PropGuard Risk Manager
- Utilitaires
-
Keisho Yoshida
MQL4 / MQL5 developer from Japan | Expert Advisors, indicators, MT4-to-MT5 conversion
I build trading tools for MetaTrader 4 and 5, with a focus on clean code and verified behaviour.
What I do - Version: 1.0
- Activations: 5
PropGuard is a safety utility for prop-firm challenges and funded accounts. It watches the whole account and acts before a daily loss or max drawdown rule is broken.Most challenges are not failed by the strategy, but by a rule breach: a losing day that went one step too far, a position held over the weekend, or an EA that kept trading after a bad run. PropGuard handles these situations mechanically, for manual trading and for any EA.
HOW IT WORKS
1. Monitors equity every second against your limits.
2. Warns you (popup / push) when 50% of a limit is used.
3. Acts before the limit is reached (default: when 80% is used): closes all positions and deletes pending orders.
4. Locks trading: positions opened during a lock are closed immediately. A daily lock is released automatically at the next server day. A max drawdown or profit-target lock stays until you reset it.
FEATURES
- Daily loss limit in % of the initial balance or as an amount
- Daily reference: balance, equity, or the higher of both at day start
- Configurable day-reset hour (server time)
- Max drawdown: static (from initial balance) or trailing (from the highest balance/equity)
- Adjustable safety buffer and warning level
- Optional profit-target lock: close all and stop when the target is reached
- Optional Friday close
- Optional: close charts of other EAs during a lock, so they cannot keep re-entering
- On-chart status panel and push notifications
- Lock state and day-start values are saved per account and survive a terminal restart
INSTALLATION
Attach PropGuard to ONE chart (any symbol); it watches the whole account. Enable Algo Trading, enter your plan's limits, and keep MT5 running (a VPS is recommended).
STRATEGY TESTER AND FREE DEMO
On a real or demo account, PropGuard never opens trades. In the Strategy Tester only, it opens demonstration trades (input "Tester Demo Trades") so you can see warnings, closes and locks in action before you buy.
IMPORTANT
- Fast markets, gaps, slippage, disconnections or a stopped terminal can make losses go past a trigger. In tests with a 20% buffer, a few very fast moves still went past it. Use a larger buffer (30-40%) when trading gold or around news.
- Always check your prop firm's current rules and enter them yourself, and check that your prop firm allows EAs/utilities on your account.
- PropGuard is a risk-control tool. It does not guarantee that a rule will never be breached, and it does not promise any profit.
