DroneOx Equity Guardian: Automated Equity Protection
Info
The DroneOx Equity Guardian: Automated Equity Protection is a Expert Advisor for MetaTrader 4 that droneox equity guardian is an expert advisor designed to automatically manage your trading account by closing all open orders and disabling automated trading when specific equity levels are reached. This EA can be attached to any symbol and on any timeframe.
Usage
This tool is typically used for automated trading on major forex pairs and gold.
Platform
This Expert Advisor works exclusively on MetaTrader 4 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL4/Experts folder via File ? Open Data Folder in MetaTrader 4.
How to Install and Use DroneOx Equity Guardian: Automated Equity Protection
1. Installation: Open the "File" menu, select "Open Data Folder," navigate to MQL/Experts, paste your file, and restart the terminal.
2. Activation: Drag the EA from the Navigator onto a chart, ensure "Allow live trading" is checked in the Common tab, and verify the AutoTrading button is green.
3. Optimization: Right-click your chart, choose "Expert List," click "Properties" to adjust inputs, and save your preferred setup as a set file for future use.
4. Maintenance: Regularly check the "Experts" tab in the terminal window to monitor trade logs and potential execution errors.
Frequently Asked Questions
Q: Why is my EA not opening trades? A: Check the "AutoTrading" button, ensure "Allow live trading" is enabled, and verify your broker allows automated trading on your account type.
Q: Can I run multiple EAs on one chart? A: No, each chart can only host one active EA; however, you can open multiple charts for different currency pairs to run several EAs.
Q: What does the "smiley face" icon mean? A: A smiley face in the top-right corner of the chart indicates the EA is successfully running; a frowny face means it is disabled.
What this tool does
DroneOx Equity Guardian is an Expert Advisor designed to automatically manage your trading account by closing all open orders and disabling automated trading when specific equity levels are reached.
Typical Use Case
This Expert Advisor excels in automated trading and technical analysis on MetaTrader 4.
Compatible Platform & Setup
This Expert Advisor works on MetaTrader 4. Place the file in the MQL4/Experts folder and restart the terminal.
Description & Settings
Related: equity tester - another powerful expert for MetaTrader 4 traders.
DroneOx Equity Guardian is an Expert Advisor designed to automatically manage your trading account by closing all open orders and disabling automated trading when specific equity levels are reached.Also recommended: equity data exporter - similar expert with strong performance on MetaTrader 4.
This EA can be attached to any symbol and on any timeframe.
Key Features:
- Equity Take Profit: Set a desired equity target in USD. When your account equity reaches this level, the EA will automatically close all existing orders and disable automated trading. This allows you to secure profits and manually restart your trading activities.
- Equity Stop Loss: Define a maximum acceptable equity loss in USD. If your account equity drops to this level due to trading losses, the EA will intervene by closing all open orders and disabling automated trading. This crucial feature helps protect your capital from margin calls and further losses caused by malfunctioning Expert Advisors.
The system is designed to provide a safety net, ensuring your equity is protected against significant downturns or in preparation for profit withdrawal.
You may also like: equity recorder for synthetic instrument research - excellent alternative for expert users on MetaTrader 4.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property version "1.00"
#property strict
#include <winuser32.mqh>
extern string eaname="equity guardian";
extern string copyright="droneox";
extern bool closeorder=true; //close all order
extern bool disableexpert=true; //disable expert advisor
extern double equitytarget=999999; //equity take profit (usd).......
⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.