Daily and Max Loss Protector

What this tool does

Daily and Max Loss Protector is a protective account monitor for traders on prop firm challenge or funded accounts (built with common prop firm evaluation rule methodology in mind, and adjustable to match similar rules from other firms). It continuously tracks your account against:

• Daily loss limit — measured from your account BALANCE at the start of each trading day (matching how many prop firms calculate this, rather than a simplified equity-only approximation)
• Maximum overall loss limit — a static floor calculated from your original starting capital, which does not trail upward as you profit (matching common prop firm evaluation methodology)
• Optional profit target — automatically locks in and stops trading once your target is reached, so a challenge pass isn't accidentally given back

When any limit is approached, the tool automatically closes all open positions and pending orders (configurable: everything on the account, or only a specific magic number). While halted, it continues monitoring every tick — if any new position appears (from manual trading or any EA) while the halt is active, it is closed again immediately. The halt lasts until the next trading day for the daily limit — or permanently, in the case of the static max-loss or profit target limits, until manually reset.

Note: no software can prevent a broker from accepting a new order in the first place — this tool cannot block an order from opening. What it does is detect and close it again within moments of it appearing, for as long as the halt is in effect.

Key features

• Daily reset hour can be auto-detected using EU/US daylight-saving calendar rules, so the "trading day" boundary matches your prop firm's actual day rollover rather than an approximate fixed hour
• Works with manual trades or any other EA's trades — not limited to positions it opened itself (this tool never opens trades of its own)
• State is stored in terminal global variables, so protection persists across EA restarts or terminal reboots — it doesn't forget where it is in the day if the platform restarts
• Retry logic on closing positions/orders (handles transient broker rejections rather than failing silently)
• On-chart dashboard showing live distance to each limit
• Optional popup and push notification alerts on any trigger

Compatibility note

This tool's daily reset-hour auto-detection assumes a broker server time convention of GMT+2/GMT+3 on US daylight-saving dates (a common convention, matching how many prop-firm-oriented brokers run their servers). If your broker uses a different convention, disable auto-detection and set the reset hour manually to match your broker's actual day boundary.

What this tool does NOT do

• It does not open trades of its own — it is a protective monitor, not a trading strategy
• It cannot guarantee a breach will never happen — execution takes a small amount of time, and extreme volatility, slippage, or gaps can move price past a limit faster than any automated system can close a position. This tool significantly reduces that risk; it does not eliminate it
• It does not replace reading and understanding your specific prop firm's actual rules — always verify your firm's exact daily reset time, loss calculation method, and rule specifics, and configure the inputs to match

Other EAs running on other charts

By default, this tool cannot stop other Expert Advisors on other charts from opening new trades — while halted, it will keep closing any new position or pending order it detects, but another EA can keep trying to open new ones, and each cycle costs a small amount in spread/slippage.

Optional stronger response: enable InpCloseOtherCharts = true to have the tool forcibly close every other open chart in the terminal when a halt triggers. Closing a chart terminates whatever EA or indicator was running on it — this stops other EAs from opening new trades at all, not just reactively closing them afterward.

Important if you enable this: it closes chart windows, not just positions — any chart layout, indicators, or unsaved template changes on those charts will be lost until manually reopened. It is OFF by default since this is a disruptive action you should explicitly opt into. This tool's own chart is always left open so it keeps monitoring.

For anyone writing their own EA to run alongside this tool instead: it also publishes a shared status flag other EAs can check to voluntarily avoid opening new trades while halted:

if(GlobalVariableCheck("DailyMaxLossProtector_Locked") && GlobalVariableGet("DailyMaxLossProtector_Locked") > 0.5) return;

This only works for EAs that explicitly check this flag.

Recommended use

• Configure InpInitialCapital, loss/target percentages (or fixed $ amounts for tighter control), and reset hour to match your specific prop firm's rules exactly
• Test on a demo account first to confirm the reset hour and flattening behavior match your expectations before relying on it for a real evaluation or funded account
• Works well alongside any trading EA or manual strategy as a safety net, not a replacement for your own risk discipline

Chart/symbol recommendation

Attach this EA to a chart of a 24/7-traded symbol (e.g., BTCUSD) rather than one that closes on weekends, if your broker offers one. This isn't strictly required — the tool's timer-based checks should continue running regardless of the attached chart's own tick activity, as long as the terminal stays connected — but it adds a second, independent tick-driven check path as extra redundancy, and matters most if your account also holds any continuously-traded position (e.g. crypto) whose floating P&L keeps moving over the weekend.

Disclaimer — please read before use

• Test this tool thoroughly on a demo account before relying on it for any real or funded account. Verify the reset-hour setting matches your broker, and confirm the daily/overall loss values match your specific account's actual rules.
• This tool is provided as-is, free of charge, with no warranty of any kind. The developer is not responsible for any monetary loss, missed trades, account breaches, or other damages resulting from its use, misuse, misconfiguration, or failure to perform as expected.
• Automated monitoring tools can fail due to factors outside their control: internet or platform connectivity loss, broker-side execution delays, slippage during volatile conditions, incorrect input configuration, or running multiple conflicting instances. You are solely responsible for your own risk management and for independently verifying your account's actual compliance with any third-party rules.
• By using this tool, you accept full responsibility for any outcome.