Are you uninterested in watching your buying and selling account steadiness dwindle all the way down to zero after a number of dangerous trades? Do you battle to satisfy your every day drawdown targets imposed by funding organizations like FTMO and My Foreign exchange Funds? Look no additional than Draw Down Limiter, the professional advisor that protects your account from catastrophic losses and helps you meet your funding necessities.

Draw Down Limiter is the last word danger administration device that ensures your buying and selling account stays afloat throughout risky market circumstances. Its refined algorithms detect potential drawdowns and routinely restrict your losses, stopping your account from being worn out. Plus, it helps you meet your every day drawdown targets, growing your possibilities of efficiently securing funding from high buying and selling corporations.

With Draw Down Limiter, you possibly can commerce with confidence, understanding that your account is protected against the unpredictable nature of the markets. So, whether or not you are a newbie or an skilled dealer, add Draw Down Limiter to your arsenal and take your buying and selling to the subsequent stage.

I’m an EA automated dealer, and I developed this utility to assist me respect this rule, and I’m proposing it right here that will help you too. This EA is good for copy buying and selling or EA buying and selling with a prop agency.

You will discover the EA underneath:

The EA functionalities:

The professional advisor’s important perform is to monitor all of the actions on the account, whether or not it was a guide or automated commerce by one other professional advisor. You could add it to a chart, and it’ll take management. It calculates the Most Each day Loss = outcomes of closed positions of this present day + the results of open positions. When a commerce opens, the EA will show your every day revenue/loss. As soon as the draw-down proportion is reached, it closes all open positions and orders. Any new order can be immediately closed. On the finish of the day or talked about vary, the edge is ready again to zero, and a brand new day begins.  

A complicated mode of this EA, if you’re an professional advisor developer, is to make use of to finish your present professional advisor. The Drawdown Limiter EA can move directions to stop your EA from sending orders, and it will assist you to not pay commissions for trades executed after the drawdown restrict is reached. Examine the superior part beneath.

The EA Settings:

• GENERAL EA SETTINGS
• Magic quantity: It retains monitor of the trades closed by the EA.
  
• Commerce remark: Remark included within the order executed by the EA

• DEFINE YOUR RESET RANGE
• Drawdown Reset Cycle: You’ll be able to even select a cycle on the opening of the every day bar or a selected vary. If the latter is chosen, you should outline your begin time vary.  The precise vary can be in contrast final recognized server time seen within the Market Watch window.
• Particular Vary hour (0-23): Begin hour of the vary.
• Specific Vary minute (0-59): Begin minute of the vary.
• SET YOUR RISK
• Preliminary Deposit: You’ll be able to calculate the drawdown from the preliminary deposit quantity, normally FTMO impose this rule, from the fairness which is rule from My Foreign exchange Funds, or from the steadiness firstly of the day.  The EA will monitor and reset the Preliminary Deposit on every new vary and use it as a reference.
  
• Max Each day DD: The utmost every day drawdown. Often, the every day drawdown is 5% in most Prop Companies. I like to recommend to have some margin and configuring it to 4.5%. As soon as the EA detects 450$ loss, it’ll set off the safety choice and block any new commerce.
  
• Embody Swap and Fee: Embody Swap and Fee in your Draw Down calculation. A few of the Prop Companies require this.
• ADVANCED SETTINGS
• GV to make use of in different EA: That is the title of the International Variable created by the EA. If you’re an mql developer, you possibly can test this International Variable in your code to stop opening any new place if the draw-down threshold is reached
• Examine Frequency in Milliseconds: The frequency to test open trades in milliseconds.
• Shut Terminal When DD reached: If set to true the terminal can be closed

Easy methods to use the superior mode:

This EA must run on a chart in your account the place different EA are working. As soon as the drawdown threshold is reached, it’ll create a Temp International Variable with the title you outlined within the inputs: “ GV to make use of in different EA”, for instance GV_isDD. Examine https://www.mql5.com/en/docs/globals for extra details about international variables. In your EA you possibly can test if this variable exists, and if it’s the case you don’t take a commerce. On the finish of the vary/day, “DrawDown Limiter” will take away the International Variable permitting your EA to take trades once more

An instance so that you can take a look at this EA, is to run within the technique tester of MT5, it routinely creates random promote trades to can help you take a look at the important options. Sadly, you can not run two EA in technique tester to check the superior functionalities. 

If it’s worthwhile to have a restricted model to check by personal be happy to contact us or attain us through the assist group of this EA. 

MT4 do have couple of limitation in relation to using such EA.

1. The primary one is that you simply can not do the identical take a look at within the technique tester as for MT5, this can be a limitation in MT4 the place the OnTimer() perform is just not applied within the tester.
2. The second level which is THE MOST IMPORTANT, in MT4 the order historical past is learn out of your terminal historical past tab, so be sure you have chosen the best time-frame. That is as a result of limitation of OrdersHistoryTotal() perform in MT4, you’ll find the reference underneath: https://docs.mql4.com/buying and selling/ordershistorytotal. Nonetheless in MT5 this limitation don’t exist as we will load the historical past based mostly on a begin and finish date immediately within the EA what ever the historical past chosen within the terminal. That is accessible through the HistorySelect() perform in MT5, you’ll find the reference underneath https://www.mql5.com/en/docs/buying and selling/historyselect.

For example this limitation for you, you’ll find beneath the display screen pictures, the place the order historical past chosen at the moment’s closed trades and you’ll see within the first picture that the DrawDown limiter is calculating completely the numbers.

Whereas within the picture beneath, I modified the historical past within the terminal again to a previous day, and you’ll see that the DrawDown limiter misplaced the historical past, and the calculation is again to 0