Prop Trade Manager Risk Panel and Supervisor
- Utilities
- Version: 1.3
- Activations: 5
Prop Trade Manager Risk Panel and Supervisor is an order panel with a risk guard, made for prop firm and funded accounts. You choose how much to risk and where the stop is, and it calculates the lot size. Before every order it checks your limits and refuses the order if it would break them. It also moves the stop to break even, closes part of the position and trails the stop for you.
WHAT IT DOES
- Order panel on the chart with Buy and Sell buttons. The lot size is calculated from your risk % and your stop distance, on any symbol (forex, gold, indices, crypto).
- Stop loss and take profit are set automatically with the order. The take profit is a multiple of the stop distance.
- Total open risk limit: it refuses a new order if the money you lose when all stops are hit would go over your maximum (default 3% of balance).
- Group limits: markets that move together (metals, currency pairs, indices, crypto) are in groups that you can edit. It refuses a new order if the risk inside one group, or the number of open positions in that group, would go over your limit (default 1.5% and 2 positions).
- Daily loss limit: after your daily loss limit is reached (default 4% of the balance at the start of the day) it refuses new orders until the next trading day.
- Automatic break even: moves the stop to the entry price, plus an offset you choose, when the profit reaches a multiple of the initial risk.
- Partial close and trailing stop (off by default, you switch them on).
- It can manage also the positions you open by hand, not only the ones opened with the panel.
- Every refused order is written to a file (PTM_refusals_ followed by your account number, in the MQL5 Files folder) with the time, symbol, direction and the reason.
- The panel shows live: the lot size for the next order, the total open risk against your limit, the group risk, the number of positions without a stop, and the result of the day against the daily limit.
WHAT IT DOES NOT DO
- It gives no signals and never opens a trade by itself. A position is opened only when you press Buy or Sell.
- The supervisor checks the orders sent from its own panel. It cannot refuse an order that you send with the standard MetaTrader window or that another Expert Advisor sends.
- It does not close your positions when a limit is reached. It only refuses new orders. If you want a program that closes everything and locks the account, look at Prop Firm Loss Guard Pro, from the same author.
- It does not know the rules of your firm. You enter the numbers yourself.
- Risk is calculated from the stop loss. Slippage, gaps and spread can make the real loss bigger.
HOW THE RISK IS CALCULATED
- Risk of a position: the money you lose if the stop loss is hit, from the distance between entry and stop, the lot size and the tick value of the symbol. A position without a stop counts as zero risk, and the panel shows you how many positions have no stop. A stop already in profit also counts as zero.
- Total open risk: the sum of the risk of all open positions on the account, as a percentage of your balance.
- Daily loss: the result of the current trading day (closed trades plus floating result) compared with the balance at the start of the day. The trading day starts at the server hour you choose.
SETUP
1. Attach it to the chart of the symbol you want to trade. Enable Algo Trading in the terminal.
2. Set the risk per trade, the stop distance and the take profit.
3. Set the total risk, group and daily limits of your firm. Edit the group lists if your broker uses different symbol names.
4. Press Buy or Sell. If the order breaks a limit, the panel shows the reason in red and writes it in the refusal file.
INPUTS
Risk per trade, Stop loss distance, Take profit, Magic number, Maximum slippage, Use the supervisor, Maximum total open risk, Maximum risk inside one group, Maximum positions inside one group, Group lists (metals, currency pairs, indices, crypto), Use the daily loss limit, Daily loss limit, Server hour when the trading day starts, Manage positions opened by hand, Break even (on / at which R / offset), Partial close (on / at which R / percentage), Trailing stop (on / start / distance), Panel position and font size.
Want to try the order panel first? Prop Trade Manager Starter Panel is free.
More tools from the same author.
Try Prop Trade Manager Positions Dashboard (free) to see the risk of all your open positions in one table, and Liquidity Sweep Marks Swing Highs and Lows (free) to mark the liquidity levels on your chart. If you trade a prop firm account, also look at Prop Firm Loss Guard Pro. Find them in the Market: open my profile and press "More from author".
DISCLAIMER
This is a trade management utility. It is not financial advice and it does not guarantee any result or that a loss limit will not be exceeded. Trading leveraged products carries a high risk of loss. Slippage, price gaps, a lost connection or a stopped terminal can cause losses beyond the limits. You are responsible for your own account.
