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DrawDown For Prop Firm

The "DrawDown For Prop Firm" is designed to manage drawdown levels for prop firm challenges using the MetaTrader 4 (MT4) platform. The EA aims to monitor the drawdown of the trading account and take necessary actions when the drawdown exceeds a specified trigger percentage.

Example Scenario:

Assume you have a trading account with an opening balance of $5000. You decide to use the "DrawDown For Prop Firm" EA to manage your drawdown, and you set the drawdown trigger percentage to 4%.

EA Configuration:

  • Opening Balance : $5000
  • Drawdown Trigger Percentage : 4%

Monitoring and Actions:

  1. Initialization:

    • The EA initializes with your provided settings, including the opening balance of $5000 and the drawdown trigger of 4%.
  2. Drawdown Calculation:

    • As you execute trades, the EA constantly monitors the account's drawdown by calculating the difference between the opening balance and the current equity.
  3. Trigger Threshold:

    • Since you set the drawdown trigger to 4%, the EA will take action when the calculated drawdown percentage reaches or exceeds 4%.
  4. Example Drawdown Scenario:

    • Suppose, after executing some trades, your current equity drops to $4800. The drawdown would be $5000 (opening balance) - $4800 (current equity) = $200.
  5. Drawdown Trigger Action:

    • As the drawdown exceeds the 4% threshold, which is $200 (4% of $5000), the EA will trigger and take action.
  6. EA Actions:

    • The EA will automatically close all open positions to prevent further losses.
    • If configured (e_b_DeletePendingToo set to True), the EA will also delete any pending orders.

User's Role:

  • Manual Drawdown Entry:
    • Before running the EA, you, as the user, need to manually enter the drawdown trigger percentage (4% in this example) through the EA settings.

Benefits:

  • Risk Management:

    • The EA helps you manage risk by closing positions when the drawdown reaches a predefined threshold, in this case, 4%.
  • Account Protection:

    • By setting a drawdown limit, the EA acts as a safeguard, preventing excessive losses and protecting your prop firm account from breaching predetermined limits.
  • User Control:

    • The manual entry of the drawdown limit provides you with control over the risk management strategy, allowing you to adapt the EA to your specific risk tolerance.

Installation

  1. Download the EA: Obtain the compiled (.ex4) file for the "DrawDown For Prop Firm" EA.

  2. Copy to Expert Folder: Place the .ex4 file into the "Experts" folder of your MetaTrader 4 platform. This folder is usually located within the root directory of your MT4 installation.

    Example Path: C:\Program Files\MetaTrader 4\experts

Settings and Features

Settings Section

Opening Balance 

  • Default: 10,000.0
  • Description: The opening balance of the trading day. This value needs to be set by the user for the EA to function correctly.

Drawdown Trigger Percentage 

  • Default: 2.0
  • Description: The percentage drawdown trigger. If the current drawdown percentage exceeds this value, the EA will take necessary actions.

Maximum Slippage in Points 

  • Default: 30
  • Description: The maximum allowed slippage in points for closing positions.

Delete Pending Orders on Trigger

  • Default: False
  • Description: If set to True, the EA will delete all pending orders when the drawdown trigger is reached.

Display Section

Top Padding 

  • Default: 0
  • Description: Adjusts the vertical padding at the top of the display in the MT4 chart.

Left Padding 

  • Default: 0
  • Description: Adjusts the horizontal padding on the left side of the display in the MT4 chart.

Usage

  1. Initialization: The EA initializes the account currency, opening balance, and drawdown trigger percentage during the OnInit() function.

  2. Drawdown Monitoring: On every tick, the EA monitors the account's drawdown by calculating the difference between the opening balance and the current equity.

  3. Actions on Drawdown Trigger: If the calculated drawdown percentage exceeds the specified trigger percentage, the EA will close all positions and, if configured, delete pending orders.

  4. Display: The EA displays relevant information, including balance, equity, drawdown trigger, current drawdown, drawdown trigger percentage, and current drawdown percentage in the MT4 chart.

Additional Notes

  • Opening Balance: The user must set the opening balance for each trading day through the EA settings.

  • Website Link: For more information or support, visit www.meta4indicators.com.

  • Version: Current version is 1.5.

Disclaimer

Trading involves risk, and it is recommended to thoroughly understand the EA's functionality before using it in live trading. The EA's behavior can be adjusted through the provided settings to align with specific trading preferences and risk tolerance.


