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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 (account currency) - equity limit that is checked when Check limit to close is active
  • 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 (account currency) - the maximum daily loss limit
  • Check max drawdown percentage per day - check the maximum daily drawdown percentage
  • Max drawdown per day (percent) - the maximum daily drawdown percentage
  • Check max profit percentage per day - check the maximum daily profit percentage
  • Max profit per day (percent) - the maximum daily profit percentage
  • Check max loss per trade -  check the maximum Loss of a single trade in account currency
  • Max loss per trade (account currency) - the maximum Loss value of a single trade in account currency
  • Check max loss percentage per trade -  check the maximum Loss percentage of a single trade in percentage
  • Max loss per trade (percentage) - the maximum Loss value of a single trade in percentage
  • Check week limit to close - check the maximum weekly loss limit
  • Week limit to lose (account currency) - the maximum weekly loss limit
  • Check max profit per day limit - use daily profit limit
  • Profit day limit to close (account currency) - daily profit to 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 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
327
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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If you need an advisor on any arrow indicator signals - this utility will definitely help you.  You will be able, with the help of this utility to form an unlimited number of EAs on YOUR signals , with your set of settings, with your copyright and complete source code . You will be able to use the resulting EAs unlimitedly , including adding them to the Market and other resources. Generated Martingale EA with the help of this script - here Free simple version of the generation script to help yo
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Copy Signals from any channel that you are a member (including private and restricted) straight to your MT4.  This tool has been designed with the user in mind while offering many features you need to manage and monitor the trades. This product is presented in an easy-to-use and visually attractive graphical interface. Customise your settings and start using the product within minutes! Setup & User Guide For the MT5 version please   click here If you want to try a free trial for 7 days please
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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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Filter:
JoaoBR
327
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 1.78 2023.09.18
Added ability to check Weekly limit in Trailing and SimpleLimit modes
Version 1.77 2023.08.24
1. Added Risk per trade check attribute
2. Resorted the order of parameters
Version 1.76 2023.08.05
Fixed push alerts
Version 1.75 2023.08.05
1. Fixed displaying of max drawdown percentage.
2. Fixed naming of the positions\orders alerts.
3. Added some descriptions
Version 1.73 2023.07.31
Added max profit percentage per day
Version 1.72 2023.05.15
Fixed issue with TrailingLimit for day limit to lose
Version 1.71 2023.05.11
Increased risk manager calculations speed
Version 1.70 2023.05.11
1. Added daily loss in percent parameter
2. Fixed minor text issues
Version 1.67 2022.10.21
Added more descriptions to alerts when triggers hit
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