Market / MetaTrader 4 / Utilities /

Lot calculator tool

30 USD

Demo downloaded: 544

Published: 16 November 2016

Current version: 3.28

Lot calculator tool

3.55

Utilities
Ernestas Kvedaras
Version: 3.28
Updated: 13 January 2023
Activations: 20

MetaTrader 5 ported version is available here: Lot Calculator Tool MT5.

This tool helps you to automatically calculate and manage risk, conveniently place orders visually, schedule orders, trail stops, move them to break-even, manually test strategies and more.

Features

Place market or pending orders using draggable lines
Schedule orders
Calculate and limit risk using various methods
See current spread
See time till next candle
Set custom order comments
Trail stops
Move stops to break-even
See order profit/loss in pips
Various actions for closing orders
Control the tool using hotkeys
Toggle trade levels
Manually test strategies using this tool tester mode with controllable speed

Settings

Risk settings

Preferred percentage risk per trade - tool will calculate lot size to match this risk percentage
Lot calculation mode - possible modes: current balance / current equity / balance at defined past / fixed lot size
Defined past period - possible periods: day / week / month
Past period multiplier - the bigger, the further to the past
Lot size for fixed mode
Split risk for multiple targets

Orders settings

Magic number
Maximum allowed slippage
Order comment - limited to 31 characters. Possible wildcards: [currency], [balance], [equity], [risk_percentage], [risk_reward], [risk_money], [risk_pips], [profit_money], [profit_pips], [lots]
Allow to change default order comment - adds an input to UI
Log order send events
Allow setting an expire date for orders
Allow scheduling orders
Virtual levels settings
Scheduled order price label size

Break-even settings

Move stops to break-even at certain level
Break-even mode - possible modes: when in profit by given pips, if away from target by given pips, if given percentage of target reached
Break-even activation pips / % - depends on chosen mode
Move to break-even by given pips above entry line

Stop trailing settings

Trail stops
Trail only after stops have been move to break even, if be used
Trailing stop mode - possible modes: fixed pips, ATR, moving average
Trailing stop fixed pips
Trailing stop ATR period
Trailing stop ATR shift
Trailing stop distance multiplier - does not apply to MA mode, but useful for setting 2 ATR distance
Trailing stop MA mode, applied price, period, shift
Prevent stops trialing until specified pips of profit reached
Pips of profit to reach before trailing stops - if above enabled
Prevent stops trailing until specified percentage of target reached
Percentage of target to reach before trailing stops - if above enabled

Order limiter settings

Limit trades if lost to many trades in a row per day
Limit trades if too big % of account has been lost per day
Limit trades if too big % of account has been lost per week
Limit trades if too much will be at risk at the moment
Daily loss in a row limit
Daily account loss % limit
Weekly account loss % limit
Total risk of equity % limit

Lines settings

Automatically choose initial lines placement (sell / buy) - uses price and moving average to decide
Manual default start position for lines - if above disabled
Initial distance from current price mode - possible modes: fixed pips, ATR
Initial distance parameter (ATR period / pips)
Line size, style
Use target line
Display "Add target" button
Prevent from moving stops too far, thus exceeding defined risk
Display monetary amounts on lines
Display balance percentages on lines
Display scheduled order lines
Scheduled order line style

Other features

Display lines flipper button
Display "Follow price" button
Show "Close all/pending/opened" buttons
Show "Close in profit/loss" buttons
Display only one order button
Display current spread
Display time till next candle
Display Ask/Bid line by default
Display order profit in pips
Display order close button
Screenshots

Color settings

Color for lines, buttons, inputs and other UI elements

Hotkeys settings

Enable hotkeys
Show lines hotkey
Hide lines
Toggle trade levels

Tester settings

Initial tester speed

UI settings

Chart corner
UI on top
Compact mode

Important: if order limiters are used, make sure that your Account history tab is not filtered and displays all of the history.

Important: do not have more than one EA enabled for the same symbol with scheduled orders enabled. This might cause more than one order being sent to broker!

more...

Napasorn . 2023.01.11 01:14 #

I edit from 2 stars to 5 stars as the owner fixed the EA regards to the 5th decimal point. Would be perfect if he add field to put in commission charged per lot as well.

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I like this ea interface very much. but there is problem with the 5th decimal place of currency price. for example for 4.9 pips SL distance, it will see as 4.0 pips. not just the display but it use 4.0 pip in the lot calculation too instead of using 4.9 pips. For the EA to use 4 pips is very misleading, instead of 4.9

The ea neglects the point (5th decimal place). this is a big deal for me as I like to trade lower time frame. I hope the owner will fix this because I still like the interface of this ea very much. giving this a 2 star is not what I enjoy doing because otherwise is 5 stars. The owner respond to my questions everytime which is very nice. but correct risk calculation is the heart of this.

