Scripts: Pro Traders see RISK as Percentage MT4

Automated-Trading
158395
Automated-Trading  

Pro Traders see RISK as Percentage MT4:

Most traders keep losing money because they focus on money rather than planning their trades based on Percentage risk.

Author: fxweirdos weirdos

Pierluigi_Bernardi
5
Pierluigi_Bernardi  

Esteemed Fxweirdos, 

this code is really nice, I added one "else if" so that also btcusd positions risk is nicely calculated. I also placed the label in CORNER_RIGHT_UPPER position where it fits better imho.  

Thank you very much for sharing it.  I'm really a newby in coding, so if I can, i'd like to ask something about the code and maybe give a suggestion. 

First, I'd like to undestand the double called "dSLTP" defined into "dValuePips": what is it, related to dSL and dTP? (these last are clearly defined). 

I'm not used to set take profits, so i'm focused in the risk part. I see that if I use trailing stop, so that my stop losses become stop profits, the indicator can give wrong calculations since it does not makes difference wether the SL is under or above the entry price. 

Cheers. 

Documentation on MQL5: Math Functions / MathSin
Documentation on MQL5: Math Functions / MathSin
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MathSin - Math Functions - MQL5 Reference - Reference on algorithmic/automated trading language for MetaTrader 5