This risk management tool for MetaTrader 4 and 5 calculates optimal lot sizes based on user-defined risk parameters, account balance, and currency. It provides a graphical user interface for setting entry, stop loss, and take profit levels visually on the chart. The expert advisor accounts for commissions, swaps, and m
Utility · MT4 · MT5
Position Sizer
The Position Sizer is a trade management tool for MetaTrader 4 and 5 that calculates the appropriate lot size based on account balance and risk tolerance.
GitHub stars2
Forks0
Last update1 year ago17 Dec 2024
LicenceApache-2.0
Overview
Position Sizer allows traders to define risk as a percentage or fixed monetary amount, adjusting the position size dynamically as stop-loss and take-profit lines are moved on the chart. The EA supports ATR-based levels, commission adjustments, and margin requirement calculations. While it includes trade execution buttons, it functions primarily as a calculator and risk management panel rather than an autonomous trading robot.
- Risk-based position size calculation
- Interactive chart lines for entry and exit levels
- ATR-based stop-loss and take-profit settings
- Commission and spread adjustment options
- Integrated trade execution panel
Details
Author
techteam92 on GitHub
Type
Utility
Platform
MetaTrader 4 (MQL4) and MetaTrader 5 (MQL5)
Markets
Any symbol
Timeframes
Any timeframe
Risk Profile
No grid, martingale or hedging logic was found in its code or README. That says nothing about how it performs: backtest it first.
EA Files
Input Parameters
Read from Position Sizer.mq4. Defaults are the author's; change them in the EA's Inputs tab.
| Name | Type | Default | Description |
|---|---|---|---|
ShowLineLabels | bool | true | ShowLineLabels: Show point distance for TP/SL near lines? |
ShowAdditionalSLLabel | bool | false | ShowAdditionalSLLabel: Show SL $/% label? |
ShowAdditionalTPLabel | bool | false | ShowAdditionalTPLabel: Show TP $/% + R/R label? |
DrawTextAsBackground | bool | false | DrawTextAsBackground: Draw label objects as background? |
PanelOnTopOfChart | bool | true | PanelOnTopOfChart: Draw chart as background? |
HideAccSize | bool | false | HideAccSize: Hide account size? |
ShowPointValue | bool | false | ShowPointValue: Show point value? |
ShowMaxPSButton | bool | false | ShowMaxPSButton: Show Max Position Size button? |
StartPanelMinimized | bool | false | StartPanelMinimized: Start the panel minimized? |
ShowATROptions | bool | false | ShowATROptions: If true, SL and TP can be set via ATR. |
sl_label_font_color | color | clrLime | SL Label Color |
tp_label_font_color | color | clrYellow | TP Label Font Color |
Show all 40 inputs
| Name | Type | Default | Description |
|---|---|---|---|
font_size | uint | 13 | Labels Font Size |
font_face | string | Courier | Labels Font Face |
entry_line_color | color | clrBlue | Entry Line Color |
stoploss_line_color | color | clrLime | Stop-Loss Line Color |
takeprofit_line_color | color | clrYellow | Take-Profit Line Color |
entry_line_style | ENUM_LINE_STYLE | STYLE_SOLID | Entry Line Style |
stoploss_line_style | ENUM_LINE_STYLE | STYLE_SOLID | Stop-Loss Line Style |
takeprofit_line_style | ENUM_LINE_STYLE | STYLE_SOLID | Take-Profit Line Style |
entry_line_width | uint | 1 | Entry Line Width |
stoploss_line_width | uint | 1 | Stop-Loss Line Width |
takeprofit_line_width | uint | 1 | Take-Profit Line Width |
DefaultTradeDirection | TRADE_DIRECTION | Long | TradeDirection: Default trade direction. |
DefaultSL | int | 0 | SL: Default stop-loss value, in broker's points. |
DefaultTP | int | 0 | TP: Default take-profit value, in broker's points. |
DefaultEntryType | ENTRY_TYPE | Instant | EntryType: Instant or Pending. |
DefaultShowLines | bool | true | ShowLines: Show the lines by default? |
DefaultLinesSelected | bool | true | LinesSelected: SL/TP (Entry in Pending) lines selected. |
DefaultATRPeriod | int | 14 | ATRPeriod: Default ATR period. |
DefaultATRMultiplierSL | double | 0 | ATRMultiplierSL: Default ATR multiplier for SL. |
DefaultATRMultiplierTP | double | 0 | ATRMultiplierTP: Default ATR multiplier for TP. |
DefaultATRTimeframe | ENUM_TIMEFRAMES | PERIOD_CURRENT | ATRTimeframe: Default timeframe for ATR. |
DefaultSpreadAdjustmentSL | bool | false | SpreadAdjustmentSL: Adjust SL by Spread value in ATR mode. |
DefaultSpreadAdjustmentTP | bool | false | SpreadAdjustmentTP: Adjust TP by Spread value in ATR mode. |
DefaultCommission | double | 0 | Commission: Default one-way commission per 1 lot. |
DefaultAccountButton | ACCOUNT_BUTTON | Balance | AccountButton: Balance/Equity/Balance-CPR |
DefaultRisk | double | 1 | Risk: Initial risk tolerance in percentage points |
DefaultMoneyRisk | double | 0 | MoneyRisk: If > 0, money risk tolerance in currency. |
DefaultCountPendingOrders | bool | false | CountPendingOrders: Count pending orders for portfolio risk. |
How to Install It
- 1Download the sourceUse "Download source (.zip)" above, or clone techteam92/positionsize-EA- from GitHub, and unzip it.
- 2Open the data folderIn MetaTrader choose File, then Open Data Folder, and go to MQL4/Experts or MQL5/Experts.
- 3Copy the filesCopy the .mq4 / .mq5 file into Experts, and any .mqh files into the Include folder the code expects.
- 4Compile in MetaEditorOpen the file in MetaEditor and press Compile. Fix any missing includes the compiler reports.
- 5Test before you tradeRun it in the Strategy Tester, then attach it to a demo chart and allow algorithmic trading.
Third-party code. ForexR did not write, test or endorse this EA, and the summary above was generated automatically from its README and code. ForexR lists only repositories with readable source code and never hosts files. Read the code, backtest it and use a demo account first; automated trading can lose money quickly.
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