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Forex Money Management

This is a very useful Forex indicator; I personally use it to help me trade Forex. This is a great Forex trading tool to own if you have multiple open buy/sell orders, or multiple pending buy or sell orders.


Settings

  • IncludeCommission: True/False (if true, the indicator will add broker's commission into calculation)
  • IncludeSwap: True/False (if true, the indicator will add broker's swap into calculation)
  • MonitorAllSymbols: True/False the indicator will search through orders placed of different symbols into calculation)
  • TextSize: 10 (default setting for size is 10)
  • TextCorner: Upleft (where it will appear on chart)

Here's the case scenario #1:

I placed 1 market sell order at 1.00010 stop loss placed at 1.00122, Take Profit is placed at 1.00001

10 minutes later, I placed another market sell order at 1.00020 stop loss placed at 1.00122, Take Profit is placed at 1.00001

20 minutes later, I placed another market sell order at 1.00030 stop loss placed at 1.00122, Take Profit is placed at 1.00001

30 minutes later, I placed another market sell order at 1.00040 stop loss placed at 1.00122, Take Profit is placed at 1.00001

  • The indicator will look through all my open orders, it finds sell orders that have stop loss placed, It will display on chart how much money I will lose if my stop loss is hit
  • The indicator will look through all my open orders, it finds sell orders that have take profit placed, It will display on chart how much money I will win if my take profit is hit
  • The indicator will ignore any open sell orders that do not have stop loss or take profit placed.

Here's the case scenario #2:

I placed 1 market buy order at 1.00100 stop loss placed at 1.00001, Take Profit is placed at 1.00301

10 minutes later, I placed another market buy order at 1.00090 stop loss placed at 1.00001, Take Profit is placed at 1.00301

20 minutes later, I placed another market buy order at 1.00080 stop loss placed at 1.00001, Take Profit is placed at 1.00301

30 minutes later, I placed another market buy order at 1.00070 stop loss placed at 1.00001, Take Profit is placed at 1.00301

  • The indicator will look through all my open orders, it finds buy orders that have stop loss placed, It will display on chart how much money I will lose if my stop loss is hit
  • The indicator will look through all my open orders, it finds buy orders that have take profit placed, It will display on chart how much money I will win if my take profit is hit
  • The indicator will ignore any open buy orders that do not have stop loss or take profit placed.

Here's the case scenario #3:

  • The indicator will look through all my pending sell orders, it finds pending sell orders that have stop loss placed, It will display on chart how much money I will lose if my stop loss is hit

  • The indicator will look through all my pending sell orders, it finds pending sell orders that have take profit placed, It will display on chart how much money I will win if my take profit is hit

  • The indicator will ignore any pending sell orders that do not have stop loss or take profit placed.

Here's the case scenario #4:

  • The indicator will look through all my pending orders, it finds pending buy orders that have stop loss placed, It will display on chart how much money I will lose if my stop loss is hit

  • The indicator will look through all my pending orders, it finds pending buy orders that have take profit placed, It will display on chart how much money I will win if my take profit is hit

  • The indicator will ignore any pending buy orders that do not have stop loss or take profit placed.

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