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!
Useful money management expert

Not sure I understand your request. You want to know what size trade to take to risk 1% of your equity based on how far away from the 50SMA price is at the moment? Is that because you are using the 50 as your stop level? If so I have attached two scripts that will do it for you. You just have to input how many pips it is yourself.

Otherwise I can't see how the 50SMA has any relation to your trade size. Risk is totally dependent on your stop size. The bigger the stop the smaller the trade size and vice versa for the same risk percentage.

Try the scripts. Remember 4digit 20 pips = 5 digit 200 pips.

Attached Files

	Buy with SL and TP w Confirm.mq4 (1.7 KB, 7 views)
	Sell with SL and TP w Confirm.mq4 (1.7 KB, 6 views)

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Here's what I use to calculate position sizes.

You can set three variables:

Risk: The percentage of equity you want to risk for the trade.

SL: Stop loss distance in pips away from the entry

Balance: If kept at zero, the equity amount used in calculations is the current account equity. However, I like to keep the dollar amount of risk constant for a day or so. So, I allow for a user defined equity input.

Attached Files

Lot Calc.mq4 (1.7 KB, 12 views)