How do I install this Expert on MetaTrader 5?

Download the file, open MetaTrader 5 -> File -> Open Data Folder, copy the file to the correct folder (Experts / Indicators / Scripts / Libraries), then restart the terminal.

How do I activate / load this Expert?

Drag the Expert Advisor from the Navigator panel onto a chart, enable AutoTrading, and allow live trading in the settings.

Is this compatible with MetaTrader 5?

Yes, this Expert is built specifically for MetaTrader 5.

Is this Expert safe to use with real money?

All tools are provided for educational and testing purposes. We strongly recommend testing on a demo account first. Trading involves significant risk of loss.

Can I use this Expert on multiple charts?

Yes, but each chart can only run one Expert Advisor at a time. You can run multiple EAs on different charts.

Can I customize the settings of this Expert?

Yes. Right-click on the chart and select properties to open and adjust parameters.

Free Daily Loss Guard: Hard Daily Loss Protection Expert for MetaTrader 5

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Daily Loss Guard: Hard Daily Loss Protection

Info

The Daily Loss Guard: Hard Daily Loss Protection is a Expert Advisor for MetaTrader 5 that daily loss guard: hard daily loss protectionthis tool provides robust protection against excessive daily trading losses. It implements a strict daily loss limit, automatically disabling trading once the specified threshold is reached.

Usage

This tool is typically used for automated trading on major forex pairs and gold.

Platform

This Expert Advisor works exclusively on MetaTrader 5 (both build 600+ and newer versions).

Setup

Place the downloaded file in MQL5/Experts folder via File ? Open Data Folder in MetaTrader 5.

How to Install and Use Daily Loss Guard: Hard Daily Loss 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

Daily Loss Guard: Hard Daily Loss ProtectionThis tool provides robust protection against excessive daily trading losses.

Typical Use Case

This Expert Advisor excels in automated trading and technical analysis on MetaTrader 5.

Compatible Platform & Setup

This Expert Advisor works on MetaTrader 5. Place the file in the MQL5/Experts folder and restart the terminal.

Description & Settings

Related: Prop Guard Lite: Daily and Max Loss Protection for Prop Firm Accounts - another powerful expert for MetaTrader 5 traders.

Daily Loss Guard: Hard Daily Loss Protection

Also recommended: Prop Firm Guard: Daily Loss and Max Drawdown Protection - similar expert with strong performance on MetaTrader 5.

This tool provides robust protection against excessive daily trading losses.
It implements a strict daily loss limit, automatically disabling trading once the specified threshold is reached.
This feature is crucial for risk management, helping traders adhere to their trading plans and protect their capital.
The settings are intuitive and can be easily configured to suit individual risk tolerance and trading strategies.
Ensure your trading activities remain within predefined financial boundaries and safeguard your account balance.

You may also like: Equity Guard: Daily Loss, Max Drawdown, and Profit Target Protection for MT5 - excellent alternative for expert users on MetaTrader 5.

Source Code

#property copyright "RobotFX"
#property link "https://robotfx.org"
#property version   "1.01"
#property description "This code is educational. Feel free to use, modify and upgrade as you wish. Visit ROBOTFX.ORG for professional trading tools"
#include <Trade\Trade.mqh>
input double InpMaxDailyLossPct   = 2.0;
input double InpMaxDailyLossMoney = 0.0;
input bool   InpCloseAllOnBreach  = true;
input long   InpMagicNumber       = -1;
input int    InpSlippagePoints    = 20;

.......

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⚠ 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.