Helmsman Trade Manager MT4
- Utilities
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Shaikh Sadi
Financial and technical consultant, MQL5 developer and algorithmic trader, based in Dhaka, Bangladesh. - Version: 1.0
Helmsman Trade Manager
Free, and built to stay free.
You already know what you want to trade. The hard part is everything around it — the lot that actually matches your risk, the stop that moves itself, the partial you meant to take, and the rule you promised yourself at three in the morning and broke at ten.
Helmsman does that part, so your attention goes where it belongs: the chart.
Draw the trade. Don't calculate it.
Drag entry, stop and target on the chart. Every line carries its own distance, its money and the reward-to-risk ratio — live, while you drag. One tag sends the order, and it tells you in advance which order it will be: market, stop or limit.
Risk first. Lot second.
Say 1% of balance or 50 dollars. The lot is calculated from your stop and this broker's contract, exact to the volume step. Change your mind and type a lot instead — the risk figure follows it.
Before you commit, the money card shows the truth:
- Risk — the money at stake, coloured green, amber or red against your own limits
- Costs — the spread right now, in points and in money, plus commission (estimated from your own history if you leave it at zero)
- Margin — what it takes, and what stays free
- Reward — the money waiting at your target
Then let go.
- Break-even with an offset, so the spread cannot stop you out at exactly zero
- Four-stage progressive locks — the stop tightens as the trade matures
- Nine trailing rules — fixed distance, ATR, moving average, PSAR, fractals, N-bar high/low, keep a percentage of profit, or a timer
- Partial closes in ten steps, measured in points, in percent of your own target, or in R
- Every armed level drawn on the chart, where you can see it — and a level that has fired greys out instead of vanishing
And be protected from yourself.
Daily-loss lock. Max-drawdown lock. Trades-per-day cap. A brake after losses in a row. A spread gate. An equity floor and an equity target. A trading window with a weekday matrix. A news lockout that names the event it is protecting you from.
Every one of them is off until you want it — and closing a trade is never blocked. Only opening one.
Review it honestly.
Every closed trade in a table: hold time, pips, gross, commission, swap and net. Click a row and it expands into full sentences. The panel checks its own arithmetic against your broker's history and says verified only when they agree to the cent.
Honest by design
The number shown is the number that happens.
- A refusal is spoken in words, with its reason — there is no button here that quietly does nothing
- An estimate is labelled an estimate
- Where the broker records nothing, the panel says so instead of inventing a figure
MetaTrader 4 and MetaTrader 5
The same product on both, built from the same source. Where MetaTrader 4 genuinely cannot do something, the panel says which, and what happens instead. MetaTrader 4 has no economic calendar, so Helmsman brings its own — over the internet with one address you allow, or from a file.
What keeps this free
Helmsman costs nothing, and it is meant to stay that way. It is the first piece of a small suite being built for manual traders — and the fuel for that is not money. It is:
- A GOOD rating.
- A comment.
- A review that says what to fix, or what to build next.
Every serious suggestion received so far is already inside this product. Thirty seconds of your time genuinely buys the next feature.
Talk to the developer
Found a bug? Want something added? Send me a message here on MQL5 — the person who wrote the code reads it. A screenshot and your broker's name is usually enough, and a reproducible report becomes a fix.
What comes next
- A compliance card for prop-firm challenges — how much you may still lose today, and how far the target is
- A one-line verdict before you click
- A keyboard command bar
- A portfolio view across every symbol
- A journal with screenshots
- More languages, in the panel and in the guide
Your review decides the order.
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