PZ Equity Guardian EA MT5

Overview of PZ Equity Guardian EA MT5

• PZ Equity Guardian EA MT5 is an Expert Advisor designed for constant monitoring of your trading account's equity.
• It aims to minimize costly drawdowns and maintain compliance with trading rules.
• Particularly beneficial for traders participating in Prop Trading Challenges like FTMO or PZ Challenge.

Key Features

• Maximum Loss and Profit Target settings to help manage risks.
• Daily Equity Maximum Loss control for vigilant trading.
• Equity Trailing Stop feature that protects profits as the account grows.
• Ability to close all trades and delete pending orders when certain thresholds are breached.
• Alerts and notifications for various events to keep the trader informed.

User Instructions

• Load the EA onto a single chart without running it on multiple charts simultaneously.
• Customize the events and settings according to your trading rules and preferences.
• Do not close the chart once the EA is loaded; it needs continuous operation to provide optimal functionality.
• To reset after closure of trades, delete the global variables found in your MetaTrader Terminal.

Best Practices for Prop Trading Challenges

• Set conservative values that trigger the EA to stop trading before actual trading rules are broken.
• Monitor your maximum daily equity loss and set it lower than the actual limits imposed by the trading firm.
• Utilize the equity profit target to lock in gains before hitting your drawn-down thresholds. 💰

User Feedback and Performance

• Users have highlighted the simplicity of installation and the effectiveness of the EA in protecting their accounts.
• Some users indicated that it helps them stay within the strict trading limits required by Prop Trading firms.
• Mr. Lopez, the author of the EA, is known for his experience and success in software engineering and trading. 🚀

Potential Drawbacks

• While the EA monitors equity closely, the effectiveness is contingent on the trader's understanding of configurations.
• It may not fit all trading strategies; careful customization is essential for best results.
• Some users reported occasional issues with the EA not responding as expected under certain market conditions. ⚠️