Market / MetaTrader 5 / Utilities /

Drawdown Protector

50 USD

Demo downloaded: 8

Published: 22 November 2022

Current version: 2.0

Drawdown Protector

Name: Drawdown Protector
Price: 50.00 USD
Author: Konstantinos Kalaitzidis

Utilities
Konstantinos Kalaitzidis
Version: 2.0
Updated: 4 May 2024
Activations: 20

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 next calendar day? - Yes/No (double click to change it). Here, you set if you want the blocking of new trade to take up to the new calendar day (midnight on server's timezone), regardless of the input above (Hours to block trading).
In case that this input is set to "Yes" and you have also set "hours to block trading" with the input above, the trading will be allowed again on the earliest time out of the two parameters.
Daily % Drawdown - Here you set the Maximum Daily Drawdown in 0.0% format (i.e. 1.5%) that you want as a limit.

Send Mobile Notification: If "true", the EA will send you notifications through your Mobile MT5 app. Make sure you've connected it with your computer's terminal. (I have attached a screenshot of a test notification, for illustration purposes)
Alert on Terminal: If "true", the EA will send alerts in a new window when new patterns form, or when there's an error with a trade order.
Print on Journal: If "true", the EA will print in the Journal tab of the terminal. It's the lowest form of communication between the user and the EA.

Make sure you have enabled "Algo trading" from both "Common" tab on the EA settings, AND from the top side of the MT5 terminal. (The EA on the top right of the chart should have a blue hat, not grey)

The "Demo Version" can't work on MT5 backtesting simulation, only in live markets. That's true for most of the Utility EAs out there, and it's not a problem of this EA.

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.

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News Filter Protector is designed to protect your from having open positions/orders on news announcements. In today's world where news can cause unpredictable volatility and extended losses, such a tool is very helpful for your peace of mind since you don't need to check the calendar ever again! Let's go through the Inputs of the EA to get an understanding of how each parameter works: --------------------------------News Settings-------------------------------- Currencies of the News to Filter

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The "Candlestick Patterns Trade Panel" is the ultimate tool for traders who trade with Candlestick 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

45 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

Filter:

Williams Southwood 2023.08.07 22:24 #

User didn't leave any comment to the rating

937

Reply from developer Konstantinos Kalaitzidis 2023.08.09 01:20 #

I'm happy you're satisfied with the EA! Thank you!

Version 2.0 2024.05.04

Added mobile notifications. with options to select every communication type (in the inptus tab), that the user may want.