Debugger-->Autosave
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