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PSC Now Supports ATR SL/TP and Reverse Risk Calculation

February 27, 2019 by

Apart from some bugfixes, the version 2.18 of Position Size Calculator contains three new features:

  • ATR-based stop-loss and take-profit are now a thing. If you prefer to set your SL/TP by the multiples of the Average True Range indicator, you can now do so automatically with Position Size Calculator:

    PSC - ATR settings

    You need to set ShowATROptions input parameter to true for this to work.

  • Position Size Calculator can now calculate risk values (both percentage and money) based on the position size you give it. This can be handy when you try to experiment with different position sizes:

    PSC - Reverse risk calculation based on position size

  • Risk tab has been updated to show potential profit calculation and also the number of total open lots — currently and including the calculated position:

    PSC - Reward and lots data on the Risk tab

The most notable bugfix is for the error when a stop-loss, take-profit, or entry line could be moved to an invalid level due to the trading instrument’s tick size restrictions. Now the lines will stick to the nearest multiple of tick size upon release:

PSC - Tick size magnet

A 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 the commentary form below.

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