MMD EA Account Protection

The free MMD EA Account Protection acts as a guardian for your account. It enforces disciplined risk management by monitoring equity and taking automated action (close all trades, disable EAs) if a predefined daily loss limit is hit. Includes an on-chart panel & a manual "Close All" button.

Product information

MMD EA Account Protection

MMD EA Account Protection

Your FREE Automated Safety Net for Disciplined Risk Management on MT4 & MT5!

FREE Risk Management Tool for MT4 & MT5 Users: Log in to your account on our website, download the MMD EA Account Protection from the "Tools" section, and use it indefinitely to safeguard your capital!

The MMD EA Account Protection is an essential, free Expert Advisor designed to act as a guardian for your trading account. Its sole purpose is to enforce disciplined risk management by automatically monitoring your account's equity and taking decisive action if a predefined loss limit is reached. In moments of market turmoil or emotional trading, this tool can be the critical backstop that prevents catastrophic losses.

By automating your maximum loss rules, this free EA helps you trade with greater confidence and control, ensuring your risk plan is always respected, no matter what.

Key Features & Benefits of MMD EA Account Protection

  • Flexible Daily Loss Limits:
    • Set your maximum acceptable loss with two distinct modes using the Loss Mode parameter: as a percentage of your balance (Loss To Close All Percent) or as a fixed amount in your account currency (Loss To Close All Currency).
  • Advanced Balance Calculation:
    • Choose your Used Balance Mode: calculate the loss limit based on your real-time current_Balance or on the more static dayStart_Balance for consistent daily risk.
  • Automated Protective Actions:
    • Close All Positions: If Close All On Loss is enabled, the EA will automatically close all open positions and delete all pending orders across your account when the loss limit is hit.
    • Turn Off AutoTrading: The crucial Turn Off AutoTrading On Loss feature disables the master "AutoTrading" button in your terminal, preventing this or any other EA from opening new trades after the limit is reached.
    • Instant Alerts: Receive an immediate platform alert if Alert On Loss is active, notifying you the moment your risk threshold has been crossed.
  • Convenient On-Chart Information Panel:
    • Stay informed with an at-a-glance view of your "Used Balance", current "Equity", and real-time "PnL" (in currency and as a percentage).
    • The panel's appearance and location are fully customizable (Font Color, Font Size, Corner, etc.).
  • Manual "Close All" Panic Button:
    • A "Close All" button is placed on your chart, allowing you to instantly close all positions and pending orders with a single click (after a confirmation prompt).
  • Completely Free & Unlimited Use:
    • This essential risk management utility is provided at no cost to all registered users on our website.
    • Download from the "Tools" section after logging in and use it to protect your account indefinitely.

The MMD EA Account Protection is not a trading strategy; it is your personal risk manager that works 24/7. Install this free tool on any single chart, and it will monitor your entire account, providing a powerful layer of security and helping you adhere to the most important principle of trading: capital preservation.

Risk Management Tool: While this Expert Advisor is designed to protect your account by closing trades and disabling auto-trading, it is crucial to understand its parameters and test it on a demo account. Market volatility and platform execution speed can affect outcomes. This tool is an aid to, not a replacement for, a comprehensive risk management strategy.

Pro Tip: Practical experience shows it is wise to set your loss limit slightly below your absolute maximum loss threshold. This provides a buffer for potential slippage, especially during volatile news events, where final closing prices may differ from the prices at the moment of the trigger.

AutoTrading Must Be Active: For this EA to function correctly and be able to close trades when your loss limit is reached, the 'AutoTrading' button in your MetaTrader terminal must be active (green).

DLL & Account Requirement: This free Expert Advisor may require the appropriate MMD License DLL (e.g., MMD_License_MT5.dll for MT5, or the MT4 equivalent) and an active login on our website (Magiconcharts.com) to function in certain versions. Please ensure "Allow DLL imports" is enabled in your MetaTrader settings (Tools > Options > Expert Advisors).

If you have any questions related to this product or need assistance, write to the email address: support@magiconcharts.com.

We will be happy to answer your questions promptly.