Prop Firm Daily Loss Guardian

Prop Firm Daily Loss Guardian

Prop Firm Daily Loss Guardian is a lightweight risk-management utility for MetaTrader 5. It displays a clear on-chart “traffic light” status panel for your daily loss usage and can optionally enforce a hard stop by closing newly opened positions once a critical drawdown level is reached.

The tool is designed for traders who want an immediate, visual understanding of when to reduce risk and when to stop trading for the day.

Key Features

• On-chart status panel with traffic light states: Green, Yellow, Red, and Breached

• Configurable daily loss limit:

  • Fixed currency amount

  • Percent of start-of-day balance or equity

  • Prop-firm style percent mode

• Flexible loss calculation basis:

  • Equity drawdown from start-of-day

  • Closed PnL only

  • Combined (closed and floating logic)

• Clear warning thresholds:

  • Yellow warning (default 50%)

  • Red critical alert (default 85%)

• Optional protection modes:

  • Warnings only (no enforcement)

  • Hard block behavior: automatically closes newly opened positions after Red is triggered

• Visual red alert styles:

  • Screen border

  • STOP badge

  • Both

• Daily reset options:

  • Broker day reset (server midnight)

  • Custom reset time

• Manual override switch (temporarily disables enforcement)

• Adjustable UI position, scale, and opacity

• Optional sound alert on state change

How It Works

1. At the daily reset time, the utility captures the start-of-day equity and balance.

2. It continuously calculates the current daily loss according to your selected loss basis.

3. It converts the loss into a usage percentage of your daily loss limit.

4. It updates the panel state:

   • Green: below the yellow threshold

   • Yellow: at or above the yellow threshold

   • Red: at or above the red threshold

   • Breached: at or above 100%

5. If Hard Block is enabled and Red is active, newly opened positions can be automatically closed after a short grace period.

Inputs Overview

Risk Settings

• Daily loss mode (currency or percent)

• Daily loss value

• Yellow threshold (%)

• Red threshold (%)

Time Settings

• Reset method (broker day or custom time)

• Custom reset hour/minute

Calculation Basis

• Loss basis (equity drawdown, closed PnL, combined)

• Use equity or balance as basis for percent calculations

Protection

• Protection mode (off/soft/hard)

• Hard block scope (current symbol or all symbols)

• Grace period (ms)

• Max closure attempts

Visual / UI

• Panel corner

• Panel scale

• Opacity

• Red alert style

• Sound enabled + sound file

Manual Override

• Disable enforcement while keeping the display active

Update Frequency

• Panel refresh interval (ms)

Notes and Recommendations

• This utility is intended as a risk-control layer. It does not generate trade signals.

• The hard-block mechanism reacts to newly detected positions after the Red trigger. Use the grace period to avoid unintended closures from race conditions during fast execution.

• For the most reliable behavior, keep the update interval reasonable (default values are suitable for most use cases).

Support

If you have questions, configuration issues, or feature requests, please use the product comments section on MQL5.com or message me via the built-in MQL5.com messaging system.