0
Before you start
Three quick checks. Tick them as you go.
Words you'll see. Drawdown = how far equity has fallen from its starting point. Lock = the shield stops the account until you reset it.
Guide · MetaTrader 5 · about 15 minutes
Set up PFX Equity Shield.Limits first, then one chart.
Equity Shield watches your whole account and can close every trade when a loss or profit limit is hit. By the end, it's on one chart with the limits you chose. Set the limits before you trust it, and test on a demo account first.
~15 minstart to finish
7 stepstick each one off
Whole accountone chart watches it all
Freefor PrecisionFX tools
✓
Read the limits before you attach it.
It is built to act when a limit is hit. Setting a limit to 0 switches that limit off. If a step doesn't look like the picture, that's normal: open the "Not seeing it?" box under it.
1
Attach it to one chart
The shield watches the whole account, so one chart is enough.
- Drag PFX Equity Shield onto any one chart. The symbol and timeframe don't matter.
- Turn on Algo Trading with the toolbar button. The shield needs it to close trades.
- Only one copy per account. A second copy will refuse to run.
The shield's own chart stays open. It is the chart that holds the lock.
Not seeing it?
A second copy refuses to start. That is correct. Remove the extra copy, and keep the one that is already running.
The Algo Trading button is grey. Click it so it turns green. Without it, the shield cannot close trades.
2
Set your limits
Pick the row that matches your account, then type your numbers.
- On a prop-firm challenge, set the daily and overall drawdown to your firm's rules, and the baseline to the higher of the two.
- On a personal account, set the account size to 0 to trail the balance, then set the daily drawdown you can live with.
- Leave any limit you don't want at 0. That switches it off.
| You are | Where to start |
|---|---|
| On a challenge with a 5% daily and 10% overall rule | Daily drawdown 4%, account drawdown 8%, baseline = higher of the two |
| On a firm with trailing drawdown | Drawdown type = Trailing |
| Protecting a personal account | Account size = 0 (trails the balance), daily drawdown you can live with |
| Locking in a challenge pass | Account profit target = the firm's target |
These are starting points from the product guide, not promises. Use your firm's written rules as the final word.
Not seeing it?
I can't find the limit settings. Open the indicator inputs (Ctrl+I, then PFX Equity Shield). Look for the drawdown and profit target groups.
My number isn't being used. Check you pressed OK after typing it, and that the limit isn't left at 0.
3
Read the panel
Two gauges for drawdown and two for profit, live.
- The panel shows the daily and overall drawdown gauges, and the profit gauges beside them.
- Green is safe. It turns amber from 50% of a limit and red from 80%.
- Watch the gauges on a demo account until you know what each colour means for you.
A red gauge is a warning, not the breach itself. The breach happens when a limit is hit in full.
Not seeing it?
The panel is not on the chart. Check the shield is attached to one chart and that Algo Trading is on.
4
Know what happens when a limit hits
Every trade closes and the other charts are unloaded.
- Every trade closes and every pending order is deleted.
- Every other chart has its EA removed. Your charts and layouts stay as they were.
- You get an alert and a push notification, if push is set up.
Daily breaches unlock on the next trading day. Account breaches stay locked until you reset them. Restarting MetaTrader does not clear a lock.
Not seeing it?
How do I clear an account lock? Open the inputs, set MAINTENANCE → Clear a stored breach lock to true, press OK, then set it back to false.
Why won't it unlock after a restart? That is by design. A lock must be cleared on purpose.
5
Turn on push alerts
So the alert reaches your phone, not only the terminal.
- In MetaTrader 5, open Tools → Options → Notifications.
- Enter your MetaQuotes ID from the MetaTrader mobile app, then press OK.
- Send a test push to check it arrives.
If push fails, the journal says so. Alerts and sounds still fire.
Not seeing it?
I don't have a MetaQuotes ID. Open the MetaTrader mobile app and find it there, then copy it exactly.
The test push never arrives. Check your phone has internet and that notifications are allowed for the app.
6
Practise a breach on a demo
See the behaviour once, while it doesn't matter.
- On a demo account, set a small daily loss limit and open a trade that loses past it.
- Watch the trade close, the other charts unload, and the alert arrive.
- Clear the lock if one was set, then remove the shield from the chart.
Do this on a demo only. A real breach closes real trades.
Not seeing it?
Nothing closed. Check Algo Trading is green, and that the loss really went past the limit you set.
Your safety nets
Three ways to stay in control.
1
Set unused limits to 0
A limit at 0 is off. Only the limits you want should be live.
2
Know how to clear a lock
Open the inputs, set MAINTENANCE → Clear a stored breach lock, then set it back to false.
3
Test on a demo first
Watch one breach on a demo before you rely on the shield on a real account.
!
Prop-firm accounts
Your firm's rules decide the limits. Set the shield to match them, and leave a margin inside them rather than on the edge.
Risk warning: Trading carries a high risk of loss and is not suitable for everyone. Equity Shield is a risk tool. It cannot guarantee any outcome. MetaTrader and MQL5 are trademarks of MetaQuotes Ltd.; PrecisionFX is not affiliated with or endorsed by MetaQuotes.