buy using amount instead of lots
Info
The buy using amount instead of lots is a Script for MetaTrader 5 that open a buy position using the desired dollar amount instead of lots. to use, just drop it onto a chart and set inputs as needed.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Script works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Scripts folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use buy using amount instead of lots
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
open a buy position using the desired dollar amount instead of lots.
Typical Use Case
This Script excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Script works on MetaTrader 5. Place the file in the MQL5/Scripts folder and restart the terminal.
Description & Settings
Related: set stop loss on all open positions by target loss amount - another powerful script for MetaTrader 5 traders.
open a buy position using the desired dollar amount instead of lots.
Also recommended: Using Object Property X Offset and Y Offset in MQL5 - similar script with strong performance on MetaTrader 5.
to use, just drop it onto a chart and set inputs as needed.the script will then do the necessary lot calculation and open the trade.
inputs:
fixed_deal_amount: fixed amount to use per trade e.g 100 to open a r100 deal
use_sl_on_buy: if true then a suitable stoploss will be used, else no stop is placed but can be placed manually after opening position
one can also set a global variable '_symbol+_max_spread' to set max spread limit for each traded instrument.
e.g for eurusd the global variable would be: eurusd_max_spread
e.g for nasdaq 100 the global variable would be: nasdaq 100_max_spread
You may also like: sell using amount instead of lots - excellent alternative for script users on MetaTrader 5.
Source Code
#property strict
#property script_show_inputs
#include <Trade\Trade.mqh>
#include <Trade\SymbolInfo.mqh>
#include <Trade\AccountInfo.mqh>
#include "TradeHelper.mqh"
input double FIXED_DEAL_AMOUNT = 10000.00; //FIXED_DEAL_AMOUNT: Fixed amount to use per trade
input bool USE_SL_ON_BUY = true; //USE_SL_ON_BUY: Use stop loss on Long position
void OnStart()
{.......
⚠ 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.