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Attachments: Equity Guardian EA
Exit Attachments

Equity Guardian EA

Quoting dokopy
{quote} It is possible to turn off all other EAs without turning off automatic trading. Just switch to a profile where there is no EA. Or switch to a profile where there is only an EA that closes all positions.
That doesn't turn off all other EAs, that removes all other EAs...bit of an overkill, don't you think?
"Pips are vanity. Profit is sanity."
Quoting Toppi
Hit trigger for the first time. I wonder about trailing profit is 0.03% Settings I have put 1% {image} Next step {image} Step 3 {image} Finish {image}
The 0.03% would be correct as that is the trigger kikcing in, but the others aren't railing as expected. I'll take a look at it.
"Pips are vanity. Profit is sanity."
Quoting PaulDV
{quote} That doesn't turn off all other EAs, that removes all other EAs...bit of an overkill, don't you think?
It's a reliable way to close all EAs and all positions. And don't cut the tree I'm sitting on.
Please excuse the bad English via Google Translate.
Quoting dokopy
{quote} It's a reliable way to close all EAs and all positions. And don't cut the tree I'm sitting on.
Sorry, but I don't see why this would be better.
"Pips are vanity. Profit is sanity."
Quoting Toppi
Hit trigger for the first time. I wonder about trailing profit is 0.03% Settings I have put 1% {image} Next step {image} Step 3 {image} Finish {image}
OK, I've reviewed the trailing profit, and it looks like it's working as intended.

Two things to bear in mind:

  1. The market is always moving, so the values/percentages specified will not be exact because by the time the EA reacts, the market has already moved in one direction or the other.
  2. The Step value is used to give the basket some breathing space, and when triggered, the trailing profit will be moved up, not by the Step, but by the Distance.

So, a move in the trailing step may get triggered, but the market will have moved, so when the trail is moved, is may be more or less than the specified Step amount.

I hope this makes sense.

"Pips are vanity. Profit is sanity."
HI Paul,
Congats for this EA Equity and sharing it
I used it specially for shutdown "AutoTrading button" inMT4 when loss limit reached...it works (close all trades pending) but when MT4 receives a new order from my alert TradingView, the order is still placed while I wish not placed because that AutoTrading is disabled (Note that when the loss limit is reached, "AutoTrading button" in MT4 still ON)

See my parameters in attached file

Thanks for your help

Nico
Attached Image (click to enlarge)
Click to Enlarge Name: EA Equity Guardian1-3_parameters.jpg Size: 164 KB
Quoting Nico74
HI Paul, Congats for this EA Equity and sharing it I used it specially for shutdown "AutoTrading button" inMT4 when loss limit reached...it works (close all trades pending) but when MT4 receives a new order from my alert TradingView, the order is still placed while I wish not placed because that AutoTrading is disabled (Note that when the loss limit is reached, "AutoTrading button" in MT4 still ON) See my parameters in attached file Thanks for your help Nico {image}
Are you saying that the info panel shows "Auto Trading is disabled" but the Auto Trading button is still on?

If not, can you check the Journal or Experts tab in the Terminal? You should see something like this:
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 7 KB


Where it says "Automated trading disabled" - that should be Equity Guardian turning off the button.

If you see "Automated trading enabled" after tha, then something else is turning the Auto Trading button back on again...probably another EA.
"Pips are vanity. Profit is sanity."
Many thanks to the author for that great tool! Do you have a plan to make it for mt5?
Observer effect
Quoting ryuryu
Many thanks to the author for that great tool! Do you have a plan to make it for mt5?
What's the point of using MT5 when everybody is using MT4. There are plenty of EAs and indicators for MT4. I've tried MT5, it's full of bugs.
Quoting PaulDV
{quote} Are you saying that the info panel shows "Auto Trading is disabled" but the Auto Trading button is still on? If not, can you check the Journal or Experts tab in the Terminal? You should see something like this: {image} Where it says "Automated trading disabled" - that should be Equity Guardian turning off the button. If you see "Automated trading enabled" after tha, then something else is turning the Auto Trading button back on again...probably another EA.
Hi Paul,
Thanks for replying....indeed, there is TradingConnector EA turning during my session (mandotory for connecting TradingView and my MT4)

BUT in the Expet tab, I saw an error
2020.06.19 10:05:17.430 Cannot call 'user32.dll::GetAncestor', DLL is not allowed

So I check the "allowed import DLL".....I have to re-test it ;-)
Paul,

Have you considered adding a news filter to your Equity Guardian EA? This would obviously be redundant with your MoTuBo_EA but I can see it being useful with other EAs that don't handle news events very well.
Quoting pantera1
Paul, Have you considered adding a news filter to your Equity Guardian EA? This would obviously be redundant with your MoTuBo_EA but I can see it being useful with other EAs that don't handle news events very well.
This sounds like a good idea to me.
Quoting pantera1
Paul, Have you considered adding a news filter to your Equity Guardian EA? This would obviously be redundant with your MoTuBo_EA but I can see it being useful with other EAs that don't handle news events very well.
Hmmm...I haven't no. And to be completely blunt, I don't see the point.

