ISP - Inspector
Concept diagram
The concept diagram provided below depicts the function block associated with this page.
Performance - Daily protection
The inspector engine can be configured to halt trading once a specified daily performance limit is reached using the input parameters outlined in the table below. These parameters establish the daily absolute and relative minimum and maximum thresholds. A value of zero effectively turns off the limit.
| Input variable within MetaTrader (Identifier in SET file) | Default value | Comment |
|---|---|---|
| > (ISP) Performance day abs min (0.0 -> OFF) (IN_dIspPerformanceDayAbsMin) | 0.0 | If the account equity is at $10,000 and the minimum value is set at -100, trading will be suspended if the equity falls below $9,900. Trading will resume at the beginning of the next day, with the equity at that moment used as the new reference point. The input value cannot be greater than 0. |
| > (ISP) Performance day abs max (0.0 -> OFF) (IN_dIspPerformanceDayAbsMax) | 0.0 | If the account equity is at $10,000 and the minimum value is set at 100, trading will be suspended if the equity rises above $10,100. Trading will resume at the beginning of the next day, with the equity at that moment used as the new reference point. The input value cannot be smaller than 0. |
| > (ISP) Performance day rel min (0.0 -> OFF) (IN_dIspPerformanceDayRelMin) | 0.0 | If the account equity is at $10,000 and the minimum value is set at -0.15, trading will be suspended if the equity falls below $9,850. The value will be reset, and trading will be reactivated at the next day's start. The equity at the beginning of the next period serves as a new reference value to calculate the performance limits. The input value cannot be greater than 0. |
| > (ISP) Performance day rel max (0.0 -> OFF) (IN_dIspPerformanceDayRelMax) | 0.0 | If the account equity is at $10,000 and the minimum value is set at 0.15, trading will be suspended if the equity rises above $10,150. The value will be reset, and trading will be reactivated at the next day's start. The equity at the beginning of the next period serves as a new reference value to calculate the performance limits. The input value cannot be smaller than 0. |
Separate input parameters exist for the maximum and minimum permissible performance results. This allows the application to suspend the initiation of new trades when positive or negative performance results are achieved. The diagram below elucidates the operational principle of daily inspector protection.
The inspection period is set to one day. If the performance reaches the maximum or minimum value within this period, the ability to open new trades will be temporarily suspended. At the start of a new period, which is at midnight, the performance value for the day is reset, and trading resumes. This cycle continues indefinitely.
Performance - Weekly protection
The inspector engine can be configured to halt trading once a specified weekly performance limit is reached using the input parameters outlined in the table below. These parameters establish the weekly absolute and relative minimum and maximum thresholds. A value of zero effectively turns off the limit.
| Input variable within MetaTrader (Identifier in SET file) | Default value | Comment |
|---|---|---|
| > (ISP) Performance week abs min (0.0 -> OFF) (IN_dIspPerformanceWeekAbsMin) | 0.0 | If the account equity is at $10,000 and the minimum value is set at -100, trading will be suspended if the equity falls below $9,900. Trading will resume at the beginning of the next week, with the equity at that moment used as the new reference point. The input value cannot be greater than 0. |
| > (ISP) Performance week abs max (0.0 -> OFF) (IN_dIspPerformanceWeekAbsMax) | 0.0 | If the account equity is at $10,000 and the minimum value is set at 100, trading will be suspended if the equity rises above $10,100. Trading will resume at the beginning of the next week, with the equity at that moment used as the new reference point. The input value cannot be smaller than 0. |
| > (ISP) Performance week rel min (0.0 -> OFF) (IN_dIspPerformanceWeekRelMin) | 0.0 | If the account equity is at $10,000 and the minimum value is set at -0.15, trading will be suspended if the equity falls below $9,850. The value will be reset and trading will be reactivated at the start of the following week. The equity at the beginning of the next period serves as a new reference value to calculate the performance limits. The input value cannot be greater than 0. |
| > (ISP) Performance week rel max (0.0 -> OFF) (IN_dIspPerformanceWeekRelMax) | 0.0 | If the account equity is at $10,000 and the minimum value is set at 0.15, trading will be suspended if the equity rises above $10,150. The value will be reset and trading will be reactivated at the start of the following week. The equity at the beginning of the next period serves as a new reference value to calculate the performance limits. The input value cannot be smaller than 0. |
Separate input parameters exist for the maximum and minimum permissible performance results. This allows the application to suspend the initiation of new trades when positive or negative performance results are achieved. The diagram below elucidates the operational principle of weekly inspector protection.
