Market / MetaTrader 5 / Utilities /

Drawdown Limiter Advanced

44 USD

Demo downloaded: 17

Published: 11 August 2023

Current version: 1.6

Drawdown Limiter Advanced

Utilities
Riccardo Di Giacomo
Version: 1.6
Updated: 2 July 2024
Activations: 20

Whether you are a trader that uses Expert Advisors (EA) or you trade manually, if you decided to obtain a funded account and you are going to start an evaluation phase with a Prop Firm (like FTMO, MyForexFunds, FundedNext and all the other ones available), you will surely need to pay close attention to put a daily drawdown limit.

That seems easy, at least in words, but dealing with the rigid rules of a Proprietary Firm leave no space for mistakes, distractions, emotional blindness or execution delays.

Right for this, the best way to manage your drawdown limit is using a program that is going to monitor your drawdown level automatically at all times and take the right actions to ensure you don't break any rules throughout the whole process of getting funded and then managing a funded account reducing the risk of losing it.

For you, the Drawdown Limiter - Advanced will:

Monitor the Daily Drawdown
Monitor the Overall Drawdown
Close all the positions once your drawdown limit is reached
Delete all the pending orders once your drawdown limit is reached
Advise you by e-mail (if you want to)
Prevent the breach of max daily drawdown rule when closing the day with realized profit but floating losses that would overcome the max daily drawdown of the next day.
Monitor the Balance / Equity a the start of a new range and the current level of it
Monitor the Realized and Unrealized Profits and Losses for the day measured in percentage and account currency
NEW: High Impact News Release Filter

The graphic interface is very easy to understand and it show more than the essential information.

You can decide what to see by clicking the button to show more or show less.

PLEASE, consult the User Guide before relying on the Expert Advisor.

more...

944

Alexandre Henrique Vassoler 2024.07.04 22:40 #

Excellent product for proper asset management in prop firms. Riccardo offered great support and even implemented improvements I suggested.

300

Ehsan 2024.05.03 23:07 #

Very nice and prop firm conform product. Riccardo is extremely supportive and friendly. Can recommend this Tool !!

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Filter:

944

Alexandre Henrique Vassoler 2024.07.04 22:40 #

Excellent product for proper asset management in prop firms. Riccardo offered great support and even implemented improvements I suggested.

300

Ehsan 2024.05.03 23:07 #

Very nice and prop firm conform product. Riccardo is extremely supportive and friendly. Can recommend this Tool !!

Version 1.6 2024.07.02

Added "News FIlter" Function.

It allows to avoid opening new positions in the range of minutes before and after an high impact news release.

Example:
You input 5 as value for the News FIlter Minutes parameter.
Trading will be disabled 5 minutes before the news release and it will re-enabled 5 minutes after it.

NOTE:
The "DisableEnableAlgoTrading" script new version is required.
Text me to receive it for free.

Version 1.5 2023.10.06

Customizable Sizes Upgrade

Version 1.4 2023.09.22

Daily Drawdown Reset Function Update

Version 1.3 2023.09.04

Fully Customizable Colors

Version 1.2 2023.08.30

Update on drawdown reset at specific time

Version 1.1 2023.08.30

Fixed drawdown reset on daily bar start