A cTrader plugin is a software add-on designed to enhance the functionality of the cTrader trading platform. cTrader is a popular trading platform used by forex and CFD traders for its user-friendly interface and advanced trading features. Plugins in cTrader are typically used to automate trading strategies, integrate third-party tools, or provide additional functionalities that are not available in the base platform.
Based on these inputs, the calculator then determines the appropriate position size, usually in terms of lot size or contract size, that aligns with the trader's risk management strategy and by using a position size calculator, traders can ensure that each trade is sized appropriately to manage risk and optimize returns.
An example of a 3rd party plugin to help traders, is the TradingView Technical Analysis Forex plugin, this calculates and displays historical price data and trading volume, these tools help traders and investors identify trends, patterns, and potential future price movements in stocks, commodities, currencies, and other financial instruments. You can download this plugin for Free from the ClickASlgo Plugin Store.
When you download a plugin from a 3rd party vendor like ClickAlgo, the file could be compressed as a zip file, you will need to unzip the file and double click on it to automatically install into the cTrader platform. Once installed it will show in the Active Symbol Panel, Watchlist or on a chart and at anytime you can turn on or off the plugins by opening cTrader settings and clicking on the plugins link.
To create a cTrader plugin is very simple, you start by opening cTrader Algo (formally Automate) and selecting to plugin tab, once this is open you can choose to create a blank or a pre-built plugin template from the availble list. This will automatically generate the source code ready for you ro start adding new features. You can also use our custom coding service to build a plugin from your specifications.