It is probably a bug, but I need to know what broker and account type that is to check it. Thanks!
Position Size Calculator
- Thread starter Enivid
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Happy new year to you all!
I just landed in the forum because I want to suggest a new function for the future releases of the PSC.
It's known that a good way to calculate the right stop loss position is the ATR value, or a multiple of this value; it would be great to have something like an "ATR" tab, or an "ATR" area in the main window, where you can flag if you want to use an ATR Based stop loss.
In my mind, I imagine a flag "use ATR base stop loss", and 2 parameters: ATR period (for those which don't like the standard 14) and ATR multiplier (to set, for example, a 2*ATR stop loss distance).
If other traders agree with me, I hope you can consider to add this function in the future.
Thanks!
Daniele
I just landed in the forum because I want to suggest a new function for the future releases of the PSC.
It's known that a good way to calculate the right stop loss position is the ATR value, or a multiple of this value; it would be great to have something like an "ATR" tab, or an "ATR" area in the main window, where you can flag if you want to use an ATR Based stop loss.
In my mind, I imagine a flag "use ATR base stop loss", and 2 parameters: ATR period (for those which don't like the standard 14) and ATR multiplier (to set, for example, a 2*ATR stop loss distance).
If other traders agree with me, I hope you can consider to add this function in the future.
Thanks!
Daniele
Hello, when I install the position size calculator indicator, it freezes my entire MT4 platform. I can't press a single button anywhere. Everything frozen. I have to force shutdown the entire MT4 and then delete the indicator from the program files just to get my MT4 working again. I am using FX Choice MT4 connected to my Oanda demo account.
What is causing this? I compiled the indicator and it returned no errors.
My FX Choice MT4 is running Wineskin since it's being used on a Mac. However, I've installed hundreds of indicators and scripts and have never had an issue.
I'm really excited about this indicator. Can you please help?
Thank you!
What is causing this? I compiled the indicator and it returned no errors.
My FX Choice MT4 is running Wineskin since it's being used on a Mac. However, I've installed hundreds of indicators and scripts and have never had an issue.
I'm really excited about this indicator. Can you please help?
Thank you!
Which Oanda demo server are you using? Which currency pair and timeframe chart are you trying to attach it to?
Hello Enivid,
Thank you for your reply!
I am using Oanda-v20-Practice-1 - Demo Account.
I have tried attaching it to GBP/AUD 1 minute time frame.
I also tried attaching it to EUR/USD 15 minute chart.
I actually don’t really need the calculator. I mainly just wanted a script that places orders based on predefined $ risk amount. So I was looking forward to using the PSC-Trader script but I don’t believe the script will work without the calculator. Thank you for your help!
Hi Enivid,
First of all thanks for the great work again.
The tool has been of great value for me over the past year.
I see that you added the correction of the Risk/Reward calculation to account for the commission properly.
I have one request to make.
As I have been going into more professional trading I have found restrictions on my max lot size (eg. need to keep a max exposure or lot size to follow a prop firm rules)
For this it reason and for simply having awareness of our current open lots it would be great if in one of the tabs or in a section of the main calculator there could be a display of our currently open lot size (similar to what we have already with the portfolio risk % but also with the aggregate lots open)
I think this could be a great addition that could be either placed alongside the main screen data (as that would help keep awareness when placing trades) or in the Risk tab (if its in the risk tab then the same existing checkboxes could be used to modify the calculation method for the Current exposure in lots for the portfolio and could even be added to the current layout as an extra column of the table with the Lots)
I leave you a quick mockup of how I imagine it could be implemented for you to consider it.
I personally prefer the idea of placing it in the Risk tab for cleanness and organization (as I think it looks better and fits better with the information type)
Thanks again for all the great work and value you provide to the trading community.
I hope you can consider this feature and add it in a future version.
First of all thanks for the great work again.
The tool has been of great value for me over the past year.
I see that you added the correction of the Risk/Reward calculation to account for the commission properly.
I have one request to make.
As I have been going into more professional trading I have found restrictions on my max lot size (eg. need to keep a max exposure or lot size to follow a prop firm rules)
For this it reason and for simply having awareness of our current open lots it would be great if in one of the tabs or in a section of the main calculator there could be a display of our currently open lot size (similar to what we have already with the portfolio risk % but also with the aggregate lots open)
I think this could be a great addition that could be either placed alongside the main screen data (as that would help keep awareness when placing trades) or in the Risk tab (if its in the risk tab then the same existing checkboxes could be used to modify the calculation method for the Current exposure in lots for the portfolio and could even be added to the current layout as an extra column of the table with the Lots)
I leave you a quick mockup of how I imagine it could be implemented for you to consider it.
I personally prefer the idea of placing it in the Risk tab for cleanness and organization (as I think it looks better and fits better with the information type)
Thanks again for all the great work and value you provide to the trading community.
I hope you can consider this feature and add it in a future version.
