Visual Trade Planning with ATR Spacing and Risk-Based Position Sizing

Summary

This article describes an MQL5 chart tool for planning, but not placing, trades. Traders select among market, limit, and stop orders for either direction, then adjust Entry, Stop-Loss, and Take-Profit lines directly on the chart. Initial spacing uses Average True Range (ATR), while market entries follow the relevant live quote. The tool checks whether the levels form a valid buy or sell setup.

As prices or ticks change, the dashboard estimates stop and target distances, monetary risk from a chosen percentage of account balance, position size using tick values and symbol volume constraints, potential reward, and the risk-to-reward ratio. The article lays out the implementation in stages and describes the expected behavior of the resulting EA. It is a planning aid: estimates depend on the selected levels and instrument specifications, and the tool does not execute or manage orders. No performance study or evidence of profitable outcomes is presented.

Key ideas

• ATR provides initial spacing for Entry, Stop-Loss, and Take-Profit levels.
• Chart lines let traders adjust a plan across six market, limit, and stop order scenarios.
• The tool validates the relative placement of entry, stop, and target for buy and sell plans.
• Position size is estimated from account risk, stop distance, tick values, and symbol volume rules.
• The tool displays planning metrics but does not open, modify, or close trades.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.