MT5-Drawdown Monitor

Drawdown Monitor EA

Risk management made easy. Balance and equity monitoring, closing positions, deleting orders, notifications by email.

Security for Prop Trading accounts.

This Expert Advisor constantly monitors the account balance and equity.

If the maximum unrealized overall drawdown (based on an initial account balance) is reached, only a notification is sent via email.
When the maximum daily drawdown is reached, all open positions are closed, open orders are deleted and a notification is sent via email. 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.
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 third screenshot.

In addition to the server date and time, the following values ​​are displayed:

Today: daily High / daily start value / X.XX% DD: This value shows the daily loss based on the maximum value of the capital reached on that day. This value is reset daily.

Balance: Balance / initial Balance / X.XX% DD: This value shows the realized loss, based on an adjustable, initial account balance.

Equity: Equity / initial Balance / X.XX% DD: This value shows the

unrealized and realized loss, based on an adjustable, initial account balance.

The equity values ​​are NOT calculated retrospectively, but show the development since the start. After the value has been reset to the set time, the value is calculated correctly (so after the first night run).

The following settings can be made:

• >>> DAILY DRAWDOWN <<<
• Max. Daily DrawDown: Maximum daily loss
• Close all Positions when daily drawdown is reached: When true: All Positions will be closed when the daily max drawdown is reached.
• Delete all Orders when daily drawdown is reached: When true: All Orders will be deleted when the daily max drawdown is reached.
• Reset Hour (Servertime): Time (hours), when the max daily loss ist reset.
• Reset Min (Servertime): Time (minutes), when the max daily loss ist reset.
• >>> OVERALL DRAWDOWN <<<
• Max. Overall DrawDown: Maximum overall loss
• Initial Balance: initial balance
• >>> TEXT SETTINGS <<<
• Change Background/Candle Color: When true: Changes the background color/candle color on startup
• Backgroungcolor: Backgroundcolor
• Textcolor: Textcolor (without warning)
• Textcolor negative: Textcolor (negative value)
• Textcolor Limit reached: Textcolor (Limit exceed)
• Fontsize: Fontsize (Line spacing is adjusted automatically)
• >>> MAIL SETTINGS <<<
• MessageText (e.g. Accountname): Addition for the email subject

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