Is there any possible indicator that could calculate the lot size ?

Question

Rogelio · Accepted Answer

I created this Pine Script tool to calculate lot sizes with precision. While there are many lot size calculators available on TradingView, I found that most had significant flaws. I started teaching myself Pine Script over three and a half years ago with the sole purpose of building this tool. My first version was messy and lacked accuracy, so I never published it. I wanted it to be better than any other available tool, but my limited knowledge back then held me back.Recently, I received a request to create a similar tool, as the current options still fail to deliver the precision and reliability traders need. This inspired me to revisit my original idea. With improved skills and a better understanding of Pine Script, I redesigned the tool from scratch, making it as precise, reliable, and efficient as possible.This tool features built-in error detection to minimize mistakes and ensure accuracy in lot size calculations. I've spent more time on this project than on any other, focusing on delivering a solution that stands out on TradingView. While I plan to add more features based on user feedback, the current version is already a powerful, dependable, and easy-to-use tool for traders who value precision and efficiency in their lot size calculations.How to use the tool ?At first it might seem complicated, but it is quite easy to use the tool. There are two modes: auto and manual. By default, the tool is set on manual mode. When you apply the tool on the chart, it will ask you to choose the entry price, then the stop-loss price, and at last the take-profit price. Select all of them one by one. These values can be changed later.SettingsThere are various setting given for making the tool as flexible as possible. Here is the explanation for some of most important settings. Play with them and make yourself comfortable.General settingsAuto mode : Use this mode if you want the the risk reward to be fixed and stop loss to be based on ATR. However the stop loss can be changed to be based on user input.Manual mode : Use this mode if you want full control over entry, stop loss and take profit.Contract Size : The tool works perfectly for all forex pairs including gold and silver but as the contract size is different for different assets it is difficult to add every single asset into the script manually so i have provided this option. In case you want to calculate lot size for a asset other then forex, gold or silver make sure to change this. Contract size = Quantity of the asset in 1 standard lot.Account settingsAutomatic mode settings and ATR stop settingsManual mode settingsTable and risk-reward box settings are pretty much self-explanatory I guess.Error handlingA lot size calculator is a complex program. There are numerous points where it may fail and produce incorrect results. To make it robust and accurate, these issues must be addressed and managed properly, which practically all existing lot size calculator scripts fail to do.Golden tipWhen the symbol is changed it will display a symbol change warning as the entry, stop loss and take profit price won't change.There are 2 ways to get fix this. Either manually enter all three values which i hate the most or remove the script from the chart and re-apply the script on chart again.So to re-apply the indicator in most easy way follow the following instructions:Note : If you encounter any other error then read the instruction to fix it and if it is an unknow error pleas report it to me in comments or DM.Feb 18Release NotesSome minor bug fixesTable layout enhancedDaily ATR : Daily ATR tells that on average how much a pair moves in a day. We can get an idea about how much we can expect market to move in a day and set the target accordingly. e.g. if daily ATR is 100 pips that means the a target of 60 to 80 pips is ok. However it can be more or less according to your plan but if you are expecting the price to move 200 pips in a day that might be unrealistic.Chart ATR : This tells you the average movement on current timeframe. This gives you an idea about how much price movement can you on current timeframe, given that there is no news at the moment because during news the volatility increases significantly and price can move more then average.Timeframe - ATR ( Multiplier) : This tells you a custom value which can be help full in stoploss placement. This can be configured from settings.

Beon · Answer

Yes, there are highly automated tools and custom indicators designed specifically to calculate lot size instantly. While standard technical indicators (like the RSI or MACD) only track price momentum, specialized Position Size Calculator indicators automate the position sizing formula directly on your charting platform.Top Tools and Indicators to Automatically Calculate Lot Size1. Platform-Specific Position Sizing IndicatorsMetaTrader 4 / MetaTrader 5 (MT4/MT5): Search for the free "Magic Keys" software or the popular "Position Size Calculator" (PSC) indicator in the MQL5 Marketplace. These overlay a control panel directly on your screen. You drag your Entry, Stop Loss, and Take Profit lines, input your desired account risk percentage (e.g., 1%), and the indicator outputs the exact lot size in real-time.TradingView: Use built-in or community-created Pine Scripts. Search the Indicators tab for scripts named "Position Size Calculator" or "Risk Manager". Additionally, TradingView's native Long Position and Short Position drawing tools automatically display the required account risk metrics and quantities based on your account settings.cTrader: Features a built-in, native advanced order ticket. It displays exact cash risk, percentage risk, and required lot sizes dynamically as you modify your stop-loss parameters before submitting the trade.2. Digital Lot Size CalculatorsIf you use a charting interface that lacks custom scripting, web-based tools handle the math seamlessly:Myfxbook Position Size Calculator: The industry standard tool for Forex traders. You input your account currency, account size, risk ratio, and stop loss in pips to instantly receive your required lot sizing.BabyPips Position Size Calculator: A highly intuitive web tool tailored for beginners to calculate micro, mini, and standard lots quickly.How These Indicators Perform the Calculation Behind the ScenesThe indicator runs a continuous mathematical calculation using the formula below:Lot Size = (Account Balance x Risk Percentage) / (Stop Loss Distance x Pip or Tick Value)Step 1: Establish Capital at RiskThe tool reads your account equity and applies your set risk boundary.Example: $10,000 account balance  1% risk limit = $100 maximum risk.Step 2: Extract Volatility or Structural Technical DistanceThe tool determines the price space between your entry trigger and stop-loss placement.Example: Entry at 1.1000 with a stop loss at 1.0950 = 50 pips distance.Step 3: Compute the Lot SizeThe indicator divides your absolute dollar risk by your technical risk distance, adjusting for the asset's specific contract size.Example: $100 Risk / (50 Pips x $10 Dollar per pip ( for standard Lot)) = 0.2 Lots✅ Summary of Automated Lot SizingAutomated lot size indicators eliminate manual calculation delays, prevent human math errors during high-stress market moves, and ensure strict risk management consistency across varying asset classes.

Is there any possible indicator that could calculate the lot size ?

2 Answers

2 Answers

Is there any possible indicator that could calculate the lot size ?

2 Answers

2 Answers

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