Forex Risk Calculator Indicator Free Download

Forex Risk Calculator MetaTrader Indicator — calculates risk in the form of maximum potential losses due to current open positions and active pending market orders. The results show the capital and percentage risk as well as the total risk for each mt4 currency pair in a separate mt4 chart window. You can also adjust the working of the Risk Calculator indicator by turning on or off spread, swap and commission calculations. You can also adjust visual display settings parameters. Additionally, it can calculate the maximum potential reward. Additionally, you can calculate risk/reward separately for open positions and pending orders. Forex indicators are available for Forex MT4 and MT5. Unlike the risk calculation program implemented as the Position Sizer indicator module, this Forex indicator will calculate the correct risk value even in very complex situations involving market hedging transactions, pending orders with crossing Stop Loss (SL) and Take Profit levels, or even special Stop Limit orders for Forex MT5. The algorithm implements a brute force maximum loss search using some heuristic techniques to speed up the process. Therefore, Forex traders will get a quick calculation of the average number of orders (up to about 20). Nonetheless, as the number of transactions increases, the transaction execution speed becomes unsatisfactory. Nonetheless, the Risk Calculator indicator is a valuable tool for assessing worst-case scenario risk when dealing with complex order combinations.

Input parameters:

Main

• CalculateSpreads (main default = true) — if true , potential losses due to spreads will form part of the maximum potential loss.
• CalculateSwaps (main default = false) — If true , accrued swaps will be part of the maximum potential loss.
• CommissionPerLot (main default = 0) — Commission per lot charged by your broker in mt4 account currency. Enter the price value to be charged on one side of the entry trade (not the round).
• Use equity instead of balance (main default = false) — If true , use account equity instead of balance in calculations.
• Separate pending open calculation (main default = false) — if true , it will calculate risk and reward separately for open trades and pending orders.

Fonts

• cpFontColor (main default = clrAzure ) — font color of currency pair names.
• mnFontColor (main default = clrPaleGoldenrod ) — font color for currency form risks.
• pcFontColor (main default = clrLimeGreen ) — font color for percentage risk.
• hdFontColor (main default = clrBlue ) — The font color of the title.
• FontFace (primary default = "Courier") — The font for displaying text.
• FontSize (main default = 8) — The font size for displayed text.

Spacing

• scaleY (main default = 15) — Number of pixels per output line.
• offsetX (main default = 20) — Horizontal offset of the output.
• offsetY (main default = 20) — Vertical offset of the output.

Reward

• CalculateReward (main default = false) — If true , the maximum potential reward will be calculated and displayed.

Screenshots

Multiple market orders and one position example (limited risk of loss)

Example of an unprotected buy entry position (almost unlimited risk of loss)

Unprotected Sell Entry Position Example (Unlimited Loss Risk)

Reward Calculation Example

Examples of separate calculations for positions and market orders

Known problems

Although the Forex Risk Calculator has been designed, coded, and tested to work in a variety of scenarios, there are limitations, limitations, and potential errors. Here is a simple list of known issues with this Forex indicator:

• When the MT4 account currency is different from the quote currency of the MT4 currency pair where the market order is placed, when calculating risk, the results may be inaccurate due to unpredictable exchange rate fluctuations. For example, if your MT4 account is in Japanese Yen and you are trading the EUR/USD currency pair, the actual risk may also depend on future exchange rates for the USD/JPY currency pair. The Risk Calculator indicator does not attempt to predict it.
• If a trader creates too many pending orders with Stop Loss (SL) and Take Profit (TP) levels, the Forex indicator's calculations may become too slow or even stop functioning.
• If your Forex broker offers variable spreads, the calculation will not be accurate as the indicator assumes a constant spread for each tick.
• This indicator does not take into account price slippage on pending order executions.
• Forex indicators ignore insufficient margin for order execution. If you place a pending order that requires more available margin than your trading account can provide, the Risk Calculator indicator will still consider the likelihood of the order being executed.
• Forex indicators do not take into account correlations between different currency pairs. The risk value is calculated individually for each trading instrument. For example, if you buy the EUR/USD pair and sell the GBP/USD pair as a hedge, the Forex indicator will calculate the risk for each open position separately.
• Forex indicators do not take into account triangular arbitrage and other forms of arbitrage on multiple currency pairs. For example, if you are long EUR/USD, long USD/JPY, and short EUR/JPY, the risk calculator will treat these positions as three separate trades, subject to risk.

Forex Risk Calculator Indicator Free Download

The risk calculator is also developed through a dedicated GitHub repository. You can participate in its development by submitting code modifications through pull requests and viewing existing suggestions, changes, and more.

Risk Calculator for MetaTrader 4

MetaTrader 5 Risk Calculator

Discussion

Do you have any suggestions for this indicator? You can always discuss the Risk Calculator with other traders and MQL programmers on the indicator forum.