SP Equity Guard MT4

SP Equity Guard is an Expert Advisor designed to safeguard your trading account by monitoring equity levels and implementing protective measures when necessary. It helps prevent large drawdowns, secures profits, and ensures the account stays within your specified risk parameters. Here’s how you can use and configure its settings to maximize its protective capabilities.

Enable Protection

When set to true, it activates the protection system, allowing the Expert Advisor to monitor your account’s equity and automatically intervene if necessary. If you set this option to false, the protection features will be disabled, and the Expert Advisor will not take any action on your behalf.

To ensure that your account is being protected, you should set Enable Protection to true.

Percent Drawdown Settings

The Percent setting allows you to specify the percentage of drawdown from your account’s peak balance at which SP Equity Guard will act. For example, if you set this to 5, the Expert Advisor will intervene if your account drops by 5% from its highest balance.

When a drawdown reaches the set percentage, SP Equity Guard can take several protective actions:

• DisableEAs: If enabled, this option will disable all Expert Advisors on your account once the drawdown threshold is reached. This helps prevent any further automated trading that could worsen your account’s situation.
• CloseActives: When set to true, SP Equity Guard will automatically close all active positions once the drawdown limit is breached. This is especially useful for preventing further losses from open trades that might continue to deteriorate.
• DeletePendings: This option will delete any pending orders if the drawdown threshold is reached. Deleting pending orders ensures that no new trades are placed, which could further damage the account during a drawdown.

Minimum Balance Target Settings

The Minimum setting allows you to specify a minimum account balance. If your balance falls below this target, SP Equity Guard will take action to prevent further losses:

• Min_DisableEAs: This setting, when enabled, will disable all Expert Advisors on your account if your balance drops below the specified minimum. Disabling automated trading can help prevent more trades from being opened when the account is undercapitalized.
• Min_CloseActives: If this setting is enabled, SP Equity Guard will close all active positions if your balance falls below the minimum target. This stops any trades from running in a depleted account, helping to protect your remaining capital.
• Min_DeletePendings: This option, when activated, will delete any pending orders once the account balance falls below the minimum threshold. This prevents new positions from being initiated while the account is in a vulnerable state.

Maximum Balance Target Settings

SP Equity Guard also allows you to define a maximum account balance that triggers protective actions:

• Maximum: Setting a maximum balance ensures that the Expert Advisor will act if your account reaches or exceeds the specified level. This is useful for locking in profits or preventing overexposure to risk.
• Max_DisableEAs: When this option is enabled, it disables all Expert Advisors if the account balance exceeds the maximum limit. This helps stop automated trading from continuing to open new positions when your account is performing well.
• Max_CloseActives: If activated, SP Equity Guard will close all active positions once the account balance hits the specified maximum. This ensures that profits are secured and that no further trades are taken after reaching a predefined profit level.
• Max_DeletePendings: When enabled, this option will delete any pending orders once your account balance hits the maximum target. This prevents further trades from being initiated once your balance reaches a certain point, effectively locking in your current standing.

Alert Settings

SP Equity Guard can also send alerts to notify you when any of the protective actions have been triggered. By enabling these alerts, you’ll be informed when your account hits a drawdown, minimum, or maximum balance, or when other protective measures are taken. This feature ensures you’re always aware of the Expert Advisor’s actions and can stay on top of your account’s performance.

SP Equity Guard

Conclusion

SP Equity Guard MT4 is a powerful tool for managing risk in your trading account. By configuring the drawdown, minimum balance, and maximum balance settings, you can ensure your account stays within acceptable limits. With its ability to disable Expert Advisors, close active positions, and delete pending orders automatically, it provides a hands-off approach to risk management. When used effectively, SP Equity Guard helps you protect your trading capital while keeping your trading strategy on track.