Prop Rules Monitor MT4
- Yardımcı programlar
- Sürüm: 1.0
Prop Rules Monitor MT4 is a free indicator for MetaTrader 4 that shows how close a prop-firm account is to its daily loss limit and its max loss. It reads live equity, the way firms measure it. It warns you before a limit and when a limit is broken.
It only watches. It never opens, closes or changes a trade, so it works without AutoTrading.
Standalone: Everything is built in. You do not need to buy or install any other product named on this page.
MetaTrader 4 edition: the same measurements, panel and inputs as the MetaTrader 5 version. MetaTrader 4 keeps orders, not deals: each closed order counts at its close time, with its profit, swap and commission. Like any MetaTrader 4 program, it sees the trades loaded in the Account History tab, so choose All History there (right-click the tab). The account size, the peaks and the trading days come from that history.
Quick start
- Attach the indicator to any chart.
- Enter your firm's rules: daily loss %, what it is measured from, the reset time zone and hour, and the max loss % and type.
- Set the account size (0 takes the first deposit) and, if you like, the profit target.
- Choose the warning level. Turn on the pop-up and, if MetaTrader push is set up, the push notification.
What you see
- Daily loss limit: day start, floor, room left, % used with a bar, and the time to the reset.
- Max loss: floor and room left, static or trailing.
- Account size, equity, progress to the profit target, today's result and trading days.
- Status: OK, WARNING or BREACHED.
How it measures
- Day start: taken at your firm's reset, a time of day in a time zone (Prague, New York, UTC, UTC+3, London or server time). Daylight saving is handled.
- Daily limit: a % of the account size or of the day start. It is measured from the balance, the equity or the higher of the two at the reset.
- Max loss: static, or trailing from the highest equity, the highest closed balance or the highest end-of-day balance. It can stop at the account size. A two-stage type is also available.
- Terminal off: if it was off at the reset, the day start is rebuilt from the account history. The panel says "rebuilt".
- Peaks and the day start are kept across restarts.
Alerts
At a warning level (default 80% of a limit used) and at a breach, you get a pop-up and a push notification. The daily limit alerts once per day.
Inputs
| Input | Default |
|---|---|
| Daily loss limit % | 5; limit is - % of the account size; measured from - balance at the reset |
| Day resets in time zone / at hour | Central Europe (Prague) / 0 |
| Max loss % | 10; max loss type - static; trailing floor stops at the account size - off |
| Account size | 0 (first deposit); profit target - 10%; minimum trading days - 4 |
| Warn at % used | 80; pop-up - on; push - off |
| Panel position, margins, font size, light colours; broker server clock (auto) | - |
How it was checked
- Rule engine: a test EA traded in the MetaTrader 4 Strategy Tester on EURUSD, GBPJPY, XAUUSD and BTCUSD. It used four daily resets: 00:00 Prague, 17:00 New York, 22:00 London on a server on Eastern European time, and server midnight. It made 61,411 trading operations, including partial closes and stop-loss closes. At 33,970 moments, an independent Python calculation from the raw orders checked the day start, each day's closed result and the trading days. It also checked the account size, the highest balance, the highest end-of-day balance and consistency. All matched.
Related products
- Prop Rules Monitor: the same indicator for MetaTrader 5.
- Prop Rules Guard MT4: a separate Expert Advisor for MetaTrader 4 that closes trades at a limit. It adds firm presets, a consistency tracker, news windows and floating-loss caps.
- All my products on MQL5
Questions
- Does it close trades? No. It only shows and warns.
- Which firms? Any. Type your firm's rules once in the inputs.
- Does it need AutoTrading? No.
If it helps your trading, a short review on this page helps other traders find it.
Questions: use the comments on this page or send me a message on MQL5.
Trading involves risk. The Monitor shows measurements of your account against limits you enter; check them against your firm's own dashboard.
