OPEN-SOURCE SCRIPT
Updated Easy Scalping Lot Calculator for Forex
The calculator was created to make it easier to calculate the lot size on Forex. I planned to use it for the following pairs: AUDCAD, AUDCHF, AUDJPY, AUDUSD, EURAUD, EURCAD, EURCHF, EURGBP, EURJPY, EURNZD, EURUSD, GBPCHF, GBPJPY, GBPUSD, NZDUSD, USDCAD, USDCHF, USDJPY, XAUUSD.
The indicator is a table that shows the calculation of the lot for a predetermined stop loss.
For example, you are planning a trade, have calculated a stop loss of 15 points, and by checking the table you understand approximately what lot you need to use to limit your risk.
In the settings you can change the risk and also determine the stop loss value in points.
The calculator does not take into account the spread in the calculations.
There are websites where you can accurately calculate the lot, but if you trade on small time frames this is not suitable for you.
The calculator uses the formula:
Lot size = maximum risk / stop loss (in pips) / minimum pip value x minimum trading lot.
The indicator is a table that shows the calculation of the lot for a predetermined stop loss.
For example, you are planning a trade, have calculated a stop loss of 15 points, and by checking the table you understand approximately what lot you need to use to limit your risk.
In the settings you can change the risk and also determine the stop loss value in points.
The calculator does not take into account the spread in the calculations.
There are websites where you can accurately calculate the lot, but if you trade on small time frames this is not suitable for you.
The calculator uses the formula:
Lot size = maximum risk / stop loss (in pips) / minimum pip value x minimum trading lot.
Release Notes
Corrected calculation errors.Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.