Market / MetaTrader 5 / Utilities /

Drawdown Monitor

FREE

Published: 13 August 2023

Current version: 1.13

Drawdown Monitor

Utilities
Benjamin Schneider
Version: 1.13
Updated: 29 January 2024

Drawdown Monitor EA

Risk management made easy. Balance and equity monitoring, closing positions, deleting orders, notifications by email and/or push on mt5-mobile.

Security for your Money or Prop Trading accounts.

This Expert Advisor constantly monitors the account balance and equity.

If the maximum daily drawdown is reached, all open positions will be closed, open orders will be deleted, a notification will be sent by email/push.

In addition, the EA creates a global variable, which ensures that all EAs offered by me on the MQL5 market do not open new positions. This value is reset daily at an adjustable time and the global variable is deleted.

Withdrawals are now no longer calculated as a drawdown. There will be a separate announcement about this (shown on second Screenshot).

If the maximum unrealized overall drawdown is reached, only a notification is sent via email/push.

The EA works optimally on EUR/USD H1 chart. So that everything is easy to read, the chart properties are set up on init as shown in the last screenshot.

more...

255

Mehdi Banazadeh 2024.07.26 11:30 #

Very good EA, even better than some similar paid ones. Thank you Benjamin!

I am wondering if you can add the option of setting DD in currency number in addition to DD%. For example if the DD reaches to $200 EA sends a notification or does some protective actions like closing all positions.

555

Todo Muhamit Schaft 2023.11.29 17:35 #

Great protection. I guess similar to paid alternatives. Pay attention that it will stop any open orders, but not remove the ea. So you have to remove the ea's yourself as trades can continue. When you are using it for a prop account this is something to be aware of. Developer is open to improvements. He fixed a bug with reloading the ea quickly. Thanks for this ea!

206

Gryffn10 2023.09.16 11:52 #

This is very good... Thank you! Is it possible that you include the highest watermark daily drawdown percent? that if we look at the screen it will show up for that day the highest % DD...

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Filter:

255

Mehdi Banazadeh 2024.07.26 11:30 #

Very good EA, even better than some similar paid ones. Thank you Benjamin!

Leon Nyateka 2024.03.17 16:27 #

downloading fails

555

Todo Muhamit Schaft 2023.11.29 17:35 #

206

Gryffn10 2023.09.16 11:52 #

This is very good... Thank you! Is it possible that you include the highest watermark daily drawdown percent? that if we look at the screen it will show up for that day the highest % DD...

359

Rafael Alfredo Capucho 2023.08.29 21:51 #

A pretty new EA, but the developer is commited to its enhancements. gonna be a super EA soon!

318

VinS 2023.08.25 14:38 #

Exactly what I was looking for to protect my capital from unexpected volatility. Thank you very much Benjamin for offering it for free and for the improvements.

Version 1.13 2024.01.29

Pushnotifications added (must be activated in mt5-settings).

Version 1.12 2023.11.17

Withdrawals are no longer calculated as a drawdown.
There will be a separate announcement about this.

Version 1.11 2023.11.16

small error correction

Version 1.10 2023.11.13

Daily low and high values are shown

Version 1.8 2023.09.04

New function:
If the font size is changed, the line spacing is automatically adjusted.
It can be set separately whether positions should be closed and/or orders deleted when the daily maximum loss is reached.

Version 1.7 2023.08.30

A small bug has been fixed

Version 1.6 2023.08.29

Function added: Should Positions be closed/Orders deleted when daily drawdown is rached.

Version 1.5 2023.08.25

Fontsize adjustable

Version 1.4 2023.08.25

Changed the display/calculation logic for daily loss. The first value now shows the maximum value of the day, the second value the start value of the day (this is reset daily at the adjustable time.

Version 1.3 2023.08.16

Fixes a bug in the calculation of the daily maximum equity

Version 1.2 2023.08.15

Option to turn off color changes (background/candles).

Version 1.1 2023.08.15

V1.01: - Other values are displayed: accound balance, equity, daily equity high.
- The chartview is automatically adjusted on init.