Position size for balance's % risk free

by colga645 in category Other at 08/11/2015
Description

In indicator display position size for specified currency pair and balance's % risk (stop loss). It does not take into account spread or fees, so simply adjust % to accommodate those. I like to have this displayed o the chart, it helps me with risk management through different currency pairs.

 

Please let me know by comment if it is useful for you or how would you improve.

 

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Formula / Source Code
Language: C#
Trading Platform: cAlgocTrader
using System;
using cAlgo.API;
using cAlgo.API.Internals;
using cAlgo.API.Indicators;

//calculate position size for current balance and specified risk (stop loss) per position; 
//does not take not account commission or spread though, simply adjust risk % to accommodate those

namespace cAlgo.Indicators
{
    [Indicator(IsOverlay = true, AccessRights = AccessRights.None)]
    public class PositionRiskkrp : Indicator
    {

        //percentage of current balance that can be risked (stop loss size in pips) on one position
        [Parameter("Stop Loss Risk %", DefaultValue = 5)]
        public int stopLossRiskPercent { get; set; }

        [Parameter("Stop Loss in Pips", DefaultValue = 10)]
        public int stopLossInPips { get; set; }

        public override void Calculate(int index)
        {
            if (index == 0)
                DisplayPositionSizeRiskOnChart();
        }

        private void DisplayPositionSizeRiskOnChart()
        {



            double costPerPip = (double)((int)(Symbol.PipValue * 10000000)) / 100;

            double positionSizeForRisk = (Account.Balance * stopLossRiskPercent / 100) / (stopLossInPips * costPerPip);

            string text = stopLossRiskPercent + "% x " + stopLossInPips + "pip = " + Math.Round(positionSizeForRisk, 2) + " lot";

            ChartObjects.DrawText("positionRisk", text, StaticPosition.TopRight, Colors.Yellow);

        }
    }
}
Comments

Jonkey - November 09, 2015 @ 05:36

Thank you, Simple but effective.

ka.wcs - December 19, 2015 @ 10:29

Hello,

A great help.

If we could get 2 lines on the screen (to drag and drop them) with differents colors, (one for the OPEN position (Lime ?), one for the SL position (Red ?)), and calculate directly the lotsize from the Risk % and theses 2 lines's difference in pips, it would be a nice improvement.

I've the .MQ4 for this, if it can help.

I've try to convert it with 2cAlgo, but it can't, saying it's a MQ5 code (?)

Thanks for this.

Andrew

 

colga645 - December 24, 2015 @ 09:33

ka.wcs,

Thanks for your comment. I wondered when somebody will ask for this little, extra helper with marked up stop/profit levels ;) Here is the one I use, as a separate indicator, works good as a combo with the risk indicator. No drag and drop though, too much trouble. On the other hand it is dynamic, so it always oscillate around current price and that whole the point of this helper. Also I prefer to keep those two separate, rather as one indicators. Reason is, you might want to keep it on smaller time frame, but on larger one levels are set visually too close, so you want to remove it.

/algos/indicators/show/1044

Just one general comment for all you guys who consider the current one. Obviously you can have it as a separate tool: an excel spreadsheet or an online calculator. I like to keep it as an indicator directly on my charts - it helps me to remember about risk management ;)

 

Have a good Christmas and safe trading!!!

Dore - February 12, 2016 @ 00:54

How can I change the color.  I like to use a white background & the yellow is hard to see.  I also like the suggestion from ka.wcs that would be very useful 

Thanks

Bob

exportwork - March 15, 2016 @ 22:56

Hi colga645,

I saw your great work here at ctrader forum.

Can the below link of mt4 position sizing indicator and script be made for ctrader platform (it is a position sizing automatic risk lots calculation and market order placement):

Earn forex website forum link ( they have already made it for mt4 platform but not ctrader platform): http://www.earnforex.com/metatrader-indicators/Position-Size-Calculator/

it's very very useful. Please feel free to reply at my below email.

Regards,

Paras sharma (Email: exportwork@yahoo.com )

Omega - February 10, 2019 @ 00:54

Hi there,

 

Nice little software, I've put this on the GER30 (DAX) and US30 (Dow) but it doesn't work, are you able to adjust so that it does work on the indices?

 

Thanks


D

matt92 - August 08, 2019 @ 01:17

Do you have a version that does this using volume (unit size) instead ot lot size. Thanks

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