503

Matthew 2022.06.02 22:26 #

I give this tool 5 Stars because it does everything it promises and saves a lot of time. Very helpful to place orders with the right risk management without thinking. It has a lot of extra features, but for me its enough to place orders for my trend following strategy with the right riskmanagement!

150

Jazz1964 2020.12.16 15:35 #

Very helpful tool. I use it for all my manual trading. Works very well, no problems at all.

Edit 29-12-2020: Ernestas reviewed my request for two features and decided to add them to the tool. He did the job perfectly. Thank you!

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Custom Ultimate Sniper Dashboard MT4 Once you purchase, send a message to my inbox for manual. Are you tired of missing out on profitable trades because you can't keep up with market movements? Look no further because the Custom Ultimate Sniper Dashboard is here to help. This EA upgrade to the original Ultimate Sniper Dashboard indicator is specifically designed for users of the Meta Trader 4 (MT4) platform, and it packs a punch with its impressive arsenal of 98 algorithms. These algorithms wo

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The Expert Advisor will send notifications via Discord when orders are opened/modified/closed on your MetaTrader 4 account. - Send message and screenshot to Discord group/channel. - Easy to customize message. - Support custom message for all languages - Support full Emoji. - Send report Daily, Weekly, Monthly ( must show all history of orders ) Parameters - Discord url Webhook - create webhook on your Discord channel. - Magic number filter - default all, or input magic number to notify with

99 USD

The MT4 to Discord Signal Provider is a user-friendly, fully customizable utility designed for sending trading signals directly to Discord. This tool transforms your trading account into an efficient signal provider. Customize message formats to suit your style! For ease of use, select from pre-designed templates and choose which message elements to include or exclude. [ Demo ] [ Manual ] [ MT5 Version ] [ Telegram Version ] Setup Follow our detailed user guide for easy setup. No prior knowled

59 USD

Introducing the OrderManager : A Revolutionary Utility for MT4 Manage your trades like a pro with the all-new Order Manager utility for MetaTrader 4. Designed with simplicity and ease-of-use in mind, the Order Manager allows you to effortlessly define and visualize the risk associated with each trade, enabling you to make informed decisions and optimize your trading strategy. For more information about the OrderManager, please refear to the manual. [ Demo ] [ Manual ] [ MT5 Version ] [ Telegr

50 USD

More stable MetaTrader 4 version is available here: Lot Calculator Tool . This tool helps you to automatically calculate and manage risk, conveniently place orders visually, schedule orders, trail stops, move them to break-even and more. Features Place market or pending orders using draggable lines Schedule orders Calculate and limit risk using various methods See current spread See time till next candle Set custom order comments Trail stops Move stops to break-even See order profit/loss in

30 USD

MT5 version available here: MT5 Drawer . This tool allows you to draw on the chart using keyboard shortcuts. It also provides some custom drawing tools for your convenience. You can configure 3 variants for each tool (6 for advanced patterns), which you will be able to choose from dashboard. There is also, a possibility to define up to 30 quick access keys that skips the dashboard step and goes straight to drawing. Here are the list of supported tools: Advanced Pattern - draws two triangles Ris

30 USD

MetaTrader 4 version is available here: MT4 Drawer . This tool allows you to draw on the chart using keyboard shortcuts. It also provides some custom drawing tools for your convenience. You can configure 3 variants for each tool (6 for advanced patterns), which you will be able to choose from dashboard. There is also, a possibility to define up to 30 quick access keys that skips the dashboard step and goes straight to drawing. Here are the list of supported tools: Advanced Pattern - draws two t

30 USD

Filter:

Napasorn . 2023.01.11 01:14 #

I edit from 2 stars to 5 stars as the owner fixed the EA regards to the 5th decimal point. Would be perfect if he add field to put in commission charged per lot as well.

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323

DaJenks Jenks 2022.09.06 03:05 #

this utility sucks it crashes a lot

503

Matthew 2022.06.02 22:26 #

764

ANDRE ALMEIDA 2021.01.26 13:07 #

In the lower times it does not calculate correctly! Useless tool.

2805

Reply from developer Ernestas Kvedaras 2023.01.17 21:50 #

Should calculate correctly now

150

Jazz1964 2020.12.16 15:35 #

Very helpful tool. I use it for all my manual trading. Works very well, no problems at all.

