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Order Size Advisor

Order Size Advisor is an utility indicator showing information about  the ORDER SIZE (LOTS) in the main chart window in REAL TIME.

It is useful namely for beginner traders.


How to use Order Size Advisor:

1. Place (drag and drop) Order Size Advisor into your chart.

    2. Choose Swing High (SH) and Swing Low (SL) as a possible location of Stop Loss orders.

    3. Measure the number of bars between SH and actual bar (High Stop Loss Candle Number) and between SL and actual bar (Low Stop Loss Candle Number).

    4. Open the dialog box of the indicator to edit:

      a) Risk of Account in % (for instance 1)

      b) High Stop Loss Candle Number

      c) Low Stop Loss Candle Number

      d) Text Arrow Distance (if necessary).

Red down arrow and up green arrow show locations of the high and low used for calculation.

Values of maximum lot sizes and positions of arrows recalculate when a tick comes.


Value number of the maximum order size has 3 decimal places (0.001).

In most cases, brokers allow to place order with a minimum value of 0.01 lots for currency pairs and the same size (0.01) is the minimum step for order size.

Take this order size limitation into consideration.


Note:

The Order Size Advisor (indicator) works only if the market is active. It means when ticks come (Monday to Friday for standard currency pairs, for cryptocurrency also during weekends).

Instance 1:

You chose risk percent 1.

Order Size Advisor shows maximum order size of 0.011.

You can place the order of size 0.01 and your risk will be lower than the chosen 1%.


Instance 2:

You chose risk percent 1.

Order Size Advisor shows maximum order size of 0.009.

You can place the order of size 0.01 and your risk will be higher than the chosen 1%.


Instance 3:

You chose risk percent 1.

Order Size Advisor shows maximum order size of 0.002.

You do not have enough money to place the order within the chosen parameters (risk percentage and stop loss location.)



Information given by the Order Size Advisor IS NOT a trade recommendation.

Take the information about the maximum order size as a warning/guideline of how much money you can lose.


Do not use bigger risk percent. Trade small (1% - 2% risk percent is enough).

You shlould think twice before you place the order.

ALWAYS use Stop Loss! Preserve your capital.



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