Prop Guard MT5 Daily Loss and Max Drawdown Dead-Line Visualizer (Dashboard and Line)
This is a powerful addition to your MetaTrader 5 toolkit designed to optimize market analysis and performance. This technical indicator acts as a specialized analysis tool designed to visualize market data. It helps traders identify emerging trends, momentum shifts, and key support or resistance levels by plotting statistical calculations directly onto price charts.
How to Setup and Use Prop Guard MT5 Daily Loss and Max Drawdown Dead-Line Visualizer (Dashboard and Line)
1. Installation: Place your file in the MQL/Indicators folder via "Open Data Folder" and restart your terminal.
2. Loading: Find the indicator in the Navigator, drag it onto your chart, and configure the input parameters in the popup window.
3. Customization: Press Ctrl+I to open the indicator list, select your tool, and click "Properties" to change colors, levels, or visual styles.
4. Updating: Replace the old file in the Indicators folder with the new version and restart the platform to apply changes.
Frequently Asked Questions
Q: Why is my indicator not showing? A: Verify the file is in the MQL/Indicators folder, or try right-clicking the "Indicators" tree in the Navigator and clicking "Refresh."
Q: Do custom indicators slow down the platform? A: Too many complex indicators can impact performance; remove unused ones via the "Indicator List" (Ctrl+I).
Q: Can I use MT4 indicators on MT5? A: No, MQL4 and MQL5 are distinct languages; ensure the indicator is compiled specifically for your platform version.
Description & Settings
PropGuard MT5
is a
chart-window indicator
designed for traders who must respect strict prop-firm risk rules (Daily Loss Limit and Overall Max Drawdown). Instead of watching numbers in the terminal, PropGuard converts your risk limits into a
clear, visual price level
on the chart — the
Dead-Line
.
When price reaches the Dead-Line (based on your current exposure), your account would reach the configured drawdown boundary. This helps you make faster decisions, reduce emotional trading, and avoid rule violations.
Core Concept: The “Dead-Line”
Prop firms typically define loss limits in currency or percentage terms (daily and overall). PropGuard translates these limits into a
dynamic chart level
:
If you are
net long
, the Dead-Line is the price below the current market where your allowed loss is exhausted.
If you are
net short
, the Dead-Line is the price above the current market where your allowed loss is exhausted.
This line updates in real time and reflects:
Current
equity
Current
open positions on the chart symbol
The symbol’s tick value / tick size (multi-asset compatible)
What the Indicator Displays
1) Effective Dead-Line (Main Line)
PropGuard always draws the
most restrictive
limit as a single “effective” Dead-Line:
DAILY
or
OVERALL
(whichever is closer to the current price / stricter)
2) Optional Separate Lines
If enabled, you can additionally display:
Daily Dead-Line
Overall Dead-Line
3) On-Chart Dashboard Panel
A compact panel shows:
Balance and Equity
Daily / Overall maximum allowed loss
Daily / Overall minimum equity levels
Long lots / Short lots (on this symbol)
Daily and Overall Dead-Line prices
Effective rule (DAILY / OVERALL)
Remaining buffer in
currency
and
points
, with optional warning highlight
Trailing Drawdown Mode (Prop-Style)
PropGuard supports both common drawdown models:
Trailing Drawdown ON
Daily reference:
daily peak equity
Overall reference:
overall peak equity
The Dead-Line can move as you reach new equity highs (risk line “trails”)
Trailing Drawdown OFF
Daily reference:
start-of-day balance
(see Notes below)
Overall reference:
Start Capital
(manual input)
Dead-Line is based on fixed reference values
Safety Handling (Edge Cases)
PropGuard is designed to behave safely and transparently:
No open positions on the symbol
→ Lines are hidden, dashboard shows “No Positions”.
Hedged / near-zero net sensitivity
(net exposure effectively neutral)→ Lines are hidden, dashboard shows “Hedged (No dead-line)”.
Limit already violated
→ Dashboard shows
“VIOLATED!”
and remaining buffer becomes negative.
Inputs (Quick Guide)
Daily Max DD (%)
— Daily loss limit in percent
Overall Max DD (%)
— Maximum drawdown limit in percent
Trailing Drawdown Mode
— Peak-equity trailing ON/OFF
Account Start Capital
— Used when trailing is OFF (overall reference)
Show Daily & Overall Lines Separately
— Show both limits or only the effective line
Dashboard Corner / X Offset / Y Offset
— Panel placement
Line Colors / Width
— Visual customization
Warning Threshold (%)
— Highlight remaining buffer when close to violation
Notes and Important Limitations (Read Before Use)
Symbol-specific logic:
The Dead-Line is calculated from
positions on the current chart symbol only
.If you trade multiple symbols, attach PropGuard to each relevant chart.
Visualization tool:
PropGuard helps you visualize risk boundaries, but it does not execute trades, close positions, or enforce rules automatically.
Who This Is For
Prop-firm traders who need to respect daily loss and max drawdown rules
Traders who want a
visual risk boundary
instead of constantly watching equity numbers
Multi-asset traders (FX, indices, metals, crypto CFDs) who want a universal sensitivity approach
