Position Size Calculator

[Enivid]

It could be just a temporary problem. Otherwise, I suggest you to add Sleep(3000); after the line 296 in PSC-Trader.mq5. It will make the script wait before trying to modify the position; meanwhile the position will most likely get opened already.

 

[Nathan.Küster]

See the image below. Did I do it right?

 

[Enivid]

Yeah, like that, but you forgot to add a semicolon at the end.

 

[Nathan.Küster]

Okay, I added the semicolon at the end. And I sent a new order, but the problem was not solved. The SL and TP values are still not entered by the script.

 

[Enivid]

Please try the attached version of the script and let me know how it works. I would appreciate the screenshot of the Experts tab when you trigger the script. Thanks!

 

[Nathan.Küster]

I removed the previous script. I added this new file that you attached to the message. I rebooted Metatrader. I opened the PSC, configured the SL and TP and executed the script and it still does not insert the SL and TP.

 

[EnrichWave]

Hello @Enivid How are you?. Hope doing excellent.
If PSC script taking order according to the text box of "Position size" then making the following update will be grateful

with Warm Regards and love

PS: Also kindly take look this request too
https://www.earnforex.com/forum/threads/position-size-calculator.9511/page-35#post-148550

I've lot's of ideas in this. but I don't know even basic programming.

 

[Enivid]

Do you mean that the script should take a smaller position if there is already an existing position or pending order in the same currency pair?

For example, if the calculated position size is 1 lot EUR/USD, and you already have 0.5 Buy open trade, the script would only buy 0.5 lot more?

What happens if the calculated size is 1 lot and you already have 1.1 lot? Should it close the order (1.1) and open a new one (1.0)?

Should it open a bigger position if there is an opposite trade? E.g. calculated size is 1 lot Buy, and you have 1 lot Sell. Should it open a 2 lots Buy?

 

[EnrichWave]

Do you mean that the script should take a smaller position if there is already an existing position or pending order in the same currency pair?

For example, if the calculated position size is 1 lot EUR/USD, and you already have 0.5 Buy open trade, the script would only buy 0.5 lot more?

Yes, Exactly.

What happens if the calculated size is 1 lot and you already have 1.1 lot? Should it close the order (1.1) and open a new one (1.0)?

No. if suppose the already taken lot size is greater than current risk then the "Position size" = 0 so the PSC will not take any orders

Should it open a bigger position if there is an opposite trade? E.g. calculated size is 1 lot Buy, and you have 1 lot Sell. Should it open a 2 lots Buy?

No dude, already you programmed excellently for that when we put the SL line it's automatically calculating whether it should take order buy,sell,pending buy, pending sell. so It should calculate the according to that

Kind Regards

 

[Enivid]

No dude, already you programmed excellently for that when we put the SL line it's automatically calculating whether it should take order buy,sell,pending buy, pending sell. so It should calculate the according to that

You misunderstood what I wrote. If the new checkbox is implemented, and you check it, and you already have 1 lot Sell position, but the PSC has calculated 1 lot Buy position, should the script open a 2 lots Buy position to compensate for that 1 lot Sell, so that the net total is 1 lot Buy?

 

[EnrichWave]

You misunderstood what I wrote. If the new checkbox is implemented, and you check it, and you already have 1 lot Sell position, but the PSC has calculated 1 lot Buy position, should the script open a 2 lots Buy position to compensate for that 1 lot Sell, so that the net total is 1 lot Buy?

you mean If suppose I changed my mind for the trend reverse?. No it should not buy 2 lots buy. it should open only 1 lot buy.

for this purpose I asked.
1st I took the order at the price 1.15884 with SL 1.17472 for 6% risk the lot took 0.21

after that I moved the SL line to 1.16334 so for the Risk for 6% it shows 1.01 lot.

but already I took 0.21 so It should show 0.80 ( subtract already opened lot size). for this purpose I was thinking about the Check box options

Kind Regards

 

[Enivid]

So to summarize it all, the new checkbox will only affect the new position size when the direction of the current trade. And if the current trade's size is already equal or greater than the calculated size, the new checkbox will make the script skip the trade. Right?

 

[EnrichWave]

So to summarize it all, the new checkbox will only affect the new position size when the direction of the current trade. And if the current trade's size is already equal or greater than the calculated size, the new checkbox will make the script skip the trade. Right?

Yeah, That's right.

PS: I don't know why I could not see the smiles. when i click on the smiles it just open a box at the bottom of the comment box but no smiles there

 

[Enivid]

Yeah, That's right.