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« Trade Sync » — Really fast copying and precise synchronization of trades. Simple installation and configuration of the application within 5 seconds allows you to copy trades between different MetaTrader terminals installed on one Windows PC or Windows VPS at maximum speed. «Trade Sync» contains a large number of options for customizing the application to your specific needs and allows you to cope with even complex user tasks. Separate use: Trade Sync MT4 - allows you to copy (Мt4 > Мt4), Trade
EA Hedger
Sergej Chukhista
4.67 (3)
Você comprou um consultor de negociação, assinou um sinal ou está negociando manualmente? Não se esqueça da gestão de riscos. EA Hedger   é um utilitário de negociação profissional com muitas configurações que permite gerenciar riscos usando cobertura. Hedging é uma técnica de negociação que envolve a abertura de posições opostas às posições já abertas. Com a ajuda da cobertura, a posição pode ser bloqueada total ou parcialmente (travada). Por que é lucrativo comprar este produto: Confiabilid
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Peter Andrew Thomas
5 (3)
GRID TRADING - Layer Master tool kit is the ultimate, easy to use trading toolkit makes it simple to layer grids of Orders over any entry level. This toolkit will make it simple and fast to Open / Enter and Manage your grid trades on MT4. Every function is simple - but clicking and dragging the order zone - you define an area you want your orders, then you can quickly drag the SL and TP levels to where you want them. Hit one button and your orders are sent!!!  Features: It is capable to send h
MT4 To Telegram Sender
Levi Dane Benjamin
3.5 (4)
Envie sinais totalmente personalizáveis do MT4 para o Telegram e torne-se um Provedor de Sinais! Este produto é apresentado em uma interface gráfica fácil de usar e visualmente atraente. Personalize suas configurações e comece a usar o produto em minutos! Guia do Usuário + Demonstração  | Versão MT5  | Versão Discord Se deseja experimentar uma demonstração, por favor, consulte o Guia do Usuário. O Enviador de MT4 para o Telegram NÃO funciona no testador de estratégia. Recursos do MT4 para
Smart Copy Local MT4
Kyra Nickaline Watson-gordon
5 (7)
Smart Copy is an Easy-to-Use EA that supports Multi Copying Metatrader4 and Metatrader5 and Local/Remote Copying. (Remote Version is coming soon) Free version is available on Smart Copy Local Free MT4 Specifications :     Real Time, Multi Terminal - Multi Account - MT4/MT5 trade copying     Copy from netting to hedge and hedge to netting is supported.     Fast and instant copy     All settings are input visually.     Easy modifying symbol names, prefix, suffix     Enable/Disable co
The product will copy all  Discord  signal   to MT4   ( which you are member  ) , also it can work as remote copier.  Easy to set up. Work with almost signal formats, support to translate other language to English Work with multi channel, multi MT4. Work with Image signal. Copy order instant, auto detect symbol. Work as remote copier: with signal have ticket number, it will copy exactly via ticket number. How to setup and guide: Let read all details about setup and download Discord To MetaTrade
Ultimate Trade Copier
BLAKE STEVEN RODGER
5 (1)
This trade copy utility allows you to instantly and seamlessly replicate and synchronize unlimited orders from multiple master accounts to multiple slave accounts on your local machine. You can create custom channels (or portfolios) with advanced filtering capabilities to copy from multiple master accounts to multiple slave accounts. Moreover, you can tailor these channels with a range of lot sizing and trade condition options to ensure that copied trades outperform the original source. You can
Copiadora->Interação de interface ->>>>Recomendado para uso em computadores Windows ou VPS Windows Funções básicas: A velocidade de interação de copy trading é inferior a 0,5s 95% dos símbolos em diferentes plataformas (casos especiais, como sufixos diferentes) são correspondidos automaticamente, basicamente nenhuma configuração manual é necessária 4 modos de cálculo de lote, que podem ser definidos de acordo com diferentes fontes de sinal Múltiplas plataformas, múltiplas fontes de sinal, múlti
This tool will allow you to export MetaTrader indicators data (Buffers) for any financial instrument present in your MetaTrader 4. You can download multiple Symbols and Timeframes in the same csv file. Also, you can schedule the frequency of download (every minute, 5 minutes, 60 minutes, etc.). No need to open a lot of charts in order to get the last data, the tool will download the data directly. The CSV File will be stored in the folder:   \MQL4\Files . How it works Report Tab : Select
Drawdown Protector MT4
Konstantinos Kalaitzidis
O protetor de rebaixamento é usado para gerenciar o rebaixamento diário máximo desejado. É uma ferramenta altamente valiosa para traders, especialmente para traders de prop firmes. Você precisa ter cuidado com os limites de rebaixamento.    É um EA eficaz e simples de usar para fins de gerenciamento de levantamento de capital. Funciona bloqueando novas negociações - e fechando negociações existentes, quando o Patrimônio Flutuante (não o Saldo) excede o limite de Perda Diária que você definiu. A
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Welcome to Josmellon GOLD EA V5, an automated trading solution designed for XAUUSD (Gold) on MetaTrader 4. It uses automation and a sophisticated strategy tailored for the dynamic Gold market. Overview : Crafted for Gold trading to capitalize on its liquidity and movements. Relies on two Triangular Moving Average-based indicators for trade decisions. Key Features: Automated Execution: Executes precise and timely orders in the volatile Gold market. Indicator-Based Signals: Rel ies on two selecte
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