Drawdown or equity protector
There are many indicators for MT4 and MT5 (on the forum, in CodeBase and in the Market) so you can search something which may be suitable for you for example:
How to make a search on the forum/CodeBase/Market:
https://www.mql5.com/en/forum/193510
- 2017.05.29
- augusdel
- www.mql5.com
I could easily build it, but EA's that trade are made the way they are for a reason. A lot of EA's can't do well with low drawdown, and they are not designed to care about drawdown. Therefore, if one EA can only actually be profitable with large drawdown, the moment you add an extra EA that limits drawdown - you will have loss after loss - simply because that trading system works only for large drawdown.
Some trading systems are going to provide low drawdown, while other trading systems are going to cause large drawdown. It's down to the system.
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Hi,
Sorry if there a similar post like this. I have an EA but it doesnt have a way to manage the daily drawdown. Is there a free EA to add this feature? I meant while running my EA additional EA can look after the dradown.
Thanks