OPEN-SOURCE SCRIPT

NCI - Lot size (Forex)

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Description:

The "NCI - Lot Size (Forex)" is a comprehensive tool designed for Forex traders to optimise their risk management strategies. This indicator dynamically calculates and displays the ideal lot size for your trades based on real-time currency conversion rates and your predefined risk parameters.

Key Features:

1. Real-Time Data Integration:Leverages current Forex market data from OANDA for major currency pairs, including USDJPY, USDCHF, AUDUSD, GBPUSD, NZDUSD, USDCAD, and EURUSD, ensuring accurate lot size calculations.

2. Customizable Account Balances: Set up to five different account balances to simulate various trading scenarios.

3. Adjustable Risk Management: Define your risk tolerance with a customizable risk percentage, allowing you to align the lot size calculations with your individual trading strategy.

4. Stoploss Adjustment: Input your desired stop loss in pips, which directly influences the calculated lot size, ensuring that your trades stay within your risk parameters.

5. Currency-Specific Adjustments: The script automatically adjusts the lot size based on the currency pair being traded, accounting for differences in currency values and volatility.

6. Intuitive Display: A clear and concise table is displayed on your chart, presenting the calculated lot sizes for each account balance and risk setting, alongside your specified stop loss.

7. User-Friendly Interface: Easy-to-use inputs make setting up the indicator a breeze, allowing both novice and experienced traders to make the most of this tool.

How to Use:

- Set your account balances (up to five different accounts).
- Define your risk percentage.
- Input your stop loss in pips.
- The table will dynamically show the ideal lot size for each account based on the current Forex market data and your settings.

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Please Note: Trading in Forex involves significant risk and may not be suitable for all investors. The use of this indicator does not guarantee profits and should be used as part of a comprehensive trading strategy.
Phát hành các Ghi chú
Update:
1) Options to choose the size of the table
2) Options to show or hide account column
Phát hành các Ghi chú
Update:
- Added "note" under the SL pips calculator
educational

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