Position Size Companion
- Utilities
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Chukwubuikem Okeke
In Christ Alone ✝️ | MQL5 Tutor 📈
Driven by an insatiable curiosity for the markets and a passion for problem-solving.
I specialize in building robust Expert Advisors, custom indicators, and advanced trading utilities using MQL5. - Version: 1.50
Position Size Companion – Interactive Risk & Lot Calculator for MT5
Position Size Companion is a professional, chart-based position sizing tool designed for traders who demand precision, speed, and visual clarity when managing risk. It is fully suitable for both Forex markets and synthetic instruments such as Volatility indices (e.g., V75), and similar symbols.
With this tool, traders can bid farewell to constantly using external or built-in GUIs that require manual input of entry and stop-loss prices. Instead of typing values into dialog boxes, you simply define your trade directly on the chart, exactly where price action matters.
The tool instantly calculates:
- Correct lot size
- Exact monetary risk
- Expected reward
- Entry, Stop-Loss, and Take-Profit levels
All calculations are performed in real time, directly on the chart, and are fully based on your predefined risk rules and selected risk-reward ratio.
Key Inputs Explained
1. Position Settings
Risk Type: Choose between fixed monetary risk or percentage of account balance.
Risk Per Trade: Monetary value or percentage (depending on selected risk type).
Risk-Reward Ratio: Defines how far Take-Profit is projected relative to Stop-Loss.
2. Visual Settings
Extend to the right: Option to project levels forward.
Entry / SL / TP Colors & Styles: Full control over line appearance for clarity and consistency.
How It Works
1. Enable the tool using the ON/OFF button displayed on the chart.
2. Right-click and drag on the chart:
- First point(Mouse right-click) : Entry price
- Second point : Stop-Loss price
3. The indicator automatically:
- Draws a projection
- Calculates the correct lot size
- Projects Take-Profit based on the selected Risk-Reward Ratio
4. Release the mouse right button and instantly see:
- Entry price
- Stop-Loss price and monetary risk
- Take-Profit price and expected reward
- Calculated lot size (rounded to broker constraints)
Everything updates in real time while you drag, providing immediate and accurate visual feedback.
📘User Guidance
After downloading, if you find any part of the tool confusing or need clarification on its usage, you are welcome to send me a private message, and a clear usage manual and explanation will be provided.