The inspection period is set to one week. If the performance reaches the maximum or minimum value within this period, the ability to open new trades will be temporarily suspended. At the start of a new period, which is midnight between Saturday and Sunday, the performance value for the week is reset, and trading is resumed. This cycle continues indefinitely.
Performance - Monthly protection
The inspector engine can be configured to halt trading once a specified monthly performance limit is reached using the input parameters outlined in the table below. These parameters establish the monthly absolute and relative minimum and maximum thresholds. A value of zero effectively turns off the limit.
| Input variable within MetaTrader (Identifier in SET file) | Default value | Comment |
|---|---|---|
| > (ISP) Performance month abs min (0.0 -> OFF) (IN_dIspPerformanceMonthAbsMin) | 0.0 | If the account equity is at $10,000 and the minimum value is set at -100, trading will be suspended if the equity falls below $9,900. Trading will resume at the beginning of the next month, with the equity at that moment used as the new reference point. The input value cannot be greater than 0. |
| > (ISP) Performance month abs max (0.0 -> OFF) (IN_dIspPerformanceMonthAbsMax) | 0.0 | If the account equity is at $10,000 and the minimum value is set at 100, trading will be suspended if the equity rises above $10,100. Trading will resume at the beginning of the next month, with the equity at that moment used as the new reference point. The input value cannot be smaller than 0. |
| > (ISP) Performance month rel min (0.0 -> OFF) (IN_dIspPerformanceMonthRelMin) | 0.0 | If the account equity is at $10,000 and the minimum value is set at -0.15, trading will be suspended if the equity falls below $9,850. The value will be reset and trading will be reactivated at the start of the next month. The equity at the beginning of the next period serves as a new reference value to calculate the performance limits. The input value cannot be greater than 0. |
| > (ISP) Performance month rel max (0.0 -> OFF) (IN_dIspPerformanceMonthRelMax) | 0.0 | If the account equity is at $10,000 and the minimum value is set at 0.15, trading will be suspended if the equity rises above $10,150. The value will be reset and trading will be reactivated at the start of the next month. The equity at the beginning of the next period serves as a new reference value to calculate the performance limits. The input value cannot be smaller than 0. |
Separate input parameters exist for the maximum and minimum permissible performance results. This allows the application to suspend the initiation of new trades when positive or negative performance results are achieved. The diagram below elucidates the operational principle of monthly inspector protection.
The inspection period is set to one month. If the performance reaches the maximum or minimum value within this period, the ability to open new trades will be temporarily suspended. At the start of a new period, which in this case is the 1st day of the month, the performance value for the month is reset, and trading is resumed. This cycle continues indefinitely.
Performance - Yearly protection
The inspector engine can be configured to halt trading once a specified yearly performance limit is reached using the input parameters outlined in the table below. These parameters establish the yearly absolute and relative minimum and maximum thresholds. A value of zero effectively turns off the limit.
