Automatic lot size based on horizontal line

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Hi guys! 

I was looking for an automatic lot size calculator based on a horizontal line. All the stuff I have found are position size calculators, but then you have to manually enter the lot number in the Red/blue chart with the buy/sell buttons. I need something that automatically calculate the lot size and plot the number, so that when I want to buy or sell, dont have to write manually the lot size.
For example, I used to open trades based on 70usd stop loss per lot. I have a script called LOCLinePipsAgile that shows the number of pips between the position of an horizontal line and the real time price. So, when I want to go long, I place the horizontal line in the same position that the stop loss will be. If the number in pips below this line is for example 100, I have to open the trade with 0.70 lots on the GBP/USD. I want something that plot the 0.7 automatically and when I click buy, the trade opens with 0.70 or 0.75 or 0.8, do you follow me?
That will be a great tool for my 1min scalping strategy, and I will save some good seconds and always open the exact lot size I need.
Do you know some script or EA like this? If not, i think it will be something easy to code, what do you think guys?

Thanks for the help! Take care

Add some pics here

Files:
Horizontalline.JPG  23 kb
LotSize.JPG  20 kb
 

Try this.

 
nicholishen:

Try this.


Thanks friend, but not what i am looking for. The open line should be the price in real time, and the position size should appear automatic on the Sell/Buy chart, but the concept is close. Do you code mt4?

 
ivanalexx:

Thanks friend, but not what i am looking for. The open line should be the price in real time, and the position size should appear automatic on the Sell/Buy chart, but the concept is close. Do you code mt4?

Yes... I made that indicator
 
ivanalexx: so that when I want to buy or sell, dont have to write manually the lot size.
Use a EA GUI such as the one for MT4: Indicators: 'Money Manager Graphic Tool' indicator by 'takycard' Forum - Page 5
 
whroeder1:
Use a EA GUI such as the one for MT4: Indicators: 'Money Manager Graphic Tool' indicator by 'takycard' Forum - Page 5

wow looks so good and complex, it seems you know a lot! I am trying it, let me catch it. I have to figure out how to fix the the stop loss not to a % of the account balance, but tomorrow i will take a look, but yes this is what i was looking for man!! Thanks a lot! Do you code EAs? Would be great to know that for future indicators or experts I need

 
ivanalexx: . I have to figure out how to fix the the stop loss not to a % of the account balance,
A stop loss has no "% of the account balance" it is a price. Risk depends on your initial stop loss, lot size, and the value of the pair.
  • You place the stop where it needs to be - where the reason for the trade is no longer valid. E.g. trading a support bounce the stop goes below the support.
  • Account Balance * percent/100 = RISK = OrderLots * (|OrderOpenPrice - OrderStopLoss| * DeltaPerLot + CommissionPerLot) (Note OOP-OSL includes the SPREAD, and DeltaPerLot is usually around $10/pip but it takes account of the exchange rates of the pair vs. your account currency.)
  • Do NOT use TickValue by itself - DeltaPerLot and verify that MODE_TICKVALUE is returning a value in your deposit currency, as promised by the documentation, or whether it is returning a value in the instrument's base currency (EUR, in this case).
              MODE_TICKVALUE is not reliable on non-fx instruments with many brokers.
  • You must normalize lots properly and check against min and max.
  • You must also check FreeMargin to avoid stop out
Most pairs are worth about $10 per PIP. A $5 risk with a (very small) 5 PIP SL is $5/$10/5=0.1 Lots maximum.
 
nicholish en #:

Try this.

Is there a version for MT5 ?
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