ZyloFx Prop Guard Manager MT4

ZyloFx Prop Guard Manager MT4 is a professional account protection utility for MetaTrader 4, designed for traders who need disciplined control over daily and overall drawdown.

This Expert Advisor does not open trades, does not provide entry signals, and does not use any trading strategy. Its purpose is to work as a protective layer on your trading account by monitoring equity, balance, floating profit and loss, open positions, pending orders, and configured loss limits in real time.

It is especially useful for prop firm traders, challenge accounts, evaluation accounts, and personal trading accounts where daily loss and overall loss limits must be respected with precision.

When the configured daily loss or overall loss percentage is reached, the utility can automatically close open positions, delete pending orders, and activate a lock to help prevent additional exposure.

Main Features

• Daily Drawdown Protection: Monitors daily drawdown using the selected calculation mode, including day start equity, day high equity, or initial balance reference.
• Overall Drawdown Protection: Tracks total account drawdown from the initial balance reference, which can be detected automatically or entered manually by the user.
• Automatic Trade Closing at Limits: Can automatically close open market positions when the configured daily or overall loss limit is reached.
• Pending Order Protection: Can delete pending orders when a daily or overall loss limit is reached, helping reduce unwanted exposure after a lock event.
• New Trade Blocking After Limit: After a daily or overall lock is active, the utility can continue monitoring the account and close new trades that appear while protection is active.
• Broker Time or New York Time Reset: Allows the daily protection reset to follow either broker server time or New York time, depending on your account rules.
• Manual Dashboard Controls: Includes on-chart controls such as Close All, Delete Pending, Lock Day, Unlock Day, Unlock All, and Reset Day.
• Clean Professional Dashboard: Displays daily drawdown, overall drawdown, floating profit and loss, equity, drawdown pressure, daily room, overall room, open positions, and trade count.
• Evaluation Tracker: Helps monitor challenge-style progress, including profit target percentage, trading days, and profitable days. This feature is informational only.
• Optional Symbol and Magic Number Filters: Allows users to focus selected management actions on specific symbols or specific magic numbers when needed.
• Notifications: Supports terminal alerts, push notifications, and email notifications for important protection events, depending on the user’s MetaTrader settings.

How It Works

• Attach the utility: Place ZyloFx Prop Guard Manager MT4 on one chart inside the account you want to protect.
• Set the daily loss limit: Define the maximum daily loss percentage allowed for your account.
• Set the overall loss limit: Define the maximum total account drawdown percentage allowed.
• Choose the daily calculation mode: Select whether daily drawdown should be calculated from day start equity, day high equity, or initial balance.
• Choose the initial balance mode: Let the utility detect the initial balance automatically or enter it manually.
• Select the closing behavior: Decide whether open positions should be closed when a daily or overall limit is reached.
• Select pending order protection: Decide whether pending orders should be deleted when a limit is reached.
• Choose the reset time: Select whether the daily reset should follow broker time or New York time.

Once configured, the utility monitors the account continuously. If the account reaches the daily loss limit, it can close open positions, delete pending orders, and activate a daily lock. If the account reaches the overall loss limit, it can activate an overall lock according to your settings.

Daily Reset Mode

• Broker Time: The daily protection resets according to the broker server time.
• New York Time: The daily protection resets according to New York time, which is useful for traders and prop firm accounts that follow New York-based trading days.

Dashboard Information

• Status: Shows whether the account is in normal mode, warning mode, daily lock, or overall lock.
• Daily DD: Displays the current daily drawdown percentage.
• Overall DD: Displays the current overall drawdown percentage.
• Floating P/L: Shows the current floating profit or loss.
• Equity: Displays the current account equity.
• Drawdown Pressure: Shows visual pressure bars for daily and overall drawdown.
• Overview: Shows remaining daily room, overall room, open positions, trade count, and optional evaluation progress.
• Manual Actions: Gives access to optional manual controls directly from the chart panel.

Important Notes

• Risk-control utility only: This product is designed to monitor and enforce configured risk limits.
• No trade entries: It does not open trades or execute any trading strategy.
• No trading signals: It does not provide buy or sell signals.
• No market prediction: It does not predict price direction or future market movement.
• No profit guarantee: It does not guarantee profits or prevent all possible losses.
• No challenge guarantee: It does not guarantee passing any prop firm challenge or evaluation.
• Terminal-based calculations: All calculations are based on information available inside the MetaTrader 4 terminal.
• Rule differences: Brokers and prop firms may calculate drawdown, equity, balance, trading days, or rule violations differently.

Recommended Use

• Attach to one chart only: One instance is usually enough to monitor the account.
• Enable AutoTrading: AutoTrading must be enabled in MetaTrader 4 for the utility to close positions or delete pending orders.
• Use correct limits: Configure the daily and overall loss percentages according to your account rules.
• Select the correct reset mode: Choose broker time or New York time depending on the rules of your broker or prop firm.
• Test on demo first: Always test your configuration on a demo account before using the utility on a live or funded account.
• Keep the utility running: The tool must remain active while you trade manually or use other Expert Advisors.

Risk Disclaimer

• Trading involves risk: This product can help enforce configured limits, but it cannot eliminate trading risk.
• Execution is not guaranteed: Trade closing depends on market conditions, broker execution, liquidity, slippage, spread, terminal connection, and VPS stability.
• User responsibility: The user is responsible for configuring the product correctly according to the rules of their broker, prop firm, or personal trading plan.
• No liability: The author is not responsible for losses, rule violations, account termination, or incorrect use of the product.

ZyloFx Prop Guard Manager MT4 was created for traders who want more discipline, clearer account control, and a professional protection layer inside MetaTrader 4.