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LotSize Calculation - script for MetaTrader 4

Daniel Opoku
Views:
9003
Rating:
(5)
Published:
Updated:
Download as ZIP How to download code from MetaEditor
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Some traders prefer a clean chart without clutter from indicators or write-ups. This script helps calculate the appropriate lot size for Forex or CFD instruments. Simply choose either RiskByPercent (default) and enter your risk percentage, or select RiskByAmount and enter a fixed amount. Then, specify your stop loss in pips (for 4-digit brokers). The script automatically adjusts for 5-digit brokers if needed.

If the calculated lot size is below the minimum allowed, the script will use the minimum lot size.
If it exceeds the maximum permitted, it will use the maximum lot size instead.

An alert will display the calculated lot size, risk amount, converted stop loss, and tick value of the instrument. Use the lot size to enter your trade. 
You can also modify this script to suit your specific criteria or integrate it into an existing Expert Advisor (EA).

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