Prop Firm Rule Checker: Automate Your Challenge Evaluation
Info
The Prop Firm Rule Checker: Automate Your Challenge Evaluation is a Script for MetaTrader 5 that prop firm rule checkera diagnostic script that evaluates closed-trade history from a live/demo account or the strategy tester against the rules typically enforced by proprietary trading firm evaluation challenges. Instead of manually calculating drawdown, daily loss, and consistency after every backtest, run this script for an instant PASS/FAIL breakdown in the Experts/Journal tab.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Script works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Scripts folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use Prop Firm Rule Checker: Automate Your Challenge Evaluation
1. Installation: Move your script file into the MQL/Scripts directory and restart the platform.
2. Execution: Drag the script onto a chart; it will perform a one-time action, such as closing all open orders or clearing chart objects.
3. Editing: Use MetaEditor (F4) to modify code, click "Compile," and verify no errors appear in the terminal before running.
4. Removing: Scripts stop automatically, but you can remove them manually by right-clicking the chart and choosing "Remove Script."
Frequently Asked Questions
Q: How are scripts different from EAs? A: Scripts execute a single action and then stop; EAs monitor the market and trade continuously.
Q: Can I assign a hotkey to a script? A: Yes, right-click the script in the Navigator, select "Set Hotkey," and define your preferred keyboard shortcut.
Q: Why did my script stop? A: Scripts are designed to stop immediately after finishing their programmed command; this is normal behavior.
What this tool does
Prop Firm Rule CheckerA diagnostic script that evaluates closed-trade history from a live/demo account or the Strategy Tester against the rules typically enforced by proprietary trading firm evaluation challenges.
Typical Use Case
This Script excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Script works on MetaTrader 5. Place the file in the MQL5/Scripts folder and restart the terminal.
Description & Settings
Related: Weekend Gap Risk Assessment for Prop Firm Trading - another powerful script for MetaTrader 5 traders.
Prop Firm Rule CheckerAlso recommended: Using Object Property X Offset and Y Offset in MQL5 - similar script with strong performance on MetaTrader 5.
A diagnostic script that evaluates closed-trade history from a live/demo account or the Strategy Tester against the rules typically enforced by proprietary trading firm evaluation challenges.Instead of manually calculating drawdown, daily loss, and consistency after every backtest, run this script for an instant PASS/FAIL breakdown in the Experts/Journal tab.
WHAT IT CHECKS
- Profit Target — Checks if total profit reached the required percentage of the starting balance.
- Max Daily Loss — Determines if any single calendar day exceeded the allowed percentage loss.
- Max Overall Drawdown — Measures how far the balance dropped from its peak and if it breached the limit.
- Consistency Rule — Identifies if any single day generated an outsized share of total profit, a common rule to prevent one lucky day from determining the challenge outcome.
- Minimum Trading Days — Verifies if the minimum number of distinct trading days were logged.
HOW TO USE
1. Attach the script to any chart. The symbol and timeframe do not matter as it reads deal history, not chart data. Alternatively, run it immediately after a Strategy Tester pass.
2. Configure the input parameters to match the rules of the specific firm/challenge you are evaluating:
- InpStartBalance — The challenge account starting balance.
- InpProfitTargetPercent — The required profit target percentage.
- InpMaxDailyLossPercent — The maximum allowed daily loss percentage.
- InpMaxTotalDDPercent — The maximum allowed overall drawdown percentage.
- InpMaxSingleDayPercent — The threshold for the consistency rule.
- InpMinTradingDays — The minimum number of trading days required.
- InpFromDate / InpToDate — The date range for the evaluation period.
3. Review the report generated in the Experts/Journal tab. Each checked rule will display PASS or FAIL, along with an overall assessment.
NOTES
- This is a read-only diagnostic tool. It does not interact with trades; it only reads historical data using HistorySelect().
- Rules can differ significantly between prop firms. Always verify the exact parameters from your firm's official documentation and adjust the script inputs accordingly. This script is an independent tool and does not represent or endorse any specific proprietary trading firm.
- This tool is free to use and modify.
You may also like: listing all mt5 signals' properties to a cs v file - excellent alternative for script users on MetaTrader 5.
Source Code
#property copyright "RobotFX"
#property version "1.00"
#property script_show_inputs
#property strict
input double InpStartBalance = 10000.0;
input double InpProfitTargetPercent = 8.0;
input double InpMaxDailyLossPercent = 5.0;
input double InpMaxTotalDDPercent = 10.0;
input double InpMaxSingleDayPercent = 30.0;
input int InpMinTradingDays = 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.