CasperIT Risk Guardian MT5

CasperIT Risk Guardian MT5

CasperIT Risk Guardian MT5 is an account-risk management utility for MetaTrader 5. It helps traders monitor drawdown, review open exposure, receive warnings, and apply optional protection actions when configured limits are reached.

The utility does not open trades or promise trading results. It is designed to support disciplined risk management for personal accounts and evaluation accounts.

Main Advantages

• Monitor daily and overall account drawdown in real time.
• Use fixed starting values or trailing high-watermark calculations.
• Estimate the potential loss if open stop losses are reached.
• Detect positions that do not have a stop loss.
• Receive early warnings before a risk limit is reached.
• Apply optional automatic protection actions.
• Keep the risk lock active after a terminal restart.
• Monitor the whole account or selected symbols and Magic Numbers.
• View important information in a clear professional panel.

Dashboard Information

The panel displays:

• Current daily drawdown and limit usage.
• Current overall drawdown and limit usage.
• Projected open risk based on stop losses.
• Positions without a stop loss.
• Floating profit or loss.
• Equity, balance, and free margin.
• Daily realized profit or loss.
• Open position count, total lots, and trades opened today.
• Active monitoring scope and next daily reset time.
• Current state: SAFE, WATCH, CRITICAL, or LOCKED.

Protection Modes

• Alert Only: sends warnings without closing trades.
• Close Positions: closes positions within the selected scope after a configured limit is breached.
• Close Positions and Delete Orders: closes scoped positions and removes scoped pending orders after a breach.

The panel also includes a two-click CLOSE EXPOSURE button for deliberate emergency position closing and an optional UNLOCK button.

Important Notes

• Start with Alert Only mode on a demo account.
• Configure the daily reset hour according to your broker server time.
• Automatic actions require Algo Trading to be enabled in MetaTrader 5.
• Filters apply to exposure monitoring and protection actions. Account equity drawdown remains account-wide.
• Daily realized P/L and the daily trade count are account-wide.
• Different evaluation providers use different drawdown rules. Configure the inputs according to your own requirements.
• Test your settings carefully before using automatic protection on a live account.

Input Parameters

Account Drawdown Limits

• InpInitialBalance — Starting balance used for overall drawdown calculations. Set to 0 to use the current account balance when the utility initializes its saved state.
• InpDailyLossLimitPercent — Maximum permitted daily drawdown percentage.
• InpOverallLossLimitPercent — Maximum permitted overall drawdown percentage.
• InpDailyReference — Daily drawdown reference: starting value or trailing high watermark.
• InpOverallReference — Overall drawdown reference: starting value or trailing high watermark.
• InpDailyResetHourServer — Daily reset hour using broker server time, from 0 to 23.
• InpResetSavedStateOnLoad — Clears stored anchors and locks when the utility loads. Return this to false after resetting.
• InpWarningUsagePercent — Usage level that activates a warning state.
• InpCriticalUsagePercent — Usage level that activates a critical state.

Open Exposure Guard

• InpEnableOpenRiskGuard — Enables projected stop-loss exposure monitoring.
• InpMaxOpenRiskPercent — Maximum permitted projected open risk as a percentage of balance.
• InpRequireStopLoss — Displays positions that do not have a stop loss.
• InpEnforceMissingStopLoss — Activates a risk lock if a scoped position has no stop loss.
• InpMaxOpenPositions — Maximum scoped open positions. Set to 0 to disable this limit.
• InpMaxTotalLots — Maximum scoped total lot size. Set to 0 to disable this limit.
• InpMaxTradesPerDay — Maximum trades opened during the current risk day. Set to 0 to disable this limit.

Protection Actions

• InpProtectionAction — Select Alert Only, Close Positions, or Close Positions and Delete Orders.
• InpAllowManualUnlock — Enables the panel unlock button.
• InpMaxDeviationPoints — Maximum permitted deviation in points when closing positions.

Scope

• InpFilterByMagic — Monitors and manages only positions and orders matching the selected Magic Number.
• InpMagicNumber — Magic Number used when the Magic Number filter is enabled.
• InpFilterBySymbol — Monitors and manages only the selected symbol.
• InpSymbol — Symbol used by the symbol filter. Leave empty to use the current chart symbol.

Alerts

• InpPopupAlerts — Enables terminal popup alerts.
• InpPushNotifications — Enables MetaQuotes mobile push notifications.
• InpEmailAlerts — Enables email alerts configured in MetaTrader 5.
• InpSoundAlerts — Enables sound alerts.
• InpAlertSound — Sound file used for alerts.
• InpAlertCooldownSeconds — Minimum delay between repeated alerts.

Panel

• InpUpdateSeconds — Panel refresh interval in seconds.
• InpCorner — Chart corner used for panel placement.
• InpX — Horizontal panel position.
• InpY — Vertical panel position.
• InpBgColor — Main panel background color.
• InpCardColor — Dashboard card background color.
• InpFrameColor — Panel frame color.
• InpTextColor — Main text color.
• InpMutedColor — Secondary text color.
• InpGoodColor — Safe-state color.
• InpWarnColor — Warning-state color.
• InpBadColor — Critical and locked-state color.

Recommended First Setup

1. Attach CasperIT Risk Guardian MT5 to one chart.
2. Select Alert Only mode.
3. Set the correct broker-server daily reset hour.
4. Configure your daily and overall drawdown limits.
5. Test alerts and calculations on a demo account.
6. Enable an automatic protection mode only after confirming the settings.