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Drawdown Locker
Requiring an EA that moves the SL/TP’s off all orders on a pair to lock in a particular profit/loss level once price has moved a certain distance.
The EA requires an on-chart interface. It will display the pair (the chart it is open/active on), the current drawdown of that pair, and two additional fields that the user can enter drawdown values.
The two additional inputs on the interface that are required are:
Activation Drawdown
Lock Drawdown.
When drawdown for the pair reaches the activation drawdown then all Take Profits and Stop Losses will be moved to the Lock Drawdown amount.
Interface
|
DRAWDOWN LOCKER |
|||
|
PAIR |
CURRENT DD |
ACTIVATION DD |
LOCK DD |
|
EURUSD |
-0.22 |
|
|
Example 1:
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|
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|
PAIR |
CURRENT DD |
ACTIVATION DD |
LOCK DD |
|
EURUSD |
-0.22 |
0.50 |
0.25 |
User specifies that when drawdown of that pair reaches 0.5% then all Stop Losses and Take Profits will be moved to lock in a gain of 0.25%.
Example 2:
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|
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|
PAIR |
CURRENT DD |
ACTIVATION DD |
LOCK DD |
|
EURUSD |
-0.22 |
-0.40 |
-0.80 |
User specifies that when drawdown of that pair reaches -0.4% then all Stop Losses and Take Profits will be moved to lock in a loss of -0.8%
Other info:
If user enters no +/- sign, the EA will assume it is a positive value (so + does not have to be entered). Negative sign in front of the value will specify a negative drawdown value.
It will only work on the pair that the EA is open on. Can open on multiple charts so it will work independently on multiple pairs.
Accurate to two decimal places.
Draw down is calculated based on the percentage of loss/gain for that pair vs account balance (not equity).