Smart Loss Exit Prop
- Experts
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BRAINGRAIN TECHNOLOGIES LLP
MT5 / MQL5 developer. I build indicators, Expert Advisors and utility panels from a written spec — every rule an input, 0 errors / 0 warnings, verified in the Strategy Tester before handover. - Version: 1.0
- Activations: 5
Smart Loss Exit Prop is not a trading strategy. On a live or demo account it never opens a position and it never touches a position that is in profit. Attach it to one chart and it watches every position on the account — your manual trades and any other Expert Advisor — and cuts the losers that meet your rules, before they reach the hard stop that ends a challenge.
It is built for prop-firm challenges and funded accounts, where the daily loss limit is closer than the stop-loss, and for anyone whose losing trades run further than their winning ones.
Exit rules — every one is an input and can be switched off
1. ATR adverse excursion. The price has moved against the entry by more than N x ATR.
2. Time in trade. Still losing after N minutes.
3. EMA trend invalidation. Fast EMA crossed the slow EMA against the position on a closed bar.
4. RSI momentum. RSI on a closed bar beyond your level against the position.
5. Money cap per position. Floating loss above a fixed amount.
6. Give-back. The trade was in profit by more than N x ATR and is now losing — the winner that turned.
7. Aggregate floating loss. The total floating loss of all managed positions is above your cap; the worst positions are closed first until it is under, or all losers if you prefer.
8. Flat time. Losers are closed at a server time — every day, or Friday only for a weekend flat.
Staged action. Choose what a rule hit does: close the whole position; close a part (your percent) and the rest on a second hit; or tighten the stop to N x ATR beyond price and close on a second hit. The second stage waits a gap you set and uses scaled-up thresholds, so a position gets one chance to recover.
Re-entry cooldown. After an exit, a new position in the same symbol and direction within N minutes is closed at once — the revenge trade never gets to run.
Observe-only mode. Journals what each rule would have done and does nothing. Run it for a week on your real trading, read the journal, tune the rules, then switch it on.
CSV journal. Every action is written with the rule that fired, the age of the trade, its maximum adverse excursion and maximum favourable excursion in pips — the data you need to see which rule earns its place.
Restart-proof. Excursions, stages and cooldowns are stored in terminal global variables and survive a restart or a chart change.
Scope. Whole account from one chart, or the chart symbol only, or one magic number (or manual trades only).
Alerts. Terminal alert, push notification, e-mail — each optional. Every action is also in the Experts log.
Panel buttons. PAUSE / RESUME stops all exits without removing the EA. CLOSE LOSERS flattens every losing managed position now.
Strategy Tester. In the tester only, the EA opens a small test position about once an hour (two minimum lots when affordable, wide stop, margin- and session-checked) so you can watch every rule and the staged action fire on your own settings. This never happens outside the tester.
Inputs
Scope: this symbol only; magic number; timeframe for ATR/EMA/RSI; grace minutes; observe only.
Action: staged action (close / partial then close / tighten then close); partial percent; tighten ATR multiple; stage gap minutes; second-stage factor.
Rules 1–8: enable and thresholds for ATR, time, EMA fast/slow, RSI period and levels, money cap, give-back ATR multiple, aggregate cap and close-all switch, flat hour/minute and Friday-only.
Cooldown: enable; minutes.
Journal and alerts: journal on/off and file name; terminal; push; e-mail.
Display: panel; corner; font size.
A pip is 10 points on 3- and 5-digit quotes and 1 point otherwise. Works on hedging and netting accounts.
Recommended settings for a prop-firm challenge
ATR 1.5x on M15; give-back 1.0x; time 240 min; aggregate cap = half your daily loss limit; partial 50% then close; cooldown 30 min; Friday flat at 21:55 server; observe-only for the first week.
Verified
Strategy Tester, MetaQuotes-Demo: EURUSD M1 with a 100 USD deposit, GBPUSD M30 with a 1,000,000 USD deposit, XAUUSD H1 with 1,000 USD and with 10 USD (margin guard skips the test trade instead of erroring) — partial, tighten, close, give-back, time, EMA, flat-time and observe-only all exercised, 0 runtime errors in every run. Compiled 0 errors, 0 warnings. No DLLs, no external files, no custom indicators.
Pairs with
Risk Guard Prop from the same seller enforces the account-level limits; Smart Loss Exit Prop keeps individual losers from reaching them. The five basic rules are free on CodeBase as Smart Loss Exit.
