Trailing Master script
One of the techniques for maintaining profits and minimizing losses is to use a “ Trailing Stop ” order in trading.
However, in many cases, the standard and familiar trailing does not satisfy all the requirements and does not solve the tasks that a trader may set for it.
Therefore, auxiliary scripts and advisors come to the rescue, which significantly expand the functionality of a standard order.
You can get acquainted with one of these Forex scripts in this article.
The Trailing Master script is an auxiliary advisor for a trader, the essence of which is to automatically perform both mass and single trailing orders when the price reaches a specified profit value for the order.
It is worth noting that Trailing Master actually works with the trader’s already open transactions and does not execute them himself, so it can work with any trading assets, as well as on any time frames.
A notable feature of this proprietary auxiliary robot is that it is able to recognize orders necessary for tracking both by the code assigned by another advisor and by comments that can be assigned to orders in the mode of independently opening positions.
Installing the Trailing Master script
Trailing Master, despite the fact that it is more often called a script, is designed as a separate advisor that is capable of monitoring the market around the clock and performing actions, in contrast to a script, which is triggered only when it is plotted on a chart.
The robot itself appeared in 2016, moreover, it was publicly disclosed and placed completely free of charge in the official library of developers of the MT4 trading terminal.
Thus, all users of this trading terminal without exception can install it without any additional downloads.
In order to install Trailing Master you will need to use the built-in library. To do this, launch your trading terminal, in which you plan to use the advisor in the future, and move to the very bottom, where you study the history of transactions and monitor changes in your balance.
Open the library tab and start sorting, making it so that only advisors appear in the list.
Find Trailing Master in the list, focusing on the development dates for 2016, and install it using the additional menu, following the instructions in the picture below:
Also, if any problems arise, for example, the developer removes a script from the library, you can use the standard installation approach.
Download the Expert Advisor file at the end of the article and transfer it to the appropriate folder in the terminal data directory, namely the folder called Expert. The next step after installation is to update the platform using the additional menu in the Navigator panel or simply restart the terminal.
Principle of use.
Settings Trailing Master performs a fairly simple function, which is to drag your stop order to the trade opening point at the moment when the price reaches the specified profit value, which you specify in the expert settings in advance.
The robot can work both with the entire series of orders and track specific orders. For example, for other advisors or for those opened manually by you with an assigned comment.
So in the Trailing Stop line you can set the trailing size in points.
The Use Certain Order Comment variable allows you to enable the function of tracking orders by comments, and you can specify the comment itself in the Certain Order Comment variable. The Use Certain Order Magic Number variable allows you to enable the function of tracking orders by Magic number, and you can set the number itself in the Certain Order Magic Number line.
The Trailing Master script, unlike the standard trailing stop, is more convenient, since it can track open transactions for you in real time.
Moreover, if you use other advisors or grid strategies, the expert will significantly save your time and get rid of routine.
Download Trailing Master