| Input variable within MetaTrader (Identifier in SET file) | Default value | Comment |
|---|---|---|
| > (ISP) Performance year abs min (0.0 -> OFF) (IN_dIspPerformanceYearAbsMin) | 0.0 | If the account equity is at $10,000 and the minimum value is set at -100, trading will be suspended if the equity falls below $9,900. Trading will resume at the beginning of the next year, with the equity at that moment used as the new reference point. The input value cannot be greater than 0. |
| > (ISP) Performance year abs max (0.0 -> OFF) (IN_dIspPerformanceYearAbsMax) | 0.0 | If the account equity is at $10,000 and the minimum value is set at 100, trading will be suspended if the equity rises above $10,100. Trading will resume at the beginning of the next year, with the equity at that moment used as the new reference point. The input value cannot be smaller than 0. |
| > (ISP) Performance year rel min (0.0 -> OFF) (IN_dIspPerformanceYearRelMin) | 0.0 | If the account equity is at $10,000 and the minimum value is set at -0.15, trading will be suspended if the equity falls below $9,850. The value will be reset and trading will be reactivated at the start of the next year. The equity at the beginning of the next period serves as a new reference value to calculate the performance limits. The input value cannot be greater than 0. |
| > (ISP) Performance year rel max (0.0 -> OFF) (IN_dIspPerformanceYearRelMax) | 0.0 | If the account equity is at $10,000 and the minimum value is set at 0.15, trading will be suspended if the equity rises above $10,150. The value will be reset and trading will be reactivated at the start of the next year. The equity at the beginning of the next period serves as a new reference value to calculate the performance limits. The input value cannot be smaller than 0. |
Separate input parameters exist for the maximum and minimum permissible performance results. This allows the application to suspend the initiation of new trades when positive or negative performance results are achieved. The diagram below elucidates the operational principle of the yearly inspector protection.
The inspection period is set to one year. If the performance reaches the maximum or minimum value within this period, the ability to open new trades will be temporarily suspended. At the start of a new period, which in this case is on the 1st of January, the performance value for the year is reset, and trading resumes. This cycle continues indefinitely.
Performance - Since start protection
The inspector engine can be configured to halt trading once a specified performance limit is reached using the input parameters outlined in the table below. These parameters establish the absolute and relative minimum and maximum thresholds. A value of zero effectively turns off the limit.
| Input variable within MetaTrader (Identifier in SET file) | Default value | Comment |
|---|---|---|
| > (ISP) Performance since start abs min (0.0 -> OFF) (IN_dIspPerformanceSinceStartAbsMin) | 0.0 | If the account equity is at $10,000 and the minimum value is set at -100, trading will be suspended if the equity falls below $9,900. The input value cannot be greater than 0. |
| > (ISP) Performance since start abs max (0.0 -> OFF) (IN_dIspPerformanceSinceStartAbsMax) | 0.0 | If the account equity is at $10,000 and the minimum value is set at 100, trading will be suspended if the equity rises above $10,100. The input value cannot be smaller than 0. |
| > (ISP) Performance since start rel min (0.0 -> OFF) (IN_dIspPerformanceSinceStartRelMin) | 0.0 | If the account equity is at $10,000 and the minimum value is set at -0.15, trading will be suspended if the equity falls below $9,850. The input value cannot be greater than 0. |
| > (ISP) Performance since start rel max (0.0 -> OFF) (IN_dIspPerformanceSinceStartRelMax) | 0.0 | If the account equity is at $10,000 and the minimum value is set at 0.15, trading will be suspended if the equity rises above $10,150. The input value cannot be smaller than 0. |
Separate input parameters exist for the maximum and minimum permissible performance results. This allows the application to suspend the initiation of new trades when positive or negative performance results are achieved. The diagram below elucidates the operational principle of inspector protection.
The inspection period begins when the application is started. If the performance reaches the maximum or minimum value, the ability to open new trades will be permanently suspended.
Performance - Example
The charts below provide examples of a trading system with a) a maximum performance of -2% per day and b) a performance of -2% since the application started.
To reproduce the chart from above, you can download and use the SET file package um_eab_cisp_7_v_2_0.zip.
In both example charts, the trading modules cease to open trades as soon as the -2 % performance limit is reached. Chart b) keeps all trading modules deactivated indefinitely, whereas chart a) only temporarily turns off the trading module until the next day's start. As a result, chart a) contains two periods without trading, as the -2% limit was reached on both days.
