The Forex Money Management indicator for Metatrader 5 is an interesting technical tool that can help you to keep control of the risk taken per trade.
The indicator has a lot of functionality that can be fully edited according to your own preferences (see list below).
- capital calculation mechanism
- risk fraction of capital
- stop loss points calculation mechanism
- ATR length for ATR based stop loss
- ATR value multiplier
- fixed size stop loss point count
The Forex Money Management works for any trade instrument that can be loaded in Metatrader 5.
Make yourself familiar with this technical indicator and test it first on a demo account.
It supports all time frames, Forex pairs and any other trade instrument.
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The following chart shows how the Forex Money Management indicator looks like when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The Forex Money Management Indicator?
The money management indicator does not deliver any buy or sell signals. Please use it together with other technical indicators or trading strategies.
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Frequently Asked Questions
How Do I Install This Custom Indicator On Metatrader 5?
- Open the MT5 trading platform
- Click on the File menu button located at the top left part of the platform
- Click on Open Data Folder > MQL5 folder > Indicators
- Copy the EG-Money-Management.mq5 indicator file in the Indicators folder
- Close and restart the trading platform
- You will find the indicator here (Navigator window > Indicators)
- Drag the indicator to the chart to get started with it!
How Do I Edit This Indicator?
- Click in the open chart with your right mouse button
- In the dropdown menu, click on Indicator List
- Select the indicator and click on properties
- Now you can edit the inputs, colors, levels, scale and visualization
- Finally click the OK button to save the new configuration