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Lot calculator tool

3.55

MetaTrader 5 ported version is available here: Lot Calculator Tool MT5.

This tool helps you to automatically calculate and manage risk, conveniently place orders visually, schedule orders, trail stops, move them to break-even, manually test strategies and more.


Features

  • Place market or pending orders using draggable lines
  • Schedule orders
  • Calculate and limit risk using various methods
  • See current spread
  • See time till next candle
  • Set custom order comments
  • Trail stops
  • Move stops to break-even
  • See order profit/loss in pips
  • Various actions for closing orders
  • Control the tool using hotkeys
  • Toggle trade levels
  • Manually test strategies using this tool tester mode with controllable speed


Settings

  • Risk settings
    • Preferred percentage risk per trade - tool will calculate lot size to match this risk percentage
    • Lot calculation mode - possible modes: current balance / current equity / balance at defined past / fixed lot size
    • Defined past period - possible periods: day / week / month
    • Past period multiplier - the bigger, the further to the past
    • Lot size for fixed mode
    • Split risk for multiple targets
  • Orders settings
    • Magic number
    • Maximum allowed slippage
    • Order comment - limited to 31 characters. Possible wildcards: [currency], [balance], [equity], [risk_percentage], [risk_reward], [risk_money], [risk_pips], [profit_money], [profit_pips], [lots]
    • Allow to change default order comment - adds an input to UI
    • Log order send events
    • Allow setting an expire date for orders
    • Allow scheduling orders
    • Virtual levels settings
    • Scheduled order price label size
  • Break-even settings
    • Move stops to break-even at certain level
    • Break-even mode - possible modes: when in profit by given pips, if away from target by given pips, if given percentage of target reached
    • Break-even activation pips / % - depends on chosen mode
    • Move to break-even by given pips above entry line
  • Stop trailing settings
    • Trail stops
    • Trail only after stops have been move to break even, if be used
    • Trailing stop mode - possible modes: fixed pips, ATR, moving average
    • Trailing stop fixed pips
    • Trailing stop ATR period
    • Trailing stop ATR shift
    • Trailing stop distance multiplier - does not apply to MA mode, but useful for setting 2 ATR distance
    • Trailing stop MA mode, applied price, period, shift
    • Prevent stops trialing until specified pips of profit reached
    • Pips of profit to reach before trailing stops - if above enabled
    • Prevent stops trailing until specified percentage of target reached
    • Percentage of target to reach before trailing stops - if above enabled
  • Order limiter settings
    • Limit trades if lost to many trades in a row per day
    • Limit trades if too big % of account has been lost per day
    • Limit trades if too big % of account has been lost per week
    • Limit trades if too much will be at risk at the moment
    • Daily loss in a row limit
    • Daily account loss % limit
    • Weekly account loss % limit
    • Total risk of equity % limit
  • Lines settings
    • Automatically choose initial lines placement (sell / buy) - uses price and moving average to decide
    • Manual default start position for lines - if above disabled
    • Initial distance from current price mode - possible modes: fixed pips, ATR
    • Initial distance parameter (ATR period / pips)
    • Line size, style
    • Use target line
    • Display "Add target" button
    • Prevent from moving stops too far, thus exceeding defined risk
    • Display monetary amounts on lines
    • Display balance percentages on lines
    • Display scheduled order lines
    • Scheduled order line style
  • Other features
    • Display lines flipper button
    • Display "Follow price" button
    • Show "Close all/pending/opened" buttons
    • Show "Close in profit/loss" buttons
    • Display only one order button
    • Display current spread
    • Display time till next candle
    • Display Ask/Bid line by default
    • Display order profit in pips
    • Display order close button
    • Screenshots
  • Color settings
    • Color for lines, buttons, inputs and other UI elements
  • Hotkeys settings
    • Enable hotkeys
    • Show lines hotkey
    • Hide lines
    • Toggle trade levels
  • Tester settings
    • Initial tester speed
  • UI settings
    • Chart corner
    • UI on top
    • Compact mode

Important: if order limiters are used, make sure that your Account history tab is not filtered and displays all of the history.

Important: do not have more than one EA enabled for the same symbol with scheduled orders enabled. This might cause more than one order being sent to broker!

Reviews 14
Napasorn .
63
Napasorn . 2023.01.11 01:14 
 

I edit from 2 stars to 5 stars as the owner fixed the EA regards to the 5th decimal point. Would be perfect if he add field to put in commission charged per lot as well.

