EquityGuard MT4 Drawdown Monitor and Protector
- Utilities
-
Ahmed Aangour
Based in France. I am a trader first: I run my own accounts on MT4 and MT5, and I develop my own trading robots from that experience, built only on strategies that have proven solid in the market. - Version: 2.30
- Activations: 20
EquityGuard watches your account and does two things: it records the real drawdown — day, month, all time, on equity and on balance — and, if you ask it to, it t closes every open positions when a drawdown limit or a profit target is reached.
It opens no position of its own. No strategy, no entries, no orders. It only ever closes, and only when you have told it to, so it runs alongside your manual trading or any other EA without interfering.
WHAT MAKES IT DIFFERENT
Most equity protectors act. EquityGuard measures first.
• Real drawdown, kept. The maximum drawdown of the day, the month and all time — on equity and separately on balance. The gap between those two figures is what an account statement never shows: how long a strategy stays under water before it recovers.
• A daily journal. One CSV row per trading day in the terminal's Files folder: opening balance, close, realised result, maximum equity and balance drawdown. The panel shows today; the journal lets you open last Tuesday.
• Drawdown per EA. Each magic number's floating result is tracked and its deepest reading of the day is written to a second CSV. Account drawdown tells you how deep the hole was. This tells you which of your EAs dug it.
• Rebuilt from history. Switch on "Count the profit or loss already running at startup" and the balance drawdown of the day and the month is replayed deal by deal from the account history — exact from the first minute, even on an account the EA has never seen.
PROTECTION
• Equity Protector — closes everything on a drawdown limit, as a percentage or an amount, measured since attach, since the start of the trading day, since the start of the month, or from the all-time high.
• Profit Target — closes everything once a profit is reached, same choice of basis.
• After it fires: stand down until the next trading day, stand down until re-armed by hand, keep monitoring and re-arm at once, or stop every other EA by closing their charts.
• Trading day rollover at the server hour you choose — prop-firm daily limits do not reset at midnight.
• Close scope: the whole account, this chart's symbol only, or one magic number. Pending orders cancelled as well.
• Dry run: reports exactly as it would in earnest and closes nothing, so you can settle your thresholds against a live market before trusting it.
• Terminal alert, push notification, email.
IT TELLS YOU WHEN IT DID NOT WORK
Closing is never assumed to have succeeded. The EA retries every second and only stands down once the number of open positions in scope reaches zero. If it cannot close after the configured number of attempts, the panel reads CLOSE FAILED — ACT NOW and you are notified. If the limit is already breached when the EA starts, it refuses to arm rather than flattening the account by surprise, and says so. Whenever nothing can fire, the reading is greyed and marked ASLEEP so a number past its limit is never mistaken for one about to act.
Both triggers are off by default. A fresh attach can never close anything.
WHAT YOU SHOULD KNOW
• One chart is enough: it watches the whole account, not the chart's symbol.
• One instance per account. A second copy refuses to start.
• MetaTrader 4 and MetaTrader 5 versions share the same settings in the same order.
• On MT4, the history the EA can read is what the Account History tab has loaded. Set it to cover the period you measure.
• The equity drawdown of a period the EA did not observe cannot be recovered — the balance drawdown can, and is.
A user guide covering every setting and the common scenarios is available here