Edit 29-12-2020: Ernestas reviewed my request for two features and decided to add them to the tool. He did the job perfectly. Thank you!

pavelznava 2020.10.05 21:38 #

Podrobnější návod třeba i video jak nadstavit kterou položku a jak nadstavit v testeru jinak skvělý nástroj .Děkuji

charlieraly 2020.01.06 10:20 #

I keep getting error code 130-unknown TF when using renko charts. I'm asking for a refund

rmiguel 2019.12.10 02:27 #

I feel like I lost my money! It's unstable, it freezes I regret buying this.

1506

Morard Kevin 2018.05.23 13:01 #

Juste parfait!

117

Liquinvest 2017.08.15 16:37 #

hi, fantastic indicator - for the Breakeven Funktion i have an idea. Stop-loss = Breakeven Level. The idea behind is for the % trader. example: 8 pips = 1% risk. Breakeven after 8 pips - R:R 1 -(maybe there will be an option stop loss + x pips) - so if you have 20 pips 1% risk then break even is after 20 pips. That is better for trader with fix % risk so the break even level is always the same in % risk.

[Deleted] 2017.07.31 10:19 #

User didn't leave any comment to the rating

122

4xonly 2017.07.21 16:49 #

Fine EA to control risk and profit "on the move" and the coder keeps implementing the suggestions by the users. I bought a much more expensive one long time ago (not actively developed anymore) but this one is much handier to use. I too hope Ernestas will code an MT5 version for the future.

573

rakyan 2017.04.10 20:38 #

Everything I'm looking for, and more. Save me a lot of time

140

985398 2016.12.12 08:14 #

I purchased this EA which is really misnamed. It should be called: Lot Calculator & Adjustable Visual Order entry with stop, limit and market order tool and yes, a great strategy tester interface. I now use it for every trade and would hate to part with it. I hope the author is learning MT5 coding for when MT4 is discontinued in the near future.

Excellent product!!!

Version 3.28 2023.01.13

Fixed

* Use the precise amount of pips in calculations instead of integers only, this should help with calculating more accurate lot size in low timeframes

Version 3.26 2022.02.02

Added

* Close long / short orders buttons

Version 3.25 2021.11.04

Fixed:

* Lot size calculation when equity mode is used
* Display correct label (balance/past balance/equity) on lines based on chosen mode
* Send orders with correct lot size when only one target is used
* Show correct lot amounts on target lines when multiple of them are used and custom lot distribution fields are displayed

Version 3.23 2021.07.27

Fixed:

* Profit target was not being set when sending order with only 1 target.

Version 3.22 2021.01.10

Fixed:

* An issue where single target orders where sent as 0.01 lot sized

Updated:

* Prevent distributed risk from being 0. It should be minimum 1, otherwise risk distribution gets higher by 0.01 lot

Version 3.21 2020.12.28

Added:

* Ability to define maximum lot size to prevent accidentally high orders
* Ability to define custom lot distribution between multiple target orders. Each field defines how much of the remaining lot size should be allocated for that order. So the last value should almost always be 100% to give the remaining order all remaining lots.

Version 3.20 2020.10.06

Fixed:

* Locked RR will now work with locked stops and price following

Version 3.19 2020.10.03

Added:

* Ability to lock Risk Reward ratio by either pressing a new UI button or a hotkey (R by default)

Version 3.18 2020.03.01

Fixed:

* A glitch in UI elements positioning. Make sure that lines toggle button is always the first one.
* Break even and stop trailing should manipulate virtual levels if order was created with them instead of moving/creating real ones.

Version 3.17 2020.02.23

Fixed:

* Improve UI elements scaling on high DPI displays

Updated:

* Show more information in order send confirmation box

Version 3.16 2020.02.23

Added:

* Option to ask for a confirmation before sending an order

Version 3.15 2020.02.23

Updated:

* Code updated to work with new compiler.