////

I like this ea interface very much. but there is problem with the 5th decimal place of currency price. for example for 4.9 pips SL distance, it will see as 4.0 pips. not just the display but it use 4.0 pip in the lot calculation too instead of using 4.9 pips. For the EA to use 4 pips is very misleading, instead of 4.9

The ea neglects the point (5th decimal place). this is a big deal for me as I like to trade lower time frame. I hope the owner will fix this because I still like the interface of this ea very much. giving this a 2 star is not what I enjoy doing because otherwise is 5 stars. The owner respond to my questions everytime which is very nice. but correct risk calculation is the heart of this.

Matthew
503
Matthew 2022.06.02 22:26 
 

I give this tool 5 Stars because it does everything it promises and saves a lot of time. Very helpful to place orders with the right risk management without thinking. It has a lot of extra features, but for me its enough to place orders for my trend following strategy with the right riskmanagement!

Jazz1964
150
Jazz1964 2020.12.16 15:35 
 

Very helpful tool. I use it for all my manual trading. Works very well, no problems at all.

Edit 29-12-2020: Ernestas reviewed my request for two features and decided to add them to the tool. He did the job perfectly. Thank you!

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Take control of your forex portfolio. See instantly where you stand, whats working and whats causing you pain! MT5 VERSION AVAILABLE HERE:  https://www.mql5.com/en/market/product/58658 The Trade Manager Dashboard is designed to show you at a glance where each position you have in the forex market currently is, and make risk management and exposure to currencies easier to understand. For traders that scale into the market gradually with multiple positions or those trading grid and basket strate
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The utility is designed to change the symbol of the current, all or selected charts, change the timeframe , as well as to synchronously move through the history of all charts (automatically or by clicking the button). The list of symbols is read from the "Market Watch" or is set manually. The color, size and position of the buttons are customizable. Synchronization of charts occurs according to the time of the first visible bar when you press the "SYNC" button or when moving the mouse/keyboard i
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Lot calculator tool MT5
Ernestas Kvedaras
3.67 (3)
More stable MetaTrader 4 version is available here:  Lot Calculator Tool . This tool helps you to automatically calculate and manage risk, conveniently place orders visually, schedule orders, trail stops, move them to break-even and more. Features Place market or pending orders using draggable lines Schedule orders Calculate and limit risk using various methods See current spread See time till next candle Set custom order comments Trail stops Move stops to break-even See order profit/loss in
Filter:
Napasorn .
63
Napasorn . 2023.01.11 01:14 
 

I edit from 2 stars to 5 stars as the owner fixed the EA regards to the 5th decimal point. Would be perfect if he add field to put in commission charged per lot as well.

////

I like this ea interface very much. but there is problem with the 5th decimal place of currency price. for example for 4.9 pips SL distance, it will see as 4.0 pips. not just the display but it use 4.0 pip in the lot calculation too instead of using 4.9 pips. For the EA to use 4 pips is very misleading, instead of 4.9

The ea neglects the point (5th decimal place). this is a big deal for me as I like to trade lower time frame. I hope the owner will fix this because I still like the interface of this ea very much. giving this a 2 star is not what I enjoy doing because otherwise is 5 stars. The owner respond to my questions everytime which is very nice. but correct risk calculation is the heart of this.

DaJenks Jenks
323
DaJenks Jenks 2022.09.06 03:05 
 

this utility sucks it crashes a lot

Matthew
503
Matthew 2022.06.02 22:26 
 

I give this tool 5 Stars because it does everything it promises and saves a lot of time. Very helpful to place orders with the right risk management without thinking. It has a lot of extra features, but for me its enough to place orders for my trend following strategy with the right riskmanagement!

ANDRE ALMEIDA
769
ANDRE ALMEIDA 2021.01.26 13:07 
 

In the lower times it does not calculate correctly! Useless tool.

Ernestas Kvedaras
2827
Reply from developer Ernestas Kvedaras 2023.01.17 21:50
Should calculate correctly now
Jazz1964
150
Jazz1964 2020.12.16 15:35 
 

Very helpful tool. I use it for all my manual trading. Works very well, no problems at all.

