Relative Drawdown Monitor

Helps you keep track of the drawdown of the account at realtime.

The relative drawdown is measured from the peak Equity to the current Equity level.

A sound alert can be set if a 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

Parameters:

InitialBalance: The amount of money on the trading account when started trading the account.

InitialMaxLevel: 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 equity as the initial max level.

ShowAsPct: Displays the drawdown as a percentage. Otherwise the money amount will be shown. Default is true

SoundAlertIfBelow: 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%.