Pip Value Indicator / Lot Size Indicator

[djhenry1981]

Hi All,

I'm looking for an indicator that displays the a series of pip values (5 - 20) and their corresponding lot sizes so that I can easily determine lots sizes based on fixed risk or % risk.

EG. Risked amount is $100 (a variable) or 1%
[table 80 2]L=Pips& lot
L=5& 0.50
L=6& 0.49
L=7& 0.47
L=...&...
L=20& 0.12[/table]


When day trading I need to be able to quickly and accurately determine pip/risk value to ensure I'm not over or under risking. Obviously the pip values for GBP/AUD verses AUD/USD differ greatly.

Does anyone have something like this?

[slipshod]

This is based on something I found a couple of years ago on the 'net, and have embellished quite a lot since. Fill out the values in the options, then move the 3 lines (green is entry, red is SL, blue is TP) and it'll show you the lotsize to trade & the dollar values on SL and TP.

It'll also work while manually backtesting - make the Defined Balance option true and it'll add a textbox containing a value of $10000. It'll base the lotsize & dollar amounts of whatever value's in this field, which you can adjust whenever you want.

Lastly, it seems to work reliably for me though I did have bugs with it on Yen pairs early on which I think I resolved properly. I don't know if it works with XAU or XAG. I'm making it available here because of djhenry's request, but I don't intend to offer ongoing support for this indicator - please don't send me PMs about it if there's problems or you have ideas for extending its functionality.

[thomasmore]

Hello,
This is not an indicator, but I hope it helps.
Best regards,
Ludo

http://www.alpari.co.uk/research-tools/calculators