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PZ Equity Guardian EA MT4

1

This Expert Advisor constantly monitors the equity of your trading account to prevent costly drawdowns and/or to comply with trading rules. When a certain set of rules are breached, the EA will alert, close all trades and in some cases, delete all pending orders. Optionally, it can also close all charts to remove all EAs operating in the account. This EA is particularly useful for Prop Trading Challenges, such as the FTMO Challenge or PZ Challenge.

[ Installation Guide | Update Guide | Troubleshooting | FAQ | All Products ]

The following features are implemented and can be enabled or disabled at will:

  • Equity Maximum Loss a.k.a as Trailing Equity Drawdown
  • Daily Equity Maximum Loss
  • Equity Profit Target
  • Equity Trailing Stop
  • Close all trades on Friday night

Other benefits are:

  • Dead easy to use
  • Useful for Prop Trading firms and Traders
  • It implements alerts of all kinds
  • Reports to the terminal

Technical information:

  • It calculates the maximum equity and daily equity by itself
  • It uses global variables to store account and daily equity watermarks
  • It executes every tick and displays information on the chart
  • It monitors all trades and magic numbers on the account
  • It can be used with the investor password and will monitor and alert on breaches

How to get started

  • Load the EA once a single chart
  • Do not load the EA in other chart
  • Customize your events and setttings
  • Leave the EA alone and never close that chart
To reset the EA after a closure of trades, delete the global variables of the Metatrader Terminal. (Tools -> Global Variables -> Delete)

    How to use it for Prop Trading Challenges

    This EA is useful for Prop Trading Firms or Traders as it encapsulates all the rules of the FTMO Challenge or the PZ Challenge. Any Prop Trading Firm can use this EA to monitor breaches of the trading rules, whereas a trader can use it to avoid breaking the rules of the firm or other fixed criteria he deems adequate. If you are a trader, make sure to enter restrictive values that stop your trading before the actual rules are broken, for instance, if the Max Daily Equity Loss possible is 2%, make sure to stop your trading when it reaches 1%.


    Input Parameters

    • Watermark: You can manually set the equity to use as watermark. A value of zero means that the EA auto-calculates it.
    • Profit Target: The equity profit target for the account expressed in percentage. A value of zero disables this feature.
    • Maximum Loss: The maximum equity loss possible for the account expressed in percentage. A value of zero disables this feature.
    • Maximum Daily Loss: The maximum daily loss possible for the account expressed in percetage. A value of zero disables this feature.
    • Equity Trailing Stop: A trailing stop for the account profit expressed in percentage. A value of zero disables this feature.
    • GMT Time to store daily equity: The EA will store the daily equity once every 24 hours at this time.
    • GMT Time to close trades on Friday: Time to close trades on friday night.
    • Stop EAs on Max Loss: Choose i¡automated trading must be stopped when the max loss is reached.
    • Stop EAs on Max Daily Loss: Choose if automated trading must be stopped when the daily max loss is reached.
    • Stop EAs on Profit Target: Choose if automated trading must be stopped when the profit target is reached.
    • Stop EAs on Equity Trailing Stop: Choose if automated trading must be stopped when the trailing stop is executed.
    • Close trades on Friday: Enable or disable the closing of trades on friday night.
    • Alert Name: Custom alert name for the alert messages.
    • Display Alerts: Enable or disable visual alerts.
    • Email Alerts: Enable or disable email alerts.
    • Push Alerts: Enable or disable push alerts.
    • Sound File: Name of sound file to play on visual alerts.
    • Label Color: Color of the text objects on the screen.
    • Slippage: Maximum slippage in points to close trades.

      Author

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

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      Filter:
      Poltergeist
      624
      Poltergeist 2022.09.01 10:25 
       

      The drawdown calculation is wrong and doesn't work properly. I received an email alert from the EA that the max. loss limit was reached and all windows were clsoed. But how can that happen when there were either no trades on that day or I had a few trades which were far below the max. loss value?! The EA is therefore faulty. I already wrote an email to the author. No response at all!

      Edit: the author replied to me and regarding the drawdown he told me the following: "The EA uses a max trailing equity condition to close trades. So it could be triggered by the highest equity achieved many days ago"

      The behaviour is not as described in the EA description. In the EA description and in the settings of the EA the daily max. loss can be specified and no where there is any setting or information how many days of the past are considered!

      For the the max. daily loss is important and needs to be calculated each day as descripted in the EA description. Calculating the drawdown of several days in the past is useless! I asked the author to update the EA accordingly

      johnnyp
      625
      johnnyp 2022.08.30 12:02 
       

      User didn't leave any comment to the rating

      dp35
      819
      dp35 2022.07.01 03:51 
       

      User didn't leave any comment to the rating

      106561
      201
      106561 2022.06.17 22:55 
       

      Das Programm ist unbrauchbar WaterMark eingabe wird ignoriert. Drawdown bezug ist falsch . Eine Katastrophe in Verbindung mit PZ Local Trade Copier weil die Positionen erneut geöffnet werden nach dem PZ Equity Guardian sie geschlossen hat.

      PZ TRADING SLU
      751301
      Reply from developer Arturo Lopez Perez 2022.06.26 14:14
      Hello. Watermark input is not ignored, but the EA will use the highest value between your input and the actual equity of the account. It'll allow you to enter a higher value, not a lower one. As said in the support ticket, if you run the Guardian and the Copier in the same account, you must set "Stop EAs" to FALSE in the Guardian inputs. Else, the Guardian will close the Copier EA, disabling the very EA that has to instruct the slave accounts to close the trades. Other option is to run the Guardian in the slave accounts. Thank you.
      S R
      62
      S R 2021.10.22 09:26 
       

      User didn't leave any comment to the rating

      Mehdi Faraz Fard
      2325
      Mehdi Faraz Fard 2021.07.11 13:01 
       

      User didn't leave any comment to the rating

      Alfredo Daniel Ramirez Velazco
      288
      Alfredo Daniel Ramirez Velazco 2021.06.20 21:46 
       

      User didn't leave any comment to the rating

      Miguel Jimenez Cordero
      6764
      Miguel Jimenez Cordero 2021.02.22 10:50 
       

      User didn't leave any comment to the rating

      7503203
      31
      7503203 2021.02.02 18:26 
       

      User didn't leave any comment to the rating

      Gerardo Llanos
      348
      Gerardo Llanos 2020.12.23 22:09 
       

      User didn't leave any comment to the rating

      PZ TRADING SLU
      751301
      Reply from developer Arturo Lopez Perez 2021.06.01 14:01
      Gracias a ti!
      Reply to review
      Version 4.4 2022.06.24
      - Bug fix regarding closing on friday night (gmt time)
      Version 4.2 2022.03.28
      - Bug fix regarding gmt times
      Version 4.0 2022.03.10
      - Updated to run ontimer
      Version 3.7 2022.02.12
      - Added options to close all trades by friday night
      Version 3.6 2022.01.06
      - Added functionality to be able to trade multiple accounts from the same terminal
      Version 3.4 2021.11.01
      - Faster execution
      Version 3.2 2021.11.01
      - Minor improvements
      Version 3.0 2021.11.01
      Added events and functionalities:

      - Maximum Equity Loss
      - Maximum Daily Equity Loss
      - Equity Profit Target
      - Equity Trailing Stop