AS Q Risk Guard Professional Risk Management EA
This is a powerful addition to your MetaTrader 5 toolkit designed to optimize market analysis and performance. This Expert Advisor serves as automated trading software. It is utilized to monitor financial markets and execute trades based on predefined algorithmic rules, enabling precise position management without the need for constant manual oversight.
How to Setup and Use AS Q Risk Guard Professional Risk Management EA
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.
Description & Settings
Equity drawdown protection
— close positions when drawdown exceeds threshold (% or $)
Daily loss limit
— cap losses per trading day with automatic trading disable
Trailing max drawdown
— measure DD from peak equity (ideal for prop firm rules)
Session filter
— block trading outside allowed hours, optionally close positions
Spread guard
— prevent entries during high-spread conditions
Auto lot sizing
— fixed lot, risk % of balance, or risk $ per trade
Position limits
— max open positions, max total lots, max orders per day
Multi-channel alerts
with warning at configurable % of limit
On-chart risk dashboard
with color-coded status (safe / warning / danger)
Magic number filter
— protect specific EAs or monitor all
Event logging
to file for audit trail Installation
Copy ASQ_RiskGuard.mq5 to your MQL5/Experts/ folder
Compile in MetaEditor or restart MetaTrader 5
Attach to any chart and enable
Allow Algo Trading
RiskGuard monitors ALL positions on the account (or filter by magic number) How to Configure
Set Max Drawdown
— 5% (default). When equity drops 5% from balance, positions are closed
Set Daily Loss Limit
— 3%. Max loss per day before trading is disabled
Choose DD Base
— "From Balance" (standard) or "From Peak Equity" (trailing, for prop firms)
Choose Close Method
— Close All (safest), Close Losers Only, or Close Largest Loser
Session Filter
(optional) — Restrict trading to specific hours (e.g. 08:00–20:00)
Spread Guard
(optional) — Block entries when spread exceeds threshold
Set Warning at 80%
— Receive alerts before limits trigger Prop Firm Tip
Set
DD Base
to From Peak Equity and configure your firm's max drawdown percentage. RiskGuard will track your high-water mark and protect you automatically — works with Bulenox, FTMO, TopStep, and similar rules.
Key Parameters Alert System
RiskGuard sends alerts through multiple channels when limits are approached or triggered:
Popup
alert on screen (default: on)
Sound
alert with custom .wav file (default: on)
Push notification
to mobile (default: off)
Early warning
at 80% of limit before positions are closed Author
AlgoSphere Quant
Precision before profit.
