Spectar Daily Loss Planner
- Indicators
- Version: 1.0
Spectar Daily Loss Planner is a small, free indicator for MetaTrader 5. It turns your daily loss limit into one clear number on the chart: the equity level at which today's limit is breached, and how much room is left until then.
It is information only. It never opens, modifies or closes orders.
Why it helps
Many traders know their daily loss limit as a rule, but not as a live number while positions are open. Many prop-firm style evaluations measure the daily loss from a fixed daily reset in broker server time and count floating (open) profit and loss, not only closed trades. This indicator follows the same idea, so you can see at any moment how far your equity is from your own daily limit.
How it works
1. At the daily reset (broker server time, hour and minute of your choice) the indicator takes the day's reference: the start-of-day balance, the start-of-day equity, or the higher of the two.
2. Your limit is entered in account currency or as a % of that reference. The breach level is reference minus limit.
3. Every second it compares current equity (open positions included) with the breach level and shows the room left in money and as % of the limit.
4. The status changes colour: green (OK), yellow (your warning threshold is crossed), red (limit reached).
5. When the warning threshold is crossed, one pop-up alert is shown per day (shared by all charts of the same account).
What the panel shows
- Day start (server time)
- Reference and how it is taken
- Daily limit (money, or % and the money equivalent)
- Breach level (equity)
- Equity now
- Room left: money and % of the limit
- Limit used: % of the limit, with your warning threshold
- Open positions: count, floating P/L, swap and commission paid
- Status: OK / WARNING / LIMIT REACHED
Restarts and late start
- The day's reference is stored in the terminal's global variables, so it survives a restart of the indicator or the terminal on the same day.
- If the terminal was not running at the reset, the start-of-day balance is rebuilt exactly from today's deal history.
- The start-of-day equity is exact when no position was open at the reset. Otherwise the start-of-day balance is used as an estimate and the panel shows the note "Start equity estimated (terminal off at reset)". Best practice: keep the terminal running over the reset.
Please read: what this indicator does not do
- It does not open, modify or close any order or position, and it does not stop you from trading. The red status and the alert are information only; acting on them is up to you.
- The numbers are information, not a guarantee. Equity can move past the breach level faster than you can react: gaps (weekend, daily break, news), slippage, low liquidity or a closed market can make the final loss larger than the limit.
- It does not know the rules of any firm. Each firm defines daily loss in its own way (reset time, reference value, inclusion of commissions and swaps). Check your rules and set the inputs to match, ideally a bit stricter.
- It gives no trading signals and makes no profit.
- Deposits and withdrawals made during the day change equity and therefore the room left; they are not separated from trading results.
- It only updates while the terminal is running and connected.
Inputs
Daily loss limit
- Limit entered as (default: % of the day's reference): Money (account currency) or % of the day's reference.
- Limit value (money or %) (default 5.0): Must be above 0; a % limit must be below 100.
- Day's reference (default: Balance at start of day): Balance at start of day, Equity at start of day, or Higher of start-of-day balance / equity.
Day
- Daily reset hour, server time (0-23) (default 0): 0 = broker server midnight.
- Daily reset minute (0-59) (default 0).
Warning
- Warn when this % of the limit is used (default 80.0): above 0, up to 100. The status turns yellow and the alert is shown from this point.
- Pop-up alert (once per day) (default true).
Technical notes
- Indicator in the main chart window, no buffers, no lines drawn on price.
- Works on hedging and netting accounts, on any symbol and timeframe; the values are account-wide.
- Several charts of the same account can show the panel; they share the same day reference and one daily alert.
- No DLLs, no web requests, no external links.
- In the Strategy Tester it shows the panel for the tester account; it does not trade there either.
FAQ
Does it close my trades at the limit?
No. It is an indicator and cannot trade. It only shows the numbers and alerts you.
Which time zone is used?
Broker server time (the time shown in Market Watch). Set the reset hour and minute to match the reset time your rules use.
What if I attach it in the middle of the day?
The start-of-day balance is rebuilt from today's history. Start-of-day equity is exact only if no position was open at the reset; otherwise the panel marks it as estimated.
Why does the alert appear only once?
To avoid repeated pop-ups. One alert per day per account, when the warning threshold is first crossed. The panel colour keeps showing the current status.
Where do I get support?
In the comments of this product page or via MQL5 private messages.
