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Drawdown Protector MT4

50 USD

Demo downloaded: 11

Published: 9 March 2024

Current version: 1.32

Drawdown Protector MT4

Name: Drawdown Protector MT4
Price: 50.00 USD
Rating: 5 (2 reviews)
Author: Konstantinos Kalaitzidis

Utilities
Konstantinos Kalaitzidis
Konstantinos Kalaitzidis
Greece

7826
4.7 (18)
- k-algos.com
Day trader since 2018 with enthusiasm about coding. Currently only focused in Expert Advisors.
Visit my personal website: k-algos.com

13 products 27 comments
Version: 1.32
Updated: 11 July 2025
Activations: 20

Drawdown protector is used to manage your desired Max Daily Drawdown. It's a highly valuable tool for traders, especially for prop firm traders, you need to be careful of the drawdown limits. It's an effective EA that is simple to use for Equity Drawdown Management purposes.

It works by blocking new trades - and closing existing trades, when the floating Equity (not Balance) exceeds the Daily Loss limit you've set. Also, you can set a Maximum Loss Limit for a SINGLE trade, which if exceeded, it'll block trading until the next calendar day.

The user inserts the value of the 3 parameters:

Daily Loss Limit in $: Maximum Loss in Nominal Currency (I use "$" just for example purposes). It's the maximum allowed drawdown in nominal value, for the Account Balance. If exceeded, the EA will block trading until next day.
Loss Limit per trade in $: Maximum Loss in Nominal Currency (I use "$" just for example purposes). It's the maximum allowed drawdown in nominal value, for a Single Trade. If exceeded, the EA will block trading until next day. (If you leave this parameter's value at zero (0), it won't be considered by the Expert Advisor)
Daily Profit Limit in $: In case you want to hold yourself from over-trading even when winning, you can set a Daily Profit Limit after which the EA will block trading for the rest of the day. It's observed that some traders are greedy and by looking for more profits, they lose the initial profits too! This parameter comes to help. (If you leave this parameter's value at zero (0), it won't be considered by the Expert Advisor)

Important Notes:

On EVERYTHING that the EA does (block trading, allows trading, cancels new trades etc.) it shows ALERTS on the MT4 terminal - as a pop up window with sound.
It's highly advised to use an MT5 on a VPS (Virtual Private Server) so that the EA runs 24/7 and manages the drawdown effectively! This is how I do it too.
If a loss is registered and trading becomes prohibited for the desired time period, please note that any other pending order/running trade will be automatically closed! Any pending orders will need to be set again when trading becomes enabled again.
If you wish this to be different, please contact me.
Make sure to enable AlgoTrading from the MT5, otherwise it’ll not run properly. (the EA isn’t permitted to open new orders anyway, only to cancel/close orders/trades)
It is advised that you first test it on a demo to see how the tool works.
You only need to activate the EA on one chart, and it'll work across all pairs you trade. Any loss/drawdown is measured globally and not for each pair. (for example, taking a loss on EUR/USD will disable trading for X amount of time you've set)
ANY Expert Advisor does NOT have the capacity to block a USER from placing manual trades. It can only intervene after a trade is placed manually, but that happens instantly (on the next price tick).
This MT4 version is different to the MT5 version of the Drawdown Protector EA I have in my profile.

The "Demo Version" can't work on MT4 backtesting simulation, only in live markets. That's true for most Utility EAs out there.

Feel free to message me for any special enquiry or question about this tool. I'm always open to help. You can check my MQL profile for the full list of tools I provide.

Please feel free to contact me through my MQL5 profile (by clicking on my name at the top of this page) if you have any question, issue, or a request about an additional feature. Trade safely!

You can check my Website for the full list of Metatrader tools I provide.

more...

Morgz 2025.07.30 12:36 #

Kostas was very helpful in helping me set up this EA, it works perfectly and I highly recommend this drawdown protector.

