ArgosWatch Drawdown Meter MT5
- Indicators
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Antonios Kokkalis
Trader and systems developer. 12 years on MT4, MT5, and NinjaTrader 8.
PUBLISHED WORK
MQL5 Market — ArgosWatch Institutional Prop Suite:
- Prop Challenge Guardian MT5-Daily and maximum drawdown barrier with on-chart SOS danger line and instant lot matrix - Version: 1.0
ArgosWatch Drawdown Meter MT5 — Daily Loss & Maximum Drawdown Live Monitor
Most trading accounts and prop challenge attempts are not lost to a bad strategy. They are lost to arithmetic performed under pressure: trying to calculate mid-trade how much of today's loss allowance is already gone and whether the next position still fits inside it.
ArgosWatch Drawdown Meter answers that question continuously in real time, and adds something a simple readout cannot give you: an on-chart daily history strip showing how close you have been running to your daily limit day after day.
Key Features:
Live Account Monitoring:
- Daily Loss Tracker: Tracks today's loss against your daily limit as a percentage and visual progress bar.
- Maximum Drawdown Tracker: Monitors total drawdown against your starting balance.
- Room Left in Cash: Shows exactly how much money in your account currency remains before hitting your daily or total limit.
- Intelligent Alert Engine: Configurable alert threshold (e.g. 80% of limit used) with automatic re-arm logic to prevent spam.
Historical Discipline Strip:
- Daily History Bar Strip: Displays the last 10 to 20 trading days directly on your chart, showing the percentage of daily loss allowance consumed each day.
- Identifies Position Sizing Issues: A single 90% day might be bad luck, but 7 out of 10 days near the limit reveals an underlying risk management flaw.
- Performance Summary: Instantly displays your worst day in the period and total days traded.
Engineered for Accuracy:
- Lazy Baseline Resolution: Reconstructs the 00:00 broker server midnight balance by calculating all closing profits, commissions, swaps, and fees since midnight. Attaching mid-session gives the 100% accurate daily loss figure rather than resetting to zero.
- Rollover Resilience: Rebuilds baselines at midnight even if your PC was sleeping or your terminal was delayed.
- Equity or Balance Based: Toggle between Equity (includes floating P/L) and Balance mode with a single input.
Part of the ArgosWatch Prop Suite:
Explore our specialized paid tools for complete prop firm challenge and funded account protection:
- ArgosWatch Prop Challenge Guardian MT5: Real-time drawdown barrier with instant lot size calculation matrix and SOS danger line.
- ArgosWatch Prop Consistency Guard MT5: Profit consistency rule tracking (Best Day / Best Trade % cap) and currency exposure guard.
- ArgosWatch Prop News & Volatility Guard MT5: Native MT5 economic calendar countdown with prop 2-minute news window restriction alerts and spread widening detection.
Input Settings:
- Starting Balance: Your initial challenge or account balance (0 disables maximum drawdown).
- Daily Loss Limit (%): Your daily drawdown rule (default: 5.0%).
- Maximum Drawdown Limit (%): Your maximum overall drawdown rule (default: 10.0%).
- Drawdown Calculation Method: Equity-Based or Balance-Based.
- Days Shown in History Strip: Number of recent trading days to display (0 to 20).
- Alert Level (% of limit used): Threshold to trigger popup and sound warnings (default: 80%).
Important Notes & Limitations:
- Monitoring and informational tool only. Does not place, modify, or close trades automatically.
- Assumes daily rollover occurs at broker server midnight (00:00).
- Trailing drawdown rules are not calculated.
- For informational purposes only. Not financial advice.
