Lot calculation indicator for MT4 trading terminal
One of the conditions for reducing risks in trading is a competent selection of the volume of the deal. It can be calculated independently, but it is much more convenient to use the appropriate indicator for this purpose. You can find a lot of such tools on the network. But I’m gonna offer you the best option I think you can today. This is the indicator of lot calculation, which is called LotSize. I’ll put a link to download the indicator file at the end of this article. There should be no problems with its installation in the trading terminal, as it is done in the standard scheme.
In order for the lot calculation indicator to work correctly and help the trader in trading, first you need to make the necessary settings.
Since the volume of a trade deal is affected by the size of the deposit, it should be specified in the parameters on the line “Depozit”. If the deposit on the trading account is, say, $15000, then this amount should be specified in the settings of the indicator. If you leave the default value of “0”, LotSize will perform calculations using the current trading account balance.
“PlusDepo” parameter allows you to increase the specified deposit by a certain amount.
The next parameter in the settings is “RiskSdelka”. We use it to set the percentage of risk that is allowed to be used in calculations.
And finally, the last parameter is “P”. It determines the number of decimal places in the lot size. That is, if you specify, for example, 2, the size of the lot will be displayed with two characters (0.01; 0.15, etc.).
How to use LotSize
After installing the indicator on the chart, it will look like this:
The green line is a recommendation to open an order, and the red line is a stop-loss level.
In the left-hand corner we see information about the lot size. With a deposit of $5000 and a risk of 2 percent, LotSize offers to open a deal of 0.12 lots in the market or place a pending order of 0.99 lots. Also, the indicator indicates that the size of the risk in terms of currency is $99 per trade.
Indicator lines can be moved at will. For example, set them near important levels. At the same time, the calculated values of the indicator will change, which, of course, is convenient. But this tool, however, like any other, requires preliminary testing in demo trading. After getting enough skills LotSize can be used to calculate the lot in real trading.
Download Lot calculation indicator: