Don't want to risk or loose your personal trading account or prop trading firm account because of a simple Margin Call or exceeded Loss Limit?
Then this Utility Expert Advisor is the solution for you!
This Expert Advisor monitors your account Equity or Balance or even both!
If the Equity and/ or Balance fall under your defined stop limits, the EA closes all of your positions and keeps you so on track.
Options and Variables:
Monitored Values: Choose which values should get monitored
Equity: if your account Equity falls below your Equity Liquidation Level --> all Positions get closed
Balance: if your account Balance falls below your Balance Liquidation Level --> all Positions get closed
Equity and Balance: if your account Equity and/ or Balance fall below your Equity and Balance Liquidation Level --> all Positions get closed
Offset: Choose if you want to use a Offset which gets added to your Liquidation Limits
No Offset: the Liquidation Limit gets used directly (Liquidation Limit 990 = Liquidation Limit 990)
Percentage Offset: the Liquidation Limit gets multiplied by a percentage factor (Note that 0 = the normal Liquidation Limit) (one percent over the normal Liquidation Price would be 1 entered in the OffsetValue)
Absolute Offset: the Liquidation Limit gets added by a absolute value (Liquidation Limit 990 + Absolute Offset 10 = Liquidation Limit: 1000)
OffsetValue: the value which gets used, if you use an offset
(No Offset: value entered as OffsetValue doesn't matter; Percentage Offset: 100% Limit is 0 entered as OffsetValue, 101% would be 1 entered as Offset Value;
AbsoluteOffset: Limit gets added by this Value, if you have a OffsetValue: 100 and Liquidation Limit 1000 your new Liquidation Limit would be 1100)
Equity Liquidation Limit: when the Account Equity falls below this Limit --> all Positions get closed
Balance Liquidation Limit: when the Account Balance falls below this Limit --> all Positions get closed
Note that nearly every broker has latency and depending on your position/s takes spread!
