OPEN-SOURCE SCRIPT
Risk Management GO8686: Stop Loss, Position Size & Target
Full Name: Risk Management GO8686: Stop Loss, Position Size & Target
What this indicator provides:
A dashboard to calculate Stop Loss, Position Size and Target, where users can customize Risk Management parameters in the setting.
Position Size: calculated from "initialCapital", "Leverage", "Max Loss", "feeMaker", "feeTaker".
Stop Loss Price: using pivots, default length is set to 3, with an extra ATR value controlled by "'Multiplier OF Extra ATR".
Target: calculated from entry price, risk reward, distance between entry and stop loss, fees
What the indicator does Not provides:
entries of positions: The Long/Short entries displayed are just MACD signal crossing zero, users can apply their own entry logic, by modifying ready2L / ready2S variables.
What the indicator does Not guarantee:
the integrity, timeliness, accuracy, and comprehensiveness of the data, calculation method, calculation results, etc.
Two types labels:
1. Automated labels: they are displayed when MACD signal crossing zero, use "Display History Labels" to toggle display or not.
2. Setup Manually label: located at the right side of the latest bar, to display results when users setup manually
The settings of the indicator:
"Toggle to Reload",
"InitialCapital", "Leverage", "Max Loss % per trade", "feeMaker", "feeTaker",
4 length inputs for Pivot, "Multiplier of Extra ATR for stop loss",
"Toggle To setup manually", "Toggle between Long / Short", "Entry Price, set manually", "Stop Loss Price, set manually", "Risk-Reward Ratio"
"Display History Labels"
---------- Disclaimer ----------
Before using or requesting access to the indicator, customers/users acknowledge that they have read and accepted that the indicator, any associated contents on all social medias and any communication with the indicator author, including but not limited to: product and service details, signals, alerts, data, calculation methods, calculation results, user manual, tutorials, ideas, videos, chats, messages, emails, blogs, tweets, etc. are provided solely for educational purpose and Not as financial advice. Customers/users understand and agree to use the aforementioned indicator and information at their own risk.
---------- Updates ----------
The latest updates override the previous content.
To activate a update, if it does not load as expected: close the indicator, save the chart, clear browser caches, restart the browser, reload the chart and apply the indicator to the chart.
What this indicator provides:
A dashboard to calculate Stop Loss, Position Size and Target, where users can customize Risk Management parameters in the setting.
Position Size: calculated from "initialCapital", "Leverage", "Max Loss", "feeMaker", "feeTaker".
Stop Loss Price: using pivots, default length is set to 3, with an extra ATR value controlled by "'Multiplier OF Extra ATR".
Target: calculated from entry price, risk reward, distance between entry and stop loss, fees
What the indicator does Not provides:
entries of positions: The Long/Short entries displayed are just MACD signal crossing zero, users can apply their own entry logic, by modifying ready2L / ready2S variables.
What the indicator does Not guarantee:
the integrity, timeliness, accuracy, and comprehensiveness of the data, calculation method, calculation results, etc.
Two types labels:
1. Automated labels: they are displayed when MACD signal crossing zero, use "Display History Labels" to toggle display or not.
2. Setup Manually label: located at the right side of the latest bar, to display results when users setup manually
The settings of the indicator:
"Toggle to Reload",
"InitialCapital", "Leverage", "Max Loss % per trade", "feeMaker", "feeTaker",
4 length inputs for Pivot, "Multiplier of Extra ATR for stop loss",
"Toggle To setup manually", "Toggle between Long / Short", "Entry Price, set manually", "Stop Loss Price, set manually", "Risk-Reward Ratio"
"Display History Labels"
---------- Disclaimer ----------
Before using or requesting access to the indicator, customers/users acknowledge that they have read and accepted that the indicator, any associated contents on all social medias and any communication with the indicator author, including but not limited to: product and service details, signals, alerts, data, calculation methods, calculation results, user manual, tutorials, ideas, videos, chats, messages, emails, blogs, tweets, etc. are provided solely for educational purpose and Not as financial advice. Customers/users understand and agree to use the aforementioned indicator and information at their own risk.
---------- Updates ----------
The latest updates override the previous content.
To activate a update, if it does not load as expected: close the indicator, save the chart, clear browser caches, restart the browser, reload the chart and apply the indicator to the chart.
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
Message the author for a trial of the indicators.
A Trading Indicator Artisan and JAVA Programmer, dedicated to enhancing traders' productivity.
A Trading Indicator Artisan and JAVA Programmer, dedicated to enhancing traders' productivity.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.