The Chart Mechanics Risk and Position Size MT5
- Utilities
-
Daniel Reynolds
MQL4 and MQL5 developer building Expert Advisors, indicators, trade panels and utilities for MetaTrader 4 and 5.
What I build: - Version: 1.0
Know your lot size before you click Buy or Sell.
The Chart Mechanics Risk and Position Size is a free panel for MetaTrader 5. Set how much you want to risk and where your stop goes, and it shows the lot size to use and the money actually at risk in your account currency. It is an indicator, so it never opens, changes or closes trades.
WHAT IT SHOWS
- Lot size, rounded DOWN to your broker's lot step, so you never risk more than you set
- Money at risk after rounding, in your account currency
- Size before rounding, so you can see what the rounding cost you
- Money per pip for the size shown
- Margin needed for the trade
- Reward and R multiple at a target line (Lines mode)
THREE WAYS TO SET THE STOP
- Pips
- Points
- Lines on the chart: drag the entry, stop and target lines and the panel updates as you move them, with price and money tags on each line
RISK YOUR WAY
- Risk as a percentage or a fixed amount of money
- Size from Balance, Equity or Free margin
- Optional commission per lot (round turn) included in the risk
- Optional: add the current spread to a pips or points stop
WARNINGS
- Size below the broker minimum, and what the minimum lot would actually risk
- Size above the broker maximum
- Not enough free margin for the trade
ACCURATE ACROSS MARKETS
The MetaTrader 5 version uses the terminal's own profit calculation, so it works on forex, metals, indices and other CFDs with your broker's contract settings. The MetaTrader 4 version uses your broker's tick value and tick size.
CLEAN AND EASY TO USE
- Dark, light or automatic theme that follows your chart colours
- Place it in any corner; size scales automatically with your screen
- Collapse it with one click when you want a clear chart
- Your changes are remembered for each chart
INPUTS
- Risk per trade (%)
- Size from: Balance / Equity / Free margin
- Stop set in: Pips / Points / Lines on the chart
- Stop distance (pips) and Stop distance (points)
- Commission per lot, round turn
- Add the current spread to a pips/points stop
- Theme: Auto / Dark / Light
- Panel corner, distance from the side and top
- Size (0 = automatic)
- Show price and money tags on the lines
HOW TO USE
1. Attach it to any chart.
2. Enter your risk and choose how to set the stop.
3. Read the lot size and money at risk, then place the trade yourself as normal.
Tools and education only. Not financial advice. Trading involves risk; you can lose more than you expect if prices gap past your stop.
