About Lot Size Calculator
Lot Size Calculator is an Expert Advisor. Set the entry, stop loss and take profit on the chart, and the panel shows the lot size that loses your chosen risk if the stop loss is hit. One button places the order with that lot size.
How the lot size is worked out
- Risk: a percentage of your balance (2% by default) or a fixed amount. A setting switches the percentage to equity.
- Loss for 1 lot: the distance from the entry to the stop loss, valued with the symbol's tick value and tick size, plus the commission for 1 lot.
- Lot size: the risk divided by the loss for 1 lot, rounded down to the lot step, so the loss at the stop stays within the risk.
- MetaTrader gives the tick value in your account currency, so the same calculation works for forex pairs, crosses and gold with a USD, EUR, GBP, AUD or JPY account.
- A market buy is priced at the ask, so the spread is included. Commission per lot comes from a setting, or from your trade history for that symbol over the last 90 days.
On the chart
- A green take profit zone, a red stop loss zone and the entry line. The first plan starts at the current price, with the stop loss at 0.25 and the take profit at 0.5 times the daily ATR (14).
- Drag the far edge of a zone to move the take profit or stop loss. Drag the take profit past the entry to switch between buy and sell.
- Drag the entry line away from the price to plan a limit or stop order. Use market on the panel puts it back on the current price.
- Labels show the pips, the profit or loss in money for the lot size, and the risk/reward ratio.
Panel
- The lot size in large type, the order type and the loss at the stop loss in money and as a % of the account.
- Buy and Sell, the risk with - and + buttons or typed in, and % or your account currency.
- One button: Buy at market, Place buy limit, Place buy stop (and the same for sell). It turns grey with the reason underneath when the order cannot be sent: stop loss too close, not enough free margin, the minimum lot is over the risk, or Algo Trading is off.
- Drag the header to move the panel. Hide removes the zones from the chart.
Orders
- Market orders are sent with the stop loss and take profit. If the broker does not accept them on entry, they are added right after, and the position is closed if the stop loss cannot be set.
- Limit and stop orders are placed with the stop loss and take profit.
- Orders use magic number 0, the same as manual trades. The tool does not manage a trade after it is placed.
Notes
- Put it in the Experts folder and attach it to a chart. Algo Trading must be on to place orders; the calculator works without it.
- One Expert Advisor per chart. Expert Advisors do not run in the MetaTrader mobile apps.
- On an MT5 netting account it does not place an order while that symbol already has a position.
- A trading tool, not financial advice.
Common questions
Which platforms and brokers do your indicators work with?
MetaTrader indicators come with both the MT4 and the MT5 version in one download. TradingView scripts run on TradingView. Each product page lists its platforms.
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