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Sunday, February 17, 2013

Forex Master Protector EA

Master Protector is a useful Expert Advisor that acts as a Timer in your MetaTrader station and automatically suspends trading activity at the specified time of your choice by disabling other Expert advisors. The expert is also able to automatically restart the experts according to the pre-configured "Re-Start time" of your choice.

Master Protector is not only an EA that disables/enables other Experts advisors at a certain time, but it also has the ability to close existing trades or cancel pending ones. The granularity and control over which type of trades you want to be closed or cancelled makes it truly unique.

The Master Protector expert advisor is able to perform the following 5 tasks for you:

1- It disables EAs during specific periods of time.

2- It automatically re-enables other EAs.

3- It can be programmed to automatically close existing open positions of your choice with great flexibility.

4- It has the ability to cancel pending trades of your choice with great flexibility.

5- The EA issues alerts in the form of Message Box, Configurable sounds and Email messages when it stops or restarts other EAs or when there is a problem closing an order, a platform error etc.

With a few intuitive parameters you can do a lot. For example in the case below:

(Click on image to enlarge)

"Stop Time 1" is indicating to disable Expert Advisors at 8:55am and Enable them at 10:00am ("Restart Time1"). Maybe because there's important news at 9:00am, or simply because it is part of your strategy to not trade at that time of the day.

"Stop Time 2" is instructing to disable Experts once again at 3:00pm and re-start them at 4:00pm ("Restart Time2").

"Close Open Positions" is configured to allow the EA to close existing trades. Which trades? That's what "Close Positions Mode" and "Positions to Close" are for. In this example the software is configured to close EURUSD and GBPUSD positions at that time. This is the ability that other similar experts out there don't have. They either close all the orders or not. But if it is a news release impacting the European Union only, why should you as a trader be forced to close AUDJPY or USDCAD positions? No, you need this flexibility.

(Click on image to enlarge)

"Close Positions Mode" can be set to CurrencyPair, MagicNumber, OrderTicket or All.

When set to MagicNumber the EA has the ability to only close trades generated by other specific EAs by specifying the MagicNumbers of those EAs, separated by a comma (,) in the "Positions to Close" parameter.

You can also use OrderTicket mode and then target only specific orders. Or finally you can choose "All" to instruct the EA to close all the open positions you have regardless of Currency, MagicNumber or Ticket.

You have granular control over open trades and pending trades. In our example we have instructed Master Protector to also cancel pending orders that have a MagicNumber = 54778. This way you can target the activity of one or more specific experts.

There are some additional parameters for you to customize the look of the text and how you want the expert to communicate with you. Sound alarms? Email messages? The options are there at your disposal.

As part of your purchase you will also get a pdf Guide with Installation instructions and a detailed explanation of the parameters and their use. Free updates if defects in the software are found as well as free MT5 version when released.
I hope this becomes a useful tool in your trading, and that you can benefit from it.

Master Protector $20.00

If you want to learn more about the details and specifications you can download the pdf Guide of the product for free.

You can use this expert in as many MT4's and as many accounts as you want once you purchase. You are not constrained to one account or anything like that. The payment is one time only.

I take pride and fully support my work. If you have any problem with the software or questions feel free to contact me at

As an additional note Master Protector and the Trades Manager EA together offer a powerful combo for comfortable, accurate and free of error trades management.

For more indicators and tools visit the Products page.

Related Articles:
Multiple Trades Manager Expert Advisor (EA) for Metatrader
Position Size Calculator for Metatrader

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