Risk Sentinel

ONE DRAG SETS THE LOT SIZE - RISK STAYS WITHIN YOUR LIMIT

Risk-first position sizing for traders who protect their capital

Also available for MT4: https://www.mql5.com/en/market/product/185979

Risk Sentinel is a risk-first position sizing and risk management tool for MT5, built for prop-firm evaluation and funded traders. Drag your stop-loss and the lot size recalculates live, so your risk stays fixed no matter the SL distance — no more re-doing the math on every setup. See the exact lot size, risk, reward, R:R and required margin; size by percentage or a fixed cash amount; snap to your open position; and keep your settings and layout across timeframe switches. Planning utility only; it does not place trades or enforce firm rules.

1. Full Feature List

On-chart position tool (TradingView-style)

•  Draggable Entry, Stop Loss, and Take Profit lines — or type exact prices into the dashboard when you need precision instead of the drag.

•  Drag the stop-loss and the lot size recalculates live, so your risk stays fixed no matter the SL distance — the position sizes itself around your risk, not the other way around.

•  Filled risk zone (red) and reward zone (green) that read like a TradingView long/short tool.

•  Long / Short toggle that mirrors SL and TP to the correct side of entry.

•  Smooth single-click-and-drag on any line (no double-click, no re-selecting), with an 8-pixel grab tolerance.

•  On-chart labels on each line: price plus risk/reward in account currency, and live R:R at the entry.

•  Reset button re-centers the tool on the current price with a clean default stop and target when a plan gets messy.

•  Zones hug the right edge of the chart and follow new bars.

Automatic lot-size engine

•  Five Risk Size modes: % of Initial Balance (user-defined starting balance), % of Current Balance, % of Equity (auto-refreshes on a timer), Cash Amount (a fixed cash figure in your account currency), and Fix Lot (fixed volume; drives the risk/reward figures instead).

•  Position size is derived from the Entry-to-SL distance and your chosen risk — percentage, cash amount, or fixed lot.

•  Lot is rounded down to the broker’s volume step and clamped to min/max, so risk is never overshot; if even the minimum lot would exceed your limit, the tool flags it rather than sizing over.

•  Per-point value is computed from contract size × currency conversion — the same basis MT5 uses — so figures stay correct across account currencies and instrument types.

Risk : Reward control

•  Dynamic RR — RR is read live from your dragged or typed SL and TP.

•  Static RR — you enter a target RR and TP is placed automatically from the stop.

•  RR shown at the entry level and in the dashboard.

Stop Loss modes

•  Manual — drag the line or type the exact SL price.

•  ATR-based — enter an ATR period in bars (e.g. 14) and a multiplier; the tool reads the live ATR from the chart’s timeframe and places the stop at ATR × multiplier, refreshing each new bar.

Take Profit modes

•  RR-based — TP follows your RR target and re-adjusts automatically when the stop moves.

•  Manual — drag the line or type the exact TP price.

Broker spread modeling

•  One-tap toggle to fold the live broker spread into the calculation.

•  Adds spread to the stop distance and subtracts it from the target — the true cost of entry.

•  Shows net RR and the current spread in points.

•  Draws a second, labeled effective SL / TP line. Each level’s raw and spread-adjusted figures (price + money) sit on opposite sides of the line, so they never overlap — even when the spread is a single point.

Snap to Position

•  One click pulls your open price, SL, TP, direction, and volume from the live position onto the tool, so the dashboard matches the broker’s order window exactly — no manual dragging.

Floating dashboard

•  Draggable and minimizable panel that remembers its position and settings across timeframe changes.

•  Editable Entry / SL / TP price boxes for exact levels; read-only fields grey out when the mode computes them for you (ATR stop, RR target).

•  Dark / Light theme toggle.

•  Lock toggle — makes the on-chart lines inert so clicks pass through to your broker’s execution lines when the plan overlaps a live trade.

•  Hide Box toggle — hides the on-chart lines/zones for a clean chart while keeping the dashboard live.

•  Reset button — re-center the tool to a clean default plan.

•  Highlighted lot size for at-a-glance reading (theme-aware).

•  Live trade-plan summary: Lot Size, Risk (money), Reward (money), RR, Required Margin, and Margin as % of equity.

•  Every setting is adjustable both from the panel and from the indicator inputs.

Compatibility

•  Works on any symbol — forex, metals, indices, and other CFDs.

•  Correct for any account deposit currency and any account leverage.

•  Works on netting and hedging accounts.

2. What It Does NOT Do

•  It does not open, modify, or close trades. It is a planning and visualization indicator, not an Expert Advisor or auto-trader.

•  It does not generate buy/sell signals or entry/exit advice.

•  It does not manage open positions (no trailing stop, no break-even automation, no partial close).

•  Margin for CFDs/indices is a close estimate (marked with a ~) because brokers use custom margin rates; forex and metals margin are exact.

•  For instruments not quoted in your account currency, the relevant conversion pair must be present in Market Watch (e.g., EURUSD for a EUR-quoted index).

•  The ATR-based stop reads the current chart timeframe’s ATR — ATR(14) on M5 is a different distance than ATR(14) on H1.

•  Spread figures use the live spread at the moment of calculation, which naturally fluctuates.

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Key benefits

•  Never breach on a sizing mistake — the exact lot for your risk cap is computed for you, live, on every drag or edit.

•  Made for prop rules — fixed-% sizing off initial balance, current balance, or equity fits static and trailing-drawdown evaluations alike.

•  Risk your way — by percentage or by a fixed cash amount, with a hard cap that never exceeds what you set.

•  Drag for speed, type for precision — set levels by eye or to the exact price; the lot size updates either way.

•  Risk-first by design — you set the risk; the tool finds the size, not the other way around.

•  Discipline as a routine — the same drag-read-confirm sequence before every entry builds the consistency evaluations reward.

•  Honest R:R — spread modeling shows what you’ll really get, so your reward targets stay realistic.

•  Verifiable, not hype — matches your broker’s order window to the cent; no black box, no claims.

•  Stays out of the way — lock and hide keep it from cluttering a live trade.

Ideal for

•  Prop-firm traders in evaluation — who must hit a target without breaching daily-loss or max-drawdown limits.

•  Funded traders — protecting the account and the payout with consistent per-trade risk.

•  Discipline-builders — anyone moving from discretionary lot sizes to a repeatable, risk-first routine.

•  Discretionary and technical MT5 traders who size by fixed-percentage risk on forex, metals, or indices.