Prop Firm Protector Basic
- Experts
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Janitha Sandaruwan Amaradasa Wickramasingha Arachchilage
Full-Stack Trading Developer | MQL5 & Python
I'm a developer focused on building practical tools for serious traders. I don't just write code - I understand trading, risk management, and what traders actually need. - Version: 2.30
- Updated: 31 January 2026
Prop Firm Protector Lite - Essential Risk Management Tool
A risk management utility designed to help traders monitor their trading activity according to predefined rules and limits. This tool runs in the background on any chart and monitors all trades regardless of their source, including manual trades, signal subscriptions, or other Expert Advisors.
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Core Features
Symbol and Lot Monitoring:
The symbol monitoring module allows you to define which currency pairs are permitted for trading. If a trade is opened on an unauthorized symbol, the EA closes it immediately and displays an alert. You can also set a maximum lot size limit. Positions exceeding this limit can be automatically reduced or closed, depending on your configured preference.
Daily Loss Monitoring:
The daily loss monitoring feature helps prevent exceeding your daily drawdown threshold. You set your maximum allowed daily loss in dollars, and if your account reaches that threshold, all positions are closed and trading is paused until the next day.
Auto Stop Loss Application:
The auto stop loss feature ensures every trade has protection. When a position is opened without a stop loss, the EA automatically applies one based on your configured pip distance. This prevents unprotected trades from remaining open without risk management.
Alert System:
All protection events trigger popup alerts so you receive immediate notification of actions taken by the EA.
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Important Setup Information
All protection features are disabled by default when you first attach this EA. This design prevents accidental closures of existing trades before you have configured your settings.
Before enabling any feature, configure your allowed symbols, maximum lot size, daily loss limit, and auto stop loss distance according to your trading rules. Then enable each feature individually as needed.
For volatile instruments like Bitcoin or Gold, adjust the auto stop loss distance accordingly. The default 200 pips is suitable for standard forex pairs but may not be appropriate for cryptocurrency or precious metals which have larger average price movements.
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Configuration Parameters
Symbol and Lot Monitoring:
- Allowed Symbols: Comma-separated list of permitted trading pairs
- Maximum Lot Size: Maximum position size limit
- Enable Symbol Filter: Activate symbol checking
- Enable Lot Filter: Activate lot size checking
- Reduce Instead of Close: Option to reduce oversized positions rather than closing them
Daily Loss Protection:
- Daily Loss Limit: Maximum allowed daily loss in dollars
- Enable Loss Limit: Activate daily loss monitoring
Auto Stop Loss:
- Stop Loss Distance: Distance in pips from entry price
- Enable Auto SL: Activate automatic stop loss application
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Technical Specifications
- Platform: MetaTrader 5 only
- Broker Compatibility: All MT5 brokers
- Trade Sources: Compatible with manual trades, signal subscriptions, and other Expert Advisors
- Chart Attachment: Works on any symbol and timeframe
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Support
For questions or technical assistance, contact via MQL5 private messaging system.
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Made by Navigator Trading Systems
Очень полезно, спасибо разработчику!