Current Relative Drawdown
This tool for MetaTrader 5 is specifically engineered to streamline your trading operations. This Expert Advisor serves as automated trading software. It is utilized to monitor financial markets and execute trades based on predefined algorithmic rules, enabling precise position management without the need for constant manual oversight.
How to Setup and Use Current Relative Drawdown
1. Installation: Open the "File" menu, select "Open Data Folder," navigate to MQL/Experts, paste your file, and restart the terminal.
2. Activation: Drag the EA from the Navigator onto a chart, ensure "Allow live trading" is checked in the Common tab, and verify the AutoTrading button is green.
3. Optimization: Right-click your chart, choose "Expert List," click "Properties" to adjust inputs, and save your preferred setup as a set file for future use.
4. Maintenance: Regularly check the "Experts" tab in the terminal window to monitor trade logs and potential execution errors.
Frequently Asked Questions
Q: Why is my EA not opening trades? A: Check the "AutoTrading" button, ensure "Allow live trading" is enabled, and verify your broker allows automated trading on your account type.
Q: Can I run multiple EAs on one chart? A: No, each chart can only host one active EA; however, you can open multiple charts for different currency pairs to run several EAs.
Q: What does the "smiley face" icon mean? A: A smiley face in the top-right corner of the chart indicates the EA is successfully running; a frowny face means it is disabled.
Description & Settings
The DD_Relative function calculates the relative profit or loss (drawdown) of the current trading account in percentage. To do this, it uses the Current_LossOrProfit() function to get the current profit or loss of all open positions and then divides it by the current account balance obtained via the AccountInfoDouble(ACCOUNT_BALANCE) function.
After calculating the relative gain or loss in percentage, the function uses the NormalizeDouble() function to round the result to two decimal places, and then displays the result in the chart comment using the Comment() function. Finally, the function returns the result of the relative gain or loss in percentage.
The Current_LossOrProfit() function is used to calculate the current profit or loss of all open positions in the trading account. Loops through all open positions using a for loop, and for each position, checks if its magic number matches the magic number specified in the code (MAGIC) and if the symbol of the position is the same as the current symbol on the chart. If the position meets these criteria, the position's commission, swap, and current profit or loss are added to the Positionsprofit variable.
Once all the profits and losses of the positions have been added up, the function uses the NormalizeDouble() function to round the result to two decimal places, and then returns the value of the current profit or loss.
