Currency Meter - MetaTrader 5 Script | Grid EA Download - MT4/MT5 Resources - MetaTrader 5 Resources

This indicator measures currency on a chart.

Traditional MetaTrader charts are usually measured in pips, so when you need to evaluate a position in lots (or lots), it's difficult to quickly convert this into currency.

However, this is not always convenient. Additionally, traders often set lot sizes based on rules of thumb rather than applying specific numbers. Sometimes, they don't even calculate the risk of applying volume.

This indicator shows cost levels above and below the selected zero level.

This is the amount of money that will be lost or added to your account if you open a position with a specified lot size from zero level.

By default, the indicator starts calculation from the current price, but if you enter a price in the Zero_price parameter, it will start calculation from that price.

Select the lot_size working lot for the future position and set the grid step in money grid_step_value. This indicator shows the level at which a position achieves appropriate profit or loss (excluding swaps and commissions). This means that each grid level adds or subtracts the specified grid_step_value to a position. Each level has symbols, so it clearly shows how much you can lose or earn if the price reaches the appropriate level.

For some brokers with non-standard contracts. For example, one well-known broker set a point price that was 100,000 times higher than it should have been. Therefore, you need to specify this number as the divisor of the lot_divider volume in order to correct the calculation.

By default, the indicator calculates the profit/loss of a position with a specified trading volume, and the progression allows estimating the amount of profit/loss. The successive addition of each grid level helps to quickly assess the overall retracement depth of a series of average positions or the total profit of a pyramid.

This indicator does not provide any signals. A quick risk assessment is required before opening a position.

You can use another indicator: smart calculator.

Attachment download

📎 money-meter.mq5 (8.4 KB)

Source: MQL5 #22071