Prop Firm Guard: Risk & Sizing Tracker by TFT

Prop Firm Guard: Risk & Sizing Tracker by TFT

Overview:
This script is designed to help prop firm traders stay within risk rules and avoid emotional overtrading. It tracks your max loss limits, daily loss rules, and gives real-time position sizing suggestions based on your account status.
This tool is especially helpful for newer traders navigating prop firm challenges and rules like trailing drawdowns and daily stopouts.

Key Features:
✅ Real-time tracking of max loss and daily loss limits
✅ Supports both Intraday and End-of-Day (EOD) drawdown styles
✅ Calculates remaining “distance” to max/daily loss levels
✅ Automatically locks max loss once it trails up to starting balance
✅ Provides smart, tier-based position sizing suggestions (5%–50%)
✅ Shows profit target progress and live daily P&L

Use Case Example:
Let’s say you’re trading a $50,000 prop account with a $2,000 max drawdown limit.

If you're using Intraday Drawdown:
• You start the day at $50,000.
• During the day, your balance grows to $51,000 (including unrealized profits).
• The drawdown logic will trail this intraday high — so your new max loss limit becomes $49,000 (51K - 2K).
• If your balance drops to $49,400, this tool will show you’re $400 away from breaching the limit.
• Sizing suggestions will adjust accordingly to keep you in a safe range.

If you're using End-of-Day (EOD) Drawdown:
• The same scenario (account grows to $51,000 intraday) won’t affect your max loss limit immediately.
• EOD drawdown is only updated based on your end-of-day closing balance.
• So even if you hit $51K intraday, your max loss limit still remains at $48,000 (50K - 2K) until the trading day closes and updates your best equity.
• This mode offers more flexibility during the day — and the tool reflects this in how it calculates distances and sizing.

📌 It will then suggest a conservative sizing range — maybe 5–10% of your allowed contract size — until you're safer again.
📌 Make sure you update your current balance after each trade and follow your risk settings.

Inputs Explained (with Tips):
• Overall Account Starting Balance: Your full prop account size (e.g., 50000 or 100000, 150000, 300000, so on)
• Day Start Balance: What your balance was when the trading day started
• Daily Max Loss: How much you’re allowed to lose in one day (used only for EOD drawdown)
• Daily Profit Target: Your goal for the day (e.g., 500 or 1000 or so on)
• Allowed Overall Drawdown: Usually 4% for prop firms — like 2000 on 50K, or 6000 on 300K
• Drawdown Mode:
 → Intraday: Includes floating/unrealized profits in drawdown logic
 → EOD: Uses only end-of-day equity for drawdown logic
• Best Day High: Your highest balance to date. If not above your starting balance, this is ignored
• Intraday High (Manual): Optional override if your peak balance isn’t same as equity (used only for intraday drawdown mode)
• Current Equity: Update this during the session to reflect your live balance — everything else updates automatically

What You’ll See on the Chart:
🟩 Equity Section: Start balance, current balance, intraday high, best day high
🟥 Risk Section:
• Max loss limit (based on trailing logic)
• Distance from current balance to that limit
• Daily loss limit and distance (EOD mode only)
🟦 Performance Metrics:
• Daily P&L in $ and %
• Progress to profit target (shows ✅ Accomplished when goal is hit)
📦 Sizing Suggestion:
Based on how close you are to a drawdown breach, and your total drawdown tier.
Ranges from ⚠️ 5–10% to ✅ 40–50% of your max allowed contract size.

Who It's Best For:
• Built and optimized for 50K prop firm accounts
• Works well with 100K, 150K, or even 300K — but the sizing logic is most precise at 50K
• Best suited for futures or forex prop firm traders using account challenge-style rules

Manual Input Required:
Due to TradingView limitations, we cannot read your actual trades or live balance.
You'll need to update the Current Equity field yourself — but the rest is auto-calculated from there.
Most inputs (like overall balance and drawdown) are set once and rarely changed.

Beta Notice:
This tool is currently in beta and under testing. It's free for now and designed to help the trading community — but accuracy may vary.
Please send feedback if you'd like to suggest improvements or report bugs.

Disclaimer:
This tool is for educational purposes only and does not provide trading advice or signal any trades.
Always trade according to your firm’s rules. The author is not responsible for losses resulting from use of this script.