MM % volatility
Info
The MM % volatility is a Script for MetaTrader 4 that lot calculation and position opening by market with the consideration of the asset volatility. StopLoss is set automatically, TakeProfit - on demand, as a multiple of R.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Script works exclusively on MetaTrader 4 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL4/Scripts folder via File ? Open Data Folder in MetaTrader 4.
How to Install and Use MM % volatility
1. Installation: Move your script file into the MQL/Scripts directory and restart the platform.
2. Execution: Drag the script onto a chart; it will perform a one-time action, such as closing all open orders or clearing chart objects.
3. Editing: Use MetaEditor (F4) to modify code, click "Compile," and verify no errors appear in the terminal before running.
4. Removing: Scripts stop automatically, but you can remove them manually by right-clicking the chart and choosing "Remove Script."
Frequently Asked Questions
Q: How are scripts different from EAs? A: Scripts execute a single action and then stop; EAs monitor the market and trade continuously.
Q: Can I assign a hotkey to a script? A: Yes, right-click the script in the Navigator, select "Set Hotkey," and define your preferred keyboard shortcut.
Q: Why did my script stop? A: Scripts are designed to stop immediately after finishing their programmed command; this is normal behavior.
What this tool does
Lot calculation and position opening by market with the consideration of the asset volatility.
Typical Use Case
This Script excels in automated trading and technical analysis on MetaTrader 4.
Compatible Platform & Setup
This Script works on MetaTrader 4. Place the file in the MQL4/Scripts folder and restart the terminal.
Description & Settings
Related: Average Volatility Indicator - another powerful script for MetaTrader 4 traders.
Lot calculation and position opening by market with the consideration of the asset volatility. StopLoss is set automatically, TakeProfit - on demand, as a multiple of R.
Also recommended: Titik Impas Breakeven MT4 - similar script with strong performance on MetaTrader 4.
LotSize:=RiskAmount/(PointPrice*StopLossPoints);RiskAmount:=FreeMargin*RiskPercent/100;StopLossPoints:=kATR*ATR(TimeFrame,RiskAtrPeriod)/PointSize;TakeProfitPoints:=StopLossPoints*ProfitToLossRatio.The working function is Trade, in the Trade.mq4 library file. Declaration:
int Trade(string smb, int TimeFrame, int cmd, bool ShowQ, int Slippage, bool SetProfit, double MaxRiskPercent, int RiskAtrPeriod, double RiskMulATR, double ProfitToLossRatio), where:
smb - name of the asset;TimeFrame - used to determine the StopLossPoints;cmd - OP_BUY or OP_SELL;ShowQ - display the dialog asking confirmation (False - no dialog);Slippage - slippage in points;SetProfit - if True - the TakeProfit will be specified in the orders;MaxRiskPercent - % FreeMargin, allowed to risk (2% - classic, 5% - aggressive, higher - based on luck);RiskAtrPeriod - the number of last bars to calculate the true range (21 is sufficient);RiskMulATR - to determine the StopLossPoints;ProfitToLossRatio - multiplicity of R (for example, 5).
Attached scripts:Buy.mq4/Sell.mq4 - buy/sell the current asset, timeframe, with confirmation dialog, slippage of 1 point, 2% risk, RiskAtrPeriod=21, RiskMulATR=1, ProfitToLossRatio=10;Buy_nonQuery.mq4/Sell_nonQuery.mq4 - the same settings, but without the dialog and with slippage=0.
How to install:Trade.mqh - copy to the 'include' subdirectory of the 'experts' directory of the MetaTrader root folder;Trade.mq4 - copy to the 'libraries' subdirectory of the 'experts' directory of the MetaTrader root folder and compile;Buy.mq4, Buy_nonQuery.mq4, Sell.mq4, Sell_nonQuery.mq4 - copy to the 'scripts' subdirectory of the 'experts' directory of the MetaTrader root folder and compile.
You may also like: Save current chart to default template - excellent alternative for script users on MetaTrader 4.
⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.