Position Size Calculator

[Armagedoom]

Problem and suggestion

Hello!
First of all thank you for this great indicator, saves me a lot of time and I love it.
Im writting for two things:

- First of all I would like to suggest for it to automatically get the price of the window on which its dropped and automatically place the lines closely around the price in which it was dropped or around the actual price, so we can edit manually directly instead of writing the actual price we want to begin with. I tried to do this myself but cant, since I get initialization error when i try to change the extern variables to Pricewindowondropped()

- Second, I also wanted to tell you that its not working for me in certain pairs, and the details are:
* It only works for me in the pairs which have the account currency on second place ie: it will work in EUR/USD, CHF/USD, any pair ending in USD, but not in the rest ie USD/CAD USD/JPY or EUR/CHF etc
*When its in a non working pair, the words "Pos. Size: ..." will turn into "Label" in grey color
* I tried editing it, and discovered that on the not working pairs, if I set an alert before and after this line, the before alert will work, but not the after line, so somethings suggest me it stops working there:
if ((ReferenceType != -1) && (AccountCurrency() != QuoteCurrency)) return(0);
* I also tried disabling that line, but then the red label will appear correctly but the calculations of the lot size wont be valid (a really high number instead of the correct lot size)

I would be really interested in being able to use this tool, looking forward to your response, if I can be of any help I will be checking the post often, thank you!!

 

[Enivid]

- First of all I would like to suggest for it to automatically get the price of the window on which its dropped and automatically place the lines closely around the price in which it was dropped or around the actual price, so we can edit manually directly instead of writing the actual price we want to begin with. I tried to do this myself but cant, since I get initialization error when i try to change the extern variables to Pricewindowondropped()

I think it's doable. I'll post here when it is done. Thanks for suggestion.

- Second, I also wanted to tell you that its not working for me in certain pairs, and the details are:
* It only works for me in the pairs which have the account currency on second place ie: it will work in EUR/USD, CHF/USD, any pair ending in USD, but not in the rest ie USD/CAD USD/JPY or EUR/CHF etc
*When its in a non working pair, the words "Pos. Size: ..." will turn into "Label" in grey color
* I tried editing it, and discovered that on the not working pairs, if I set an alert before and after this line, the before alert will work, but not the after line, so somethings suggest me it stops working there:
if ((ReferenceType != -1) && (AccountCurrency() != QuoteCurrency)) return(0);
* I also tried disabling that line, but then the red label will appear correctly but the calculations of the lot size wont be valid (a really high number instead of the correct lot size)

What is exact name of the currency pair (as it appears in Market Watch window) which it is not working on? Any output in the Experts tab or any alerts? I assume your account currency is US dollar, right?

 

[Armagedoom]

Hi, sorry for the late reply, about the coments:

Im glad you are going to implement that change, really happy with that functionality, thanks a lot!

Second, I just tested again for extra confirmation, and still happens, same as described, and the pairs are alpari ones, they appear in market watch as follows:

USDCAD
AUDJPY
etc

And no output at all (neither in experts, nor alerts), just the grey text "Label" where the actual red lot size should be, and nothing else.
Please let me know if I can be of any help, I really value the practicity of your indicator and the work it saves. Should I install and check another MT4 client?

Thanks again!

 

[Enivid]

Im glad you are going to implement that change, really happy with that functionality, thanks a lot!

It is now ready - please redownload the indicator.

Second, I just tested again for extra confirmation, and still happens, same as described, and the pairs are alpari ones, they appear in market watch as follows:

USDCAD
AUDJPY
etc

And no output at all (neither in experts, nor alerts), just the grey text "Label" where the actual red lot size should be, and nothing else.
Please let me know if I can be of any help, I really value the practicity of your indicator and the work it saves. Should I install and check another MT4 client?

This is very strange because I too use Alpari and it is working fine on USDCAD and AUDJPY. Could you please post a screenshot of Experts tab right after you attach the indicator?

 

[Armagedoom]

I just updated to the new version and it works (everything, in every pair)
Its just such a practical and convenient indicator!!
Thank you again!

 

[Stevefx]

Hi,
I'm so happy to have found this wonderful tool and I am very grateful. I just have a few
queries regarding how you use it. I managed to load indicator on each chart without any
problems but I have noticed that the buy/sell and stoploss lines always go back to the
same level they were when I first loaded them, Is this normal? Also is there any way to adjust the risk componant easily without deleting all indicators and starting over again. Many Thanks

 

[Enivid]

I managed to load indicator on each chart without any
problems but I have noticed that the buy/sell and stoploss lines always go back to the
same level they were when I first loaded them, Is this normal?

