Prop Firm Loss Guard Pro
- Utilitaires
-
Amedeo Nustriani
MQL5 / MQL4 developer. I build exactly what the specification says, and I
test it before I hand it over.
WHAT I BUILD
- Expert Advisors for MT4 and MT5, single or multi-symbol
- Custom indicators, scripts, panels
- MT4 to MT5 conversion, TradingView (Pine) logic rebuilt in MQL5 - Version: 1.0
- Activations: 5
Prop Firm Loss Guard Pro protects a funded or prop firm account from breaking its loss rules. It closes all positions and deletes all pending orders before your daily loss limit or your maximum loss limit is reached, then keeps the account locked. It also gives you a live status panel, a popup alert, a trade journal and a report.
WHAT IT DOES
- Watches your daily loss and your maximum loss in real time.
- Shows a status panel on the chart: day result, daily limit used, room left today, equity and room to the maximum loss.
- Gives a popup alert when the warning level is reached (default: 70% of the limit).
- At the action level (default: 90% of the limit) it closes all open positions and deletes all pending orders on every symbol.
- After that it locks the account. The daily lock lasts until the next trading day starts. The maximum loss lock stays until you clear it yourself. While locked, any new position or pending order is closed or deleted right away.
- The lock survives a restart of the terminal.
- Writes a CSV trade journal (entries, exits, result, reason, risk in R) and a report by symbol, weekday and hour of entry. The journal can be opened in Excel (read-only) while the guard is running.
- Alerts you if a position is opened without a stop loss, and if Algo Trading is switched off.
WHAT IT DOES NOT DO
- It never opens trades. It gives no signals.
- It acts after a position is open. It cannot stop an order from being sent. Commission, spread and slippage count as loss, so keep a safety margin: the default action level is 90%, not 100%.
- It does not know the rules of your firm. You enter the numbers yourself.
HOW THE LIMITS ARE CALCULATED
- Daily loss: the result of the current trading day (closed trades with swap and commission, plus floating result) compared with Account size x Daily loss %. The trading day starts at the server hour you choose.
- Maximum loss: your equity compared with a fixed floor, Account size x (1 - Maximum loss %).
- The day start balance is the base for the daily loss. Some firms use the higher of balance and equity: check the rules of your firm and keep a margin.
- If your equity is already below the maximum loss floor when you start the program, it refuses to start. This protects you if you forget to set the real account size.
SETUP
1. Attach it to ONE chart only (any symbol, any timeframe).
2. Enable Algo Trading in the terminal and allow algorithmic trading in the program inputs.
3. Set Account size to the real starting balance of your account, then the daily and maximum loss percentages of your firm.
4. Use a VPS if you want the guard to work when your computer is off.
5. To clear a maximum loss lock: set "Clear a maximum-loss lock" to true, attach the program, then set it back to false.
INPUTS
Account size, Daily loss limit %, Maximum loss limit %, Server hour when the trading day starts, Warning level %, Action level %, Close all open positions, Delete all pending orders, Clear a maximum-loss lock, Popup alert, Push notification to mobile, Alert when a position has no stop loss, Panel settings, Journal and report file names.
More tools from the same author.
Prop Trade Manager Positions Dashboard (free) shows the open risk of all your positions in one table. Prop Trade Manager Risk Panel and Supervisor calculates the lot size from your risk and refuses orders that go over your limits. Liquidity Sweep Marks Swing Highs and Lows (free) marks the liquidity levels on the chart. Find them in the Market: open my profile and press "More from author".
DISCLAIMER
This is a risk management utility. It is not financial advice and it does not guarantee that a loss limit will not be exceeded. Slippage, price gaps, a lost connection or a stopped terminal can cause losses beyond the limits. You are responsible for your own account.
