DrawDown For Prop Firm

The "DrawDown For Prop Firm" is designed to manage drawdown levels for prop firm challenges using the MetaTrader 4 (MT4) platform. The EA aims to monitor the drawdown of the trading account and take necessary actions when the drawdown exceeds a specified trigger percentage.

Example Scenario:

Assume you have a trading account with an opening balance of $5000. You decide to use the "DrawDown For Prop Firm" EA to manage your drawdown, and you set the drawdown trigger percentage to 4%.

EA Configuration:

  • Opening Balance : $5000
  • Drawdown Trigger Percentage : 4%

Monitoring and Actions:

  1. Initialization:

    • The EA initializes with your provided settings, including the opening balance of $5000 and the drawdown trigger of 4%.
  2. Drawdown Calculation:

    • As you execute trades, the EA constantly monitors the account's drawdown by calculating the difference between the opening balance and the current equity.
  3. Trigger Threshold:

    • Since you set the drawdown trigger to 4%, the EA will take action when the calculated drawdown percentage reaches or exceeds 4%.
  4. Example Drawdown Scenario:

    • Suppose, after executing some trades, your current equity drops to $4800. The drawdown would be $5000 (opening balance) - $4800 (current equity) = $200.
  5. Drawdown Trigger Action:

    • As the drawdown exceeds the 4% threshold, which is $200 (4% of $5000), the EA will trigger and take action.
  6. EA Actions:

    • The EA will automatically close all open positions to prevent further losses.
    • If configured (e_b_DeletePendingToo set to True), the EA will also delete any pending orders.

User's Role:

  • Manual Drawdown Entry:
    • Before running the EA, you, as the user, need to manually enter the drawdown trigger percentage (4% in this example) through the EA settings.

Benefits:

  • Risk Management:

    • The EA helps you manage risk by closing positions when the drawdown reaches a predefined threshold, in this case, 4%.
  • Account Protection:

    • By setting a drawdown limit, the EA acts as a safeguard, preventing excessive losses and protecting your prop firm account from breaching predetermined limits.
  • User Control:

    • The manual entry of the drawdown limit provides you with control over the risk management strategy, allowing you to adapt the EA to your specific risk tolerance.

Installation

  1. Download the EA: Obtain the compiled (.ex4) file for the "DrawDown For Prop Firm" EA.

  2. Copy to Expert Folder: Place the .ex4 file into the "Experts" folder of your MetaTrader 4 platform. This folder is usually located within the root directory of your MT4 installation.

    Example Path: C:\Program Files\MetaTrader 4\experts

Settings and Features

Settings Section

Opening Balance 

  • Default: 10,000.0
  • Description: The opening balance of the trading day. This value needs to be set by the user for the EA to function correctly.

Drawdown Trigger Percentage 

  • Default: 2.0
  • Description: The percentage drawdown trigger. If the current drawdown percentage exceeds this value, the EA will take necessary actions.

Maximum Slippage in Points 

  • Default: 30
  • Description: The maximum allowed slippage in points for closing positions.

Delete Pending Orders on Trigger

  • Default: False
  • Description: If set to True, the EA will delete all pending orders when the drawdown trigger is reached.

Display Section

Top Padding 

  • Default: 0
  • Description: Adjusts the vertical padding at the top of the display in the MT4 chart.

Left Padding 

  • Default: 0
  • Description: Adjusts the horizontal padding on the left side of the display in the MT4 chart.

Usage

  1. Initialization: The EA initializes the account currency, opening balance, and drawdown trigger percentage during the OnInit() function.

  2. Drawdown Monitoring: On every tick, the EA monitors the account's drawdown by calculating the difference between the opening balance and the current equity.

  3. Actions on Drawdown Trigger: If the calculated drawdown percentage exceeds the specified trigger percentage, the EA will close all positions and, if configured, delete pending orders.

  4. Display: The EA displays relevant information, including balance, equity, drawdown trigger, current drawdown, drawdown trigger percentage, and current drawdown percentage in the MT4 chart.

Additional Notes

  • Opening Balance: The user must set the opening balance for each trading day through the EA settings.

  • Website Link: For more information or support, visit www.meta4indicators.com.

  • Version: Current version is 1.5.

Disclaimer

Trading involves risk, and it is recommended to thoroughly understand the EA's functionality before using it in live trading. The EA's behavior can be adjusted through the provided settings to align with specific trading preferences and risk tolerance.


