I trade forex, gold and indices on MetaTrader 5, and for a long time I missed a few simple tools that I had on other platforms. So I built them myself – and decided to share them for free. Here are the first three. All of them are indicators only: they never open, modify or close trades.
1. Sizer Planner – plan the trade before you take it
Before every trade you need the right lot size, and you want to see the risk and the reward clearly. Sizer Planner puts this on the chart: drag the stop loss and the target lines, and a small card shows the lot size, the risk, the reward and the R:R right away.
· Risk as a percentage of the balance or as a fixed amount
· Market or pending mode – in pending mode it shows the order type (buy/sell limit or stop)
· Warnings when the lot is below the broker minimum or the free margin is not enough
· Movable card, dark and light charts, sharp on 4K screens
Because it is an indicator and not an Expert Advisor, you can also use it on prop firm accounts where EAs are not allowed. You type the values into the order window yourself.
Find it on the MQL5 Market: search for "Sizer Planner" – https://www.mql5.com/en/market/product/202253
2. SX HTF Candles – the higher timeframe next to your chart
When I trade on M1 or M5, I want to see the bigger candles without switching timeframes. SX HTF Candles draws the candles of a higher timeframe in a clean block on the right side of the chart, with the time left in the current candle.
· One or two higher timeframes, automatic or chosen
· Adjustable number of candles – the block stays the same width, the candles get narrower
· Optional levels: higher-timeframe open, previous candle high/low and 50%, daily and weekly open
· Timeframe buttons on the block and automatic dark/light look
Find it on the MQL5 Market: search for "SX HTF Candles" – https://www.mql5.com/en/market/product/202567
3. SX Fair Value Gap (SX FVG) – which gaps are still open?
SX Fair Value Gap marks fair value gaps with the classic 3-candle rule and shows how far the price has already gone into each gap. You can see at a glance which gaps are still untouched.
· Open gaps have a solid frame, touched gaps a dashed frame – the part not reached yet keeps its colour
· Filled gaps stop at the candle that filled them and fade
· The 50% line always stays in the middle of the original gap
· Gaps of M15, M30, H1, H4, D1 or W1 with one click, each with its own colour and name
Find it on the MQL5 Market: search for "SX Fair Value Gap" – https://www.mql5.com/en/market/product/202913
More tools are coming
These three are just the start. I am working on more tools for manual traders, and on SizerX, a full trade and risk manager for MT5. If you find these indicators useful, follow me here on MQL5 to see the next ones – and if something is missing or not working as you expect, leave a comment. Your feedback shapes the next updates.
