More than four years have passed since I have introduced my online position size calculator for EarnForex.com visitors. Since then it became very popular. A poll shows that about ¼ of this blog’s readers frequently use online Forex calculators, while Google Analytics shows that the current position size calculator form is the 4th most popular destination on EarnForex.com.
OK, enough with the introduction. Today, I would like to present the position size calculator for MetaTrader — an automated tool that can be added to any MT4 or MT5 chart and be used
Some features of this MetaTrader tool:
- Use either account balance or account equity to calculate position size.
- Change entry/
stop-losspoints simply by dragging the lines on chart.
- Does not consume much CPU resources.
- Automatic reference pair detection rate fetching (may be buggy, especially for
- Great potential for customization and enhancements.
Updated: 2013-06-08: Added optional input parameter for
Updated: 2013-11-11: Added optional input parameter for the indicator to track entry level using current Ask/Bid rate (depending on
Updated: 2014-04-11: Reporting some new changes as per discussion in dedicated forum thread. I added more color and style customization options, reordered the output parameters and added potential profit (Reward) output in case
If you find any bugs in this MetaTrader indicator or if you have some feature suggestions, please post them using the commentary form below.