Hey everyone,
New to babypips but not really.
In short, I was wondering if anyone has run into an indicator that tracks and documents max dd (in pips) of a chart. I know myfxbook has this tracking feature but I have found it to be uncomfortably inaccurate.
Thanks in advance!
Carbon
Do you mean max overdrawn for an open (or recently closed) position? Draw down of a chart, I don’t understand what you mean.
Max drawdown in pips of any combination of open trades at any given time. If I was short on say two separate positions on Eur/usd, it would track do define the max dd those two trades were at in any given time. If one was 5 pips down at one point and at the exact same time the other was 10 down… 15 dd
you can write an indicator to do this. It would take the account equity before you open your positions (or when initiated) and then report the negative difference in equity at any given time. Also, if the negative difference in equity exceeds the previous lowest value, then it would report the current negative difference as the highest draw down.
I would take a look at coding in MQL4. it’s not that difficult and gives you more options for your trading. I will write a simple EA to do what you need and send it to you by PM.
Drawdown.zip (602 Bytes)
This will show you the dawdown in terms of PnL. It will show you these values from the moment you load it:
Also, you can set to receive an email notice if your drawdown exceeds a certain value.
Thank you so much. Is the drawdown shown in total pips per chart? Thanks again!
I will play with it tonight.