Account Protector is a risk management expert advisor for MetaTrader 4 and 5 designed to monitor account health and prevent excessive drawdowns. It allows users to set specific triggers based on floating profit or loss, equity levels, free margin, spread, or daily performance. When these conditions are met, the EA auto
Risk & protection · MT5
Equity Protector
Equity Protector is an account management utility for MetaTrader 5 designed to safeguard capital against significant drawdowns.
GitHub stars3
Forks0
Last update2 years ago16 Sep 2024
LicenceNone stated
Overview
Equity Protector operates by monitoring account equity and balance at a user-defined frequency, such as every second. When the floating loss reaches a specified percentage or limit, the utility automatically closes all active trades and deletes pending orders. This tool serves as an emergency circuit breaker to enforce risk limits and prevent further losses once a daily threshold is breached. It includes logic to detect the account currency and current day.
- Automated position and order closure
- Real-time equity and balance monitoring
- Customizable drawdown percentage limits
- Configurable update frequency
- Support for multiple account currencies
Details
Author
sacrosK11 on GitHub
Type
Risk & protection
Platform
MetaTrader 5 (MQL5)
Markets
Any symbol
Timeframes
Any timeframe
Risk profile
No grid, martingale or hedging logic was found in its code or README. That says nothing about how it performs: backtest it first.
EA files
Input parameters
Read from EquityProtector.mq5. Defaults are the author's; change them in the EA's Inputs tab.
| Name | Type | Default | Description |
|---|---|---|---|
equityLimit | double | 2 | |
updateFrequency_seconds | int | 1 | |
protector | bool | true |
How to install it
- 1Download the sourceUse "Download source (.zip)" above, or clone sacrosK11/Equity_Protector from GitHub, and unzip it.
- 2Open the data folderIn MetaTrader choose File, then Open Data Folder, and go to MQL5/Experts.
- 3Copy the filesCopy the .mq5 file into Experts.
- 4Compile in MetaEditorOpen the file in MetaEditor and press Compile. Fix any missing includes the compiler reports.
- 5Test before you tradeRun it in the Strategy Tester, then attach it to a demo chart and allow algorithmic trading.
Third-party code. ForexR did not write, test or endorse this EA, and the summary above was generated automatically from its README and code. ForexR lists only repositories with readable source code and never hosts files. Read the code, backtest it and use a demo account first; automated trading can lose money quickly.
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