This is from a post I made in this thread a weeks ago "Here are some very useful scripts to calculate account percentage to risk on each trade.Dondbaze wrote: ↑Sat Mar 13, 2021 8:37 amHello guys.. Please I would like to ask something.. I have been trading currency since I started learning forex and I have come to understand risk management with it.. I have been having issues migrating to indices. I'm not exactly sure how to calculate risk.. And what lots sizes to use.. It's quite easy on currency as there are calculators to quickly tell you. Do anyone know any such calculator for indices to calculate risk? Thanks
Copy them to your scripts folder and restart MT4. Go to scripts in the navigator and right-click to select Set Hot Keys. I suggest setting Open Short to CTRL Z, Open Long to CTRL C and Prepare stops to CTRL X. Then to place a trade press CTRL X, 2 pink lines will appear on your chart, double click to move them to where you want SL and TP. Then either CTRL Z for a short trade or CTRL C for a long trade, you will get the option to change risk percentages etc. The script will calculate the lot size based on your risk percentage, stop-loss and open the position.
If you wish to place a pending order start by pressing CTRL X twice (3 times will cancel it) a dashed Magents line will appear, move it to where you want the order to enter. Either limit or on stop does not matter it will work it out. Set stops as above and place long or short order."
I have modified the defaults to work with Indicies.