Lot Lines Calculator
Most professional traders declare strict compliance with risk management.
This simple tool allows quick calculation of trading lot size in accordance with the following basic risk management rules:
- The maximum allowable risk is set as a fixed percentage of the account deposit (for example, 1-2%).
- The risk is measured as a distance in points between the order opening level and the stop loss level.
It is always difficult for beginners to calculate trade lot based on the risk value, so this indicator has been developed to help them.
The indicator represents two lines with information blocks. The blue line is set on the chart at the order opening price, and the red line is set on the stop loss price. The distance between the lines in points and the lot size in accordance with risk percentage settings are calculated automatically. Lines can be dragged using the mouse, which is very convenient. The indicator has a switch to fix the set stop loss and calculate the risk depending on the distance. There is a button for deleting lines. You can also add multiple pairs of lines.
When the indicator is launched on the chart, the "Lots" button appears. A click on this button allows adding lines to calculate the lot size. Use the mouse to select a place on the chart for the lines. A left-click on the chart creates two lines with the information panel.
Using the mouse, you can grab the line between the panels and drag it to the desired place on the chart - lot and risk will be recalculated automatically.
- The first digit in the panel is the number of the lines pair, you can apply several pairs.
- The second digit is the lot size for the stop loss line (red line), and the risk size in % for the order opening line (blue line).
- "V" is the lock button - when pressed, the second digital field is fixed - you can change the value in the field, and it will not change while moving lines. If the button is unpressed, then the field is unlocked, the value in the second field cannot be changed and it automatically changes when moving.
- The third digit is the distance in points for 4-digit or in pips for 5-digit value for the stop loss line; for the order opening line this is the amount expressed in the account currency.
- The "X" button deletes lines corresponding to the pair number.
- Trendline - it should be selected in order to be dragged. The trend line can be expanded/shortened. If you grab the right point of the trendline with the mouse and drag it to the left side, the panels will switch places.
- A text label is available at the end of the line - it shows the price of a currency pair.
The indicator has additional parameters, which are in the property table.
- Pos_X и Pos_Y - the position of the "Lots" button
- Distance between lines
- Size of the trend line
- Trendline color
- Price tag size
- The amount of risk from the deposit, % - the amount is calculated as percentage value of a deposit.