Edit 29-12-2020: Ernestas reviewed my request for two features and decided to add them to the tool. He did the job perfectly. Thank you!

pavelznava
37
pavelznava 2020.10.05 21:38 
 

Podrobnější návod třeba i video jak nadstavit kterou položku a jak nadstavit v testeru jinak skvělý nástroj .Děkuji

charlieraly
79
charlieraly 2020.01.06 10:20 
 

I keep getting error code 130-unknown TF when using renko charts. I'm asking for a refund

rmiguel
25
rmiguel 2019.12.10 02:27 
 

I feel like I lost my money! It's unstable, it freezes I regret buying this.

Morard Kevin
1506
Morard Kevin 2018.05.23 13:01 
 

Juste parfait!

Liquinvest
117
Liquinvest 2017.08.15 16:37 
 

hi, fantastic indicator - for the Breakeven Funktion i have an idea. Stop-loss = Breakeven Level. The idea behind is for the % trader. example: 8 pips = 1% risk. Breakeven after 8 pips - R:R 1 -(maybe there will be an option stop loss + x pips) - so if you have 20 pips 1% risk then break even is after 20 pips. That is better for trader with fix % risk so the break even level is always the same in % risk.

[Deleted] 2017.07.31 10:19 
 

User didn't leave any comment to the rating

4xonly
122
4xonly 2017.07.21 16:49 
 

Fine EA to control risk and profit "on the move" and the coder keeps implementing the suggestions by the users. I bought a much more expensive one long time ago (not actively developed anymore) but this one is much handier to use. I too hope Ernestas will code an MT5 version for the future.

rakyan
572
rakyan 2017.04.10 20:38 
 

Everything I'm looking for, and more. Save me a lot of time

985398
140
985398 2016.12.12 08:14 
 

I purchased this EA which is really misnamed. It should be called: Lot Calculator & Adjustable Visual Order entry with stop, limit and market order tool and yes, a great strategy tester interface. I now use it for every trade and would hate to part with it. I hope the author is learning MT5 coding for when MT4 is discontinued in the near future.

Excellent product!!!

Reply to review
Version 3.28 2023.01.13
Fixed

* Use the precise amount of pips in calculations instead of integers only, this should help with calculating more accurate lot size in low timeframes
Version 3.26 2022.02.02
Added

* Close long / short orders buttons
Version 3.25 2021.11.04
Fixed:

* Lot size calculation when equity mode is used
* Display correct label (balance/past balance/equity) on lines based on chosen mode
* Send orders with correct lot size when only one target is used
* Show correct lot amounts on target lines when multiple of them are used and custom lot distribution fields are displayed
Version 3.23 2021.07.27
Fixed:

* Profit target was not being set when sending order with only 1 target.
Version 3.22 2021.01.10
Fixed:

* An issue where single target orders where sent as 0.01 lot sized

Updated:

* Prevent distributed risk from being 0. It should be minimum 1, otherwise risk distribution gets higher by 0.01 lot
Version 3.21 2020.12.28
Added:

* Ability to define maximum lot size to prevent accidentally high orders
* Ability to define custom lot distribution between multiple target orders. Each field defines how much of the remaining lot size should be allocated for that order. So the last value should almost always be 100% to give the remaining order all remaining lots.
Version 3.20 2020.10.06
Fixed:

* Locked RR will now work with locked stops and price following
Version 3.19 2020.10.03
Added:

* Ability to lock Risk Reward ratio by either pressing a new UI button or a hotkey (R by default)
Version 3.18 2020.03.01
Fixed:

* A glitch in UI elements positioning. Make sure that lines toggle button is always the first one.
* Break even and stop trailing should manipulate virtual levels if order was created with them instead of moving/creating real ones.
Version 3.17 2020.02.23
Fixed:

* Improve UI elements scaling on high DPI displays

Updated:

* Show more information in order send confirmation box
Version 3.16 2020.02.23
Added:

* Option to ask for a confirmation before sending an order
Version 3.15 2020.02.23
Updated:

* Code updated to work with new compiler.
Version 3.14 2019.02.25
Added:

* Fixed amount risk mode. EA will attempt to calculate lot size so it matches preffered monetary value as close as possible
Version 3.13 2019.02.25
Fixed:

* When using account balance for risk calculation add account credit to the mix
Version 3.12 2019.02.13
Added:

* Close all symbols button
Version 3.11 2019.02.03
Added:

* Option to change risk percentage without changing EA parameters
Version 3.10 2018.10.30
Fixed:

* Stop lock feature now works with price following enabled as well

Updated:

* Prevent entry line from being selected and moved by user when price following is enabled
Version 3.9 2018.10.23
Added:

