Iron Clad Risk Control EA #044
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- Iron Clad Risk Control EA #044
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- Iron Clad Risk Control EA – User Guide
- 1. Overview
- The Iron Clad Risk Control EA is designed primarily as a risk management tool with optional
- trade entry logic.
- It combines three layers of protection:
- 1. ATR-Based Position Sizing & SL/TP
- 2. Equity Protection & Daily Loss Limit
- 3. Max Consecutive Loss Lockout
- This makes it ideal for both automated trading (using built-in EMA crossover signals) and as a
- safety layer when you want to manage risk across other strategies.
- 2. Features
- • ATR SL/TP: Calculates stop loss and take profit dynamically based on ATR multiples.
- • Dynamic Lot Sizing: Calculates lot size based on risk percentage and SL distance.
- • Equity Protection: Stops trading when equity drawdown or daily losses exceed the
- threshold.
- • Max Consecutive Loss Filter: Suspends trading after too many losses in a row.
- • Risk Manager Mode: If you disable entries, it will monitor equity and close trades when
- limits are hit.
- • Optional EMA Entry: Basic EMA cross strategy for easy backtesting or entry
- automation.
- 3. Inputs & Parameters
- General
- • Magic Number – Unique ID for trades opened by this EA.
- • AllowEntries – true/false toggle. If false, EA acts only as risk manager.
- • MaxOpenPositions – Limit on open trades per symbol.
- Risk Management
- • RiskPercent – % of equity risked per trade.
- • ATRPeriod / ATRtf – ATR settings for volatility measurement.• ATR_SL_Multiplier / ATR_TP_Multiplier – Multipliers for SL/TP distance.
- • MaxLot / MinLot – Constraints on lot sizing.
- Equity Protection
- • UseEquityProtection – Enable/disable.
- • EquityStopPercent – Global drawdown limit (% from initial equity).
- • DailyLossLimitPct – Daily realized loss limit (% of day-start equity).
- • CloseAllOnEquityStop – If true, closes all EA positions when triggered.
- Consecutive Loss Filter
- • MaxConsecLosses – Maximum losing trades in a row before lockout.
- • LockoutMinutes – Lockout duration before new trades are allowed.
- Entry Logic (Optional)
- • UseEMAEntry – Enable/disable EMA-based entries.
- • FastEMA / SlowEMA – EMA parameters.
- • SlippagePoints – Max slippage in points for execution.
- Misc
- • PrintDebug – If true, prints status messages to the terminal log.
- 4. How It Works
- 1. Position Sizing:
- Lot size is calculated from your chosen risk percentage and ATR-based SL.
- 2. Equity Protection:
- o If equity falls below the allowed drawdown, the EA blocks further trades.
- o Daily losses beyond limit also trigger a block.
- o Optionally, all trades are closed immediately.
- 3. Consecutive Losses:
- If losing trades reach the set threshold, the EA locks out trading for a specified period.
- 4. Entry (Optional):
- If enabled, the EA opens trades when the fast EMA crosses the slow EMA. ATR
- defines SL/TP automatically.
- 5. Usage Scenarios• Risk Manager Only:
- o Set AllowEntries=false.
- o Attach EA to the chart of your active strategy.
- o It will close trades and block further ones if equity rules are violated.
- • Automated Entry + Risk Management:
- o Enable EMA entries (UseEMAEntry=true).
- o The EA will both trade and enforce risk rules.
- 6. Best Practices
- • Start with demo testing before going live.
- • Use conservative risk percent (1–2%) for lot sizing.
- • Adjust ATR multipliers depending on volatility of the symbol.
- • Use lower MaxConsecLosses (e.g., 2–3) to prevent long losing streaks.
- • Always combine with a broker that allows fast execution & low slippage.
- 7. Example Settings
- EURUSD H1
- • RiskPercent = 1.0
- • ATRPeriod = 14, ATRtf = H1
- • SL = 2 × ATR, TP = 3 × ATR
- • MaxConsecLosses = 3, LockoutMinutes = 60
- • EquityStopPercent = 25%, DailyLossLimitPct = 10%
- XAUUSD M30
- • RiskPercent = 0.5 (gold is volatile)
- • ATRPeriod = 14, ATRtf = M30
- • SL = 2.5 × ATR, TP = 4 × ATR
- • MaxConsecLosses = 2, LockoutMinutes = 90
- • EquityStopPercent = 30%, DailyLossLimitPct = 8%