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Drawdown

This tag is associated with 2 posts

Drawdown Percent Close EA

Posted by Michael ⋅ 2012-05-31 ⋅ 10 Comments

This is a very simple trade management EA that will close all your Open Orders (or both Open and Pending Orders) when your drawdown against balance exceeds a set percentage limit. E.g. Balance = $10,000 and “DrawdownPercent” is set at 2.0, if floating P&L is greater than -$200.00, all Orders will be closed. A simple … Continue reading →

Maximum Relative Drawdown in MT4

Posted by Michael ⋅ 2012-01-25 ⋅ Leave a comment

This post is split into 3 parts. Part 1 explains how MT4 records Relative Drawdown, which is not well understood. Part 2 will show my code to calculate Relative Drawdown against Balance just prior to a trade, which I inherently find much more useful. Part 3 shows the mql4 code for calculating and displaying this … Continue reading →