UTILITY EA 

1) The goal of the EA is to protect the account equity at all times whenever its enabled. It will monitor all trades in the background. It will not start any trades by itself. 

2) Since I use multiple other EA’s, I need a separate EA that monitors my account equity

3) It needs to calculate the Equity of the account and not the balance.

4) Starting equity the EA will be calculating and monitoring is always the current equity value whenever EA is turned off.

5) Whenever account equity falls below % level specified in settings, this EA will close all open and pending trades placed by all other EA’s and also turn autotrading off for all EA’s. It will leave the charts open and MT4 terminal open. Please it is important that all charts remain oprn and MT4 terminal remain open. This EA should just close all trades and turn off autotrader.

6) Whenever account equity rises above % level specified in the settings, the EA will close all open trades and pending trades placed by other EA’s and also turn autotrading off for all EA’s. Charts will be left open and MT4 terminal left open

7) Next is Trailing profits across all EA’s.

8) Trailing profit start level. This is the level at which EA starts to trail profits based on starting equity across entire account.

9) Trail profit by: This is the amount of trailing profit. Example we set (Trailing profit start level at 2%) and then set (Trail profit by 1%) here is what happens; when accounts reaches 2% in profits, it will start trailing profits by 1%. So if account equity falls back down by 1% down to 1%, it closes out all trades and turns autotrading off. Another example. We set (Trailing profit start level at 3%) and then set (Trail profit by 1.0%) here is what happens; when account equity reaches 3%, it starts to trail by 1.0%. If the equity falls back down by 1% to 2%, it closes all trades and turns off autotrader. If account equity increases some more to 5% and then drops by 1% to 4%, then it will turn off autotrader and close all trades at 4% equity

10) If the Trail profits is disabled, then EA will just go by only Equity profit target and Equity max loss %. But if Trail profits is enabled, EA will still go by Equity max loss but instead of Equity profit target, it will now trail the profits

Below are the settings

1) Equity Profit Target: %____ (value is % of equity that when equity reaches this value, it closes all trades and turns off auto trader)

2) Equity Max Loss: %____ (value is % of equity that when equity falls below this level, it closes all trades and turns off auto trader)

3) Enable Trailing Profits: Yes/No

4) Trailing Profit Start Level: %_____

5) Trail Profits by: %____ (see description above)