Balance Guardian EA 1.0
Metatrader Expert Advisor (MT4/MT5)
This Expert Advisor constantly monitors the balance and P/L of your trading account to prevent costly drawdowns and/or take profits. When a certain drawdown or profit target is reached, the EA will alert, close all trades and in some cases, delete all pending orders. Optionally, it can also close all charts to remove all EAs operating in the account.
The following features are implemented and can be enabled or disabled at will:
- P/L Maximum Loss
- P/L Profit Target
Other benefits are:
- Dead easy to use
- It implements alerts of all kinds
- Reports to the terminal
- It executes every tick and displays information on the chart
- It monitors all trades and magic numbers on the account
- It can be used with the investor password and will monitor and alert on breaches
How to get started:
- Load the EA once a single chart
- Do not load the EA in other chart
- Customize your events and setttings
- Leave the EA alone and never close that chart
When loading the expert to any chart, you will be presented with a set of options as input parameters. Don't despair if you think they are too many, because parameters are grouped into self-explanatory blocks.
- Profit Target
- The profit target for the account expressed in percentage. A value of zero disables this feature.
- Maximum Loss
- The maximum loss possible for the account expressed in percentage. A value of zero disables this feature.
- Stop EAs on Max Loss
- Choose if automated trading must be stopped when the max loss is reached.
- Stop EAs on Profit Target
- Choose if automated trading must be stopped when the profit target is reached.
- Alert Name
- Custom alert name for the alert messages.
- Display Alerts
- Enable or disable visual alerts.
- Email Alerts
- Enable or disable email alerts.
- Push Alerts
- Enable or disable push alerts.
- Sound File
- Name of sound file to play on visual alerts.
- Label Color
- Color of the text objects on the screen.
- Maximum slippage in points to close trades.
- Can I run this EA with investor password and get alerts only?
- Yes, the EA can monitor any account with investor password. It won't be able to close trades but it will alert when the trading rules are breached.
- Does the expert advisor affect pending orders?
- Yes. Pending orders are closed when all trading needs to be halted.
- Is there any lag between the drawdown and the closing of trades?
- No, there is not. The EA logic is executed every tick.
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