The Guardian Angel
LegacyFX’s free Guardian trading is a smart communication system that acts as a risk management tool for MetaTrader 5. The Guardian Angel add-on increases the real-time information available to better manage the risks and opportunities of each trade.
The system smoothly integrates to the MetaTrader 5 platform and sends you instant feedback as you trade. It is able to detect a potential risk or missed profit opportunity according to a pre-set investment style and preferences. Using the Guardian Angel system helps 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 patternsin your trading and how they relate to the conditions in the market. Theanalysis, which takes a few seconds to complete, directs your attention to thestrengths and weaknesses in your trading style, providing insights about yourown 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 cancontribute to the trader’s current and future trades, as learning from mistakesis an integral part of trading.
Guardian Angel is unique to each trader, meaning it does not generate the samefeedback to all users. Each trader designs their own Guardian Angel, suited fortheir requirements. The tool will only give the trader’s wants and needsaccording to their pre-defined preferences and settings.
Already have a MetaTrader 5 account with LegacyFX?
Download the Guardian Angel tool for free:
(create an account) (download Guardian Angel)
Guardian Angel Tutorial
The Guardian Angel is enabled in the MetaTrader 5 platform after the completionof 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 mainconsole, click the tray icon on the desktop task line.
This is the main display of messages that will appear every time you open orclose positions. Keep this window open while you trade.Each message will be identified with a different color to state its level ofseverity :
- 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 oldand new messages. If you wish to read older messages, go to the Message Logoption in the main console.
A small envelope indicates that the current message is new and unread. Near theenvelope, there is a number of unread messages.
If you would like to learn about the rationale behind the messages and find moreabout 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 eachmessage topic.
If you find any particular message appearing too frequently, it might be thatyour attention to that issue is needed. However, if you no longer wish to seethis message appear, click the “remove message” option, and the Guardian Angelwill not show it from that point onwards.If at any point you would like to restore this message again, go to the Settingsoption and click Restore Messages Default in the Settings window in the mainconsole.
Clicking on the notification will open the main window, which contains thefollowing options:
Market sensor: This window provides up-to-datevolatility measurements of themarkets you are trading in 3 different time frames: l ast hour, lastday, andlast 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 onthecurrent volatility level.
Statistics: weekly statistics that will appear in themain Guardian Angel window
Settings: In the Settings area, you can adjust theGuardian 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 experiencewith the Guardian Angel. It will help us make improvements in thefuture.
Chat: Click this option to chat with agents whiletrading
Calculator: You can calculate stop loss based onaccount 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 seethe 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, anddate. 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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