I will consider adding it as an option. Thanks!
I would gladly do it, but unfortunately, neither MT4 nor MT5 allows coding that without resorting to DLL calls.
Position Size Calculator
- Thread starter Enivid
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Hello,
Latelely i've noticed that when i used the PSC, after this the horizontal line in MT4 copys the green color from the SL horizontal line of the PSC.
I can't recall this was before. Is this a possible bug?
Latelely i've noticed that when i used the PSC, after this the horizontal line in MT4 copys the green color from the SL horizontal line of the PSC.
I can't recall this was before. Is this a possible bug?
Does not look like a bug. MT4 uses the latest used object color to draw the next object of such kind by default.
Hi,
first post on this forum, just installed the MT5 indicator
One question about spread (i tried to search the thread, but i didn't recognize any answer)
Is spread taken into account when calculation the position sizing?
I tried to play around with the MT5 indicator, to figure it out. I still don't get it.
I figured i can ask here too.
For example, EURUSD, spread let's say 2 pips,
do i have to place SL a little further?, to accommodate for spread?
I'm quite confused here.
And, if I have to take spread into consideration,
it's the same for buy and sell?
Or is there a difference?
Thank you a lot, in advance, for any clarification.
I will post the answer if i find it elsewhere.
first post on this forum, just installed the MT5 indicator
One question about spread (i tried to search the thread, but i didn't recognize any answer)
Is spread taken into account when calculation the position sizing?
I tried to play around with the MT5 indicator, to figure it out. I still don't get it.
I figured i can ask here too.
For example, EURUSD, spread let's say 2 pips,
do i have to place SL a little further?, to accommodate for spread?
I'm quite confused here.
And, if I have to take spread into consideration,
it's the same for buy and sell?
Or is there a difference?
Thank you a lot, in advance, for any clarification.
I will post the answer if i find it elsewhere.
Hello, Michael!
Thanks for your question! No, spread is not taken into account in the Position Size Calculator, but it does not have to be taken into account when calculating position size based on your stop-loss. Spread only affects the initial floating loss your positions are opened with.
The only theoretical case when you would have to take the spread size into account is if your stop-loss was tighter than the spread, which wouldn't practically be allowed by your broker.
Thanks for your question! No, spread is not taken into account in the Position Size Calculator, but it does not have to be taken into account when calculating position size based on your stop-loss. Spread only affects the initial floating loss your positions are opened with.
The only theoretical case when you would have to take the spread size into account is if your stop-loss was tighter than the spread, which wouldn't practically be allowed by your broker.
Hm
Interesting answer.
Clearly demonstrates my ignorance about this area of details.
But,
Im thinking.
From what you say, this would mean broker closes the position exactly at the SL price?
Or, other way to say it.
Does this mean that whatever position we open, buy or sell, broker takes the commision at position opening always?
I had the impression broker take comission differently depending on position type, buy or sell.
I will have to test slowly with some slow market with wider spread, to clarify this bit.
Slippage may prevent a position to be closed exactly at SL, but it is impossible to predict whether there will be slippage or not and what will be the size of it if there is slippage.
Most probably, your broker does not take commission at all. What you think of as commission is the Bid/Ask spread - you buy at Ask and sell at Bid - that's why your new trades always start in red.
Most probably, your broker does not take commission at all. What you think of as commission is the Bid/Ask spread - you buy at Ask and sell at Bid - that's why your new trades always start in red.
Sorry for using the term comission.
I was referring to spread difference, broker's fee.
Comission of ECN brokers is something else.
Well, it makes more sense now
I still have to test carefully, but thank you for clarification.
I was referring to spread difference, broker's fee.
Comission of ECN brokers is something else.
Well, it makes more sense now
I still have to test carefully, but thank you for clarification.
Position Size Calculator has been updated to version 2.07. Among other things, it adds features suggested by the forum users @eyekoms and @caele, and fixes a bug reported by user @Thobani.
Thank you for the mention @Enivid you are a legend. Again a big apology for slowpoke tendancies. I've been occupied with research on good trading strategies. A big appreciation on the new PSC version release.
I am new here and using the forex Position Size Calculator. Verry nice indicator, great job! It works fine for me but I can't explain the following issues:
It looks like display status and display-position are not stored. After reopening the chart (or profile) always:
- The display has been maximized (although it was minimized when closing the chart/-profile);
- The display has been placed in the upper left corner behind the “One click trading panel” although it was elsewhere;
- Hidden lines are visible again.
When I want to use the PSC-Trader indicator on my chart I got the following error messages:
- “Custom indicator PSC-Trader EURJPY,Daily: loaded successfully”;
- “Expert ‘PSC-Trader’ is not custom indicator and will be removed”;
- “Custom indicator PSC-Trader EURJPY,Daily:removed”.
System specifications: Windows 10 PRO, Metatrader MT4 version 4.0 Build 1090 (May 2017). My broker is Axitrader (www.axitrader.com). I am a price-action trader, no other indicators on my charts. I use for each currency one single profile with four different timeframes of the currency and a RenKo chart on it.
When you close the chart, the indicator settings file associated with that chart is deleted.
PSC-Trader is not an indicator, it is a script and should be moved to /MQL4/Scripts/ folder and launched as a script from there.
Thank you verry much for the quick reply. Would it be possible to "keep the indicator settings" when closing the charts/-profiles? When you have 4 or 6 charts on screen in a profile, the indicator panel covers almost completely one chart (when opening the profile) so you can't quickly observe this one. Perhaps you can make a switches in the indicator settings for this, then it's the users choice. Would be great!
No, sorry. That is not possible because the chart settings are stored according to the unique chart id, which is lost whenever the chart is closed.
Hello Enivid;
Is it possible for this indicator to also display the "pip value" for the actual position size traded as shown in the MAIN tab? I have been looking for a "pip value" indicator that automatically calculates pip values based on position sizes. The only pip value indicators I can find require manual input of position sizes. Maybe it's not possible for it to show automatically. Just curious if it can be done.
Thanks
Is it possible for this indicator to also display the "pip value" for the actual position size traded as shown in the MAIN tab? I have been looking for a "pip value" indicator that automatically calculates pip values based on position sizes. The only pip value indicators I can find require manual input of position sizes. Maybe it's not possible for it to show automatically. Just curious if it can be done.
Thanks
Hello Enivid,
thats a pitty. There are two reasons why a "clean screen = minimized indicator panel + lines hidden" at opening of a chart would be great. First: mostly this panel is used at the start of a trade for calculation purposes and afterwards most traders hidden it to become a better bright view of the trade. Second: for traders like me who simply don't have enough space for the full size panel, I perform this "clean sceen" manual at the moment. To achive this it would be great to extend the indicator inputs section with a "panel control" section:
- "panel mimized" at chart opening?
- "lines hidden" at chart opening?
- (option) to choose the location of the minimized panel in one out of four screen corners
Kind regards Gehan
Yes, it is definitely possible. Now I have to come up with the way to prevent these settings from conflicting with the ones saved when the chart isn't closed and from traders getting confused with all this.
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