Strifor Risk Master

RiskMaster — Risk Manager for MetaTrader 5

RiskMaster is an expert advisor for the MetaTrader 5 platform designed for automated risk control at the account level. The main objective of the system is to ensure strict risk management discipline and prevent exceeding predefined loss limits.

The expert continuously monitors trading performance and automatically reacts when set thresholds are reached.

Key Features

Risk Limits Control

RiskMaster allows you to set maximum allowable loss levels:

• daily risk
• weekly risk
• monthly risk

Limits can be defined:

• as a percentage of equity
• as a fixed monetary amount

The expert automatically calculates the current trading result and compares it with the defined limits.

Automatic Account Protection

When any risk limit is exceeded, RiskMaster can automatically:

• close all open positions
• delete all pending orders
• block further trading until the end of the selected period (day / week / month)

This prevents further losses and enforces trading discipline.

Flexible Risk Calculation System

The expert supports multiple calculation methods:

• based on Equity (including floating PnL)
• based on Balance (closed trades only)

You can also choose the calculation base:

• current account balance
• fixed capital value

Loss Streak Control

RiskMaster includes additional protection against consecutive losses.
After reaching a predefined number of losing trades, the system can temporarily block trading (cooldown mode).

Rolling Window Risk

The expert supports risk control within a rolling time window.
For example:

• maximum loss within 1 hour
• automatic trading block if exceeded

This helps manage short-term risk spikes.

Reliable Position Closing

To ensure proper execution, the expert includes parameters such as:

• maximum slippage
• number of close attempts
• delay between attempts
• operation timeout

This ensures reliable closing even during high market volatility.

Order Filtering

RiskMaster can operate:

• on all account positions
• only on specific instruments
• only on selected Magic Numbers
• only on orders with specific comments

Information Panel

An on-chart panel displays key parameters:

• base capital
• daily risk limit
• weekly risk limit
• monthly risk limit
• current result
• remaining allowable risk

This allows real-time account monitoring.

Purpose

RiskMaster is designed for:

• professional traders
• algorithmic trading
• prop trading
• fund/account managers
• systematic risk control

The expert enforces strict risk discipline and protects trading capital from excessive losses.

Important Functionality Note

RiskMaster only works when the MetaTrader 5 platform is active and the Expert Advisor is running on a chart.

If any of the following occurs:

• "Allow algorithmic trading" is not selected in the Expert Advisor settings
  
• In Tools ---> Options ---> "Allow algorithmic trading" and "Allow DLL imports" are not selected
  
• The platform is closed
  
• The terminal is disconnected
  
• The profile is changed to one without the Expert Advisor
  
• The Expert Advisor is removed from the chart
  

— risk control will stop, as MetaTrader does not execute the Expert Advisor’s code outside of an active session.

Recommendation

For stable and continuous operation, it is recommended to use a remote server (VPS or remote desktop), where:

• MetaTrader 5 runs continuously
• RiskMaster is active on a chart
• the terminal operates 24/7

This ensures uninterrupted risk control regardless of your local machine or internet connection.

An additional advantage of using a remote server is reducing the risk of manually disabling the risk manager, helping maintain discipline and strict adherence to trading limits.