Disable signal temporarily on draw down
Hi, I'd like to prevent a signal from opening new positions once a certain draw down or margin level has been reached.
However, the signal should be able to close positions which can't be done if the signal is disabled completely.
Unfortunately all these settings seem not to be suitable for that: https://www.metatrader4.com/en/trading-platform/help/signals/signal_subscriber
The best setting would be "Stop if equity is less than [B]" however I don't want to close all positions but only have no new positions. It would be easy to compute this equity setting so that the signal couldn't push the account below for example 300 % margin level (the market could, of course, but there's a much larger safety buffer then).
Has anybody an idea how to achieve that in an EA with a single account (without copying selected trades to another account)?
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Hi, I'd like to prevent a signal from opening new positions once a certain draw down or margin level has been reached.
However, the signal should be able to close positions which can't be done if the signal is disabled completely.
Unfortunately all these settings seem not to be suitable for that: https://www.metatrader4.com/en/trading-platform/help/signals/signal_subscriber
The best setting would be "Stop if equity is less than [B]" however I don't want to close all positions but only have no new positions. It would be easy to compute this equity setting so that the signal couldn't push the account below for example 300 % margin level (the market could, of course, but there's a much larger safety buffer then).
Has anybody an idea how to achieve that in an EA with a single account (without copying selected trades to another account)?
Thank you for each contribution to this question!