* Added a button to lock current stop loss distance from entry line. Can be enabled by setting "Show Fix stop line distance from entry line button" to "true"
Version 3.8 2018.07.09
* Fixed an issue when line text was not updating when target line was disabled
* Added the new feature to enable fixed stop distance
Version 3.7 2018.05.31
Fixed:

* Issues with using virtual levels
* Errors when using move to breakeven feature with pending orders
* Disable the pending order button when any of the rules is violated (see: https://book.mql4.com/appendix/limits )
Version 3.6 2018.02.21
Added:

* Ability to take a screenshot by pressing a button or a hotkey
* Ability to automatically take screenshots of placed, opened, modified, deleted, closed, winning or losing orders

Fixed:

* Crashing when virtual levels are enabled
Version 3.5 2018.02.09
Added:

* Virtual stop loss and target profit levels
* Toggle to prevent disabling lines when an order is placed
Version 3.4 2018.01.11
Added:

* Ability to show order close button and other UI elements on the left instead of on the right
* Added starting position distance multiplier
* Added starting position risk reward option
* Added compact mode
* Added options to keep UI elements on the same line
Version 3.3 2017.12.27
Added:

* Scheduled orders
* Ability to set expiration date

Fixed:

* Issues with price following when loading from chart template
Version 3.2 2017.11.07
Fixed:

* Breakeven feature was only working with long orders. Now it works with both long and short orders.
* Order close button and other UI elements linked to specific order were most likely only being removed when the EA is operating in the Strategy Tester. Now it works in normal mode, too.
* The EA no longer hangs when an order is closed.
Version 3.1 2017.10.24
* Fixed an issue with tool crashing when loading chart from template
Version 3.0 2017.10.16
Changed:

* Complete rewrite of the code to ease and speed up future improvements and increase stability
* Refactored settings to ease understanding
* UI rewriten to be more flexible to extend and control

New:

* All features moved under feature toggles
* Tiny buttons to close order (color changes)
* Order profit in pips (color changes)
* Spread display
* Time till next candle display
* Ability to change custom order comment
* Toggleable lines text parts such as monetary values
* Configureable initial lines distance and position auto detection
* Ability to show only one order button depending on entry line position and current price
* Hotkeys to toggle lines and trade levels
* Trail stops only after moved to break-even (configurable)
* Trail stops only after reaching some profit
* Buttons to close all, market, pending, profitable or loosing orders

Fixed:

* Order limiters issues and added notice message before using them

Removed:

* Removed theming since it only made the code very complex and did not add any real value
* Removed redundant tester settings
Version 2.7 2017.08.03
* Fixed issue with black / white entry line color auto switch
* Add extra targets on the correct side of entry line
* Fixed issue when risk was split no matter what config value is set to
* Added setting to control default "Follow Price" button state
Version 2.6 2017.07.28
* Added "Follow price" button. When toggled, entry line will follow current price.
* Display potential profit in account balance percentage.
* Fixed issue, which caused orders not being sent if profit target line is disabled.
* Fixed issue, with white chart background and default lines theme.
Version 2.5 2017.07.03
* Added break-even stops feature
Version 2.4 2017.05.17
Fixed theme options reloading after editing parameters of already loaded EA
Version 2.3 2017.05.11
* Added new option "Split risk if multiple targets are used"
Version 2.2 2017.03.24
Restore lines on time-frame change
Version 2.1 2017.03.14
If limits are set to 0, they will not be checked
Version 2.0 2017.02.23
New:

* Added ability to customise order comments. Available wildcards:
> [currency]
> [balance]
> [equity]
> [risk_percentage]
> [risk_reward]
> [risk_money]
> [risk_pips]
> [profit_money]
> [profit_pips]
> [lots]
* Added new lot calculation mode: Balance at defined past. Now recommended size may also be calculated of balance at previous point in time (days / weeks / months)
* Added new lot calculation mode: Fixed lot size.
* Added support for trailing stops. Three modes are supported: Fixed pips, ATR, Moving average.
* Added ability to prevent sending orders if daily loss limit has been reached.
* Added ability to prevent sending orders if weekly loss limit has been reached.
* Added ability to prevent sending orders if loss in a row limit has been reached.
* Added ability to prevent sending orders if current total equity risk exceeds allowed one.

Fixed:

* Risk in account currency calculation
* Button positions when places on the right side of the chart
Version 1.1 2016.12.05
* Fixed profit in account currency calculation
* Fixed issues with symbol trade tick size
* Add button to flip lines