EdgeProof Daily Loss Guardian
- Utilities
-
Karem Neili
I build professional MT5 tools for traders of indices, gold and FX: Expert Advisors, indicators and utilities focused on risk control, multi-timeframe analysis and prop-firm account protection.
My principles:
• No repainting: signals are based on closed candles only. - Version: 1.0
One bad day ends most prop firm challenges. EdgeProof Daily Loss Guardian watches your equity in real time, warns you early, and closes everything before your daily loss limit is hit. Free.
WHY TRADERS FAIL CHALLENGES
Most challenges are not lost to a bad strategy. They are lost to one emotional day: a loss, a revenge trade, a bigger lot, and the daily limit is gone. Daily Loss Guardian is a simple safety net that does not get emotional.
WHAT IT DOES
- Tracks today's result on the whole account: closed trades plus floating profit and loss, commission and swap.
- Shows how much you can still lose before it acts, as money and as a progress bar.
- Sends a warning (push, e-mail or alert) when you have used part of the limit. Default: 60%.
- Closes all positions and deletes pending orders when you reach your safety level. Default: 85% of the limit, so slippage during the close does not push you over the real limit.
- Keeps the account flat until the daily reset: any new trade, manual or from another EA, is closed immediately.
- Resets automatically at the hour you choose (broker server time).
- Remembers its state after a terminal restart or VPS migration.
- Never sends orders while the market is closed.
WORKS WITH
- Manual trading and any Expert Advisor, on all symbols of the account.
- Any broker, any account currency, hedging and netting accounts.
INPUTS
- Limit type: percent of the day-start value, or a fixed amount in account currency.
- Daily loss limit, % / Daily loss limit, money.
- Day-start value: balance at reset, or the higher of balance and equity at reset (some prop firms use this).
- Daily reset hour (broker server time, 0-23).
- Alert level, % of the limit used. Close-all level, % of the limit used.
- Also delete pending orders.
- Notifications: phone push, e-mail, terminal alert.
- Panel X / Y offset.
HOW TO USE
1. Attach it to ONE chart (any symbol). One copy protects the whole account.
2. Allow Algo Trading, otherwise it cannot close positions.
3. Set your limit to match your prop firm rules. Check how your firm defines the day start and the reset time.
4. Keep the terminal running, on a VPS for 24/5 protection. A closed terminal cannot protect you.
IMPORTANT
- MetaTrader 5 cannot block an order before it is sent. While locked, the Guardian closes any new trade immediately after it opens.
- During a fast market or a price gap, the close can happen at a worse price. Keep the close level below 100% for this reason.
- This tool reduces the risk of breaking a rule. It does not guarantee that you will pass a challenge.
DEMO IN THE STRATEGY TESTER
The tester has no manual trades, so the Guardian opens small random demo trades to show the limiter at work: the warning, the close-all, and the lock until the next day. On a live chart it never opens trades.
