PZ Risk Management Indicator
MT5Also Available for MT4The PZ risk management indicator for MT5 monitors a forex trading account. Essential for every retail forex trader to control drawdown and leverage.
Description
The PZ Risk Management Indicator for MT5 is an account monitoring tool essential for retail forex traders. It helps forex traders keep track of all open trades and displays exposure, floating points, leverage used and drawdown.
Moreover, the indicator keeps track of the score on every tick.
As an account monitoring tool, the indicator has a simple display that is useful for both new and experienced forex traders.
PZ Risk Management Indicator For MT5 Application
The above GBPUSD M30 price chart shows the PZ risk management indicator for MT5 in action. The indicator shows the account balance, floating point, used leverage and account drawdown. However, traders should keep in mind that the leverage used is a ratio between equity and the total market risk of your account.
Basically, an indicator provides a warning or warning of danger. The indicator warns the trader if the leverage or drawdown goes beyond the caution or danger level by changing the color of the text.
In addition, the indicator displays currency exposure with the number of lots traded on the buy or sell side. Similarly, the indicator shows the number of trades, the number of lots to sell and the number of lots to buy per currency pair.
In this way, the display helps the forex trader avoid excessive exposure to the currency and currency pair.
Conclusion
To summarize, the PZ Risk Management Indicator for MT5 should be in every forex trader’s toolbox. Because it helps the forex trader avoid the main pitfalls viz. excessive leverage
1 2 3 4 5