I have just tried loading it on Oanda demo account via FXChoice MT4 and it worked fine. It looks like it is an issue with Wineskin/Mac. Have you been able to use some other indicator or EA that uses a panel layout with your system? Unfortunately, I cannot test it on Mac. If you know some basics of MQL4 coding, you could place some breaks inside the code to try to locate the piece that is causing the MT4 to hang. Then I could try doing something about it.
There is no option for reverse calculation - from position size to risk amount - but I will consider adding this into the next release.@Enivid is there option to edit the lot size too. so I can see how much %(equity too) going to loose if it hit SL for that much lots(If I change the lot size it should be static. until I modify in Risk % or risk USD.)
Since I still cannot install their platform to test this bug, could you please check with the attached version, setting UseCFDMultiplier to true? Please let me know how that works with your problem.
Attachments
I don't know how you got trust on this broker. the brokers MT4 is not dfrom Metaquotes Sever. It's not licensed too. I checked with their name. I think they are using cracked MT4 platform. One day they will say bye bye to you.
Are they using another name MaxRichGroup.?
and If you can share the Server IP address of the platform demo @Enivid may use that and can verify is there bug or it's Brokerage fault.
Open Your MT4. Click on File --> Open Data Folder
Then navigate to Config folder. there will be file with .srv extension open that with Notepad there will be some IP address like the following or some web address will be.
You just share the IP address it'll be useful to create and Demo account and test.
instead of that. the simplest thing you just create an Demo account and PM to @Enivid So he can check whether it's bug or the Broker having problem.
Kind Regards
PS: Check the MT4 Version Build. The latest MT4 Build is 1170 (20 Dec 2018)
Last edited:
Hi @Enivid ,
First of all thank you again for the great work.
I would like to make some feature requests.
(i think some may be applicable to this indicator and some may be better done with other)
One of the feature requests I have already explained in a post above. ( quote it here so there is no need to repeat it)
The second would be a great risk management tool for active traders. It would be great if we could include in this calculator (or maybe another indicator or EA) a way for us to put Max risk limits.
This would be basically some options to put Max Loss per Day, Week, Month and Max DD.
And once each one is triggered we get a notification (using MT4 notifications and/or in the chart. ideally configurable). This way we can have better enforcement in terms of our risk limits. Sometimes we are trading and so into it that we forget and may pass a risk limit without knowing.
It would be great also if they could be configured between using calendar months and using rolling periods for this Max Loss limits.
It could also be cool if a max exposure setting could be placed and similarly notify when the open trades risk is more than X% of the account. This could be included in the already existing Risk tab as the calculation is already done there.
I would love if these features could be implemented in some way as they are great for risk management. They are so valuable that I would be happy to contribute monetarily and with my time to help implement this functions into this indicator or maybe another alternative.
(i have some mql4 knowledge working with simple EAs, I'm not great at indicators but I can help if needed and would love if the tool could stay in same open source format it is now so much more traders can benefit from it in the future)
Thanks for everything @Enivid
First of all thank you again for the great work.
I would like to make some feature requests.
(i think some may be applicable to this indicator and some may be better done with other)
One of the feature requests I have already explained in a post above. ( quote it here so there is no need to repeat it)
The second would be a great risk management tool for active traders. It would be great if we could include in this calculator (or maybe another indicator or EA) a way for us to put Max risk limits.
This would be basically some options to put Max Loss per Day, Week, Month and Max DD.
And once each one is triggered we get a notification (using MT4 notifications and/or in the chart. ideally configurable). This way we can have better enforcement in terms of our risk limits. Sometimes we are trading and so into it that we forget and may pass a risk limit without knowing.
It would be great also if they could be configured between using calendar months and using rolling periods for this Max Loss limits.
It could also be cool if a max exposure setting could be placed and similarly notify when the open trades risk is more than X% of the account. This could be included in the already existing Risk tab as the calculation is already done there.
I would love if these features could be implemented in some way as they are great for risk management. They are so valuable that I would be happy to contribute monetarily and with my time to help implement this functions into this indicator or maybe another alternative.
(i have some mql4 knowledge working with simple EAs, I'm not great at indicators but I can help if needed and would love if the tool could stay in same open source format it is now so much more traders can benefit from it in the future)
Thanks for everything @Enivid
Thank you for your suggestion! Currently, it looks like this would be quite different from what the PSC is doing. I believe it would be better implemented as a separate tool - an EA or indicator.
Hello. I apologies if this question was ask before. But I recently download and installed the Position Size Calculator for MT5, but the PSC panel does not appear on top of the chart nor does the "PanelOnTopOfChart" appear in the Input Parameter box. It only creates another indicator window with some data in it....unlike the PSC on my MT4. Please advise how to fix this. Thank you.
You are probably using some old version of PSC. Please download the latest one here:
https://www.earnforex.com/metatrader-indicators/Position-Size-Calculator/#Downloads
And make sure you follow the installation steps. Then, make sure you are trying to attach the right indicator.
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