Risk Lot Sizer MT4
- Indicators
- Version: 1.1
- Activations: 10
Risk Lot Sizer MT4
Risk Lot Sizer MT4 is a lightweight position size and risk calculator for MetaTrader 4.
It allows discretionary traders to place Entry, Stop Loss and Take Profit lines directly on the chart and immediately see the calculated lot size, actual monetary risk, actual risk percentage and reward-to-risk ratio.
The indicator is designed to stay out of the way of price analysis. It does not open, modify or close trades.
How it works
Set your preferred risk and move the Entry, Stop Loss and Take Profit lines on the chart.
The indicator recalculates the position size automatically according to the Stop Loss distance and the symbol specifications provided by the broker.
Risk can be configured in two ways:
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Percentage Risk: specify a risk percentage based on either account Balance or Equity
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Fixed Risk: specify a fixed monetary risk amount in the account currency
In Percentage Risk mode, the risk amount is calculated from the selected percentage of Balance or Equity.
In Fixed Risk mode, the specified monetary amount is used as the risk limit regardless of the account balance.
The calculated lot size is rounded down according to the broker's minimum lot, maximum lot and lot step. This helps prevent the displayed lot size from intentionally exceeding the selected risk limit.
If the broker's minimum lot would already exceed the selected risk limit, no lot size is suggested and a warning is displayed.
Main features
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Draggable Entry, Stop Loss and Take Profit lines
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Automatic position size calculation
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Percentage Risk based on Balance or Equity
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Fixed monetary Risk mode
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Target risk and actual risk display
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Actual risk percentage
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Potential reward and reward-to-risk ratio
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Guided, Compact and Minimal display modes
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Independent horizontal text position for Entry, Stop Loss and Take Profit
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Automatic initial Stop Loss distance based on ATR and visible chart range
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Automatic initial Take Profit based on the selected reward-to-risk ratio
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Broker minimum lot, maximum lot and lot-step handling
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Available-margin lot limitation
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Warning when the broker minimum lot would exceed the selected risk limit
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Automatic summary text color for light and dark chart backgrounds
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Manually customizable Entry, Stop Loss and Take Profit line colors
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Customizable line styles, widths, fonts and text positions
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Compact show/hide button
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One Risk Lot Sizer instance per chart
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No trade execution
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No DLL required
Forex and CFD calculation
For Forex symbols, the indicator normally uses the tick specification supplied by the broker.
For CFD-type instruments, Risk Lot Sizer can use contract size and profit-currency conversion. This helps avoid incorrect risk calculations on broker feeds where tick value may not be expressed correctly in the account deposit currency.
The indicator is intended for Forex and common CFD instruments such as metals, stock indices, energy products and cryptocurrencies, subject to the symbol specifications supplied by each broker.
Symbol names, contract sizes, lot steps, margin rules and profit currencies can differ between brokers.
For unusual CFD symbols or broker naming conventions, an advanced profit-currency override is available.
Display modes
Guided
Displays the main calculation values in a clear format, including lot size, target risk, actual risk, actual risk percentage and R:R.
Compact
Uses shorter labels and less chart space.
Minimal
Keeps most information next to the Entry, Stop Loss and Take Profit lines and only shows important status messages in the chart corner.
Line information
The indicator can display information directly next to each line.
For example:
Entry:
Lot 0.21
Stop Loss:
-JPY 15872 | 1.95%
Take Profit:
+JPY 24589 | 1.55R
The displayed currency follows the account deposit currency.
Light and dark chart backgrounds
The summary text color can automatically adapt to the chart background.
On a light background, the summary text is displayed in a dark color.
On a dark background, the summary text is displayed in a light color.
Entry, Stop Loss and Take Profit line colors are not changed automatically and can be customized manually in the indicator settings.
Important notes
Risk Lot Sizer MT4 is a calculation and trade-planning tool only.
It does not place orders, modify positions, close trades or provide trading signals.
Calculations depend on the symbol specifications supplied by the broker. Contract size, tick data, lot step, margin rules, symbol naming and profit currency can differ between brokers.
Actual trading results can differ from the displayed calculation because of spread, commission, swap, slippage, price gaps and changes in broker specifications.
For uncommon symbols or unusual broker specifications, verify the calculated values before placing a live trade.
Testing on a demo account is recommended where the required instrument is available.
Trading leveraged products involves a risk of financial loss. The user is responsible for verifying position size and risk before placing an order.
