Risk Manager Pro MT5

The Expert Advisor is a comprehensive risk manager helping users to control their trading activities. With this tool being a safeguard you can easily configure various risk parameters. When any limit is exceeded, the risk manager can force close opened positions, close other EAs, and even close the terminal to prevent emotional trading that doesn't correspond to your trading strategy.

Risk Manager Settings

Account Protection

• Check min equity limit to close all (account currency) - check the minimal equity limit at which the risk manager will close all positions and cancel all orders
• Min equity limit to close all (account currency) - minimum account equity triggering loss prevention measures
• Type of limit:
• Daily limit - limit calculated on a daily basis (e.g. if the daily loss limit is $10 and starting equity was $100, positions close when equity drops to $90). Resets each day.
• Trailing limit from highest tagged equity - limit calculated from the maximum equity value ever reached (e.g. if loss limit is $100 and equity peaked at $1300, positions close when equity drops below $1200).
• Reset Trailing Limit at the start of each day - resets max tagged equity to current equity daily

Daily Limits

• Check daily loss limit (account currency) - enable maximum daily loss monitoring according to the Type of limit setting
• Daily loss limit (account currency) - maximum daily loss allowed
• Check max daily drawdown (percentage) - enable maximum daily drawdown percentage monitoring
• Max daily drawdown (percentage) - maximum daily drawdown percentage allowed
• Check max daily profit (percentage) - enable profit limit to close positions when threshold is exceeded
• Max daily profit (percentage) - maximum daily profit percentage before closing positions
• Check max daily profit (account currency) - enable daily profit limit in currency amount
• Max daily profit limit (account currency) - maximum daily profit in currency before closing positions
• Check max amount of daily trades - enable maximum number of trades per day monitoring
• Max amount of daily trades - maximum number of trades allowed per day
• Check max daily losses count - enable maximum number of losing trades per day monitoring
• Max amount of daily losses - maximum number of losing trades allowed per day
• Check max consecutive losses - enable maximum number of consecutive losing trades monitoring
• Max amount of consecutive losses - maximum number of consecutive losing trades allowed

Weekly Limits

• Check weekly loss limit (account currency) - enable maximum weekly loss monitoring according to the Type of limit setting
• Weekly loss limit (account currency) - maximum weekly loss allowed

Position Management

• Check max opened positions count - enable maximum number of open positions monitoring
• Max opened positions count - maximum number of positions allowed to be open simultaneously
• Close positions to fit the limit (not all) - close only excess positions to fit within the limit instead of closing all
• Check max loss per single trade - enable individual position loss monitoring
• Max loss per single trade (account currency) - maximum loss allowed for any single position
• Check max loss of all opened positions (currency) - enable monitoring of total loss across all open positions in currency amount
• Max loss of all opened positions (account currency) - maximum total loss allowed across all open positions
• Check max loss of all opened positions (percentage) - enable monitoring of total loss across all open positions as percentage of equity
• Max loss of all opened positions (percentage of equity) - maximum total loss allowed across all open positions as percentage of current equity
• Anti Grid protection - enable protection against adding to losing positions
• Max orders in one direction for anti-grid - maximum number of trades allowed in the same direction

Trading Session Control

• Enforce allowed trading hours - enable time-based trading restrictions
• Session start hour (0-23 broker-time) - first hour when trading becomes allowed
• Session end hour (0-23, broker-time) - hour when the trading session ends

Risk Counting Options

• Include running/opened positions in calculations - include open positions in risk calculations (not just closed ones)
• Include broker's commission - include broker's commission in loss/profit calculations
• Include swaps - include swap charges in loss/profit calculations
• Check only orders without Magic Number - monitor only positions opened without magic numbers (typically manual trades)

Actions on Limit Breach

• Close chart with other EA after limit overrun - close specified chart to stop other EAs from trading
• Chart symbol to close after limit overrun - symbol name of charts to be closed when limits are exceeded
• Close terminal after limit overrun - close the entire terminal when any limit is reached
• Close terminal immediately - immediate terminal closure vs. delayed closure with countdown
• Seconds before terminal close - countdown time before terminal closes (if not immediate)

Notifications

• Send PUSH notifications - send mobile push notifications when events are triggered
• Send Email notifications - send email alerts when events are triggered

Display Settings

• Show information on chart - display risk manager status and limits on the chart
• Font size for display - set font size for the information display
• Font color for display - set color for the information display