• Overview
  • Reviews (3)
  • Comments (4)

PZ Equity Guardian

Pz Equity Guardian is an Expert Advisor that constantly monitors the equity of your trading account and prevents costly drawdowns.

  • Easy usage! Just load the EA to a random empty chart
  • Especially useful for money managers
  • It has two emergency procedures
  • Visual, email and push alerts

It implements two emergency procedures that are executed on two different drawdown levels you can customize.

  1. The first procedure closes half the volume of all losing trades (Default at 22% drawdown)
  2. The second procedure closes all losing trades (Default at 30% drawdown)

When an emergency procedure takes place, you are notified by visual, email and push alerts.

Every transaction is dumped to the Experts tab of the terminal.

We use this EA for our managed accounts.


Settings

When loading the indicator to any chart, you will be presented with a set of options as input parameters.

  • EquityReference
    This input parameter holds the reference equity you want to be used for drawdown calculations. It is used unless the current equity is higher.
  • DrawDownPartialClose
    This is the drawdown in percentage that triggers the first security measure: closing half the volume of all losing trades.
  • DrawDownTotalClose
    This is the drawdown in percentage that triggers the second security measure: closing all losing trades.
  • Alerts
    Enable display/email/push/sound alerts for security measures.


Some Nitty-Gritty Details

  • The Expert Advisor is executed every single tick
  • Pending orders are ignored by both procedures
  • The Expert Advisor stops working if any security measure is executed once, and needs restarting

Author

Arturo López Pérez, private investor and speculator, software engineer and founder of Point Zero Trading Solutions.

Francis Dogbe
9501
2016.04.06 23:31 
 

User didn't leave any comment to the rating

ThaiTrader7
164
2014.08.23 20:20 
 

User didn't leave any comment to the rating

Vadim Strelkov
7871
2014.05.06 14:28 
 

User didn't leave any comment to the rating