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Money Management

The Money Management indicator for MT5 calculates the position size and risk levels of trades. It is a great tool for any trader looking to take their trading to the next level. Download free! Try now!

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Description

The Money Management indicator for MT5 is a Forex trading tool designed to help traders manage their trade positions. It assists traders in maintaining consistent risk management of their trading positions

The indicator calculates the optimal position size and risk levels for a trade, which helps traders stick to proper risk movement. Therefore, the indicator is recommended for all traders – beginners, intermediate, and advanced.

Features of Money Management Indicator for MT5

The indicator automatically calculates and displays position sizes and risk levels based on traders’ account balance, equity, or free margin. The indicator’s parameters are flexible, which enables Forex traders to define how it calculates the position sizes and risk levels. For example, traders may set the indicator to calculate trading risk based on 1% of their account balance.

Benefits of Using the Indicator

  • Enhances Better Risk Management: The indicator helps traders manage trading risk efficiently by automatically calculating the position sizes and risk levels. Maintaining consistent risk management can potentially improve profitability in the Forex market. This makes the indicator a valuable asset for financial traders.
  • Time-Saving: Finally, the indicator saves traders the time it would take to calculate the risk of every trade manually. This saves time and improves trading efficiency, making it a Forex tool for beginners and experienced traders.

Indicator Settings Description

The indicator comes with the following customizable settings:

Capital calculation mechanism: This parameter enables the indicator to calculate trade lot size based on account balance, equity, or free margin.

Risk fraction of the capital: Determines the risk fraction to calculate lot size (0.01=1%).

Stop loss points calculation mechanism: Determines how stop-loss is calculated.

ATR Length for ATR-based Stop loss: Defines the ATR period to calculate stop-loss

ATR value multiplier: Determines the value of the ATR multiplier.

Fixed size stop loss point count: Determines the value of the fixed stop loss point.

Color for parameter: Determines the color to display the indicator parameter.

Color for calculated lots: Determines the color to display the lot.

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How to Install

How install MT4/5 indicator in the terminal?

To install an MT4/5 indicator in the terminal, follow these steps:

  1. Download the indicator file (.ex4 or .mq4/.ex5 or .mq5) to your computer.

  2. Open the MT4/5 terminal and click on “File” in the top left corner.

  3. Select “Open Data Folder” from the dropdown menu.

  4. In the window that opens, double-click on the “MQL4/5” folder.

  5. Double-click on the “Indicators” folder.

  6. Drag and drop the indicator file from your computer into the “Indicators” folder.

  7. Close the data folder window and restart the MT4/5 terminal.

  8. The indicator should now be available in the “Navigator” window on the left-hand side of the terminal. Simply double-click on the indicator to add it to a chart.

Note: If the indicator is in a .zip file, you will need to extract it first before following the above steps.

And if asks to confirm DLL?

If the indicator you are installing requires access to external Dynamic Link Libraries (DLLs), you may see a pop-up message asking you to confirm the use of DLLs.

DLLs are external libraries that contain code that can be used by other programs. In the case of MT4/5 indicators, they are often used to perform complex calculations or connect to external data sources.

If you trust the source of the indicator and want to use it, click “Yes” to confirm the use of DLLs. If you are not sure or do not trust the source, click “No” to cancel the installation.

It’s worth noting that some indicators may not work properly without access to their required DLLs. If you choose not to allow access to DLLs and the indicator does not work as expected, you may need to reinstall the indicator and confirm the use of DLLs to get it to work properly.

 

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