About the Position Size Indicator
The Position Size Indicator for MT5 helps traders calculate optimal trade sizes, stop losses, and take profit targets based on the Average True Range (ATR) and account balance.
It provides a clear dashboard that displays all the relevant information on the upper right-hand corner of the chart.
This indicator is useful for risk management, allowing traders to plan trades precisely according to their account size and desired risk percentage.
Traders can adjust inputs such as ATR period, risk percentage, stop loss and take profit as a factor of ATR, font size, dashboard corner, colors, fixed ATR points, and display options to fit their preferences and trading style.
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Key Features
- Calculates optimal trade sizes based on ATR and account balance.
- Displays stop loss and take profit levels for precise risk management.
- Adjustable ATR period and risk percentage settings.
- Customizable stop loss and take profit factors relative to ATR.
- Flexible display options including font size, corner position, colors, and background objects.
- Helps traders maintain consistent risk and reward ratios.
Indicator Chart
The Position Size Indicator shows a compact dashboard on the chart, providing trade size, stop loss, and take profit information at a glance.
Traders can quickly see the suggested parameters before entering a trade, improving consistency and risk management.
Guide to Trade with Position Size Indicator
Setup
- Apply the indicator to your chosen chart.
- Adjust the ATR period according to your trading style.
- Set your desired risk percentage for each trade.
- Customize stop loss and take profit factors based on ATR or fixed points.
- Choose dashboard position, font size, and colors for readability.
Stop Loss
- The indicator calculates an optimal stop loss based on ATR and your risk percentage.
- Adjust manually if market volatility or recent swing points suggest a different level.
- Use the suggested stop loss consistently to manage risk effectively.
- Consider trailing stops if the trade moves strongly in your favor.
Take Profit
- The indicator calculates a take profit target based on ATR and desired reward-to-risk ratio.
- Close trades at the suggested level or adjust according to market conditions.
- Optionally scale out partial profits for larger trends.
- Use support and resistance levels to refine exit points if needed.
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FAQ
Can this indicator calculate position sizes for any account balance?
Yes. It uses your account balance and risk percentage to calculate trade sizes automatically.
Can I customize stop loss and take profit levels?
Yes. You can set stop loss and take profit as a factor of ATR or use fixed points for each trade.
Does it work on all instruments?
Yes. It works with Forex pairs, stocks, indices, metals, and any instrument supported by MT5.
Can I move the dashboard on the chart?
Yes. You can adjust the corner, offset, colors, and background object to suit your chart layout.
Summary
The Position Size Indicator makes calculating trade sizes, stop losses, and take profit targets quick and accurate.
Its dashboard format allows traders to manage risk efficiently while keeping all information visible on the chart.
Customizable inputs for ATR, risk percentage, and display settings make it a flexible tool for scalping, day trading, and swing trading, helping traders maintain consistent and precise risk management across all trades.
