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Coral Rescue

Coral Rescue will help save an account with trades in drawdown.  Do you have losing trades that are just too large to deal with?  They reduce your available margin and can be accumulating swap costs, but the loss would be too great to just accept closing the trades.  Just hoping that price will eventually come back is not an effective strategy, you need a disciplined, consistent and preferably automatic way to dig yourself out of the hole.

Coral Rescue is not an EA that places trades on its own.  You will use either manual trading, or another EA that is putting profit into your account.  You set the minimum balance that you don't want Coral Rescue to go below.  Coral Rescue will monitor your account balance and when you have sufficient profit to perform drawdown control (reducing the size of your drawdown by closing partial lots of trades), it goes to work.  When in "Manual" mode it will not take any action automatically, but will show you where you have enough profit to close the smallest size of your problem trades, and you can then click the button to perform the partial close easily.  Or you can configure Coral Rescue to automatically reduce the minimum lot size from the largest, smallest or farthest trade in drawdown.

You can identify the trades that you want Coral Rescue to work on (by ticket number or magic number); or you can specify the magic number of trades to exclude (for example, if you're using an EA to generate the profits used by Coral Rescue, and you don't want Coral Rescue to interfere with those trades).  Coral Rescue will show you the trade that is the farthest distance in drawdown; or the trades with the largest or smallest drawdown for the minimum lot size.  When you have enough balance to close the minimum lot size from any of these trades the "Partial Close" button becomes available to do drawdown control.  Or in automatic mode Coral Rescue will immediately apply your available balance to performing drawdown control.  Leave Coral Rescue running while your other EA is banking profits, and your surplus balance will always be working to dig you out of the hole you're in!

Coral Rescue also supports notifications.  Be alerted when your account balance reaches the minimum balance and the value per minimum lots of trades, indicating that you now have sufficient profits available to perform some drawdown control.  That's more useful in manual mode.  In automated mode you can be notified when Rescue reduces your account drawdown.  

Rescue your account today!

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Version 1.4 2023.10.18
[IMPROVEMENT] - Optionally set an "increment" percent, and Coral Rescue will wait until the available balance is at least as large as this increment before operating. When it does perform a partial close it will reduce the largest number of minimum lots as it can in a single operation (but never more than the available balance), guaranteeing that the available balance will apply entirely to the selected trade.
Version 1.3 2023.09.14
- [CHANGE] - Made the logic more robust for working with order numbers to Rescue.

When you do a partial close in MT4 it closes the original order and creates a new order with a new ticket number, but with the original open price, open time, etc. This meant that this new order was not included in the list of orders that Rescue was considering for DDC. Now, when performing a partial close Coral Rescue will find the new ticket number and add it to the list. This logic also applies on startup, and it applies recursively until it finds the current ticket number for the open order that originated from the ticket number you provided in the inputs. There would no longer be any need to keep updating your settings to add new ticket numbers as Rescue performs partial closes over time.
Version 1.2 2023.09.11
- [IMPROVEMENT] - Added the ability to identify target trades to Rescue by ticket number
- [IMPROVEMENT] - When in Manual Only mode, the Report on Rescue alert will let you know when you have enough available balance to close a partial trade
- [IMPROVEMENT] - When triggered Rescue will close as many minimum lots as it has available balance for, and then send one combined alert for all partial closes (rather than a separate alert for each partial close)
Version 1.1 2023.09.08
- [CHANGE] - Update on new bar rather than on every tick

Previously Coral Rescue would be checking on every tick to see if it needed to "wake up" and do something. It occurred to me that, if you have an EA that is closing multiple trades at once and the *first* one it closes is in profit but the last ones to close are in loss for some smaller amount of net profit, that it would be possible for Rescue to leap into action after the first trade closed and spend more of the (temporarily inflated) available balance than it should. So now, instead, Rescue will only look to apply the automated drawdown control on a new candle, rather than every tick. Set the chart timeframe to how often you would like it to consider applying the automatic DDC logic.