Forex Blog

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

Archives

New Position Size Calculator: SL and TP Which Follow Entry Line and Are Set in Pips

May 18, 2018 by

The newest version (2.14) the Position Size Calculator indicator, which is released today, introduces a new way to set stop-loss and take-profit for your potential trade setups. You can set the new input parameters UseFixedSLDistance and UseFixedTPDistance to true to turn this new mode on:

Input parameters to turn on fixed SL and TP distance

The example of what happens when both SL and TP are set to fixed distance is shown below:

Fixed SL and TP follow the entry line

The new version also fixes a minor bug that resulted in incorrectly calculated potential reward with some trading instruments.

If you are using the current latest version (1.05) of PSC-Trader script, there is no need to update it. It will work fine with the new Position Size Calculator.

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

If you have any suggestions or wish to report a bug for this MetaTrader indicator, please use the commentary form below.

2 Responses to “New Position Size Calculator: SL and TP Which Follow Entry Line and Are Set in Pips”

  1. Lasky Luciano Naseb

    Good day, I am trading volatility 75 index please help me which indicator can I use on the MT5 platform? I thank you and hope to hear from you soon.

    Reply

    Andriy Moraru Reply:

    Hello! Which indicator do you need? If you are asking about Position Size Calculator, it can work in MT5 and will probably calculate properly for the Volatility 75 Index.

    Reply

Leave a Reply

required
required (will not be published)