Position Size Calculator - Based on VP Money Management rules - indicator for MetaTrader 4




Position Size Calculator - Based on VP Money Management rules - indicator for MetaTrader 4


Version 2.0 Uploaded - Version 1.xx users please update risk %

Example screen


This indicator is based on the Money Management approach used by VP from nononsenseforex.com It uses ATR to calculate Stop Loss, Take Profit and Volume you should enter into a trade based on the percentage of your Equity you want to risk.


Inputs Include :-

  • ATR Periods
  • Input Risk % eg enter the % *changed for Version 2
  • Stop Loss Factor - calculate Stop Loss as 1.5 times the ATR from the current price
  • Take Profit - calculate a Take Profit as a factor of ATR based on current price
  • Font size and color
  • Fixed ATR - leave it at 0 unless you want to lock the ATR value eg during a flash crash

What is Displayed :-

  • ATR(14):80pips - The ATR for the current Period in pips rather than points
    • If you see "FIXED ATR" you have entered a value under input to override the ATR. Enter 0 as Fixed ATR to use a calculated ATR
  • Equity:50,30.65GBP - Your current Equity and Account Currency
  • Risk 1.0%:502GBP - The calculated Risk in your currency and counter currency
  • Time Left:01:55:33 - How long before the current period closes
  • Depending on if you will Buy or Sell the Stop Loss and Take Profit 
    • Buy SL:0.72654
    • Buy TP:0.72814
    • Sell SL:0.72997
    • Sell TP:0.72129
  • Base Corner 0 to 3 - Allow you to move Pos Size to a different corner of the screen 
    • 0= Upper Left, 1=Upper Right, 2=Lower Left,3= Lower Right
  • Volume:1.19 - This is the Lot size or "Volume" in the MT4 Order window

**V2.00 UPGRADE NOTES**

Firstly thank you to my fellow VP cousin for sending me the cleaned up display.

Important  - You will need to reset the Risk size % eg for 2% enter 2.0 not 0.02

Please feel free to add comments, and send me any bug you spot or suggested updates.

Hope it helps!


Change Log :-

29th Dec 2018 - V1.01 fixes bug with Account Currency not being loaded when MT4 is reloaded or charts already loaded

2nd Jan 2019 -V1.02 The actual fix to the bug (Thanks Warren.)

17 Jan 2019 V2.00 Cleaned up output in particular on JPY pairs, Ability to change the corner of the screen and Fixed ATR





Download Position Size Calculator - Based on VP Money Management rules - indicator for MetaTrader 4




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