Drawdown - Daily protection
The inspector engine can be configured to halt trading once a specified daily drawdown limit is reached using the input parameters outlined in the table below. These parameters establish the daily absolute and relative maximum thresholds. A value of zero effectively turns off the limit.
| Input variable within MetaTrader (Identifier in SET file) | Default value | Comment |
|---|---|---|
| > (ISP) Drawdown day abs max (0.0 -> OFF) (IN_dIspDrawdownDayAbsMax) | 0.0 | If the account equity is set at $10,000 and the maximum value is set at 100, trading will be halted if the drawdown exceeds $100 within a day. Trading will resume at the beginning of the next day, with the equity at that moment used as the new reference point. The input value cannot be smaller than 0. |
| > (ISP) Drawdown day rel max (0.0 -> OFF) (IN_dIspDrawdownDayRelMax) | 0.0 | If the account equity is set at $10,000 and the maximum value is set at 0.15, trading will be halted if the drawdown exceeds $150 within a day. Trading will resume at the beginning of the next day, with the starting equity as the reference point. The new reference value is used to calculate the next drawdown limits. The input value cannot be smaller than 0. |
Input parameters exist for the maximum permissible drawdown results. This allows the application to suspend the initiation of new trades when bad performance values are surpassed. The diagram below elucidates the operational principle of daily inspector protection.
The inspection period is set to one day. If the drawdown reaches the maximum value within this period, the ability to open new trades will be temporarily suspended. At the start of a new period, which is at midnight, the drawdown value for the day is reset, and trading is resumed. This cycle continues indefinitely.
Drawdown - Weekly protection
The inspector engine can be configured to halt trading once a specified weekly drawdown limit is reached using the input parameters outlined in the table below. These parameters establish the weekly absolute and relative maximum thresholds. A value of zero effectively turns off the limit.
| Input variable within MetaTrader (Identifier in SET file) | Default value | Comment |
|---|---|---|
| > (ISP) Drawdown week abs max (0.0 -> OFF) (IN_dIspDrawdownWeekAbsMax) | 0.0 | If the account equity is set at $10,000 and the maximum value is set at 100, trading will be halted if the drawdown exceeds $100 within a week. Trading will resume at the beginning of the next week, with the equity at that moment used as the new reference point. The input value cannot be smaller than 0. |
| > (ISP) Drawdown week rel max (0.0 -> OFF) (IN_dIspDrawdownWeekRelMax) | 0.0 | If the account equity is set at $10,000 and the maximum value is set at 0.15, trading will be halted if the drawdown exceeds $150 within a week. Trading will resume at the beginning of the next week, with the starting equity as the reference point. The new reference value is used to calculate the next drawdown limits. The input value cannot be smaller than 0. |
Input parameters exist for the maximum permissible drawdown results. This allows the application to suspend the initiation of new trades when bad performance values are surpassed. The diagram below elucidates the operational principle of daily inspector protection.
The inspection period is set to one week. If the drawdown reaches the maximum value within this period, the ability to open new trades will be temporarily suspended. At the start of a new period, which in this case is midnight between Saturday and Sunday, the drawdown value for the day is reset, and trading is resumed. This cycle continues indefinitely.
Drawdown - Monthly protection
The inspector engine can be configured to halt trading once a specified monthly drawdown limit is reached using the input parameters outlined in the table below. These parameters establish the monthly absolute and relative maximum thresholds. A value of zero effectively turns off the limit.
| Input variable within MetaTrader (Identifier in SET file) | Default value | Comment |
|---|---|---|
| > (ISP) Drawdown month abs max (0.0 -> OFF) (IN_dIspDrawdownMonthAbsMax) | 0.0 | If the account equity is set at $10,000 and the maximum value is set at 100, trading will be halted if the drawdown exceeds $100 within a month. Trading will resume at the beginning of the next month, with the equity at that moment used as the new reference point. The input value cannot be smaller than 0. |
| > (ISP) Drawdown month rel max (0.0 -> OFF) (IN_dIspDrawdownMonthRelMax) | 0.0 | If the account equity is set at $10,000 and the maximum value is set at 0.15, trading will be halted if the drawdown exceeds $150 within a month. Trading will resume at the beginning of the next month, with the starting equity as the reference point. The new reference value is used to calculate the next drawdown limits. The input value cannot be smaller than 0. |
Input parameters exist for the maximum permissible drawdown results. This allows the application to suspend the initiation of new trades when bad performance values are surpassed. The diagram below elucidates the operational principle of daily inspector protection.