When you restart the platform? Yes, it is normal.

Also is there any way to adjust the risk componant easily without deleting all indicators and starting over again. Many Thanks

You can call up the indicator list by pressing Ctrl+i and then modify the indicator's properties. Alternatively, you can right-click the chart and select "Indicators list".

 

[glc3344]

Hello!
- First of all I would like to suggest for it to automatically get the price of the window on which its dropped and automatically place the lines closely around the price in which it was dropped or around the actual price, so we can edit manually directly instead of writing the actual price we want to begin with. I tried to do this myself but cant, since I get initialization error when i try to change the extern variables to Pricewindowondropped()

I downloaded the indicator, but it doesn't seem to have this functionality which would make this indicator a 10/10 - its a pain to manually have to enter price and stop level.

Am i missing something because it seems that this feature was added?

 

[Enivid]

I downloaded the indicator, but it doesn't seem to have this functionality which would make this indicator a 10/10 - its a pain to manually have to enter price and stop level.

Am i missing something because it seems that this feature was added?

Yes, this feature was added. Now you can skip entering entry and stop level prices and then just drag the lines to the desired levels.

 

[rodolsen]

Installing Position Size Calculator

Hi,
I have just downloaded this indicator and copied to the indicators directory of my IBFX MT4 platform. I have compiled it with no errors. When I go to select it from Insert --> Indicators --> Custom it does not appear in the list. Has anybody had the same problem or know how I can fix it? TIA

 

[Enivid]

If you are installing it on Vista (or something newer), you should install it here:
C:\Users\<Your Username>\AppData\Local\VirtualStore\Program Files (x86)\<Your MT4 Platform>\experts\indicators

 

[miscon]

First Time Post.

Hello,

I must say, I LOVE this site. Earn Forex is a great resource. The knowledge on the site and here on this forum is priceless.

About a month ago, I came across the Position Size Calculator. It is a great tool for risk and money management, however I am experiencing some problems with the calculator.

I trade 7 currency pairs:
USDCHF
EURUSD
USDCAD
GBPCHF
EURCHF
EURGBP
GBPUSD


The calculations appear to be working, but the calculator shows the wrong currency pair and ask price on some currencies and has no display for other currencies.

For example,
The GBPCHF chart shows USDCHF and the ask price for USDCHF on the GBPCHF chart.

EURCHF chart also shows USDCHF and the ask price for USDCHF.

EURGBP chart shows GBPUSD and the ask price for GBPUSD.

Both GBPUSD and EURUSD have a blank line and show no currency pair or ask price.

USDCAD and USDCHF are both working perfectly.

I downloaded a new copy of the calculator and installed it on top of the existing file, but it did not fix the problem.

Is there anything that I can do to make the calculator display the currency pair and ask price to match the chart that it is loaded on?

Thanks,

 

[Enivid]

miscon, that is completely normal behavior of the indicator . All calculations are correct. It shows reference currency pair and its price on the chart. Reference pair is used to convert the profit from your traded currency pair to your account currency, hence it displays USD/CHF if your account is in USD and you are trading something XXX/CHF.

 

[miscon]

Oh Ok, I understand.

Thank you for your support!

Good trading!

 

[Stevefx]

Hi Enivid, Thanks for anwsering my earlier questions (as stupid as they were). I am extremely pleased with this indicator, as it has taken much of the stress out of my trading. To be honest I would have been more than happy to pay for it - so many thanks! Can you tell me if this indicator works on CFD charts like the US500, USTEC, US30 etc. If not could I use a programer to make changes so that it would work?
Many Thanks Steve.

 

[Enivid]

It has some potential to work on CFDs, but I don't know whether it will work on a particular symbol. You can try and see for yourself.

 

[wzvhyz]

Position Size Calculator doesn't appear in Chart

I am brand new to MetaTrader.

I successfully installed your PositionSizeCalculator.mq5 script to MT5. It is saved to the Navigator under Custom Indicators. They were no errors during the compilation.

When I drag and drop the indicator to a chart a new window is created in the chart, but it is blank. There is no data.

 

[Enivid]

Do you get any output in the Experts tab of your terminal when you attach it?

 

[wzvhyz]

I don't think there is any output.

Later in the day I installed the indicator to a laptop and it is working.

I deleted the indicator download and where the mq5 file is saved in the MT5 program and on the MT5 Navigator and tried downloading and installing again.

Now the indicator does not appear in the MT5 Navigator.

 

[wzvhyz]

Okay...

I'm not sure what I did correctly, but now the Indicator is working.

The only thing I think i did different was to open the "Source File" and "Program File" located in the MT5 Program file folder.