EQ Peg is a nearby (6.26 pc) M3.5/M4.5 dwarf flare star binary system with a period of $\sim 180$ years. We present results of a 6.7 hour observation of EQ Peg obtained with the I:IO photometer on the Liverpool Telescope in the SDSS-U passband and compare these with simultaneous radio observations at 4.5-7.5 GHz, part of a campaign involving the eMERLIN and LOFAR radio telescopes to distinguish coronal against stellar magnetospheric emission with U band data used to identify any 'white light' flare events associated with the latter. Of the two components, EQ Peg A was found to be particularly active with a complex pattern of flare events occurring towards the end of the optical observations. These flares had a U' band energy of up to $2.7 \times 10^{31}$ erg. Crosley \& Osten (2018), give a threshold of $8.38 \times 10^{29}$ erg in SDSS U' for a stellar flare to have an accompanying CME, if stellar and solar flares occur at the same flare energy. We see quiescent emission with no flares detected in the eMERLIN data for both EQ Peg A and EQ Peg B. Taken together these data suggest a complex interplay of coronal physical processes resulting in the observed multi-wavelength emission.