The Money Management Position Size MT4 forex indicator is based on the Average True Range (ATR) technical indicator.
The Position Size indicator provides you with the recommended stop loss, lot size and take profit level based on your equity.
You will need to input the risk you are prepared to take per trade.
Open the indicator’s inputs menu and change the “Input Risk %” to whatever value you want.
However, never risk more than 2% of your equity per open trade.
The default value is set to 0.01. This translates to 1% risk of your equity.
Based on your equity and risk per trade, the indicator calculates the trade volume, optimal stop loss and take profit level.
Download the “pos_size.mq4” MT4 indicator
The EUR/USD 15-Minute chart below displays the Money Management Position Size Metatrader 4 indicator in action.
Basic Trading Signals
No trading signals from the Money Management Position Size MT4 indicator.
Download the “pos_size.mq4” Metatrader 4 indicator
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: Chart pattern indicator
Customization options: Variable (ATR periods, risk size %, stop loss as a factor of ATR, take profit as a factor of ATR) Colors, width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Type: risk management
Copy and paste the pos_size.mq4 into the MQL4 indicators folder of the Metatrader 4 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL4 > Indicators (paste here)