Advance Risk Manager Equity and Trade Protection

Risk Manager - Equity and Trade Protection

Risk Manager is a utility Expert Advisor for MetaTrader 5 that monitors open positions and account equity and closes trades when predefined risk limits are reached.

The EA does not open trades. It can run alongside manual trading, signal services, or other Expert Advisors and manages risk by closing positions when defined thresholds are reached.

The program operates using two independent modules.

Per-trade profit and loss monitoring
Account equity monitoring

Both modules can operate simultaneously or independently. The EA checks account conditions at regular intervals using a timer.

Per-Trade PnL Monitoring

This module monitors each open position individually. A position can be closed when its floating profit or loss reaches the configured limit.

Two calculation methods are available.

Fixed amount
Profit or loss is measured in the account currency.

Percentage
Profit or loss is calculated as the percentage price movement from the entry price.

Buy position calculation:
(Current Bid - Entry Price) / Entry Price * 100

Sell position calculation:
(Entry Price - Current Ask) / Entry Price * 100

Account Equity Monitoring

This module monitors total account equity and closes positions if the configured equity limits are reached.

Four baseline calculation modes are available.

Defined
A fixed baseline value set manually by the user.

Auto
Baseline equals the account balance and is reset automatically when all positions are closed.

Daily
Baseline is updated once per day at server midnight.

Trailing
The baseline follows the highest observed equity value. The stop level adjusts as equity increases.

Position Closing Logic

When the equity limit is reached the EA closes positions according to the following logic.

If profitable positions exist, profitable trades are closed first.
If no profitable positions are present, all positions are closed.

Execution Order

At each check interval the EA performs the following steps.

Scan open positions and apply per-trade limits.
Recalculate account equity.
Apply account-level limits if necessary.

Input Parameters

General Settings

Check Interval (seconds)
Defines how often the EA checks account conditions.

Per-trade Monitoring

PnL Mode
Disabled / Fixed Amount / Percentage

Per-Trade Take Profit
Per-Trade Stop Loss

Account Monitoring

Baseline Mode
Disabled / Defined / Auto / Daily / Trailing

TP/SL Type
Fixed Amount or Percentage

Define Baseline
Used in Defined mode

Account Take Profit
Account Stop Loss

Installation

Copy the compiled file to the MQL5/Experts folder and attach the EA to any chart.

The EA monitors all open positions on the account regardless of symbol.

Enable Algo Trading in MetaTrader before running the program.

Use Cases

Account drawdown control
Daily loss limits
Profit locking
Additional protection when running other Expert Advisors

Notes

Positions are closed using market orders and execution may be affected by slippage during periods of high volatility.

The terminal must remain running for the EA to monitor positions.

This software is a risk management utility and does not guarantee trading results.

Testing on a demo account is recommended before live use.

Version

Version 1.10
Initial public release
Version 1.22
Panel + notifications