Flash Panic Protector Possible?
You could maintain pending orders, if you are not trading with a stop loss... which you should be doing, I guess.

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I'm new to MT5, is it possible to create an EA where if a particular instrument falls say > X% within 15 minutes, it will close all open positions in the account, or at least close all open positions of that instrument?
I did some searching and surprised I couldn't find any pre-existing, although the repository of MT5 EA's appears to be a small fraction in size compared to MT4 because of the longer history.