OK, I'll see what I can do.

I could not see the smiles

Should be working now.

 

[EnrichWave]

OK, I'll see what I can do.

Thank you @Enivid

Should be working now.

Yeah

 

[Alexter]

Hi @Enivid
I was wondering if it was possible to configure or add a couple of things to the indicator.

In my workflow I tend to open 2 orders for the same trade (and have different TPs)

Could it be possible in the script tab to add a check or input so that one can select if they want their trade to be split in different orders? (eg. if i put 2 as input then a trade calculated to have a 1 lot size will be split into 2 0.5lot orders with the same Entry,SL and TP)

Another thing that I find useful is to have a way to change easily the "additional funds" amount as have to change between account with different amounts or currencies and its too slow to re-aply the indicator with the new account additional funds value. (I tried using different profiles but since the indicator saves the parameters they get carried over to the profile I i change it)

Also, a small improvement could be that the max lot size limits the trade lot size to that amount instead of reject orders that are larger than that number (so, instead of not opening an order if calculated lot size > max lot size, to simple if calculated lot size > max lot size then trade lot size = max lot size)

I hope that you find this suggestions useful and have time to work on them.


(also, have you solved the issue with the R:R and profit calculations in the release version, some time back I uploaded here a version that solved the calculations errors for the R:R and profit calculations)

 

[Enivid]

Could it be possible in the script tab to add a check or input so that one can select if they want their trade to be split in different orders? (eg. if i put 2 as input then a trade calculated to have a 1 lot size will be split into 2 0.5lot orders with the same Entry,SL and TP)

I will consider adding this feature.

Another thing that I find useful is to have a way to change easily the "additional funds" amount as have to change between account with different amounts or currencies and its too slow to re-aply the indicator with the new account additional funds value. (I tried using different profiles but since the indicator saves the parameters they get carried over to the profile I i change it)

I don't think it would be a good idea to add such a rarely used field to the panel. Did you try saving the Additional Funds value via chart templates?

Also, a small improvement could be that the max lot size limits the trade lot size to that amount instead of reject orders that are larger than that number (so, instead of not opening an order if calculated lot size > max lot size, to simple if calculated lot size > max lot size then trade lot size = max lot size)

It should already work like that. Could you please provide an example where it does not work?

(also, have you solved the issue with the R:R and profit calculations in the release version, some time back I uploaded here a version that solved the calculations errors for the R:R and profit calculations)

I have solved it, but I have not released a new version yet. I would like to finish working on other issues in PSC before uploading the next version.

 

[Alexter]

I will consider adding this feature.


I don't think it would be a good idea to add such a rarely used field to the panel. Did you try saving the Additional Funds value via chart templates?


It should already work like that. Could you please provide an example where it does not work?


I have solved it, but I have not released a new version yet. I would like to finish working on other issues in PSC before uploading the next version.

I just said this because of what it says in the documentation.
"Max position size — the script will not trade if calculated position size exceeds this value (in lots)."

I have solved it, but I have not released a new version yet. I would like to finish working on other issues in PSC before uploading the next version.

Ok, i was just asking to see if you needed help or you had already integrated it to the version you are working on.


Lastly, do you have a way in which i can donate to this project. It has been of great use in my trading and would like to give back some appreciation.

 

[Enivid]

"Max position size — the script will not trade if calculated position size exceeds this value (in lots)."

Oh, that parameter... Its aim is to prevent script from opening too large positions. I believe that in some cases, traders wouldn't want it to open a position at all if the calculates PS exceeds the maximum PS as it may signal that something has been set up wrong in their trade. Though I understand the usefulness of opening the maximum position size trade instead of just skipping it.

Lastly, do you have a way in which i can donate to this project. It has been of great use in my trading and would like to give back some appreciation.

The best way to express your appreciation of the tools we provide is to tell your friends about it.

 

[Alexter]

Though I understand the usefulness of opening the maximum position size trade instead of just skipping it.

I was using it in a test account with really strict parameters that only allowed a certain amount of lots opened, so even if I was using my standard risk% the lot size sometimes went over the lot limit and I had to manually adjust till the lot size was the limit. That is why I thought of that. I actually have never had a situation in which an error made the lot size to large, but it makes sense as a protective measure for those cases.

The best way to express your appreciation of the tools we provide is to tell your friends about it.

I have to say thanks for the great tools you have here and I am definitely sharing the site and tolls with my friends. (in fact I am presenting tomorrow at a traders meetup and your tools are an example i will use)

Thanks for all the things you do in this community.