Hello ,
I don't know whether there has already been such a tool in this forum. I just want to share my own to you. It 's 100% free.

it can moditor the equity or banlance of your account ,you have 3 ways to set target ,there are all optional.
1 is the Maximal equity target.
2 is the Minmal equity target.
3 is the Drawdown from the highest equity.

when the target is reach,it can close all all trades or pending trades or disable the EA button.

Allply this ea to One chart is enough. any one is ok. it will check the changes of equity every 0.5 second.

when this ea is running ,Press F7 cann't call out the window to set parameters.
If you want to change the parameters ,you must remove the ea from the chart first,and then apply it to the chart again and set the parameters.

If you want to use disable EA button function,you must make sure that "DLL is allowed" and no other EAs or indicators is showing Alert Window.
at present,if there is an Alert Window,it will cannot disable the EA button.

Feel free to use it and share it with your friends this free tool.

Attached Files

EquityGuard1.1.ex4 (13.2 KB, 216 views)

__________________
Excellent Programming Service ,please contact to :lee.yan.au@gmail.com

thanks for the hard work... would you please set for maxium pips target... i think many of traders here are marking on their max pips...thanks

regards,

MANSTIR

Thanks for sharing lee yan!

what I really need this ea to do is to keep guarding after it has closed all trades if I set it on % method only. In that case if I have a successful robot going then I can leave home for long time and not look at my acct. If it will not do that can you plug in that option? Thanx much it's a great tool.

To make my self clear if it closed all orders I need it to close all new orders (because I set it to keep robot going=true) and recalculate based on new equity (or equity it just triggered at) and same %. I guess it would have to
"restart" itself just like my computer.

After testing this EA I found that it works exactly as I described above. Thank you for a great fail safe mechanism that I believe any robot user should have. The only additional action I would like it to be able to do is close all open trades based on a time period i.e. every two weeks but allow other eas to keep going. This would allow my robot to enter new more profitable trades instead of hanging on to old ones that not moving or are not
profitable.

I tried it and it works very well.

Thanks for this very usefull tool.

Hi lee_yan_cn.

Thanks for your nice EA. I've been looking for something like that for a while now. I haven't used it yet, or even put it on a chart. The Reason? Just wanted to see if I understand your instructions correctly, as you have already posted. Feel free to copy or correct these instructions, and then maybe include them with your EA, in a winzip, so everyone can enjoy your hard work. Thanks again!

*******
Hello To All!

This is a handy tool I wish to share with all of you. It's 100% free, for yourself, and whoever you wish to share it with.

It has the ability to monitor the balance, and or equity in your account. There are 3 different options you can choose to manage and protect your account equity.

1. Close trades after a Maxium desired equity target is reached.
2. Close trades after a Minimal desired equity target is reached.
3. Close trades when your desired MAXIMUM drawdown from your highest achieved point of available equity has been reached.

After each selected target has been reached, it will close all open and pending trades, and optionally disable the Global EA Button, to avoid further EA activated trading orders.

How to Use:

First, apply your trading EA's to the charts you wish to use, and set those up as you normally would.

Apply the Equity Guard to any NEW chart, and select your preferences. (The currency pair or timeframe of that chart is NOT important). After you have set the parameters you require to monitor your account equity, and have closed the Equity Guard onto the chart, the Happy Smiley Face will let you know it is working, and will monitor your equity at every .05 seconds. All open or pending trades will close when your desired target settings have been reached, and activate the Global "DISABLE EA BUTTON" if you have chosen that option as well.

To be CERTAIN that the disabling of the "Expert Advisor Button" is assured, you must check mark the "DLL is allowed" box in the "Common" tab, when first loading the EA onto the chart. Then make sure that NO EA'S OR INDICATORS ARE USING AN ALERT WINDOW. Open alert windows will disallow the activation of the "Disabling of the Expert Advisor Button". Check all charts, and chart profiles to make sure there are no Alert Activating EA's or Indicators open, that may interfere with the disabling of the Expert Advisors option after the trades have been closed. Important thing to remember.

ALSO, IF YOU DECIDE TO MAKE CHANGES to your equity protection parameters, it will be necessarry to REMOVE, and once again replace the Equity Guard onto a NEW chart. Trying to open the EA, (F7) to reset the properties in the common, or inputs tab, will NOT be a normal option you can use, with the way it has been programmed at this present time. It MUST be removed and reloaded onto a new chart to be functional with your new settings, and parameters. Remember that!

Feel free to use and share this tool with all your friends. It's absolutely free!

Lee_Yan_Cn

[quote=Omniwiz;272040]Hi lee_yan_cn.

Thanks for your nice EA. I've been looking for something like that for a while now. I haven't used it yet, or even put it on a chart. The Reason? Just wanted to see if I understand your instructions correctly, as you have already posted. Feel free to copy or correct these instructions, and then maybe include them with your EA, in a winzip, so everyone can enjoy your hard work. Thanks again!

*******


I appreciate the tool, but I have one big reservation on using this tool, and that is settings. I like to hard code my settings into an EA so that if I need to reload it, the settings are already installed. If I have a power outage, the .ex4 version loses my settings and I have to reset the program settings (If I can remember them!). Is there any chance of posting the coding so I can do this. There are
similar programs already in existence so there should be no worry about someone selling this - there are not many EA's that work anyway! If you could please post the code - Thanks in advance!

Dave
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can u set the equity targets (minimal and maximum) by percentage vs $ amounts?