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Automatic resizing of pending order lot size based of % risk and Stop Loss.

MQL4 Indicators

Specification

1. pending order is placed. by default, the pending order is 0.01 lots

2. stop loss line and take profit line both appear. Stop loss line is dragged 30 pips away from Pending Order price.

3. Based of 6% risk and 30 pip Stop Loss, Pending Order Lot size is automatically adjusted.

4. if stop loss line is changed to 40 pips, then pending order lot size again changes accordingly.

update:

5. it will be a pending order Buy Script and Sell Script.

example: attached a pending order sell script. drag the sell script on to the chart and a pending order sell limit or sell stop is placed with stop loss and take profit.

what needs to be added is, when the stop loss line is moved to from 20 pips to 40 pips, the pending order lot size needs to changed so that 6% (can be specified) of the account size is risked on the trade.

Files:

MQ4
DROP_PENDING_SELL.mq4
1.5 Kb

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Project information

Budget
30 - 100 USD
For the developer
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Deadline
to 1 day(s)