CueMaster Auto Trading System: Dynamic Trailing Stop with Money Management

Trading Systems Expert Advisors and Automated Trading
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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

CueMaster.ex4 (167.0 KB)