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You liked the script? Try it in the MetaTrader 5 terminal # Lot sizing risk based and also converting the currency of the account - script for MetaTrader 4

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Published:
2020.04.22 20:14
Updated:
2020.05.03 12:19

I know you're not going to read everything so I'm saying this at the start : IT'S A SCRIPT !  SO IT GOES TO THE SCRIPT FOLDER

So this is it, the following code is based on the following article https://www.fxtrademaker.com/fx_calculation.htm. I had a lot of jobs where the customer was asking me to add a risk based lot sizing (so that when you loose a trade on a SL, you loose only this particular percentage of your account, and not more based on the specific lot sizing), but I never knew the correct formula. Then I discovered that you had 3 cases. (USD is going to be the main currency used)

• First case is the "Direct Rate" if you look at the link above you will see it clearly explained. when you have a direct rate that means that for example your account is in USD and you have a currency like XXXUSD so the formula to calculate the lot size is the following :
```//DIRECT RATES
if(symbol_currency_right==acc_currency){// so when the right currency is the same as your account currency (XXXUSD) in our example
lot_size=money_risk/(dix*sl);//then you divide the money that you want to risk by the Point digits times the size of the lot (standard,micro) times the pips of the SL
}```

• Second case is the "Indirect Rate", it has a type USDXXX just look up the article to know how it is constructed, or analyse the code :
```else if(acc_currency==symbol_currency_left){//GBPXXX
}```
• Last and most complicated case is when the main currency (USD) is not in the symbol at all, you have to pass through a middle currency to convert it correctly so the type would be XXXXXX. The code is a bit more complicated, and an error that I had at the beginning was that the middle symbol wasn't found in the market watch when you tried to get the current price, so first you have to add it
```else if(acc_currency!=symbol_currency_left&&acc_currency!=symbol_currency_right){///XXX XXX
string symbol_2=StringConcatenate(symbol_currency_left,acc_currency);
SymbolSelect(symbol_2,true);

if(r__2==0){
symbol_2=StringConcatenate(acc_currency,symbol_currency_left);
SymbolSelect(symbol_2,true);

}

}```

This code will not work in the strategy tester unless you add a fixed quote of a middle symbol as entry. MA HISTOGRAM

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