ASQ PropFirm Shield: Protect Your Trading Challenge
Info
The ASQ PropFirm Shield: Protect Your Trading Challenge is a Library for MetaTrader 5 that asq propfirm shield v1. 2 — Free, Open-SourceThe ASQ PropFirm Shield is designed to safeguard your trading challenge journey.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Library works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Libraries folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use ASQ PropFirm Shield: Protect Your Trading Challenge
1. Storage: Place library files in the MQL/Libraries directory to ensure they are accessible to your projects.
2. Implementation: Include the library in your code using the #import directive, ensuring you match the exact function names and parameters.
3. Compilation: Ensure the library is present in the directory before you compile your main EA or script, as the compiler links them during this phase.
4. Management: Keep libraries organized in sub-folders if you manage many custom functions to maintain a clean project structure.
Frequently Asked Questions
Q: What is a library file used for? A: Libraries store reusable code modules, allowing you to centralize common logic used by multiple EAs or indicators.
Q: Is a library executable? A: No, libraries are non-executable files containing functions; they must be imported into an EA, indicator, or script to function.
Q: Can I update a library while the platform is running? A: You should compile your EA or script after updating a library to ensure the latest code changes are integrated.
What this tool does
ASQ PropFirm Shield v1.
Typical Use Case
This Library excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Library works on MetaTrader 5. Place the file in the MQL5/Libraries folder and restart the terminal.
Description & Settings
Related: Trade State - the EA trading mode switcher depending on the time - another powerful library for MetaTrader 5 traders.
ASQ PropFirm Shield v1.2 — Free, Open-SourceAlso recommended: MQ L4/5-Json Lib - similar library with strong performance on MetaTrader 5.
The ASQ PropFirm Shield is designed to safeguard your trading challenge journey. With precise monitoring of each tick, it ensures compliance with your firm's trading rules, including daily loss limits, maximum drawdown, profit targets, and more.
FEATURES:
- Built-in presets for 7 prop firms: FTMO, MyForexFunds, Funded Next, The Funded Trader, E8 Funding, Bulenox, and TopStep.
- Daily loss limit enforcement: Automatically blocks trading when the limit is reached.
- Maximum drawdown protection: Standard or trailing drawdown with a floor lock for funded accounts.
- 5-level shield state: Safe, Caution, Danger, Breached, and Failed, indicating the status of your trading limits.
- Emergency close-all flag: Triggers a warning at 90% of any limit, suggesting immediate position closure.
- Risk-per-trade guardrail: Prevents excessive risk on new trades.
- Safe risk amount calculator: Determines the maximum risk for the next trade without violating rules.
- Profit target tracking: Displays progress with a percentage indicator.
- Live win rate and profit factor calculation: Updated with each trade close.
- Consistency score calculation: For firms requiring it (MFF, FundedNext, Bulenox).
- Minimum trading day tracking: Monitors and tracks completion.
- Weekend holding prevention: Automatically cuts off on Friday evenings.
- Challenge phase detection: Adjusts targets for Challenge, Verification, and Funded phases.
- Daily PnL history: Tracks the last 10 days of profits and losses.
DEMO EA INCLUDED: Attach to any chart for a comprehensive dashboard:
- Firm details, phase, and shield state with color-coded indicators.
- Profit target, daily loss limit, and max drawdown progress bars.
- Win rate, profit factor, trading days, and safe risk amount.
- Emergency warning panel with close-all alerts.
- Status messages and remaining limits in both dollar and percentage.
USAGE:
#include "ASQ_PropFirmShield.mqh"
CASQPropFirmShield prop;
prop.Initialize(AccountBalance(), ASQ_PROP_FTMO);
prop.Update(equity, balance); // Call every tick
double safe = prop.GetSafeRiskAmount(); // Get max safe risk amount
Place both files in the same directory for seamless compilation.
FILES:
- ASQ_PropFirmShield.mqh — Library (756 lines)
- ASQ_PropFirmShield_Demo.mq5 — Demo EA (317 lines)
Compatible with MetaTrader 5, all brokers, instruments, and timeframes.
1,073 lines of production MQL5 code. AlgoSphere Quant — Where precision meets profitability.
You may also like: Trading Signal Module - plain MA crossover Signals - excellent alternative for library users on MetaTrader 5.
⚠ 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.