Market / MetaTrader 4 / Utilities /

Lot Size Risk Manager

FREE

Published: 17 March 2017

Current version: 1.6

Lot Size Risk Manager

Utilities
Volkan Yurci
Version: 1.6
Updated: 13 August 2019

Why do you need this script?

If you place lots of orders and re-calculate your risk for every order you placed, you definitely need such a script.

This script places one or (optional) two different orders with the following script inputs.

Utility parameters

Operation Type - "Buy","Sell","Buylimit","Selllimit","Buystop","Sellstop"
Price - Entry price of the order(s).
Stop Loss - Stop Loss of the order(s).
Take Profit 1 - Take Profit of the first order.
Take Profit 2 - Take Profit of the second order. (optional)
Risk Ratio % - Places new order(s) according to this Risk Ratio (%) of Free Margin
Comment - this comment will be displayed on the orders of the Trade window.

Calculation Example

Assume we need to open an order NZDJPY

Price: 81.720
Stop Loss: 80.900
Risk pips: 81.720 - 80.900 = 820 pips. (x)
Free Margin: 1280 $
Risk Ratio %: %2
Risk Amount: 1280 $ * %2 = 25.6 $ (y)
Ask (USDJPY): 113.672 (z)

Lot = (y * z) / ( x * contract size(NZDJPY) )

If Only Take Profit 1 is determined lot value is equal to above calculated Lot.

If Take Profit 1 & Take Profit 2 are determined 2 positions are placed with Lot / 2 and have the same Stop Loss values.

It is totally free, no time, no lot, no parity etc. limitations.

Please report any bug issue or free development request (volkanyurci@gmail.com) upon your needs.

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