I answered a lot of questions about lot sizing, how to calculate it for non usd pairs especially, so I decided to code that indicator which can help young traders to do this calculations without being confused.
There’s two fields to fill – “Risk” percentage and “StopLoss” in Pips. This indicator using four digits(old school) Pips so if you trade with five/three digits pairs this value will multiply StopLoss value by ten in the case 25.0 pips equals 250 points.
If StopLoss value equals zero or empty this calculator is switching to simple lot size calculation based on percent of your balance without SL using.
Let’s check the settings of lot calculator:
You can set pre define Risk percentage and Stop Loss parameters.
PRO TIP :
You can get a signal from a combination of indicators.
Follow the link to learn how to combine two or more signal alert indicators together http://projectreaper.pw/en/how-to-combine-two-or-more-signal-alert-indicators-together/
How to install :
1. Download file
2. Unzip archive and copy the MQL4 folder from the archive to your terminal Data folder
3. Restart terminal and apply the indicator to a chart
4. Register a valid email with single time donation or log in with previously registered email address.
5. You can switch your broker account any time you need by logging in with previously registered email address
How to find Data folder :
in the terminal click File menu – Open Data Folder