Position Size Calculator

[Enivid]

@Napolean No, it works fine for indices. The problem here is that to get your target risk (or reward) it needs to open a trade with size greater than 2 but less than 3, whereas the lot step size at your broker is set to 1, so it is rounding it down to 2.
You can turn of rounding down (which I don't recommend), use a larger account, so your USD risk is higher and it is easier to get the right position size, or change a broker/account type to one with smaller lot step size.

 

[Napolean]

Thanks for the speedy reply.
So i just checked with my broker and they said that only MT5 have that non rounding system.
Edited for update

 

[Shore34]

It looks like this broker doesn't return correct SYMBOL_TRADE_CONTRACT_SIZE for its symbols to MQL5 programs.
As you can see on the screenshot, it returns the value as 39761.2:
View attachment 18280
While in reality it is 1000 as the symbol's specification shows it.
That's, unfortunately, a problem with many brokers. Without the correct contract size value, it is impossible to calculate the risk correctly.

Thanks Enivid for taking the extra effort to help me!
Really appreciated, buddy!
Yeah, without the correct contract size value, it is impossible to calculate the risk correctly. I will go back to my old broker.

 

[Napolean]

Is there an input to change so the TP line would appear without needing to press the Take-Profit button when launching the PSC?

 

[Enivid]

Is there an input to change so the TP line would appear without needing to press the Take-Profit button when launching the PSC?

Yes, there is a default TP input parameter.

 

[ThomasL]

I have an important improvement to make.
Pip value is not quite correct in the main board
should be spread times the pip value equal to the opening price for the position.
Otherwise, I have to calculate the price myself.
Then I can immediately see what it costs to open a position.

 

[Enivid]

I have an important improvement to make.
Pip value is not quite correct in the main board
should be spread times the pip value equal to the opening price for the position.
Otherwise, I have to calculate the price myself.
Then I can immediately see what it costs to open a position.

Sorry, but I don't understand. How exactly is pip value incorrect? And how can it depend on spread?

 

[ThomasL]

Pip value must indicate how much it costs to open this position.Sorry, but I don't understand. How exactly is pip value incorrect? And how can it depend on spread?

Sorry, but I don't understand. How exactly is pip value incorrect? And how can it depend on spread?

Pip value must indicate how much it costs to open this position.

 

[Enivid]

Pip value must indicate how much it costs to open this position.

In my opinion, pip value should show how much loss or profit one pip of price movement equals in the account currency. Why would it show anything else?

 

[Napolean]

Yes, there is a default TP input parameter.

I meant to say a way to show the TP line without specifying the price or points but based on whatever reward multiplier that has been assigned. It's because when i load the PSC, the SL will be based on the low of the candle, if i am to put the TP price or point, isn't that's going to be different than the set reward multiplier? An ideal situation is when i load the psc with the SL set automatically at the low of the candle, the TP would appear based on whatever RR that have been assigned, without pressing the Take-Profit button.

 

[Enivid]

I meant to say a way to show the TP line without specifying the price or points but based on whatever reward multiplier that has been assigned. It's because when i load the PSC, the SL will be based on the low of the candle, if i am to put the TP price or point, isn't that's going to be different than the set reward multiplier? An ideal situation is when i load the psc with the SL set automatically at the low of the candle, the TP would appear based on whatever RR that have been assigned, without pressing the Take-Profit button.

No, it can't do that. Actually, the SL at the low of the bar was a very random choice - it just puts the line somewhere where it is visible and can be moved to your actual stop-loss level. PSC isn't designed to suggest you to put your SL to the low of the current bar.

 

[Napolean]

No, it can't do that. Actually, the SL at the low of the bar was a very random choice - it just puts the line somewhere where it is visible and can be moved to your actual stop-loss level. PSC isn't designed to suggest you to put your SL to the low of the current bar.

A random choice that fits my trading strategy very much. Thanks anyways.

 

[Nico van A]

i need help, please. I used the position size calculator on MT4, I moved to mt5, and am having issues getting the calculator indicator to work properly..
It does not allow me to enter my entry point or stop-loss, seems to take the current market value. how do i change it so that I can enter my own values

 

[Enivid]

i need help, please. I used the position size calculator on MT4, I moved to mt5, and am having issues getting the calculator indicator to work properly..
It does not allow me to enter my entry point or stop-loss, seems to take the current market value. how do i change it so that I can enter my own values

Most likely, you just need to switch the Entry Type from Instant to Pending on the panel.

 

[Nico van A]

thanks for the reply.
i have changed that to pending, and even when in pending it does that where it wants to take the current value as entry.
is it possible that my problem would be old pc with windows 7.
and i still have mt4 on my pc could that be a problem

 

[Enivid]

thanks for the reply.
i have changed that to pending, and even when in pending it does that where it wants to take the current value as entry.
is it possible that my problem would be old pc with windows 7.
and i still have mt4 on my pc could that be a problem

That shouldn't be a problem. Could you please show the screenshot of how your PSC panel looks like?
Also, what is the build of MT5 you are using?

 

[Nico van A]

That shouldn't be a problem. Could you please show the screenshot of how your PSC panel looks like?
Also, what is the build of MT5 you are using?

Sorry im new, and still learning mt5.
What is the psc panel and the build.

 

[Enivid]

@Nico van A PSC panel is the Position Size Calculator panel - that's what the indicator shows on the chart. E.g., here is mine:



You can view the build information via menu Help->About. Here is mine (build 2875):

 

[Nico van A]

it also shows ghost frames as i circled

 

[Nico van A]

i realy hope you can help. the position calculator worked fine on MT4, used it for almost a year on MT4 without any issues