Equity Guardian EA

Equity Guardian EA

This little EA is designed to protect your account from unexpected drawdowns and/or lock in profits.

Note:

1. It does NOT place orders.
2. It does NOT amend existing orders.
3. It can be used alongside any other EA or manual strategy that you care to use.

Features

1. Monitors EQUITY, not simply floating profit/loss.
2. Can monitor all trades, trades submitted by any EA or trades submitted by a specific EA.
3. Closes all monitored trades if equity falls below a specified loss limit (expressed in either an amount or a percentage of the opening balance)
4. Closes all monitored trades if equity reaches a specified profit target.
5. Can disable auto trading when close is triggered.

Example Information Panel

Parameters


The parameters should be self-explanatory, but for clarification:

Currency pairs

1. All pairs
2. Current pair only

Magic Number to Monitor for

1. 0 = None : The EA will monitor ALL trades regardless of their magic number.
2. -1 = All EA trades : The EA will monitor and control only trades submitted by an EA, i.e. trades opened manually will not be affected or included in the profit/loss calculations.
3. >0 = Only trades for the requested magic number will be monitored.

Date of opening balance
The date and time that EA is to calculate the initial balance from.

Refresh interval
How often the EA checks the equity (in seconds).

Close values

1. Percentage of balance - the profit and loss figures are a percentage of the initial balance.
2. Amount of money - the profit and loss figures are a specific amount (in the account currency).

Profit target
The profit point at which the EA will be triggered (e.g. 10% profit or $100 profit, depending on the Close Basis).
If set to zero, the EA will not check for a profit amount, and will never close while the account is in profit.

Loss limit
The loss point at which the EA will be triggered (e.g. 5% loss or $100 loss, depending on the Close Basis).
If set to zero, the EA will not check for a loss amount, and will never close while the account is in loss. THIS IS NOT RECOMMENDED!

Include commission?
Whether or not to include commission ans swap fees when calculating the current profit amount.

Close based on date/time?
Whether or not to close all trades (regardless of profit or loss) at a specific date and time.

Date and time to close
Self-explanatory.

Close pending orders?
Whether or not to close pending orders when the close is triggered.

Disable AutoTrading?
When set to true, the EA will disable AutoTrading when triggered.

Enable trailing profit?
Whether or not to enable the trailing profit feature.

Trailing profit trigger level
The point (in either percentage of opening balance or a specific amount - see Close values parameter) at which the trailing profit is triggered.

Trail profit by
The distance behind the current profit the trailing profit should be kept at.

Trailing profit step
The amount by which the trailing profit is to be moved each time.


Version 1.15:

1. New: Ability to close all trades every day at a specific time.
2. Removed expiry date.

Version 1.142:

1. Expiry date extended to end December 2022.

Version 1.141:

1. Expiry date extended to end June 2021.

Version 1.14:

1. Tidy up processing around profit target being hit.
2. Don't check if profit target has been reached if set to zero.
3. Don't check if max loss reached if zero.

Version 1.13:

1. Bug fix: stop current trailing profit resetting itself.
2. Bug fix: when resetting by turning on AutoTrading, use today's date for calculation of opening balance.

Version 1.12:

1. Bug fix: corrected trailing profit function (properly this time!).
2. Corrected calculation of opening balance for new accounts.
3. Corrected the trigger for scheduled close.
4. Added details to notifications.

Version 1.11:

1. Bug fix: stop crash on new accounts.
2. Bug fix: corrected trailing profit function.

Version 1.10:

1. Added option to monitor just the current symbol.
2. Added option to close pending orders.
3. Added option to trail profit.
4. Added option to send notifications.
5. Added option to include commission and swaps in profit calculation.
6. Added option to trigger close on specific date and time.
7. Various changes to the information panel.
8. Corrected the calculation for the opening balance.

Version 1.00

Good job as always.

You run it only on monday? The default settings are the ones you are using?

Thanks buddy!

I assume that you're talking about this EA, yes?

I start it on Sunday evening (it can be earlier if you wish) with the Monday start date for the initial balance. Once it's active, it will stay active until the desired profit or loss is hit, and will then deactivate AutoTrading (if you have it set). After that, I simply wait until the weekend (or following Sunday) and then activate AutoTrading again, and the EA resets itself automatically, calculating the new balance as of the point you reactivate AutoTrading.

The settings are simply down to what profit target and loss limit you want to use.

So simple and at the same time very effective. Thank you very much for sharing.

One question, when closing at loss does it consider the closed/realized losses? What i mean say i don't want to lose more than 500$ after activating the ea, so when will all the orders get closed, at -500$ floating equity? Or, say due to stoploss already 200$ loss realized, so -300$ floating equity ea will close all orders?

Best Regards.

Thanks man. This will come in very handy. Looks easy to use also.

The loss you enter is the loss it will monitor for.

So, to use your example:
Opening balance is, say, $10,000.
You set max loss to $500.
The close won't trigger until your EQUITY (i.e. both realised and floating profit/loss) reaches $9,500.

So, if you have some trades that close, realising $200 profit, your balance will be at $10,200, but the EA is still looking to close if the EQUITY touches $9,500.

Hope this helps.

Amazing. Thank you.

Best Regards.

Paul, I have used it already and works great....

I am treating every day as a new day....is there anyway to have a parameter

"Start Guarding Equity at " " 0000(as an example)
"Close All Trades at = " " 2259(as an example)

Guardian then will start anew everyday and exit all trades at specific time, profit or loss.

thanks for the EA PaulDV. I think maybe this thread would be better placed in the 'platform tech' section

blam

I think you’re right, but I don’t seem to be able to find how to move the thread. Any ideas?

I reported it, and you’re still here

This is really cool. Well done Paul.

Yup, still here!

Could it have a time close, like close on next date 4 gmt in the morning whatever the prof or loss..
I have to wake up by alarm early in the morning to close trades.
Thanks and reggards

Already on the list of improvements!

thanks for posting this do yu have semi martingale ea?

Can we add 'partially trail stops' option for the orders eitherly to that EA.
And if we say false for' disable trade on close option',it would work uninterruptly isnt it

The next version includes a trailing profit option.

This works similar to a trailing stop, except that it keeps a track of profit, not stop levels.

e.g.:
Trailing profit trigger = $250
Trailing distance = $100
Trailing step = $10

In this example, when the profit hits $250, the trailing profit is triggered.
The trailing profit is moved to $100 behind the current profit ($150)
When the profit increases to $260 (so, +$10 - the 'step'), the trailing profit will be moved again to within $100 of the new profit ($160).

If the price retraces, and the profit falls below the trailing profit, the close is triggered.

You can set the profit target to zero, and use the trailing profit to lock in as much as possible.

No ı ment 'partial trail stops option for the orders merely