Position Sizer EA for Metatrader

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Metatrader is arguably the most used trading platform for retail traders.

The problem with Metatrader is that there is not really a good way to plan out trades including a position size that makes sure you risk the exact amount you want according to your trading plan.

One solution

One way to ensure you risk exactly the amount you want is to use an online position size calculator. For instance, this one that I share for free on my website.

This works but requires some effort and time. It is a slow method and it can lead to mistakes.

A better solution

A better solution is to have the calculation done automatically in Metatrader. Luckily, Metatrader can be easily extended using Expert Advisors.

Position Sizer expert advisor for MT4 and MT5

Position Sizer EA in Metatrader

The Position Sizer automatically calculates the number of lots to trade based on:

  • your risk tolerance
  • account size,
  • currency,
  • currency pair
  • Commission
  • and other settings.

It is a feature-rich expert advisor designed to work with all kinds of instruments and help with everything related to position sizing – margin, potential portfolio risk & profit, swaps, and so on.

The Position Sizer EA can be used to open trades based on the calculations it does in the Main tab of its panel.

MT4 and MT5

The EA is available for:

  • Metatrader 4
  • Metatrader 5

Position Sizer EA on Metatrader 4

…

Position Sizer EA on Metatrader 5

Get it now and give your trade execution a boost!

Zip file

Files included in the zip file:

.

├── LICENSE

├── MQL4

│   ├── Experts

│   │   └── Position Sizer

│   │   ├── Defines.mqh

│   │   ├── Position Sizer.mq4

│   │   ├── Position Sizer.mqh

│   │   └── Position Sizer Trading.mqh

│   └── templates

│   └── position-sizer.tpl

├── MQL5

│   ├── Experts

│   │   └── Position Sizer

│   │   ├── Defines.mqh

│   │   ├── errordescription.mqh

│   │   ├── Position Sizer.mq5

│   │   ├── Position Sizer.mqh

│   │   └── Position Sizer Trading.mqh

│   └── Profiles

│   └── Templates

│   └── position-sizer.tpl

└── README.md

Installation

  1. Install the EA by simply dropping the 'Position Sizer' folder in the 'Experts' folder in the MQL4 or MQL5 folder.
  2. Open the MetaEditor
  3. In the MetaEditor open the Position Sizer.mq4 or Position Sizer.mq5 file
  4. Compile the file by clicking the compile button.
  5. Open Metatrader
  6. Apply the position-sizer.tpl template to a chart or just add the position-sizer EA to the chart you want.
  7. Enable 'automated trading' (MT4) or allow 'algo trading' (MT5)

Installation video: https://youtu.be/ckRuhjwiON4

This EA is also available on my Github: https://github.com/davetromp/PositionSizer

Download here