Daily Loss Equity Guard

Daily Loss Equity Guard watches the equity of the whole account against the loss limits you set. When a limit is reached it closes every position, deletes the pending orders and keeps the account flat until the next daily reset. It never opens trades on your account.

It is meant for traders who follow fixed loss rules, for example on evaluation accounts with a daily loss limit and a maximum loss limit, and for anyone who wants a hard stop for a bad day.

Daily loss limit

• In percent or in account currency.
• Measured from the balance at the day start, the equity at the day start, or the higher of both.
• The day starts at a reset time you choose, in server time.
• If the utility is attached after the reset, the day start balance is rebuilt from today's closed deals.

Maximum loss limit

• Static: measured from the initial balance.
• Trailing: measured from the highest equity or the highest balance reached, with an option to never let the floor go above the initial balance.
• Once reached, the lock stays on after a restart until you clear it with an input.

Optional daily target
When the profit of the day reaches the target, positions are closed and the day is locked.

What happens at a limit

1. A warning (pop-up and push notification) when a chosen share of a limit is used, 70% by default.
2. At a chosen share of the limit, 95% by default, every position is closed and pending orders are deleted.
3. Until the reset, any new position opened by hand or by another Expert Advisor is closed at once.

If the market of a symbol is closed, the close is retried when its session opens. Failures are written to the journal at most once a minute.

Panel

• Equity and profit of the day.
• One bar for each limit: amount used, amount allowed, and the equity level where it acts.
• Status: active, warning, locked today, or locked.
• Time to the next reset.
• Buttons to close everything now and to lock the day by hand, both with a confirmation click.
• The panel can be collapsed by clicking its header.

Strategy Tester
In the tester the utility opens demo positions (buy and sell alternately, no strategy) sized so that the limits are reached on some days, only so you can watch it work in visual mode. Their profit or loss means nothing. On a live or demo account it never opens trades.

What it does not do
It does not choose entries and it does not make a strategy profitable. Gaps and slippage can make the final loss larger than the limit. It also needs the terminal to be running, with Algo Trading enabled, to close positions.

Inputs - limits

• Daily loss limit: on or off, unit (percent or money), value (default 5%), reference at the day start
• Maximum loss limit: on or off, unit, value (default 10%), static or trailing, initial balance (0 = balance when attached), floor cap, clear lock on start
• Daily target: on or off, unit, value (default 2%)
• Reset hour and minute (server time, default 00:00)

Inputs - actions and display

• Act at a share of the limit (default 95%) and warning share (default 70%)
• Delete pending orders, close new positions while locked, pop-up alerts, push notifications
• Panel corner and offsets
• Strategy Tester only: open demo positions