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Symbol Drawdown Manager

60 USD

Demo downloaded: 2

Published: 26 July 2024

Current version: 1.3

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Symbol Drawdown Manager

Utilities
Konstantinos Kalaitzidis
Version: 1.3
Updated: 16 August 2024
Activations: 20

Symbol Drawdown Protector is a utility tool used to manage your desired Max Daily Drawdown only on a specific trading symbol. It's like a %-based stop loss, but it's functioning as a revenge protector tool too.

In the era of prop firms and challenges, it's highly important to be aware of daily drawdown limits. It's an effective EA that is simple to use for Equity Drawdown Management and prevention of revenge trading.

Input parameters:

Daily % Drawdown - Here you set the Maximum Daily Drawdown in 0.0% format (i.e. 1.5%) that you want as a limit.
# Hours to block trading? - Here, you set how many hours you want the EA to block new trades, after the Max % Drawdown is breached. Value must be >0.
# Minutes to block trading? - Here, you set how many minutes you want the EA to block new trades, after the Max % Drawdown is breached. Value must be >0. Important: Either the # Hours or the # Minutes MUST have a value of zero (0)!

Send Mobile Notification: If "true", the EA will send you notifications through your Mobile MT5 app. Make sure you've connected it with your computer's terminal. (I have attached a screenshot of a test notification, for illustration purposes)
Alert on Terminal: If "true", the EA will send alerts in a new window when new patterns form, or when there's an error with a trade order.
Print on Journal: If "true", the EA will print in the Journal tab of the terminal. It's the lowest form of communication between the user and the EA.

Make sure you have enabled "Algo trading" from both "Common" tab on the EA settings, AND from the top side of the MT5 terminal. (The EA on the top right of the chart should have a blue hat, not grey)

The "Demo Version" can't work on MT5 backtesting simulation, only in live markets. That's true for most of the Utility EAs out there, and it's not a problem of this EA.

Please feel free to contact me through my MQL5 profile (by clicking on my name at the top of this page) if you have any question, issue, or a request about an additional feature. Trade safely!

You can check my Website for the full list of Metatrader tools I provide.

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Drawdown Protector is a utility tool used to manage your desired Max Daily Drawdown. In the era of prop firms and challenges, it's highly important to be aware of daily drawdown limits. It's an effective EA that is simple to use for Equity Drawdown Management and prevention of revenge trading. Input parameters: How many Hours to block trading? - Here, you set how many hours you want the EA to block new trades, after the Daily % Drawdown is breached. Value must be >0. Block trading until the n

50 USD

The "Scalping Scale in" is a utility tool designed for scalpers who want to scale in an initial position at fixed distances without worrying about the S/L and T/P placement, because every second counts when scalping. How it works: You set your desired values in the inputs tab of the EA, and more specifically what Risk-to-Reward you want the T/P to be placed, how wide you want your S/L (in pips) - which also is the distance of the next next stop order (scale in position). You manually click Buy

40 USD

The "Candlestick Patterns Trade Panel" is the ultimate tool for traders who trade with Candlesticks Patterns and want the process of identifying a pattern and executing a trade, to be quick and effortless . With various but key input options, this tool suits to people who want to automate their candlesticks patterns manual trading, or assist them to take trades manually but faster than before, or simply inform them with the patterns they want to see. Let's go through the Trade Panel that appears

35 USD

Anti Grid Position Protector is a utility tool designed to protect you from the temptation of adding to a losing position in a hope of a drawdown recovery, or trying to hedge when you're not intended too. --------------------------Inputs--------------------------- Allow Hedging on Losing Positions? - It's a true/false input (double click to switch its value) which allows/disallows opening a trade (either pending order or market execution) in the opposite direction on an existing losing position

40 USD

News Filter Protector is designed to protect your from having open positions/orders on news announcements. In today's world where news can cause unpredictable volatility and extended losses, such a tool is very helpful for your peace of mind since you don't need to check the calendar ever again! Let's go through the Inputs of the EA to get an understanding of how each parameter works: --------------------------------News Settings-------------------------------- Currencies of the News to Filter

45 USD

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Version 1.3 2024.08.16

Added an input variable named "Magic number to track a specific EA only". You type the MagicNumber that is assigned to the trades by a different EA so that it ONLY considers these trades for the max drawdown calculations, even if the symbol is the same. If you leave the value to "0", it'll not look for any Magic Number and will work as the previous version.

Version 1.2 2024.07.30

Added a modifiable display text on the chart, displaying the Current Drawdown % of the symbol's sum PnL.