ArgoLotCalculator: free utility for visual money management

ArgoLotCalculator is a very intuitive and easy-to-handle tool that helps you to do the money management in your trading.

There are two (by far) the most widely used money management schemes in trading.  In the first scheme, all trades are opened with the same volume. In this case, the trader needs to know which profit (loss) will occur if the takeprofit (stoploss) level of the trade is hit. We call this the “Fixed Lot” scheme. In the second scheme (“Fixed Fraction”), the trader prescribes the risk that should be taken in the trade (that is, the loss in the case of hitting stoploss) and calculates the volume of the trade accordingly. Still, the trader needs to know what the profit of this trade will be. ArgoLotCalculator is designed to provide you with all necessary information for these two money management schemes.

ArgoLotCalculator has a button, an  information window, and three horizontal lines.

Capture

The blue line represents the open price of your (would-be) order, the orange line is the take-profit, the pink line is the stop-loss. You can pick up the lines by your mouse and drag them to any position).

When the money management scheme is Fixed Fraction (LotMode = FixedFraction in the settings), the information window of ArgoLotCalculator shows you the required lot size of your order calculated for the stop-loss you selected with the lines on the screen. More specifically, in information window you see: the money management scheme (Fixed Fraction), the desired risk set up in the settings (1% of the balance per trade), the total balance of your account (you can set up a “custom” balance in the settings), the calculated value of the lot size, the take-profit and the stop-loss as set up by the lines, in points, in units of the deposit currency, and in % of the balance. Move the lines and observe how the values are changing.

The second money management scheme is switched on by setting LotMode = FixedLot. The information window now looks differently:

Capture2

The window shows: the money management scheme (Fixed Lot), the lot size (selected in the settings),  the take-profit and the stop-loss as set up by the lines, in points, in units of the deposit currency, and in % of the balance.

That is basically all! If we do not need all this at the moment, the information window and the lines can be minimized by pressing the button.

Capture3

In this way, the tool does not clutter our screen and can simply wait for the next time we will need it. To restore the window and the lines, it is sufficient to press the button once more. The position of the information window (and the button) can be adjusted in the settings. For example, like this

AAv2_2

Or, like this

AAv2_1

ArgoLotCalculator is designed as an indicator (not Expert Advisor). This means that it does not block the chart and can be combined with any other Expert Advisor on the same chart. (As you know, only one EA can be attached to a chart, so if we make ArgoLotCalculator an EA, so no other EA could be attached to the chart.)

Here is some additional information about ArgoLotCalculator.

Installation

Just put ArgoLotCalculator into the Indicators folder of your MT terminal. If you do not know where to find it (or have doubts), read this.

Settings

LotMode – selection of the money management scheme (FixedFraction , FixedLot).

LotSize – lot size (in the FixedLot scheme).

LotPerCent – risk (in the FixedFraction scheme), in % of the account balance.

CustomAccountBalance – custom account balance. If not 0, then this value will be used instead of your actual account balance.

colTP – color of the takeprofit line.

colPrice – color of the order open price line.

colSL – color of the stop-loss line.

comment_color – color of the text in the information window.

Corner – corner of the information window.

XCoordinate – x coordinate of the the information window.

YCoordinate – y coordinate of the the information window.

AAL3

 

Download ArgoLotCalculator:


Good luck and happy trading,

Your ArgoLab team

Также читайте

Tagged with: , ,
Posted in Content, Indicators

Форекс рейтинг . Форекс каталог