Experts: Daily Loss Guard - daily loss and total drawdown limits for funded / prop-firm accounts
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Daily Loss Guard - daily loss and total drawdown limits for funded / prop-firm accounts:
Utility Expert Advisor that watches the account equity against two limits: a maximum daily loss and a maximum total drawdown. Each limit can be set as a percentage or as a money amount, and the daily loss can be measured from the balance or from the equity at the start of the day, as many prop firms do. When a limit is touched the EA closes all positions, deletes all pending orders and keeps the account locked until the next trading day: anything opened in the meantime, by another EA or by hand, is closed again. Optional early warning at a percentage of the limit (Alert and push), a small on-chart panel, a magic number / symbol filter, a configurable day-reset time and retries when a close fails. The state is stored in terminal global variables, so a restart does not unlock the account. Works on hedging and netting accounts. No DLLs, no web requests. It never opens trades (only the optional Strategy Tester demo mode does).
Author: Jefry Francisco Rodriguez Campos