Version 3.14 2019.02.25

Added:

* Fixed amount risk mode. EA will attempt to calculate lot size so it matches preffered monetary value as close as possible

Version 3.13 2019.02.25

Fixed:

* When using account balance for risk calculation add account credit to the mix

Version 3.12 2019.02.13

Added:

* Close all symbols button

Version 3.11 2019.02.03

Added:

* Option to change risk percentage without changing EA parameters

Version 3.10 2018.10.30

Fixed:

* Stop lock feature now works with price following enabled as well

Updated:

* Prevent entry line from being selected and moved by user when price following is enabled

Version 3.9 2018.10.23

Added:

* Added a button to lock current stop loss distance from entry line. Can be enabled by setting "Show Fix stop line distance from entry line button" to "true"

Version 3.8 2018.07.09

* Fixed an issue when line text was not updating when target line was disabled
* Added the new feature to enable fixed stop distance

Version 3.7 2018.05.31

Fixed:

* Issues with using virtual levels
* Errors when using move to breakeven feature with pending orders
* Disable the pending order button when any of the rules is violated (see: https://book.mql4.com/appendix/limits )

Version 3.6 2018.02.21

Added:

* Ability to take a screenshot by pressing a button or a hotkey
* Ability to automatically take screenshots of placed, opened, modified, deleted, closed, winning or losing orders

Fixed:

* Crashing when virtual levels are enabled

Version 3.5 2018.02.09

Added:

* Virtual stop loss and target profit levels
* Toggle to prevent disabling lines when an order is placed

Version 3.4 2018.01.11

Added:

* Ability to show order close button and other UI elements on the left instead of on the right
* Added starting position distance multiplier
* Added starting position risk reward option
* Added compact mode
* Added options to keep UI elements on the same line

Version 3.3 2017.12.27

Added:

* Scheduled orders
* Ability to set expiration date

Fixed:

* Issues with price following when loading from chart template

Version 3.2 2017.11.07

Fixed:

* Breakeven feature was only working with long orders. Now it works with both long and short orders.
* Order close button and other UI elements linked to specific order were most likely only being removed when the EA is operating in the Strategy Tester. Now it works in normal mode, too.
* The EA no longer hangs when an order is closed.

Version 3.1 2017.10.24

* Fixed an issue with tool crashing when loading chart from template

Version 3.0 2017.10.16

Changed:

* Complete rewrite of the code to ease and speed up future improvements and increase stability
* Refactored settings to ease understanding
* UI rewriten to be more flexible to extend and control

New:

* All features moved under feature toggles
* Tiny buttons to close order (color changes)
* Order profit in pips (color changes)
* Spread display
* Time till next candle display
* Ability to change custom order comment
* Toggleable lines text parts such as monetary values
* Configureable initial lines distance and position auto detection
* Ability to show only one order button depending on entry line position and current price
* Hotkeys to toggle lines and trade levels
* Trail stops only after moved to break-even (configurable)
* Trail stops only after reaching some profit
* Buttons to close all, market, pending, profitable or loosing orders

Fixed:

* Order limiters issues and added notice message before using them

Removed:

* Removed theming since it only made the code very complex and did not add any real value
* Removed redundant tester settings

Version 2.7 2017.08.03

* Fixed issue with black / white entry line color auto switch
* Add extra targets on the correct side of entry line
* Fixed issue when risk was split no matter what config value is set to
* Added setting to control default "Follow Price" button state

Version 2.6 2017.07.28

* Added "Follow price" button. When toggled, entry line will follow current price.
* Display potential profit in account balance percentage.
* Fixed issue, which caused orders not being sent if profit target line is disabled.
* Fixed issue, with white chart background and default lines theme.

Version 2.5 2017.07.03

* Added break-even stops feature

Version 2.4 2017.05.17

Fixed theme options reloading after editing parameters of already loaded EA

Version 2.3 2017.05.11

* Added new option "Split risk if multiple targets are used"

Version 2.2 2017.03.24

Restore lines on time-frame change

Version 2.1 2017.03.14

If limits are set to 0, they will not be checked

Version 2.0 2017.02.23

New:

* Added ability to customise order comments. Available wildcards:
> [currency]
> [balance]
> [equity]
> [risk_percentage]
> [risk_reward]
> [risk_money]
> [risk_pips]
> [profit_money]
> [profit_pips]
> [lots]
* Added new lot calculation mode: Balance at defined past. Now recommended size may also be calculated of balance at previous point in time (days / weeks / months)
* Added new lot calculation mode: Fixed lot size.
* Added support for trailing stops. Three modes are supported: Fixed pips, ATR, Moving average.
* Added ability to prevent sending orders if daily loss limit has been reached.
* Added ability to prevent sending orders if weekly loss limit has been reached.
* Added ability to prevent sending orders if loss in a row limit has been reached.
* Added ability to prevent sending orders if current total equity risk exceeds allowed one.

Fixed:

* Risk in account currency calculation
* Button positions when places on the right side of the chart

Version 1.1 2016.12.05

* Fixed profit in account currency calculation
* Fixed issues with symbol trade tick size
* Add button to flip lines