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Konstantin Kulikov
5 (1)
Hello friends. I wrote this utility specifically for use in my profile with a large number of Expert Advisors and sets ("Joint_profiles_from_grid_sets" https://www.mql5.com/en/blogs/post/747929 ). Now, in order to limit losses on the account, there is no need to change the "Close_positions_at_percentage_of_loss" parameter on each chart. Just open one additional chart, attach this utility and set the desired percentage for closing all trades on the account. The utility has the following function
Drawdown Protector MT4
Konstantinos Kalaitzidis
5 (2)
Le protecteur de tirage est utilisé pour gérer votre tirage quotidien maximum souhaité. C'est un outil très précieux pour les traders, en particulier pour les traders des sociétés d'accessoires, vous devez faire attention aux limites de prélèvement.    Il s'agit d'un EA efficace et simple à utiliser à des fins de gestion des prélèvements de capitaux propres. Il fonctionne en bloquant les nouvelles transactions et en fermant les transactions existantes lorsque les capitaux propres flottants (et
X2 Copy MT4
Liubov' Shkandrii
Rapide. Précis. Innovant. Technologique. Découvrez la copie instantanée de transactions avec le révolutionnaire X2 Copy MT4. Avec seulement 10 secondes d'installation simple, vous obtenez un outil puissant pour synchroniser les transactions entre les terminaux MetaTrader sur un seul ordinateur ou Windows VPS avec une vitesse sans précédent. Que vous gériez plusieurs comptes, suiviez des signaux ou déployiez votre stratégie, X2 Copy MT4 s'adapte à votre flux de travail avec une précision et un co
Trendline PRO MT4 Trendline PRO MT4 est un Expert Advisor semi-automatisé pour MetaTrader 4 qui exécute des trades, gère des ordres ou envoie des alertes à partir de lignes de tendance et de niveaux de graphique créés par l'utilisateur. L'Expert Advisor ne génère pas de signaux de trading et n'inclut pas de stratégie intégrée. Toutes les entrées, sorties, règles de risque et règles de gestion sont définies par l'utilisateur sur le graphique. Le produit est conçu pour les traders qui utilisent dé
Custom Alerts AIO : Surveillez tous les marchés à la fois — sans aucune configuration Présentation Custom Alerts AIO est une solution de surveillance du marché prête à l’emploi, sans configuration nécessaire. Tous les indicateurs requis — FX Power, FX Volume, FX Dynamic, FX Levels, IX Power — sont directement intégrés. Aucun graphique n’est affiché, ce qui rend cet outil idéal pour la génération d’alertes en temps réel. Il prend en charge toutes les classes d’actifs proposées par votre courtie
Candlestick Pattern Scanner is a multi-timeframe and multi-symbol dashboard and alert system that checks all timeframes and currency pairs for different candlestick patterns that are formed in them. Scanner is integrated with support and resistance zones so you can check the candlestick patterns in the most important areas of the chart to find breakout and reversal patterns in the price chart. Download demo version   (works on M30,D1,W1 timeframes and 20 symbols of Market Watch window) Read the
Telegram to MT4 Pro란 무엇인가요? Telegram to MT4 Pro 는 비공개, 공개 및 제한된 Telegram 채널과 그룹의 신호를 사용자의 MetaTrader 4 계정으로 자동 복사합니다. Telegram to MT4 Pro 는 모든 Telegram 채널 또는 그룹의 트레이딩 신호를 사용자의 MetaTrader 4 계정으로 실시간 자동 복사하는 전문 신호 복사기이며, 각 거래를 완전히 제어할 수 있습니다. 이 시스템은 함께 작동하는 두 부분으로 구성됩니다: 이 Expert Advisor — 거래 실행을 위해 MT4 차트에 설치됩니다 보조 데스크톱 앱 — TelegramMT4Pro.exe — Telegram에 연결하고 신호를 EA로 전달합니다 여러 Telegram 제공자를 여러 MT4 계정에 동시에 연결할 수 있습니다. 모든 설정은 계정별, 제공자별로 구성할 수 있습니다. 참고: 시스템은 자동으로 작동합니다. MetaTrader 내부에서 수동 연결 설정이 필요하지
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Welcome to Josmellon GOLD EA V5, an automated trading solution designed for XAUUSD (Gold) on MetaTrader 4. It uses automation and a sophisticated strategy tailored for the dynamic Gold market. Overview : Crafted for Gold trading to capitalize on its liquidity and movements. Relies on two Triangular Moving Average-based indicators for trade decisions. Key Features: Automated Execution: Executes precise and timely orders in the volatile Gold market. Indicator-Based Signals: Rel ies on two selecte
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