The utility (Expert Advisor) is designed to monitor and restrain the entire drawdown or total profit, in addition to close all places after attaining the specified amounts or time, together with the ability to disable automatic Expert Advisors working in the exact same terminal.
- It may track the status of the entire account, as well as separately selected pairs.
- Works with rankings opened manually or with open Expert Advisors.
- It tracks open transactions in real time and formerly closed ones which were made after the start of observation.
- It can control the absolute and relative drawdown.
- It can send alerts when certain drawdown and profit levels are reached.
- It can close all trades and disable Expert Advisors at a specified time.
- Works on netting and hedge accounts.
Closing is performed according to the following algorithm:
- Stop Level – the stop loss level.
- Take Level – take level or 0-if the total TR is not used.
- Unit – units for measuring levels (percentages or deposit currency).
- Drawdown type – the type of drawdown being tracked (relative or absolute).
- What pairs need to control-monitoring modes (All-we observe all pairs, From the input list-only those that are in the list below).
- List of controlled pairs (exact name) – a comma-separated list of controlled pairs (the exact name of the pair with a prefix and suffix).
- Close all by time – close all at the specified time.
- Closing Time – order closing time (if Close all by time is true)
- Notify me if the drawdown will exceed – the drawdown level at which a warning message will be sent to you.
- Notify me if the profit will exceed – the profit level at which a warning message will be sent to you.
The calculation of the current drawdown takes into account the results of transactions closed after the start of control, if there were such transactions, as well as the current drawdown on open positions. When you select relative drawdown in the settings, the total stop level will be recalculated relative to the current balance if the balance increases. The operation of Expert Advisors installed on pairs that were not added to the monitoring is not disrupted. If the account has multi-currency Expert Advisors and you want to control them, then you need to add to the monitoring all the pairs for which these Expert Advisors are trading and on which they are installed themselves, or simply select the All mode.
Just drop on any chart, change the input settings to suit your requirements, and when you’re ready to start monitoring, click the Reset start pointbutton . The utility will start tracking transactions starting from this moment.
If you want to reset the initial point, you can simply press Reset start point at any time.