Position Size Calculator

[Enivid]

OK. The problem is pretty clear. When the stop-loss is between Ask and Bid, the PSC cannot determine whether you are going to buy or sell, so it does not update the entry line with Ask or Bid value (it does not know, which one to use), so you have four lines displayed: Ask, Bid, Entry, and SL.

 

[Andy]

Cool, thought it would be something along those lines.
So in this theoretical situation if I was to execute my PSC Script hot-key, would I simply receive an error and the trade attempt would fail?

In real-world everyday trading, and with a Stop-Loss set that close it would never be a major issue so it's fine.

Oh...and if there are any future updates to the PSC Script, would this be the forum thread where such updates are announced?
Meaning do the PSC Indicator and Script both share this particular forum thread?

 

[Enivid]

You would get an execution error as you cannot open a market order at the entry price that differs from Ask/Bid. You also cannot set the SL inside Ask/Bid range (STOP_LEVEL error).

I will update the indicator to display "Wrong SL" message when SL is between Ask/Bid and to move the entry line to the nearest level - Ask or Bid to prevent "fourth" line from appearing.

If I update the script I will post about it here. The script is useless without PSC, so it can be discussed here.

 

[Enivid]

I have addressed this issue in version 1.23.

 

[Andy]

Very nice.

Thank you good sir.

 

[Andy]

Hello again Enivid,

I had some thoughts earlier but I haven't had time to test it out.

It's regarding leverage, margin and the PSC.

How does it handle brokers that have a dynamic leverage structure?

Is the PSC intelligent enough to know pre-trade that if I go above a certain position size the leverage is then decreased and therefore the margin requirement is increased?

For example a certain broker I deal with decreases the maximum leverage available in stages as the position size increases. However, until that first dynamic stage is reached the leverage can be fixed to a discretionary amount right up to the absolute maximum or unless a particular market already has a lower leverage restriction placed upon it.

 

[Enivid]

No. It cannot do that. Unfortunately, there is no method to get the properties of the flexible leverage from within MQL code as of now. Perhaps, it will be implemented by MetaQuotes and then I will be able to add the relevant code to PSC.

 

[Andy]

I feared that may be the case.

Thank you for replying and explaining the situation nonetheless.

This is one of the reasons I stick to true FX pairs and market type. It will never really be an issue with them.

Metals and other CFDs on the other hand usually have much lower leverage available to them to start with and then their dynamic leverage kicks in way too soon.

But I do find high amounts of leverage to be a very powerful tool in the right hands.

 

[huangjin]

Good day Enivid, thank you for your great work,i had mod the PositionSizeCalculator a bit for my own use ,it auto show three line(entry stop lost take profit line) in the mid of the chart, to see if a pending entry is good enghon for you or not , just Drag the line to where you want it , and it work out the inform for you

 

[Enivid]

Interesting. Thanks for sharing, but why does your PositionSizeCalculator_Main peter mod -1.mq4 use #include "PositionSizeCalculator_Base.mqh" instead of #include "PositionSizeCalculator_Base peter mod -1.mqh"?

 

[Ryangel]

Hi Enivid. Thanks for the wonderful indicator. Quick question. How do I edit the SL line if it is not on the chart? I tried manually inputting in properties but it stayed as 1.55144 (seems like a default). Deleting and reattaching the indi did not work. Thanks!

 

[Enivid]

Set DeleteLines input parameter to true.

 

[Andy]

Hello Enivid,

I will now attempt to describe and explain some thoughts I've had recently regarding the PSC Indicator.

Firstly - Allowing the user to input their own leverage ratio. Or it can be left on automatic and it will use the current real broker leverage for that account. This would be awesome for testing purposes and would address the dynamic leverage situation if the user knows if and when they will be going above a certain position size. Also if they are thinking of increasing or decreasing their account leverage in the future they could use the indicator to easily test the new margin and money management requirements for the new leverage amount they are thinking of changing to. (As some brokers only allow 1 change to Leverage every 24 hours or more)

Secondly - An option to hide all corner text objects (But not the PSC price levels). Saves space and avoids the distraction of constantly fluctuating values. Also the PSC horizontal price levels will still be seen on the chart and I assume everybody knows how much (money or account %) they are risking at all times.

Thank you, hopefully I have given enough detail to properly communicate my ideas.

 

[Enivid]

Allowing the user to input their own leverage ratio.

