lot calculator - risk management tool
Info
The lot calculator - risk management tool is a Indicator for MetaTrader 5 that most of professional traders state that their success is based on strict risk management. this simple tool is designed to show the correct lot size to trade with respect to the following basic risk management rules:risk only a fixed percentage of the total money on the account (e.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Indicator works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Indicators folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use lot calculator - risk management tool
1. Installation: Place your file in the MQL/Indicators folder via "Open Data Folder" and restart your terminal.
2. Loading: Find the indicator in the Navigator, drag it onto your chart, and configure the input parameters in the popup window.
3. Customization: Press Ctrl+I to open the indicator list, select your tool, and click "Properties" to change colors, levels, or visual styles.
4. Updating: Replace the old file in the Indicators folder with the new version and restart the platform to apply changes.
Frequently Asked Questions
Q: Why is my indicator not showing? A: Verify the file is in the MQL/Indicators folder, or try right-clicking the "Indicators" tree in the Navigator and clicking "Refresh."
Q: Do custom indicators slow down the platform? A: Too many complex indicators can impact performance; remove unused ones via the "Indicator List" (Ctrl+I).
Q: Can I use MT4 indicators on MT5? A: No, MQL4 and MQL5 are distinct languages; ensure the indicator is compiled specifically for your platform version.
What this tool does
most of professional traders state that their success is based on strict risk management.
Typical Use Case
This Indicator excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Indicator works on MetaTrader 5. Place the file in the MQL5/Indicators folder and restart the terminal.
Description & Settings
Related: Quantora Account Health Monitor MT5: Professional Account Health and Risk Monitoring - another powerful indicator for MetaTrader 5 traders.
Also recommended: Quantora Drawdown Monitor MT5: Professional Account Risk and Drawdown Dashboard - similar indicator with strong performance on MetaTrader 5.
most of professional traders state that their success is based on strict risk management.this simple tool is designed to show the correct lot size to trade with respect to the following basic risk management rules:
risk only a fixed percentage of the total money on the account (e.g. 1-2%).
risk is measured by distance in pips between order opening to and emergency stop loss.
so, for example you have €2000 in your account, and you want to put an order on eurusd with an emergency stop loss 191 pips from the order open value, what can be the correct lot size to trade?
the formula is:
f * r / (p * pv)
, where:
t - total account free margin.
r - risk.
p - pips between open order and stop loss.
pv - pip value (in the same currency as the account main currency).
the result, as you can see in following figure, is 0.02 lots.
with €2000 available, risk is 165 pips, to risk the 2% you have to trade usdjpy no more than 0.03 lots.
the indicator shows quantities already switched to the current account currency.
in order to change the indicator parameters, simply access indicator properties:
parameters
stop loss distance from open order: pips number to risk.
free margin fraction to risk: a good value range is 0.01-0.02.
check to read the actual free margin of your balance, uncheck to specify a simulated balance: flag used to consider the true free margin or the simulated balance.
simulated balance: free margin value to simulate.
You may also like: Quantora ADR Calculator MT5 - Professional Average Daily Range Indicator for MetaTrader 5 - excellent alternative for indicator users on MetaTrader 5.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property version "1.00"
#property description "this code is educational. feel free to use, modify and upgrade as you wish. visit robotfx.org for professional trading tools"
#property description "this code is educational. feel free to use, modify and upgrade as you wish. visit robotfx.org for professional trading tools"
#property description "this code is educational. feel free to use, modify and upgrade as you wish. visit robotfx.org for professional trading tools"
#property strict
#property indicator_chart_window
#property indicator_plots 0
#define mode_tickvalue .......
⚠ 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.