The inspection period is set to one month. If the drawdown reaches the maximum value within this period, the ability to open new trades will be temporarily suspended. At the start of a new period, which is the 1st day of the month, the drawdown value for the day is reset, and trading is resumed. This cycle continues indefinitely.
Drawdown - Yearly protection
The inspector engine can be configured to halt trading once a specified yearly drawdown limit is reached using the input parameters outlined in the table below. These parameters establish the yearly absolute and relative maximum thresholds. A value of zero effectively turns off the limit.
| Input variable within MetaTrader (Identifier in SET file) | Default value | Comment |
|---|---|---|
| > (ISP) Drawdown year abs max (0.0 -> OFF) (IN_dIspDrawdownYearAbsMax) | 0.0 | If the account equity is set at $10,000 and the maximum value is set at 100, trading will be halted if the drawdown exceeds $100 within a year. Trading will resume at the beginning of the next year, with the equity at that moment used as the new reference point. The input value cannot be smaller than 0. |
| > (ISP) Drawdown year rel max (0.0 -> OFF) (IN_dIspDrawdownYearRelMax) | 0.0 | If the account equity is set at $10,000 and the maximum value is set at 0.15, trading will be halted if the drawdown exceeds $150 within a year. Trading will resume at the beginning of the next year, with the starting equity as the reference point. The new reference value is used to calculate the next drawdown limits. The input value cannot be smaller than 0. |
Input parameters exist for the maximum permissible drawdown results. This allows the application to suspend the initiation of new trades when bad performance values are surpassed. The diagram below elucidates the operational principle of daily inspector protection.
The inspection period is set to one year. If the drawdown reaches the maximum value within this period, the ability to open new trades will be temporarily suspended. At the start of a new period, which is on the 1st of January, the drawdown value for the day is reset, and trading is resumed. This cycle continues indefinitely.
Drawdown - Since start protection
The inspector engine can be configured to halt trading once a specified drawdown limit is reached using the input parameters outlined in the table below. These parameters establish the absolute and relative maximum thresholds. A value of zero effectively turns off the limit.
| Input variable within MetaTrader (Identifier in SET file) | Default value | Comment |
|---|---|---|
| > (ISP) Drawdown since start abs max (0.0 -> OFF) (IN_dIspDrawdownSinceStartAbsMax) | 0.0 | If the account equity is set at $10,000 and the maximum value is set at 100, trading will be halted if the drawdown exceeds $100. The input value cannot be smaller than 0. |
| > (ISP) Drawdown since start rel max (0.0 -> OFF) (IN_dIspDrawdownSinceStartRelMax) | 0.0 | If the account equity is set at $10,000 and the maximum value is set at 0.15, trading will be halted if the drawdown exceeds $150. The input value cannot be smaller than 0. |
Input parameters exist for the maximum permissible drawdown results. This allows the application to suspend the initiation of new trades when bad performance values are surpassed. The diagram below elucidates the operational principle of daily inspector protection.
The inspection period begins when the application is started. If the drawdown reaches the maximum value, the ability to open new trades will be permanently suspended.
Drawdown - Example
The charts below provide examples of a trading system with a) a maximum drawdown of -2% per day and b) a drawdown of -2% since the application started.
To reproduce the chart from above, you can download and use the SET file package um_eab_cisp_13_v_2_0.zip.
In both example charts, the trading modules cease to open trades as soon as the -2 % drawdown limit is reached. Chart b) keeps all trading modules deactivated indefinitely, whereas chart a) only temporarily turns off the trading module until the next day's start. As a result, chart a) contains two periods without trading, as the -2% limit was reached on both days.