I don't see how a news filter would work with this EA - this just monitors equity and doesn't interfere with trades opened either manually or by other EAs...could you elaborate on how you see a news filter working?
"Pips are vanity. Profit is sanity."
  • Post #94
  • Quote
  • Edited 11:31am Jun 22, 2020 11:00am | Edited 11:31am
Hello Paul. Thanks for the improvements on the equity Guardian EA so far. Kindly look into this observation I made today. Initially I had set my profit target to 20% on demo account. And, at a point during trading, I realized I could achieve 25% profit target easily. So I decided to change it to 25%, but noticed that it still showed 20% on my chart(information panel). That on it's own may be a bug. But further more, since it didn't reflect the change I made on the chart(information panel), I opened same version of the equity guardian to input the values afresh, but all my open trades just got exited immediately(prematurely) even without achieving the initially 20% profit target.
Quoting PaulDV
{quote} Hmmm...I haven't no. And to be completely blunt, I don't see the point. I don't see how a news filter would work with this EA - this just monitors equity and doesn't interfere with trades opened either manually or by other EAs...could you elaborate on how you see a news filter working?
Paul, I understand what you're saying. My thought was, impactful news events can often have a very negative effect on EA generated equity. A news filter would turn off "auto trading" temporarily. That could prevent a drawdown in equity that would trigger the Equity Guardian from shutting the EA down and closing all trades.

Also, I tried using Equity Guardian with with the Profit Target set to zero but it immediately closed all trades without the Loss Limit being anywhere close to my setting.

Thanks Paul. Keep up the good work!
it count be nice addition to
trailing sl and tp
using ATR (dynamic trailing)
Everything flows. Learn to Earn.
Quoting timidave
Hello Paul. Thanks for the improvements on the equity Guardian EA so far. Kindly look into this observation I made today. Initially I had set my profit target to 20% on demo account. And, at a point during trading, I realized I could achieve 25% profit target easily. So I decided to change it to 25%, but noticed that it still showed 20% on my chart(information panel). That on it's own may be a bug. But further more, since it didn't reflect the change I made on the chart(information panel), I opened same version of the equity guardian to input the...
Ouch, sorry about that...definitely not what it should be doing.

I'll take a look and see if I can spot how this could happen.
"Pips are vanity. Profit is sanity."
Quoting pantera1
{quote} Paul, I understand what you're saying. My thought was, impactful news events can often have a very negative effect on EA generated equity. A news filter would turn off "auto trading" temporarily. That could prevent a drawdown in equity that would trigger the Equity Guardian from shutting the EA down and closing all trades. Also, I tried using Equity Guardian with with the Profit Target set to zero but it immediately closed all trades without the Loss Limit being anywhere close to my setting. Thanks Paul. Keep up the good work!
Oh I see. The issue with that is that although it might stop other EAs from opening more trades, it won't then be able to do anything if the equity on existing orders DOES take a dive - pretty much circumventing the purpose of the EA.

Re the closing of the trades, that looks like a scenario I hadn't thought of, so I'll look into that and get back to you.
"Pips are vanity. Profit is sanity."
Quoting ecryptom
it count be nice addition to trailing sl and tp using ATR (dynamic trailing)
What?
"Pips are vanity. Profit is sanity."
dynamic trailing Stop loss
and
dynamic trailing take profit
using ATR

example
use 1 day candle , xx pair , atr (14) = 80
1.5 x ATR SL = 120 pips
2 x ATR TP = 160 pips

use 4h candle , yy pair , atr (14) = 22
1.5 x ATR SL = 33 pips
2 x ATR TP = 44 pips

why you do that ? ... in each pair are in diff market conditions ..
if you put in all the same Stop Loss and Take profit .. in 1, 2 pairs may be ok
in others too tide in others to large ...
each pair must have its own SL and TP
dynamic trailing Stop Loss and Take profit can help ...
ATR is one way ... there also others ..

the above are just examples ... no trade advice
backtest to find your sweet point ...
Everything flows. Learn to Earn.
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