Relative Drawdown Monitor
Helps you keep track of the drawdown of the account at realtime.
The relative drawdown can be measured from the peak Equity to the current Equity level, or from the Max Balance to the current Equity Level.
Sound alert if predefined drawdown level is reached.
Once started, the EA will keep track of any new highest level for the equity, and calculate the drawdown on every tick.
If stopped or removed, the EA will keep track of the highest account value, so when restarted the drawdown can still be calculated from previous high.
This EA is informative only. It will not affect any open positions in any way.
If you are running another EA in your terminal for trading, you can deploy this one in another chart window to keep track of the drawdown
MeasureFromMaxEquity: the first parameter defines which calculation method will use. Leave it as is to measure from peak Equity, or set to false to measure from Max Balance instead.
InitialMaxLevel: the second parameter allows setting the initial max level for equity. The EA is not able to know which was the highest level beforehand, so you may set this if already known. Leave it empty and the EA will use the current account balance as the initial max level.
SoundAlertIfBelow: the third parameter allows setting an audible alert if the drawdown level falls below a predefined level. If left unchanged at 0, no sound alert will be emmited. if set to, for example -5.5, an alert will sound if relative drawdown fall below -5.5%.
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