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RiskManager

5

The Expert Advisor is a risk manager helping users to control their trading. In the settings, it is possible to specify the parameters at which the risk manager force closes the opened trades and closes the terminal as well, if it is needed to prevent opening trades on emotions, which do not correspond to the trading strategy.

Link to Version for MetaTrader 5 

Risk Manager settings

  • Check limit to close - check the equity limit
  • Limit to close - equity limit that is taken into account
  • Check day limit to close - check the maximum daily loss limit
  • Type of limit:
    • SimpleLimit - simple limit that is calculated as the maximum drawdown per day (e.g. if the Check day limit to close is set to 10$ and the starting balance for the day was 100$ and during the day it went to 130$, the Risk Manager will close all the positions only when the equity goes as low as 90$ (100$-10$))
    • TrailingLimit - trailing limit that is calculated from the maximum profit per day (e.g. if the Check day limit to close is set to 100$ and the balance at the beginning of the day was equal to 1000$ and during the day it went as high as 1300$, the Risk Manager will close all the positions only when the equity goes as low as 1200$ (1300$-100$))
  • Day limit to lose - the maximum daily loss limit
  • Check week limit to close - check the maximum weekly loss limit
  • Week limit to lose - the maximum weekly loss limit
  • Check max profit per day limit - use daily profit limit
  • Profit day limit to close - daily profit tot close all trades
  • Check max amount of day trades - check the maximum number of trades per day
  • Max amount of day trades - the maximum number of trades per day
  • Check max losses per day - check the maximum number of losing trades per day
  • Max amount of losses per day - the maximum number of losing trades per day
  • Check max drawdown percentage per day - check the maximum daily drawdown percentage
  • Max drawdown percentage per day - the maximum daily drawdown percentage
  • Check max losses in a row - check the maximum number of losing trades in a row
  • Max amount of losses in a row - the maximum number of losing trades in a row
  • Check only orders without Magic - check only the orders that are opened without a magic number (that is often used in other EAs)
  • Check max opened orders amount - check the maximum allowed number of open orders
  • Max opened orders amount - the maximum allowed number of open orders
  • Close opened orders to fit the limit (not all) - close the remainder of opened orders to make it equal to Max opened orders amount 
  • Anti Grid - enable the protection against adding to losing positions
  • Max orders in one direction of grid - the maximum allowed number of trades allowed to be added to losing trades
  • Count broker's commission - take broker's commission into account
  • Count Swaps - consider swaps in calculations
  • Close terminal after limit overrun - close the terminal if one of the above limits is reached
  • Turn on info - show the information about the risk manager settings
  • Close terminal immediately - either immediate closure of the terminal after checking all the rules or closure with a minute delay
  • Seconds before close - the number of seconds before the terminal closes in case of the rules violation
  • Send PUSH notifications - send PUSH notifications when event triggered




Reviews 2
JoaoBR
296
JoaoBR 2021.10.22 13:19 
 

Great tool for risk management, with many options not available in other products. I needed an adjustment and was promptly attended to by the author. 5 stars!

lucat
303
lucat 2016.08.05 12:14 
 

Good Equity guardian.

It's a must for a seriuos trader.

I like the possibility to set a Daily DD or Profit to close orders and platform.

