This indicator calculates the lot size based on the balance percent risked per trade. It takes into account the commission paid to the broker.

Input Parameters

• StopLossPips: the stoploss in pips of the trade.
• RiskPerTrade: the balance percent risked. (0.01 means 1%, 0.25 means 25% and so on…)
• RoundTurnCommissionPerLotPips: the commission charged by the broker expressed in pips.
• TextPosition: indicates the vertical line at which the results are printed. It is used to prevent text overlapping when multiple indicators print at the same line.

Screenshots

Code

using System;
using cAlgo.API;
using cAlgo.API.Internals;
using cAlgo.API.Indicators;
using cAlgo.Indicators;

namespace cAlgo
{
    [Indicator(IsOverlay = true, TimeZone = TimeZones.UTC, AccessRights = AccessRights.None)]
    public class LotCalculator : Indicator
    {
        [Parameter(DefaultValue = 10, MinValue = 0)]
        public double StopLossPips { get; set; }

        [Parameter(DefaultValue = 0.01, MinValue = 0, MaxValue = 1)]
        public double RiskPerTrade { get; set; }

        //RoundTurnCommissionPerLot
        [Parameter(DefaultValue = 0.7, MinValue = 0)]
        public double RoundTurnCommissionPerLotPips { get; set; }

        [Parameter(DefaultValue = 0, MinValue = 0)]
        public int TextPosition { get; set; }

        private string line;

        protected override void Initialize()
        {
            line = "";

            for (int i = 0; i < TextPosition; i++)
                line += "\n";
        }

        public override void Calculate(int index)
        {
            double lots = (Account.Balance * RiskPerTrade) / (StopLossPips + RoundTurnCommissionPerLotPips) / Symbol.PipValue / 100000;
            Chart.DrawStaticText("lots", line + "Lots: " + lots.ToString("0.00"), VerticalAlignment.Top, HorizontalAlignment.Right, Color.White);
        }

    }
}