PZ Risk Management Indicator
MT4Also Available for MT5PZ Risk Management Indicator for MT4 monitors the forex trading account. Essential for every retail forex trader to monitor drawdown and leverage.
Description
The PZ risk management indicator for MT4 is an account monitoring tool essential for retail forex traders. It helps forex traders to monitor all the open trades and displays the exposure, floating points, leverage in use and the drawdown. Moreover, the indicator monitors the account on every tick.
As an account monitoring tool, the indicator has a simple display which is helpful for both new and advanced forex traders.
PZ Risk Management Indicator For MT4 Application
The above GBPAUD M15 price chart shows the PZ risk management indicator for MT4 in action. The indicator shows the account balance, floating point, leverage in use and the drawdown of the account. However, traders should note that the leverage used is the ratio between the equity and total market exposure of your account.
Mainly the indicator provides a caution or danger alert. The indicator alerts the trader if the leverage or drawdown moves beyond the caution level or dangerous level by changing the text color.
Moreover, the indicator displays the exposure per currency with number of lots traded per buy or sell side. Similarly, the indicator shows the number of trades, exposure in number of sell lots and number of buy lots per currency pair.
So, the display helps the forex trader to avoid over exposure per currency and currency pair as well.
Conclusion
To summarize, the PZ risk management indicator for MT4 should be in every forex trader’s tool kit. Because it helps the forex trader to avoid major pitfalls viz. excessive leverage
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