Guardian Angel
LegacyFX’s free “Guardian Angel” tool is a smart communication system that acts as a risk management feature within MetaTrader 5. This add-on displays real-time information to help you better manage the risks and opportunities of each trade.
The system is smoothly integrated within the MetaTrader 5 platform and sends you instant feedback as you trade. It detects potential risks and missed profit opportunities, according to your pre-set investment style and preferences.
Employing the Guardian Angel system may help you refine your decision-making process and polish your trading skills.
Guardian Angel produces a wide range of highly effective messages, including:
- Margin alerts
- Setting stop loss
- Relevant market notices
- Changes in market volatility
- Reporting on progress and regression in
performance - Excessive risk
- Strong/weak trading performance
The system analyzes your transactions in real-time to find systematic patterns in your trading and how they relate to the conditions in the market. The analysis, which takes a few seconds to complete, directs your attention to the strengths and weaknesses in your trading style, providing insights about your own trading and helping you make high-quality decisions over time.
The Guardian Angel tool is helpful for new traders and experienced ones alike, providing an external and objective review of their trades. This feedback can contribute to the trader’s current and future trades, as learning from mistakes is an integral part of trading.
Guardian Angel is unique to each trader, meaning it does not generate the same feedback to all users. Each trader designs their own Guardian Angel, suited for their requirements. The tool will only give the trader’s wants and needs according to their pre-defined preferences and settings.
Open MetaTrader 5 account and get access to the Guardian Angel add-on for free.
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Guardian Angel Tutorial
The Guardian Angel is enabled in the MetaTrader 5 platform after the completion of installation. To start working, it is required to accept the terms of use. The main console can be opened or minimized from the tray icon. To open the main console, click the tray icon on the desktop task line.
This is the main display of messages that will appear every time you open or close positions. Keep this window open while you trade. Each message will be identified with a different color to state its level of severity :
- Green - Positive indication
- Yellow - Medium level of importance
- Red - High importance or danger
The Guardian Angel shows the last ten messages. Click on the arrows to read old and new messages. If you wish to read older messages, go to the Message Log option in the main console.
A small envelope indicates that the current message is new and unread. Near the envelope, there is a number of unread messages.
If you would like to learn about the rationale behind the messages and find more about best practices, click the “Learn More” option at the end of each message. This is a link that takes you to a learning center with elaboration about each message topic.
If you find any particular message appearing too frequently, it might be that your attention to that issue is needed. However, if you no longer wish to see this message appear, click the “remove message” option, and the Guardian Angel will not show it from that point onwards. If at any point you would like to restore this message again, go to the Settings option and click Restore Messages Default in the Settings window in the main console.
Clicking on the notification will open the main window, which contains the following options:
Market sensor: This window provides up-to-date volatility measurements of the markets you are trading in 3 different time frames: last hour, last day, and last two weeks. It shows the current volatility level (very low, low, moderate, high, and extremely high) and a Stop Loss “safe zone” in pips based on the current volatility level.
Statistics: weekly statistics that will appear in the main Guardian Angel window
Settings: In the Settings area, you can adjust the guardian Angel messages according to your personal preferences:
- Choose the topics of messages you are interested in
- Restore defaults
Tell Us: Click this option to provide feedback about your experience with the Guardian Angel. It will help us make improvements in the future.
Chat: Click this option to chat with agents while trading
Calculator: You can calculate stop loss based on account risk or market volatility for each instrument you are trading.
Desktop Notifications: When Guardian Angel’s main console is closed, messages will appear so you can see the beginning of each message. Click this message to open the main console.
New messages: A new message arrives with all related information: trade markets, severity, and date. You will also have a number that indicates how many messages you did not read. The envelope indicates that this is the first time you have seen the message.
Already have a MetaTrader 5 account withLegacyFX?
Download the Guardian Angel tool for free
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