RiskMonitorEAFree is a trading and analytical risk (potential loss size) controller. The product is a partially limited version of RiskMonitorEA. The limitations are as follows:

1. You can monitor up to four open positions simultaneously;
2. Risk level is always 5.00%.

The Expert Advisor consists of two blocks.

The first one is an information-analytical part displaying data on the potential losses of all open positions.

Information about the risks is displayed in the separate Panel. The deposit currency is taken into account when calculating the risk.

• The first column (Symbol) lists the symbols, at which positions are opened.
• The second column (Risk) displays the absolute and relative risk level (balance share).
• The third column (Post Balance) – balance value if a position is to be closed with a loss.
• The line below (Risk Total) displays the absolute and relative value of the gross risk level (balance share). 

The values in Risk column can be displayed in different colors. The color depends on how the stop value corresponds with the normal one. The detailed data is provided in the Table of user parameters.

The second block contains trading functions used for full or partial closing of positions, in case their losses exceed the specified level (% of the balance).

 

Custom Parameters

Custom parameters are divided into 4 groups:

• Risk Control
• General
• Panel
• Risk colors

Risk Control group includes the parameters dealing with the active control of the risk level. 

• "Risk norm,%" parameter sets allowable risk level in percentage of the balance.
• "To control risk?" parameter enables or disables the trade block reducing the potential loss volume. If enabled, the potential loss is automatically reduced only for positions, at which stop loss is placed, when the specified risk level is exceeded.
• "Cut mode" parameter defines the mode of reducing the potential loss. There are 2 mode types: 1) "Cut volume" – reducing trading volume; 2) "Cut stop loss" – reducing stop loss value.

General group includes the parameters dealing with trading actions. They can be activated in two cases: 1) the trading block is enabled in the previous group; 2) the allowable risk level has been exceeded leading to position being closed partially or fully.

• "Magic" parameter provides the Expert Advisor with a unique number.
• "Trade attempts" parameter sets the number of attempts to perform a trade operation.
• "Trade pause,msec" parameter sets trade pause duration in milliseconds.
• "Slippage,pips" parameter defines slippage in points.
• "Slippage,pips" parameter defines slippage in points.

Panel group describes parameters dealing with the Panel displaying risk data.

• "Sorting mode" parameter sets symbol sorting mode in the panel. 3 types are available: 1) No sorting; 2) Sorting by symbol; 3) Sorting by risk.
• "To consider swaps?" parameter considers swaps when calculating the risk.
• "Event mode" parameter is needed for Panel data update mode. 3 modes are available: 1) On tick – data is updated when a new tick arrives; 2) On timer – data is updated when the timer is activated; 3) On trade – data is updated when the new trade event arrives.
• "Timer period,sec" parameter sets timer's periodicity in seconds.
• "Horizontal offset" parameter – horizontal indent.
• Vertical offset parameter – vertical indent.
• "Font size" parameter – font size (small, medium, big).
• "Color" parameter – Panel color.
• "Color for "Symbol"" parameter – Symbol column name color.
• "Color for symbols" parameter – symbol name color.
• "Color for "Risk"" parameter – Risk column name color.
• "Color for balance" parameter – color of balance entries.
• "Color for dot-lines" parameter – dotted line color.

Risk colors group describes parameters defining colors for various risk groups. 

• "Unlimited risk" parameter – unlimited risk color (no stop loss). 
• "Greater risk" parameter – color for the risk exceeding the normal value (Risk norm,%). 
• "Normal risk" parameter – color for the risk equal to the normal one.
• "Smaller risk" parameter – color for the risk lower than the normal value.
• "Zero risk" parameter – zero risk (break-even) color.
• "Positive risk" parameter – positive risk color.

 Note: the Expert Advisor works only in real trading mode (release).