PSI Position Size Calculator and More
This is the MT5 version of the absolute OCD tool that delivers Position Size Calculator and many more other options of the matured PSI Position Smart Indicator
Indicator type: Money Management Calculator; Forex Position Size Calculator; Fixed or ATR value for Stop Loss and Take Profit levels; Average Position Size Indicator (True Average Price); Account Information; Stop-out Level, Margin and Risk Exposure Warning, Forex Sessions; Institutional Levels Grid; Major Highs and Lows, Detailed Account Report and much more useful tools applicable both for Price Action or Algo Systems Strategies.
The tool is highly recommended if you participate in a Forex challenge or trade for a funded account as you can observe closely to not exceed your lot size exposure or daily draw-down requirements.
Some of the concepts provided by this tool are inspired by the Free YouTube Content of NNFX (No Nonsense Forex) and ICT (The Inner Circle Trader) Channels as well as some of the most popular funded programs and their requirements thus making it very useful and flexible for wide variety of users.
Be Smart! Calculate your position before you apply your strategy. Know where you are standing, what you are risking, what you put on the table and what you expect to gain. Do you know all that? Well don’t make wild guesses. Just know and be relentless!
The Position Smart Indicator indicator lets you chose risk parameters and calculates the maximum lot size you have to put in the trade plus many additional information panels with commission, swap, pip and point value, real risk taken, spread in points, value and % of the equity, the real average price of the position (accounts for commissions, swap and hedged trades), net result in deposit currency, pips or points and much more.
Among some of the features you can get from this indicator are:
- The range and remaining time of the last candle.
- Stop loss factor. Standard 1.5 times the ATR.
- Take profit factor. Standard 1.0 times the ATR.
- The current equity and allowed risk.
- The maximum allowed lot size.
- The pip and point value.
- Spread in points, percentage from the equity and real value in deposit currency.
- Swap and Commissions.
- Buy Stop Loss, Buy Take Profit, Sell Stop Loss and Sell Take Profit.
- It also presents commission, swap, the real risk and projected gain based on all hidden costs and maximum allowed lots.
- The margin requirement for the trade.
- You can add comments or motivational quotes to your screen or see the instrument description.
- You can change the font face and size.
- You can see your overall account equity, free and used margin.
- You can choose which information panels to show and which to hide. It also lets you use a light version with only the most important information on the screen.
- You can even use this indicator for trailing stop strategies and scaling out.
- Average price line with the net position, the size, the net profit and the net distance to break-even.
- All-time and Daily results, applicable also to Average price if needed.
- Stop-out Level.
- Size exposure.
- Integrated risk and positional warnings.
- Manual entry and Stop Loss, Take Profit, Risk to Reward calculations.
- NY Open line and potential London High, Low target.
- Forex Sessions.
- Focus on Day of Week Price action.
- Interactive buttons.
- Multiple preset brokers and views.
- ATR Strategies (NNFX).
- ICT Killzones, Swings, etc. from the free ICT content.
- Sophisticated Account Report.
Money management is the first and the most important skill you must learn in trading, especially in Forex. Don’t make the mistake anyone else does and learn it the hard way. Use your time and money wisely to acquire this skill.
With this indicator you will have anything you need to precisely position yourself and make smart decisions. If this is not very useful, detailed and pedantic then what is?