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Attention:  Demo version for review and testing can be downloaded   here . It does not allow trading and can only be run on one chart. Active Lines - a powerful professional tool for operations with lines on charts. Active Lines provides a wide range of actions for events when the price crosses lines. For example: notify, open/modify/close a position, place/remove pending orders. With Active Lines you can assign several tasks to one line, for each of which you can set individual trigger condi
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Ichimoku Assistant is a multi-timeframe panel and alert system that scans all timeframes for multiple rules related to different ichimoku strategies. The Ichimoku indicator has 5 different lines, including Tenkan-sen, Kijun-sen, Senku Span A, Senku Span B and Chikou Span. This scanner checks the status of these lines compared to each other and gives alert based on your selected rules. If you are using ichimoku kinko hyo in your trading strategy, this scanner and its alert and filtering system i
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The Expert Advisor is a risk manager helping users to control their trading. In the settings, it is possible to specify the parameters at which the risk manager force closes the opened trades and closes the terminal as well, if it is needed to prevent opening trades on emotions, which do not correspond to the trading strategy. Risk Manager settings Check limit to close   - check the equity limit Limit to close   - equity limit that is taken into account Check day limit to close   - check the
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This is a multi timeframe version of the  Supply and Demand indicator . It allows you to analyze a chart using the law of supply and demand on three different timeframes at a time. You will see zones of sales and purchases and determine the most profitable points to open positions. The indicator is based on the principle of market fractality. Supply and demand zones show places where a strong buyer or seller has made the price reverse and change its direction. The indicator has several types of
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Supertrend is an indicator showing the current trend direction on the selected instrument.  There are two built-in indicators used to define the current trend and the user can define which one of them to use in the settings: Average True Range Standard Deviation Period of the above indicators can be adjusted and should be lined up according to the traded instrument. It is possible to choose to which price (Close, High, Low, Open, Weighted) it is required to apply the price. By default the Typica
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The Supply and Demand with Swap zones MTF indicator is a modified and enhanced version of the Supply and Demand Multi Timeframe Indicator indicator, which helps you to analyze a chart using the rule of supple and demand on three timeframes at a time. This version has so-called swap zones - areas which have been broken through by the price but still have power. The most significant areas of the chart are "overlaps" where new supply/demand and swap zones are formed. The indicator supports several
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Currency strength indicator is an outstanding tool that is offering users multiple features to easily and professionally define the weak and strong currency pairs. Among the main benefits there is an ability to select up to 10 currencies for monitoring. The currencies are not limited so it is possible to watch after not only fiat currencies like EUR, USD, JPY or others but crypto like BTC, ETH and more. So-called exotic currencies like NOK, SGD, TRY are also available. By default the indicator t
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Current indicator shows the trading sessions for the major financial centres: London New York Tokyo Sydney There are available two types of displaying zones: in sub window below the chart and on the chart. When the subwindow is selected, the sessions are shown in the form of bars. If the sessions are shown on the main chart, they are displayed in the form of lines at the open price of the session that may also act as a support and resistance for further price action during the trading day.  The
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This is a multi timeframe version of the  Supply and Demand indicator . It allows you to analyze a chart using the law of supply and demand on three different timeframes at a time. You will see zones of sales and purchases and determine the most profitable points to open positions. The indicator is based on the principle of market fractality. Supply and demand zones show places where a strong buyer or seller has made the price reverse and change its direction. The indicator has several types of
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JoaoBR
296
JoaoBR 2021.10.22 13:19 
 

Great tool for risk management, with many options not available in other products. I needed an adjustment and was promptly attended to by the author. 5 stars!

lucat
303
lucat 2016.08.05 12:14 
 

Good Equity guardian.

It's a must for a seriuos trader.

I like the possibility to set a Daily DD or Profit to close orders and platform.

Reply to review
Version 1.66 2021.10.22
Added new function to Close opened orders to fit the limit (not all)
Version 1.65 2021.10.09
Added PUSH notifications
Version 1.64 2021.02.04
Trailing Limit has been deprecated
Version 1.63 2021.01.27
Fixed issue with orders not being deleted
Version 1.62 2021.01.27
Edited the error print
Version 1.61 2020.07.25
Fixed issue with displaying of invalid max tagged equity
Version 1.60 2020.01.04
Minor bug improvements
Version 1.59 2019.06.28
1. Fixed bug with calculation of daily losses in a row
Version 1.58 2018.02.13
1. Added the maximum profit per day for the Risk Manager to close positions

2. Added protections against "additions" against the trend (Anti-grid)

3. Added control of the maximum drawdown per week
Version 1.57 2017.02.27
Fixed issue with TrailingLimit.
When RiskManager is attached on a chart, the information in the upper left corner is displayed immediately and not only after the first tick is received.
Version 1.55 2016.08.17
Added time in seconds that could be adjusted by user and is counted before the terminal close in case of rules violation
Added option of swaps calculation for positions
Added the display of current drawdown in percentage in Comment section
Version 1.50 2016.08.01
Prices are now normalized in the functions of closing trades
An option of 1 minute delay before terminal close was added
Version 1.45 2016.05.17
Added check for exceeding the drawdown percentage
Added check for exceeding the number of simultaneously opened orders
Version 1.35 2015.10.05
Implemented commission calculations into each limit check
Added additional info about the current state of limit
Fixed few bugs