Sightline Trade Panel Lot Calculator MT5
- Utilities
- Version: 1.0
- Activations: 10
Sightline Trade Panel Lot Calculator MT5 is a trade panel for manual traders. You line the trade up on the chart, it works out the lot size from your risk, and one button places it. After that it helps you manage the trade. It gives no trading signals.
PLAN THE TRADE
- Three lines on the chart: entry, stop and target. Drag them with the mouse.
- Drag the stop above the price and the plan turns into a sell by itself.
- Risk sizing: percent of balance, a money amount, or a fixed lot. The lot is rounded down to your broker's lot step.
- Target: type a multiple of your risk, or drag the target line by hand.
- Tags on the lines show the distance in points, the money at risk and the money at target.
PLACE THE TRADE
- Market or pending. In PENDING mode you drag the entry line and the panel picks limit or stop for you.
- One PLACE button shows the side and the lot size.
- If the trade cannot be sent, the button tells you why: stop too close, not enough margin, lot below the minimum.
MANAGE THE TRADE
- BREAKEVEN: moves the stop to your entry price.
- CLOSE PART: closes part of the trade (50 percent by default).
- CLOSE ALL, CLOSE WINNERS, CLOSE LOSERS and DELETE PENDING.
- AUTO BE, AUTO PART and TRAILING switches on the panel. Each one acts at a multiple of your original risk, for example at 1 times the risk.
- A "Next" line on the panel shows what the automatic management is waiting for, and at which price.
- Choose to manage every trade on the symbol, or only trades the panel opened.
SAFETY
- PLACE and the CLOSE buttons need two clicks by default, so no accidents. You can switch this off.
- Margin, lot limits and the broker's minimum stop distance are checked before anything is sent.
SETUP
1. Attach it to the chart you trade and keep Algo Trading switched on.
2. Click LINES, drag the stop to where your trade idea is wrong, and check the lot size.
3. Click PLACE twice.
PLEASE READ
- It manages trades on the chart's own symbol. Use one panel per symbol.
- The automatic features need a stop on the trade. A trade with no stop is not managed until you give it one.
- Orders are sent at market price, so the fill and the final risk can differ slightly from the plan in fast markets.
- On netting accounts a partial close is done with an opposite deal.
- The buttons and drag lines need a normal chart. In the Strategy Tester the panel places its own small demo trades so you can watch the automatic management work.
- This tool does not make trading decisions and does not guarantee any result.
MAIN INPUTS
- Risk mode, Risk value, Target as a multiple of risk, Starting stop distance in points
- Trades to manage
- Automatic breakeven, Breakeven: trigger at this multiple of risk, Breakeven: points locked in beyond entry
- Automatic partial close, Partial close: trigger at this multiple of risk, Partial close: percent of the trade to close
- Trailing stop, Trailing: start at this multiple of risk, Trailing: distance in points
- Magic number of panel trades, Max slippage, PLACE and CLOSE buttons need two clicks
- Panel position, Panel X, Panel Y, Font size
