Lot Size Calculator and TPSL
- This calculator helps you calculate the following parameters that suits your need accurately and fast.
- order lot size
- take profit price
- stop loss price
Additional features in the calculator:
- The calculator has been optimized for use of various color schemes, which are as below at this current version.
- Money to win: The money that you plan to win in your account currency.
- Pips to win: Number of pips that you plan to win.
- Open price: The opening price of your order.
- Pips to add on open price: Number of pips that you plan to add to your open price to calculate the take profit/stop loss price.
- Pips to minus from open price: Number of pips that you plan to minus from your open price to calculate the take profit/stop loss price.
You attach this calculator indicator to the symbol USDJPY and set the properties as followed.
Money to win(USD): 100
Pips to win: 200
Open Price: 123.611
Pips to add on open price: 300
Pips to minus from open price: 400
Text Color: Red
Example Calculator Output (see screenshots for better understanding)
Symbol Spread: 19 pips
1 Pip Profit Per 1.00 Lot : 0.81 USD
Lot Size To Win 100 USD For 200 Pips : 0.62
Open Price (123.611) + 300 Pips : 123.911
Open Price (123.611) - 400 Pips : 123.211
- For xxxUSD symbols/pairs, the 1 pip profit per lot is a fixed value. For example, at Broker A, 1 pip profit per lot for EURUSD is always 1.00 USD.
- But, for USDxxx symbols/pairs, its 1 pip profit is changing depending on current price. For example, at Broker A, 1 pip profit per lot for USDJPY is 0.81USD at ask price 123.563. When the ask price changes, the 1 pip profit per lot will vary too.
- This calculator is especially helpful when you start trading pairs/symbols that are USDxxx or those pairs/symbols/CFDs that you are not familiar yet in the Metatrader 4 platform.
2. Added an error code prompt if error happens at a user side. This is allows a user to feedback easily to the indicator author.
3. An object is now deleted correctly when the indicator is de-initialized.
4. Fixed the error (division by 0) during the MT4 platform startups when the data is not ready. Added the protection code for the indicator to work properly now.