How would it be used in the PSC? Position size does not depend on leverage. If you are talking about the margin calculator part, then it already does take into account the leverage.

Secondly - An option to hide all corner text objects (But not the PSC price levels).

The graphical panel for PSC is currently being developed. I will consider this suggestion to make things more compact for users. Thank you!

 

[Andy]

Yes that's right the margin calculator part.

For example by default the PSC would always display the margin requirement for my 1:500 leveraged real live account. But say I wanted to see how much more the margin would cost me in real-time if I moved down to 1:200 (or up to 1:1000), instead of creating a new demo account or logging into my brokers website and changing it (where I would then be locked from changing it back for another 24 hours at least) I could simply go into the PSC settings and change the leverage from my accounts actual 1:500 to 1:200 (or whatever ratio) while I test out the difference.

Or if my account had a universal 1:500 leverage but some markets (CHF, DKK, HKD, RUB & SGD) had a lower leverage of say 1:100 or even as low as 1:25, I could then override the accounts default 1:500 and input the correct leverage ratio manually within the PSC, thus giving me the correct margin calculation for each individual market.

Again, this manual leverage entry could be used for brokers that impose dynamic leverage systems, so that once a position goes over a certain size the leverage then decreases. If the user knows their position size will cause this to happen they can then set the new decreased leverage amount manually within the PSC so they now know what their margin requirement would be before they actually put the trade on.

And of course, if none of the above applies to the user then the leverage can be left on the universal account default and the PSC will function as normal.

(Great news about the graphical panel btw, can't wait to see it)

 

[speedytina]

Set DeleteLines input parameter to true.

Hello Enivid;
This by far this is the best trading tool I have ever come across. That includes indi's, scripts, and EA's! I now trade soooo much smarter thanks to this tool.

Could I ask for one more feature.

As I move the stop loss and take profit lines around, is it possible to show a label attached to each line that indicates in pips how far I am away from the entry line. The label should be large enough to read for someone like myself whose eyesight ain't what it used to be.
I tend to set my stop loss and take profits a fixed amount away from my entry, say 200 pips. Just dragging my SL and TP lines to a 200 pip level as shown by a label would make it so much easier. Hope I have made myself clear.

Thanks and regards

 

[Enivid]

Thanks for an idea. I will look if it can be done.

 

[Andy]

Speedytina!!!

If you look back in this thread I brought up something exactly like this but for the distance between just the entry and stop-loss points (I proposed it be called risk distance) and in the corner where the other information is displayed I mentioned that it displays the difference between the prices which then gives you the distance. So in the end I created a modified Fibonacci Retracement tool to mark where my typical entry point is (each market has it own distance depending on spread, volatility and average range of movement) and also my risk to reward multiples in both bullish and bearish directions

 

[speedytina]

Speedytina!!!

If you look back in this thread I brought up something exactly like this but for the distance between just the entry and stop-loss points (I proposed it be called risk distance) and in the corner where the other information is displayed I mentioned that it displays the difference between the prices which then gives you the distance. So in the end I created a modified Fibonacci Retracement tool to mark where my typical entry point is (each market has it own distance depending on spread, volatility and average range of movement) and also my risk to reward multiples in both bullish and bearish directions

Thanks Andy...great minds do think alike.
I found you previous post and Enivids reply to it. Here is a link to a chart mock-up that shows exactly what I'm suggesting.

https://www.mql5.com/en/charts/4242503/eurusd-h1-fxglobe-ltd

I like to use fair sized stop loses to stay out of spike trouble. As long as I stick to a 1 or 2 (or even .5) percent risk, then larger stop loses don't scare me.

To me the pip labels would make my life so much easier. I won't have to squint at the price grid; I won't have to constantly have to be drag the cross-hairs onto the chart to check distances; and most importantly my aging brain won't have do anymore mental gymnastics.

I really don't follow you fibo idea. Never use the thing. That's my fault not yours, ha!

Hopefully Enivid will come up with something. If not, its still the best tool I have ever found trade discipline.

Regards,
Ian

 

[Andy]

I like the line label method. I guess the issue would be their size and positioning on the chart to avoid them covering up the price action or any other key information. Maybe so they appear to the far right or far left of the chart?

But ultimately it goes down to whether wizard Enivid gives it the green light and is able to work his magic.

(Bump on the user leverage input too)