Forex Blog

First-hand Forex trading experience and information about foreign exchange market that will be useful to traders


Divide Your Position into Multiple Trades with Several Take-Profit Levels with New Position Size Calculator

May 29, 2020 by

Another major release of Position Size Calculator is out today — version 2.29. Its biggest highlight is the possibility to create multiple trades based on a single calculated position size by launching the PSC-Trader script (which also got updated to version 1.08). The list of changes is available below:

  • Divide your calculated position into any number of trades — each with its own take-profit level. You can use this function to scale out of your trade at different profit levels. Here is a screenshot of 5 take-profit levels set for a single calculated position size:
  • Divide your calculated position into any number of trades - each with its own take-profit level.

  • All panel settings can be configured via a group of “default” input parameters — this allows for saving more of the panel’s options to settings files (.set) and also to create fine-tuned chart templates.
  • Chart objects for Entry, SL, and TP lines are now selected by default — this allows for quicker moving of them around, but it also means that you shouldn’t accidentally press Del on your keyboard while the chart is active or they will get deleted.
  • Quick switching between long and short trades is now possible with the button near the Entry level:
  • PSC - switching between long and short trade with a button

  • The indicator will now conduct a little bit less of unnecessary calculations as the OnTimer() event handler will now be checking whether enough time has passed since the last calculation.
  • Position size and pip value calculations have become somewhat more accurate as the indicator now discerns between the pip value of profit vs. pip value of loss (they are often different) where possible.

The complete list of changes is available in the changelog.

If you prefer not to use MetaTrader, you can opt for the web version of the position size calculator. Despite differing significantly from the MetaTrader version, it will let you calculate position size easily.

If you have any suggestions or wish to report a bug in this MetaTrader indicator, please use our official Github repository or the commentary form below.

4 Responses to “Divide Your Position into Multiple Trades with Several Take-Profit Levels with New Position Size Calculator”

  1. Steve

    Hi Andriy, I am trying to get to place 2 trades one at 1:1 and one at 2:1. I have 2 take profit options with a 50% each of the 2% Risk – so I am assuming it will place 2 trades of 1% Risk each. However, it only place one trade every time. Am I doing something wrong?


    Andriy Moraru Reply:

    Do you set multiple TP values and share values on the Script tab? What is the output in the Experts tab when you execute PSC-Trader script?


    Ivan Georgiev Reply:

    Hi there, have the same issue but I am having 3 splits of 33% each. The output in the Experts tab is :
    Script PSC – Trader EURUSD_ecn, M1: removed
    PSC – Trader EURUSD_ecn, M1: uninit reason 0


    Andriy Moraru Reply:

    If there is no other output in the Experts tab, then I suggest reinstalling PSC-Trader (and probably even your MetaTrader platform) as there is no scenario under which the script shouldn’t be outputting at least some message – it should either be an alert about some problem or a message about a detected position size.


Leave a Reply

required (will not be published)