Tripwire Prop Firm Loss Guard MT5

Tripwire Prop Firm Loss Guard MT5 is an account protection utility. It watches your whole account and acts the moment a loss limit you set is reached. It does not open trades on a live chart and it gives no trading signals.

WHAT IT GUARDS

- Daily loss limit: percent or money. Measured from the balance, the equity, or the higher of the two at the daily reset. The reset time is set in server time.

- Max drawdown: static from the initial balance, or trailing from the highest equity. The trailing floor can stop rising at the initial balance.

- Equity floor: a hard money level.

- Profit target lock: optional. Closes everything when the target is reached.

- Trade caps: maximum open trades and maximum total lots.

WHAT HAPPENS ON A BREACH

- All pending orders on the account are deleted.

- All open trades on the account are closed, on every symbol.

- The account is locked. Any new trade or pending order is closed or deleted straight away.

- A daily loss lock releases by itself at the next daily reset. Other locks stay until you release them.

PANEL

- Room left on each limit, in money and percent used.

- Status: ACTIVE, WARNING or LOCKED, with the reason.

- Countdown to the daily reset, open trades and open lots.

- CLOSE ALL and UNLOCK buttons. Both need two clicks, so no accidents.

- Top right or top left of the chart.

ALERTS

- Warning before a limit is reached (default: 80 percent used).

- Popup and phone push notification on warning and on breach.

SETUP

1. Attach it to one chart. One chart covers the whole account.

2. Keep Algo Trading switched on.

3. Leave Initial balance at 0 to use your current balance, or type your challenge size.

4. Set each limit a little tighter than your firm's rule, for example 4.5 percent for a 5 percent daily rule.

5. Set the daily reset time to your firm's reset, in server time.

PLEASE READ

- MetaTrader 5 cannot stop a trade from being opened. Tripwire closes it straight after, which costs the spread.

- Algo Trading must stay on and the terminal must be running. A VPS is recommended.

- Trades are closed at market price. In fast markets or gaps the final loss can be larger than your limit.

- On netting accounts, passing a trade cap closes the whole position on that symbol.

- If the terminal is started mid-day, the day-start equity is taken from the day-start balance.

- In the Strategy Tester only, it opens small demo trades so you can watch it work. It never does this on a live chart.

- This tool does not guarantee that you pass a challenge or keep a funded account. Always check your firm's own rules.

MAIN INPUTS

- Initial balance, Reset stored data

- Daily loss: mode, value, percent base, measured from, reset hour and minute

- Max drawdown: mode, value, static or trailing

- Equity floor, Profit target

- Max open trades, Max total lots

- Max slippage when closing, Show UNLOCK button

- Warning percent, Popup alert, Phone push

- Panel position, size and colours