Prop Firm Rule Monitor
- Utilities
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Kayode Michael Oyetunde
Hi! I’m a Data Analyst and MQL5 Developer. Whether you have a question about my existing products or need a custom MT4/MT5 tool built from scratch, I’m here to help. Feel free to reach out! - Version: 1.0
- Activations: 10
Prop Firm Rule Monitor is a utility for traders taking prop firm challenges or trading funded accounts. It does not open trades. It watches your account against the rules you enter, shows them on a dashboard, and warns you or protects the account when a limit is close.
Key features
- Tracks daily drawdown and overall drawdown, each measured on balance or equity, as you choose
- Optional trailing high-water-mark mode for overall drawdown
- Shows the money you can still lose today and overall, plus the floor level
- Profit target progress and trading-day counter
- Warning alerts at a percentage of each limit
- Protection fires at a percentage of the limit you set, so slippage doesn’t carry the account past it
- Daily reset hour setting to match your firm’s day rollover (server time)
- Optional action when the profit target is reached: alert, close everything, or close and lock
- Daily Stats panel: net result of the day, closed trades, wins and losses, win rate, best, worst and average trade, best-day share of profit
- Two on-chart panels, each with minimise and close buttons, and automatic dark and light themes
- Push, email, popup and sound notifications
Protection modes
- Monitor only: alerts, no action
- Close on breach: closes all positions and deletes pending orders when the protection level is reached
- Full lockout: the same as above, then closes any new trade or order until you unlock the account
How to use
- Attach the EA to any one chart.
- Enter your firm’s current rules in the inputs: drawdown percentages, drawdown basis, profit target, minimum trading days and daily reset hour. Rules are never preset, because firms change them.
- If you attach it mid-challenge, enter your challenge starting balance and the trading days already completed.
- Choose a protection mode and notification options.
Important notes
- Algo Trading must be enabled for the protection modes to close trades.
- Push and email alerts need to be configured in the terminal options.
- Only one instance can run per account.
- Results depend on the rules you enter. Check them against your firm’s current terms, including how it measures drawdown and when its day resets.
- This tool is not affiliated with any prop firm and does not guarantee passing a challenge or avoiding losses.
