New Forex Stuff CueMaster Auto Trading System: Dynamic Trailing Stop with Money Management

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Unveiling CueMaster: A Dynamic Trailing Stop Expert Advisor​

In the fast-paced world of forex trading, Expert Advisors (EAs) play a crucial role in automating trading strategies and optimizing the decision-making process.

Introduction​

CueMaster is a MetaQuotes Language 4 (MQL4) Expert Advisor designed to assist traders in making informed decisions and executing trades automatically. Let’s delve into the key features and strategies embedded in this EA.

Dynamic Trailing Stop​

At the heart of CueMaster lies a dynamic trailing stop mechanism. Traders have the option to enable or disable this feature using the boolean variable Trall_on. When activated, the EA implements a trailing stop, allowing profitable trades to capture additional gains while minimizing potential losses.

  • Tral_Start: This parameter sets the initial trailing stop value in points.
  • Tral_Size: It determines the step size for the trailing stop, regulating how closely it follows the price.

Money Management​

Effective money management is a cornerstone of successful trading. CueMaster provides traders with flexible options to manage their risk and lot sizes.

  • Risk: The percentage of the account balance that traders are willing to risk on each trade. If set to 0, a fixed lot size specified by DefaultLot is used.
  • DefaultLot: The fixed lot size used when Risk is set to 0.
  • MaxLot: This parameter restricts the maximum allowed lot size for a trade.
  • FixLot: A boolean flag determining whether the lot size is fixed (true) or dynamically adjusted based on risk (false).

Trading Methods​

CueMaster offers multiple trading methods, allowing traders to choose a strategy that aligns with their preferences.

  • Metod 1: Implements a Martingale strategy where the lot size increases after each losing trade.
  • Metod 2: Represents an alternative trading method where additional parameters, such as Dist, may be utilized.

Overview of the Strategy:​

  1. Default Profit and Stop Loss:
  • The EA has a parameter DefaultProfit, which represents the default profit in points to be taken when a trade is in profit.
  • StopLoss is another parameter that represents the stop loss in points. If set to 0, it means no stop loss will be applied.
  1. Trailing Stop:
  • Trailing stop functionality is controlled by the boolean variable Trall_on.
  • If Trall_on is true, the EA will apply a trailing stop to the trades.
  • Tral_Start is the initial trailing stop value in points.
  • Tral_Size is the trailing step size in points.
  1. Money Management:
  • The EA implements a form of money management using the parameters Risk, DefaultLot, MaxLot, and FixLot.
  • If Risk is greater than 0, the EA will calculate the lot size based on the percentage risk per trade.
  • If Risk is set to 0, the EA will use a fixed lot size specified by DefaultLot.
  • MaxLot restricts the maximum allowed lot size.
  • FixLot is a boolean flag. If set to true, the lot size is fixed; if set to false, the lot size is determined dynamically based on risk.
  1. Trading Method (Metod):
  • The parameter Metod determines the trading method.
    • If Metod is set to 1, it suggests the use of a Martingale strategy where the lot size increases after each losing trade.
    • If Metod is set to 2, it implies a different trading method where additional parameters might be involved, such as Dist.

Instructions for using CueMaster​

Timeframe: H1

Currency Pairs: EUR/USD, USD/CAD and USD/CHF

Compatibility: Only MetaTrader 4
 

Attachments

  • CueMaster_EA.zip
    164.6 KB · Views: 14
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