Position Size Calculator – Based on VP Money Management rules – indicator MetaTrader 4
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Version 2.0 Uploaded – Version 1.xx users please update risk %
This indicator is based on the Money Management approach used by VP from nononsenseforex.com It uses ATR to calculate Stop Loss, Take Profit and Volume you should enter into a trade based on the percentage of your Equity you want to risk.
Inputs Include :-
ATR Periods
Input Risk % eg enter the % *changed for Version 2
Stop Loss Factor – calculate Stop Loss as 1.5 times the ATR from the current price
Take Profit – calculate a Take Profit as a factor of ATR based on current price
Font size and color
Fixed ATR – leave it at 0 unless you want to lock the ATR value eg during a flash crash
What is Displayed :-
ATR(14):80pips – The ATR for the current Period in pips rather than points
If you see “FIXED ATR” you have entered a value under input to override the ATR. Enter 0 as Fixed ATR to use a calculated ATR
Equity:50,30.65GBP – Your current Equity and Account Currency
Risk 1.0%:502GBP – The calculated Risk in your currency and counter currency
Time Left:01:55:33 – How long before the current period closes
Depending on if you will Buy or Sell the Stop Loss and Take Profit
Buy SL:0.72654
Buy TP:0.72814
Sell SL:0.72997
Sell TP:0.72129
Base Corner 0 to 3 – Allow you to move Pos Size to a different corner of the screen
0= Upper Left, 1=Upper Right, 2=Lower Left,3= Lower Right
Volume:1.19 – This is the Lot size or “Volume” in the MT4 Order window
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