Equity Guardian EA

• Automatically close all trades at a set equity loss or profit.
• Delete pending orders to avoid unexpected future risk.
• Temporary or permanent stop for EAs after hitting thresholds.
• Flexible alerts: pop-up, email, and mobile notifications.
• Essential for prop challenge risk management and funded account protection.

How to Use

Let us give you an example of how Equity Guard EA works.

Attach EA to any blank Chart when you don’t have any existing trade. For example, your equity is 1000$ and you set EA’s input ‘Profit Type=In Currency’ and ‘Profit Value=5.0’. You start trading manually or with any other EA. When your current equity gain is 5$ (mean total equity 1005$), EA will close all trades and record the new equity as $1005. Again, your equity gains $5 from the last recorded equity, and EA triggers and closes all trades. EA uses a global variable to store previous equity, so if your MT4 closes or your VPS restarts, the EA will restore the equity from the global variable. You can change/modify recorded equity from the dashboard record equity input box.

Input Parameters

EA CONFIGURATIONS

• Stop EA: if true, EA will stop
• Profit Type: Select Profit Type
  • In Currency: Profit in currency.
  • In Percent: Profit in percentage based on account equity.
• Profit Value: Set your profit value. When your Profit Type=In Currency, this value is treated as a currency amount; it is treated as a percentage value.
• Loss Type: Select Loss Type
  • In Currency: Loss in currency.
  • In Percent: Loss in percentage based on account equity.
• Loss Value: Set your loss value.

DO THE FOLLOWING ON THE TRIGGER

• Close all Open Trades: if TRUE, EA will close all active trades.
• Delete all Pending Orders: if TRUE, EA will delete all pending orders.
• Disable External Other EA: if TRUE, EA will remove your external EA after the target profit/loss is hit. But to do that, you have to properly configure other settings. More Details.
• EA Stop After Trigger: Select the type and how long the EA stops after the trigger.
  • None: EA will not stop. It runs again after the trigger.
  • Stop EA For X-Minute: EA will stop for X-Minute and then run again.
  • Stop EA For This Day: EA will stop for the whole day. The next day, EA runs again.
  • Stop EA until Reset EA: EA will stop until you remove EA and attach it again.
• X_Minute: Put how long EA will stop after the trigger. Value is minutes.
• External_Chart_ID: Put External Chart ID (multiple values separated by commas).
• Template_Remove_Name: Remove EA’s template name (multiple values separated by commas).
• Restore External EA After Trigger: if TRUE, EA will restore your external EA after Equity EA is working again.
• Template_Restore_Name: Restore EA’s template name (multiple values separated by commas).

NOTIFICATION

• Enable Pop-Up Alerts: Enable text alerts.
• Enable Sound Alerts: Enable sound alerts.
• Send Email Alert: Enable email alert.
• Send Mobile Notifications: Enable mobile notifications.

BASIC CONFIGURATIONS

• Slippage: Set your trading slippage.

Keep In Mind (TWO IMPORTANT RULES)

STEP 1. Attach EA when you have no existing orders.

STEP 2. EA works with equity gain or loss. If you deposit/withdraw money while your trade is open and the Equity guard EA is working, the EA will treat it as an equity gain/loss and trigger. Example: you set an equity profit of $5 and your recorded equity was $ 1000, so the EA’s target equity is $1005. Now you have five open trades, and the floating loss is -50$. At this time, you deposit a new fund of $100, and your current equity is (Previous Equity (1000) + Floating Profit/Loss (-50) + New Fund (100) = 1050). In this scenario, your new equity exceeds your target equity. So EA will close all trades. But originally you have a loss of 50$. To avoid this type of situation, I recommend not depositing or withdrawing money while you have a trade open. If there is no trade, you can deposit or withdraw money; there is no problem. In case you need to deposit or withdraw money,y follow the below:

• Stop EA by input setting.
• Deposit/Withdraw Fund.
• Modify your record equity input value.
• Run EA by clicking the EA status button again.