Hello Everyone,

I am a manual trader and i am looking to program a simple MT4 indicator to display on the main chart the required lot size to take on the next trade as following:

Lot size =(Equity x 1%) / (open spread + arbitrary number of pips +(Distance between current candle OPEN and SMA50))


The indicator should simply display the calculated Lot size on the screen and refresh it at every new candle
I'd like to have the following variables:
Risk (1% in the above example)
Arbitrary number of pips. This variable would be useful to decrease the lot size) default =zero.

Any help would be apprecaited in directing the right way with Metatrader programing. I never programed.

Thanks,

Gidday


I am looking for a mm system that is based on using the daily range as the TP and SL.


The way I am looking for it to work is the greater the range the more of the FreeMargin is risked and vice versa.

I have attempted to code it my self but have had a bit of trouble

My maths might be wrong but this is what I am looking to acheive.

bar2

H = 1.64947

L = 1.64889

Range = H-L = 58


bar1

H = 1.64922

L = 1.64771

Range = H-L = 151


Percentage Risk = 151-58/151=0.61*100=61%


if there is $1250free margin I would like to the Percentage Risk as above the differance between bar ranges so 1250*61% = 762.5 risked on the next trade.

the Tick value is $10 so $762.5/$10 = 76.25 pips ? i think


the range is 151 from the previous bar so w divide 76.25/151= 0.50 so my lot size is 0.50.


double Range = (H-L);


Is this able to be coded

Beno

Need a calculator for this:

Starting balance 500.00 (this is a plug-in number)

MM=1 (auto money management is on)

Risk set to 1

52 weeks (plug-in number)

Equity growth per week 5% (plug-in number)

So, if user is starting with 500.00 account balance and gains a consistent 5% per week and the lot size adjust by .01 (1 nano lot) for every 5% gain on account, what would the account be at the end of 52 weeks.

I've seen this or something similar but not locating it so hopefully someone has it or can write it. Thank You, Kevin

Thank you. I need to refresh my mm stuff. A little bit lost now :P

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Check out this tread by leeb, he made this EA wich shows you your entry, TP and SL with visual lines which you can move and the data will also change, very nice job!
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