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PSC Update — Stop-Limit Orders and Script Confirmation Window

November 18, 2020 by

With no updates in almost 6 months, it is time to announce the latest version of Position Size Calculator — 2.32. It includes 24 changes to this MetaTrader indicator. The most exciting upgrades are listed below for your information:

  • Stop-limit orders are now supported in MetaTrader 5 version of the calculator. Click on the Order type button until it shows ‘Stop Limit’ and the stop price line (purple by default) appears on the chart. A stop-limit order placed by that setup (via PSC-Trader script) will work like this: when the price reaches the stop price level, the order becomes a limit order with an entry at the normal entry line position.

An example of stop-limit order calculated by Position Size Calculator

  • PSC-Trader will now ask for confirmation if you tick the Ask for confirmation checkbox on the Script tab of the calculator:

An example of order confirmation dialog for PSC-Trader script

  • A second click on the TP button now switches it into a tracking state, so that the TP is following the changing distance between the entry and the SL. Here is a demonstration of how this works:

Take-profit tracks the stop-loss distance

  • ATR timeframe switching button now has a Current state:

Current timeframe selection for ATR in PSC

  • Switching ShowAdditionalTPLabel input to true turns on a second take-profit line label — it displays reward in percentage and money terms:

Additional TP line label in PSC

  • Quick risk-setting buttons (configurable via QuickRisk1 and QuickRisk2 input parameters) to conveniently switch between predetermined levels of risk per trade:

Using quick risk buttons in PSC

  • Filling in multiple TP fields for the script is now easier than ever — you have two quick buttons to either fill all TPs uniformly inside the main Entry-TP distance or outside. Here is how works:

Filling in multiple TP levels for PSC-Trader script using quick buttons

Warning! This update introduces ObjectPrefix input parameter — it helps the indicator to discern its own chart objects from similarly named chart objects created by trader or by some other indicator. On the flip side, when updating PSC to version 2.32, it is possible that old chart objects (without the prefix) will remain on your charts and inside your templates — you will have to clean them manually.

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 our official Github repository or the commentary form below.

3 Responses to “PSC Update — Stop-Limit Orders and Script Confirmation Window”

  1. Sam

    just wanted to thank you. wish everybody know this script. great work!

    Reply

    Sam Reply:

    are you plan to add “stop limit” feature to MT4 as well?

    Reply

    Andriy Moraru Reply:

    Unfortunately, MT4 platform itself doesn’t support stop-limit orders.

    Reply

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