script or indicator to set up the amount of lots

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Hi

I need a script or indicator to set up the amount of lots. I mean, for example, set up for avoiding lots bigger than "1", or use lots whit risk more than 2%.


Thanks

 
  1. In code: 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    • You place the stop where it needs to be - where the reason for the trade is no longer valid.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.
  2. Use a EA GUI such as the one for MT4: Indicators: 'Money Manager Graphic Tool' indicator by 'takycard' Forum - Page 5
 
whroeder1:
  1. In code: 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    • You place the stop where it needs to be - where the reason for the trade is no longer valid.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.
  2. Use a EA GUI such as the one for MT4: Indicators: 'Money Manager Graphic Tool' indicator by 'takycard' Forum - Page 5 
I start with this but there is somethin wrong' cos doesn't work.


void OnStart()
  {
//---
  
  }
//+------------------------------------------------------------------+

extern double ExtMaximumRisk=0.025;             // 5% by default
 
//--- calculate current volume
double CalculateVolume()
  {
   double lot_min =MarketInfo(Symbol(),MODE_MINLOT);
   double lot_max =MarketInfo(Symbol(),MODE_MAXLOT);
   double lot_step=MarketInfo(Symbol(),MODE_LOTSTEP);
   double contract=MarketInfo(Symbol(),MODE_LOTSIZE);
   double vol;
//--- check data
   if(lot_min<0 || lot_max<=0.5 || lot_step<=0.0)
     {
      Print("CalculateVolume: invalid MarketInfo() results [",lot_min,",",lot_max,",",lot_step,"]");
      return(0);
     }
   if(AccountLeverage()<=0)
     {
      Print("CalculateVolume: invalid AccountLeverage() [",AccountLeverage(),"]");
      return(0);
     }
//--- basic formula
   vol=NormalizeDouble(AccountFreeMargin()*ExtMaximumRisk*AccountLeverage()/contract,2);
//--- additional calculation
//   ...
//--- check min, max and step
   vol=NormalizeDouble(vol/lot_step,0)*lot_step;
   if(vol<lot_min) vol=lot_min;
   if(vol>lot_max) vol=lot_max;
//---
  return(vol);
  }
 
adriandd:

...


  
I start with this but there is somethin wrong' cos doesn't work.


void OnStart()
  {
//---
  
  }
  1. "Doesn't work" is meaningless - just like saying the car doesn't work. Doesn't start, won't go in gear, no electrical, missing the key, flat tires - meaningless.
    We can't see your broken code.
    There are no mind readers here and our crystal balls are cracked.

  2. Please don't add text inside quoted text or SRC blocks, put it outside.
              MQL4 forum editor problem - MQL4 and MetaTrader 4 - MQL4 programming forum

  3. Exactly what do you think that function does?
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