173

Yegor Sokolov 2024.11.12 21:44 #

Works perfectly, just as described by developer

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Revenge Trading Protector is a simple but effective tool for traders who can fall victim to revenge trading. Being a day-trader myself, I understand the psychological aspect of revenge trading and the desire to cover the losses. So, I developed this tool (that I use myself too) to be 100% sure I’m able to remain patient after a loss and not make irrational trading decisions. When you take a loss, the Revenge Trading Protector EA prevents you from opening another order (either limit order, sto

45 USD

Drawdown Protector is a utility tool used to manage your desired Max Daily Drawdown. In the era of prop firms and challenges, it's highly important to be aware of daily drawdown limits. It's an effective EA that is simple to use for Equity Drawdown Management and prevention of revenge trading. Input parameters: How many Hours to block trading? - Here, you set how many hours you want the EA to block new trades, after the Daily % Drawdown is breached. Value must be >0. Block trading until the n

50 USD

45 USD

The "Scalping Scale in" is a utility tool designed for scalpers who want to scale in an initial position at fixed distances without worrying about the S/L and T/P placement, because every second counts when scalping. How it works: You set your desired values in the inputs tab of the EA, and more specifically what Risk-to-Reward you want the T/P to be placed, how wide you want your S/L (in pips) - which also is the distance of the next next stop order (scale in position). You manually click Buy

40 USD

The "Candlestick Patterns Trade Panel" is the ultimate tool for traders who trade with Candlesticks Patterns and want the process of identifying a pattern and executing a trade, to be quick and effortless . With various but key input options, this tool suits to people who want to automate their candlesticks patterns manual trading, or assist them to take trades manually but faster than before, or simply inform them with the patterns they want to see. Let's go through the Trade Panel that appears

35 USD

Anti Grid Position Protector is a utility tool designed to protect you from the temptation of adding to a losing position in a hope of a drawdown recovery, or trying to hedge when you're not intended too. --------------------------Inputs--------------------------- Allow Hedging on Losing Positions? - It's a true/false input (double click to switch its value) which allows/disallows opening a trade (either pending order or market execution) in the opposite direction on an existing losing position

40 USD

The "FVG Screener PRO" is a utility tool designed to identify and alert on "fair value gaps" (FVGs), a concept popularized by ICT, but also to allow fast and efficient trade executions through its panel. This EA is intended to be used by traders who use fair value gaps in their trading. The panel provides a simple and intuitive interface for selecting the desired timeframes, enabling traders to focus on specific timeframes regardless of the timeframe that their chart is on. The EA scans the mar

40 USD

Symbol Drawdown Protector is a utility tool used to manage your desired Max Daily Drawdown only on a specific trading symbol. It's like a %-based stop loss, but it's functioning as a revenge protector tool too. In the era of prop firms and challenges, it's highly important to be aware of daily drawdown limits. It's an effective EA that is simple to use for Equity Drawdown Management and prevention of revenge trading. Input parameters: Daily % Drawdown - Here you set the Maximum Daily Dra

60 USD

This Expert Advisor helps enforce disciplined risk management by preventing new trades from being opened once a specified cumulative lot size across all open positions is reached. Designed for MT5, the EA continuously monitors the account’s active trades and calculates the total lot size. If the total exceeds the predefined limit, the EA temporarily blocks the execution of new market or pending orders. This is particularly useful for traders who want to control exposure/emotions during high-vola

40 USD

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Morgz 2025.07.30 12:36 #

Kostas was very helpful in helping me set up this EA, it works perfectly and I highly recommend this drawdown protector.

7826

Reply from developer Konstantinos Kalaitzidis 2025.07.30 13:11 #

I appreciate your words Morgan! I’m glad you liked the tool!

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Yegor Sokolov 2024.11.12 21:44 #

Works perfectly, just as described by developer

7826

Reply from developer Konstantinos Kalaitzidis 2024.11.12 22:36 #

Thank you very much! I’m glad it helped you :)