Free position size calculator indicator for MT4 and MT5 (Tiltnote Toolkit)

Yes. No sign-up and no email address. There is nothing to pay later.

No. This indicator contains no order commands, and indicators cannot place orders in MetaTrader. It gives no buy or sell signals either. The BUY and SELL buttons on the panel only choose the direction of the calculation; they are not order buttons.

No. The MT4 and MT5 apps for phones and tablets can’t load custom indicators. Use it in MT4 or MT5 on a computer.

The math uses values your broker sets: the contract size (1 lot), the value of a pip, leverage and margin rules, the server time and the spread. These vary by broker and account type, so the same inputs can give different answers.

The source (.mq5/.mq4) is under the MIT License (a permissive open-source license). You can read it, change it and share it, even commercially, as long as you keep the copyright notice and license text in the file. It comes with no warranty. Open it to check for yourself that there are no commands that place orders. You may see names starting with “Order” (such as OrderCalcProfit and OrderCalcMargin). They only calculate profit or margin, or read your history. They place no orders. If you change it, compile it (turn the source into a usable file) in MetaEditor.

The .ex5/.ex4 files run only inside MetaTrader. They are not programs you install on Windows (.exe). They are compiled from the .mq5/.mq4 source on this page. If you prefer, download the source and compile it yourself in MetaEditor (press F7). You can also compare the SHA-256 checksums in the download section with your downloaded files. It runs with “Allow DLL imports” switched off.

No. It uses no DLLs and no WebRequest, so the indicator itself sends nothing over the internet.

Yes. The “At stop: about …” amount assumes your stop fills exactly at its price. In real trading, a stop can fill at a worse price (slippage, or a gap over the weekend or around big news). The spread and commissions apply. The conversion rate into your account currency can change. So the loss can be larger than the amount you set. On the other hand, lots are rounded down to the volume step, so the calculated loss is usually a little below your amount. Check your platform’s order window before you trade.

If you set risk as a fixed amount, the [−] and [+] are not shown and the panel shows “Risk … (fixed amount in settings)”. A second copy on the same chart does nothing. While it runs, it temporarily changes the chart’s “Chart on foreground” setting, and mouse scrolling while you drag, so the panel stays readable, and restores them when you remove it. In MT4 it can only read the range loaded in the Account History tab; if that is too short, choose “All History”.

The custom hour is fixed to Japan time (UTC+9); it cannot be set to another time zone. 5 p.m. New York time is 7 a.m. in Japan (6 a.m. during US daylight saving time), which is 22:00 UTC (21:00 UTC during US daylight saving time); the switch is handled automatically.