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Drawdown Manager MT5

Welcome to Drawdown Manager MT5, an equity protector - a robust MetaTrader 5 Expert Advisor crafted to manage trades and safeguard your trading account. This tool is designed with enhanced features to elevate your trading journey and secure your investments, making it especially beneficial for proprietary trading firms.

You can download the MT5 demo version here

MT4 version is available here

Detailed documentation 

General Settings

  • Magic Number
    • Enable Magic Number: Activate Magic Number functionality.
    • Magic Number: Input a unique identifier for the EA.

Trading Options

  • Delete Pending Order After Bars: Define the number of bars before pending orders are deleted.
  • Loss Amount: Set a fixed loss amount to mitigate losses.
  • Loss Percent: Specify a percentage-based loss limit.

Swap and Commission

  • Check Swap and Commission: Activate to monitor swap and commission.

Safeguard Settings

  • Maximum Limits
    • Max Open Trades: Set the maximum allowable open trades.
    • Max Long Trades: Define the maximum number of long trades.
    • Max Short Trades: Specify the maximum number of short trades.
    • Max Pending Orders: Set the maximum allowable pending orders.
    • Max Drawdown Percent: Specify the maximum acceptable drawdown percentage.
    • Max Trades Per Day/Week/Month: Set trade limits for each time period.
    • Enable/Disable Closed Trades in Drawdown Calculation: When disabled, drawdown is calculated based on active trades only, excluding closed trades.

Daily, Weekly, and Monthly Drawdown Limits

  • Daily Drawdown Percent: Set a daily drawdown limit.
  • Weekly Drawdown Percent: Define a weekly drawdown limit.
  • Monthly Drawdown Percent: Specify a monthly drawdown limit.

Actions Settings

  • Close Trades and Terminal Options
    • Close Trades: Enable or disable automatic closure of all trades during drawdown.
    • Close Charts: Toggle to close or keep open charts.
    • Close Terminal: Choose whether to close or keep the trading terminal.
    • Close Highest Losing Trade: When enabled, only the highest losing trade will be closed.

Display Settings

  • Dashboard and Panel Customization
    • Show Dashboard: Toggle the visibility of the dashboard.
    • Panel Width and Height: Adjust the dimensions of the dashboard panel.
    • Text Size: Set the text size for optimal readability.
    • Title, Label, and Value Colors: Customize colors for titles, labels, and values.

Alert Settings

  • Notifications and Alerts
    • Allow Alert: Enable or disable alert notifications.
    • Allow Notification: Enable or disable system notifications.
    • Allow Email: Toggle email notifications on or off.

Conclusion The EA Utility Tool provides a comprehensive solution for trade management and account protection, serving as a valuable asset for proprietary trading firms. Configure the settings to align with your trading strategy and risk appetite, enhancing your trading experience.

For support or further assistance, please reach out to our dedicated support team.


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Version 4.0 2024.04.24
alert and and action field is added