Category:
Activation limits:
Hardware 2
Real 5
Demo 5
Published: 24.12.2020

EA Risk Manager 

The Risk Manager Expert Advisor for MT4 is a very important and, in my opinion, a necessary program for every trader.

With this advisor, you can manage the total on your trading account. Control can be carried out both in the marginal monetary equivalent of US dollars of maximum losses on the account, and in percentage.

For the advisor to work, simply attach it to the currency pair chart and set the maximum allowable risk in the deposit currency or in% of the current balance.

Advisor functions

The following parameters can be configured in the EA:

Description of settings

Profit percentage – the size of the maximum profit for all open positions, after which the adviser will record the profit and close the order.
 
Loss percentage – the size of the maximum loss for all open positions, after reaching which the adviser will fix the loss and close the order.
 
Profit limit in $ – the limit size of the maximum profit in the currency of your deposit on the achievement of which the adviser will record the profit and close the orders.
 
Loss limit in $ – the marginal amount of the maximum loss in the currency of your deposit on the achievement of which the adviser will fix the loss and close the order.
 
Control closing by percentage true / false – if true, the expert will control positions only by% balance change, controls the indicator Profit / Loss percentage.
 
Control closing in $ true / false – if true is selected, the adviser will control the positions by the indicators Loss / Profit limit in $, respectively, the control will be carried out in the deposit currency.
 

Close market orders true / false – if true is selected, orders are deleted if the risk is exceeded.

Delete pending orders true / false – if true is selected, pending orders are deleted if the risk is exceeded.

 
Close All Charts true / false – if true is selected, if you exceed the risk, all the charts in the terminal are closed, which indicates that it is time to pause the trade.
 
Show panel true / false – show / hide the information panel.
 
Trading Account Number – the account number on which the panel should work, if 0, then it works on any account.
 
Use sound signal true / false – use sound notification of risk management exceeding.
 
Allowable Slippage – allowable slippage.
 
Number of closing attempts – the number of attempts to close positions.
 

Pause after error in seconds – pause before a new attempt to close an order.