This Drawdown monitor allows you to sleep relaxed and avoid blowing up your accountDon't lose more money than you had planned !
This licensed version of Drawdown monitor EA can be used both on demo and live accounts without any limitation.
Before using Drawdown monitor EA on a live account, I advise you to configure and test all parameters and verify that its operation meets your needs.
If you need an unrestricted trial version to test on your demo account, you can find it at this link: https://www.mql5.com/en/market/product/170016?source=Site+Market+My+Products+Page
For any doubts, questions, or suggestions, do not hesitate to contact me
Drawdown monitor EA will constantly monitor every single open position and close it if the set safety limit is exceeded.
It is essential for all traders who use 'risky' EAs that may not have been thoroughly tested or which use dangerous martingale or grid strategies that could suddenly increase your drawdown, resulting in your account being blown out if you are not constantly present.
Or more simply, if you want an additional security when the risky EA is trading with real money and you are not sure that it uses truly reliable capital protection strategies.
The price of this Drawdown monitor EA is negligible compared to the loss you would suffer if your account were blown out.
Technical Description of Drawdown monitor EA
New powerful and useful monitoring functions have been added to this version of Drawdown monitor EA.
Above all, monitoring can be carried out for individual positions, which are closed individually when the set values are reached.
In addition, a total drawdown can be set which, if exceeded, closes all open positions.
An important option allows positions with a specific magic number to be excluded from the max. drawdown calculation. This allows general positions to be differentiated from those of a specific EA.
Drawdown monitoring is fast even if tick refreshing is slow, e.g., at certain times of the day or in situations of low market activity.
Drawdown monitor EA can be dragged either onto the chart you use for manual trading or onto a separate chart if another EA is already present (see screenshots).
The currency pair and chart timeframe are both irrelevant.
Using Drawdown monitor EA on Strategy Tester does not make sense.
List of parameters
| Parameter | Description |
|---|---|
| Drawdown monitor mode | Drawdown monitoring mode: percentage or absolute value: true = drawdown percentage related to current equity false = absolute value in currency |
| Max. drawdown in percentage single positions | Drawdown max. considered for single positions, as percentage of the account equity |
| Max. drawdown in currency single positions | Drawdown max. considered for single positions, as absolute value in current currency |
| Max. total drawdown in % | Total drawdown max. as percentage of the account equity - all positions except specified magic number |
| Max. total drawdown in currency | Total drawdown max. as absolute value in current currency - all positions except specified magic number |
| Max. total drawdown in % - magic only | Total drawdown max. as percentage of the account equity - only for the specified magic number |
| Max. total drawdown in currency - magic only | Total drawdown max. as absolute value in current currency - only for the specified magic number |
| Skip monitoring from hour | Disable monitoring from a specific time (hour) to avoid price spikes due to increased spreads when the market closes trading |
| Skip monitoring from minute | Disable monitoring from a specific time (minute) to avoid price spikes due to increased spreads when the market closes trading |
| Skip monitoring until hour | Disable monitoring until a specific time (hour) to avoid price spikes due to increased spreads when the market closes trading |
| Skip monitoring until minute | Disable monitoring until a specific time (hour) to avoid price spikes due to increased spreads when the market closes trading |
| Skip Saturday/Sunday | Disable monitoring on weekend |
| Pre-warning percentage | If 25 is entered, a pre-warning is issued when the DD reaches 75% (25% before the position is closed) |
| Specific magic number to monitor | If a magic number is entered, open positions with this magic number are considered separately in the total DD |
| Mobile notification | Enable/disable pre-warning Mobile notification |
| E-mail notification | Enable/disable pre-warning e-mail notification |
| Prefix mail subject | Prefix that will be indicated in the subject line of the e-mail to identify that it is a pre-warning from Drawdown monitor |
| Alert notification | Enable/disable pre-warning Alert notification (pop-up box) |
| Sound notification | Enable/disable pre-warning sound notification (only if Alert notification is disabled) |
| Broker commission per lot in account currency | Broker commissions per lot to be considered in the drawdown calculation |
| Control panel X position | Position in X of the Control Panel |
| Control panel Y position | Position in Y of the Control Panel |
| Display actual values | True = visualization of actual values False = visualization of set values |
| Background black | The background of the chart will be all black. |
![[Action Required]: Manual EA Pause Recommended](https://c.mql5.com/6/1027/splash-preview-775266.png "[Action Required]: Manual EA Pause Recommended")
