Equity Sentry (Free MT4 EA)
Protecting your account equity is one of the most difficult functions if you need to do this manually. Did you ever used some MT4 expert advisor that opens trades using some mysterious trading system and your account floating loss keeps growing more and more? In other words your account equity keeps getting lower and lower until your account money is loss because of the margin call. I bet this is the scenario no one ever wants to see, but how to close all the trades when account equity reaches certain amount in percent, money or pips? This could happen at night when you sleep or some other time when you are away from your computer.
We have developed a special MT4 EA that will be your personal account equity sentry. EA will monitor your account equity and close all trades when a certain amount in percent, money or pips is reached. You can even set EA to use multiple functions for act as account equity stop loss or take profit. Equity Sentry also has “cumulative trades basket”. It means that EA can calculate the profit/loss of your closed trades and once it reaches certain level EA will act. Also “close MT4 platform” feature is included, which is very useful if you use trade copier software to receive trades as most of the trade copiers does not stop operating when “Expert Advisors” are disabled. In this case Equity Sentry EA can close your MT4 completely after all trades are closed.
Equity Sentry features
- Script is free of charge and works on any Demo and Real account
- designed for Metatrader 4 platform
- will monitor your account equity and close all trades when a certain amount in percent, money or pips is be reached
- will monitor cumulative profit/loss (closed trades) and close all trades when a certain amount in money or pips is reached
- can use multiple loss/profit targets
- will manage all trades running on your account and you can filter trades by setting certain magic number
- EA is able to disable all running EAs on your MT4 account by virtually clicking “Expert Advisors” button in the top toolbar
- Any desirable features can be added individually for additional payment
Script is free of charge
How to use Equity Sentry?
- Double-click the script to execute or attach it to the desired chart
- Once started EA will start monitoring current account equity and all upcoming closed trades
- You can set EA to close all trades and disable all EAs when account equity reaches a certain loss or profit level in percent, money or pips. You can choose multiple options like close all trades when account reach certain profit in percent or certain loss in money.
- You can set EA to close all trades and disable all EAs when certain cumulative profit or loss level is reached in money or pips.
- Profit or loss target in money depends on your account currency. If you have USD account, profit/loss target will be in USD, if your account is in USD, profit/loss target will be in USD.
- By default EA will manage all trades running on your account, but you can override this by setting certain magic number in EA settings.
- All values must be positive.
- By default EA is set to disable all Expert Advisors on equity trigger. This means that after EA will close all trades it will try to disable all EAs by virtually clicking “Expert Advisor” button on your Metatrader toolbar. This will disable all EAs including Equity Sentry and no trades should be opened by any EA until manual intervention. Note that we can not guarantee that this will affect all EAs. Some EAs (like for Renko or other offline charts) work in different mode and they can not be disabled until removed from chart.
- You can set EA to use Trailing Stop and/or BreakEven function on your trades.
Equity Sentry Inputs
DisableAllExpertAdvisors
by default this is set to true and it means that EA will disable all Expert Advisors on equity trigger or certain cumulative profit/loss reached. This means that after EA will close all trades it will try to disable all EAs by virtually clicking “Expert Advisor” button on your Metatrader toolbar. This will disable all EAs including Equity Sentry and no trades should be opened by any EA until manual intervention.
by default this is set to true and it means that EA will disable all Expert Advisors on equity trigger or certain cumulative profit/loss reached. This means that after EA will close all trades it will try to disable all EAs by virtually clicking “Expert Advisor” button on your Metatrader toolbar. This will disable all EAs including Equity Sentry and no trades should be opened by any EA until manual intervention.
CloseMetatraderCompletely
by default this value is set to false. If you set it to true EA will close MT4 platform completely on equity trigger or certain cumulative profit/loss reached. This is very useful if you use trade copier software to receive trades as most of the trade copiers does not stop operating when “Expert Advisors” are disabled.
by default this value is set to false. If you set it to true EA will close MT4 platform completely on equity trigger or certain cumulative profit/loss reached. This is very useful if you use trade copier software to receive trades as most of the trade copiers does not stop operating when “Expert Advisors” are disabled.
EquityLossPercent
when account loss equity in percent will reach this value EA will close all trades. Set this value to zero to disable it
when account loss equity in percent will reach this value EA will close all trades. Set this value to zero to disable it
EquityLossMoney
when account loss equity in money (account currency) will reach this value EA will close all trades. Set this value to zero to disable it
when account loss equity in money (account currency) will reach this value EA will close all trades. Set this value to zero to disable it
EquityLossPips
when account loss equity in pips will reach this value EA will close all trades. Set this value to zero to disable it
when account loss equity in pips will reach this value EA will close all trades. Set this value to zero to disable it
EquityProfitPercent
when account profit equity in percent will reach this value EA will close all trades. Set this value to zero to disable it
when account profit equity in percent will reach this value EA will close all trades. Set this value to zero to disable it
EquityProfitMoney
when account profit equity in money (account currency) will reach this value EA will close all trades. Set this value to zero to disable it
when account profit equity in money (account currency) will reach this value EA will close all trades. Set this value to zero to disable it
EquityProfitPips
when account profit equity in pips will reach this value EA will close all trades. Set this value to zero to disable it
when account profit equity in pips will reach this value EA will close all trades. Set this value to zero to disable it
MagicNumber
this is where you set magic number. If set to zero (default), EA will manage all trades. Set this variable to a certain value and EA will manage only the trades with the specified magic number
this is where you set magic number. If set to zero (default), EA will manage all trades. Set this variable to a certain value and EA will manage only the trades with the specified magic number
CumulativeLossMoney
when cumulative profit/loss amount in money (account currency) will reach this loss level EA will close all trades. Set this value to zero to disable it. Value must be positive.
when cumulative profit/loss amount in money (account currency) will reach this loss level EA will close all trades. Set this value to zero to disable it. Value must be positive.
CumulativeLossPips
when cumulative profit/loss amount in pips will reach this loss level EA will close all trades. Set this value to zero to disable it. Value must be positive.
when cumulative profit/loss amount in pips will reach this loss level EA will close all trades. Set this value to zero to disable it. Value must be positive.
CumulativeProfitMoney
when cumulative profit/loss amount in money (account currency) will reach this profit level EA will close all trades. Set this value to zero to disable it. Value must be positive.
when cumulative profit/loss amount in money (account currency) will reach this profit level EA will close all trades. Set this value to zero to disable it. Value must be positive.
CumulativeProfitPips
when cumulative profit/loss amount in pips will reach this profit level EA will close all trades. Set this value to zero to disable it. Value must be positive.
when cumulative profit/loss amount in pips will reach this profit level EA will close all trades. Set this value to zero to disable it. Value must be positive.
TrailStopStartPips and TrailStopMovePips
EA will activate Trailing Stop function when trade goes in profit by pips value set in TrailStopStartPips. Once activated EA will move stop loss in profit every pips value set in TrailStopMovePips
EA will activate Trailing Stop function when trade goes in profit by pips value set in TrailStopStartPips. Once activated EA will move stop loss in profit every pips value set in TrailStopMovePips
BreakEvenStartPips
sets how many pips trade should get into profit before stop loss is moved to the entry price. BreakEvenMovePips is used to set how many pips EA must add to the entry price if you want your trade to be closed in profit on reverse.
sets how many pips trade should get into profit before stop loss is moved to the entry price. BreakEvenMovePips is used to set how many pips EA must add to the entry price if you want your trade to be closed in profit on reverse.
Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.