Currency risk to lot calculator
This indicator utility maintains the user defined risk/reward ratio (Risk_reward_ratio) between entry, stop and profit price point labels as they are adjusted on the chart.
Position entry (ep), stop (sl) and profit (tp) labels on a chart.
Lot size for the trade is automatically calculated to maintain the user defined monetary risk in the quoted currency (Quoted_currency_risk) and risk/reward ratio (Risk_reward_ratio) of the trade.
Order entry ep, sl and tp are calculated considering spread, risk/reward ratio and monetary risk.
- Risk_reward_ratio - user-defined risk/reward ratio for a trade
Examples:2 = risk 1, reward 2
.75 = risk 1, reward .75
- Quoted_currency_risk - user-defined monetary risk in quoted currency
100 for EURUSD = 100 USD
100 for EURGBP = 100 GBP