Stop Out Monitor MT4

This code is designed to monitor the margin call level of a forex trading account and alert the trader when the account is close to a stop out or margin call. It retrieves real-time data for each currency pair and calculates the number of pips remaining until a margin call. If the number of pips remaining is less than or equal to 10.0, an alert or notification is triggered. Additionally, the code includes a function to implement necessary actions to prevent a stop out or margin call, such as closing losing positions, adding funds to the account, or adjusting risk management settings.

How it Works

1. The GetPipsRemaining function is called to retrieve real-time data for each currency pair. This function takes a currency pair as a parameter and returns the number of pips remaining based on the fetched data.

2. The CalculatePipsUntilMarginCall function calculates the number of pips remaining until a margin call. It takes the margin call level for the account and the current account balance as parameters and returns the calculated pips remaining.

3. The AlertStopOutOrMarginCall function is called to notify the trader when the account is close to a stop out or margin call. It takes the number of pips remaining as a parameter and triggers an alert or notification if the pips remaining is less than or equal to 10.0.

4. The PreventStopOutOrMarginCall function is called to implement necessary actions to prevent a stop out or margin call. This function should be customized by the trader to include actions such as closing losing positions, adding funds to the account, or adjusting risk management settings.

5. In the OnInit function, real-time data is retrieved for each currency pair using the GetPipsRemaining function. The number of pips remaining until a margin call is calculated using the CalculatePipsUntilMarginCall function. The trader is alerted if the account is close to a stop out or margin call using the AlertStopOutOrMarginCall function. Finally, if the number of pips remaining until a margin call is less than or equal to 10.0, the necessary actions to prevent a stop out or margin call are executed by calling the PreventStopOutOrMarginCall function.

Please note that this code is provided as a sample and Forex Robot Easy is not the official developer of this product. To find the official developer of this product, please refer to the MQL5 platform.

Product Description

The Stop Out Monitor MT4 is a powerful tool for forex traders to monitor their margin call level and prevent stop outs. By retrieving real-time data for each currency pair and calculating the number of pips remaining until a margin call, this tool alerts traders when their account is close to a stop out or margin call. With customizable actions to prevent a stop out or margin call, such as closing losing positions, adding funds to the account, or adjusting risk management settings, traders can enhance their forex trading health and minimize the risk of significant losses.

For detailed reviews and trading results of this product, please visit Forex Robot Easy - Stop Out Monitor MT4 Review. Please note that Forex Robot Easy is not the official developer of this product and only provides sample code that can work as described in the product. To find the official developer of this product, please use the MQL5 platform.