PROTECTED SOURCE SCRIPT
Trade Manager Pro - Quick Position Sizing
Updated
This script allows the user to select directly on the chart the entry time/candle for a trade, its entry price, stop loss price and take profit price, and will quickly calculate the position size for the trade.
Some of the parameters that can be established by the trader in the indicator settings include the following:
-Account Size
-Leverage Multiple
-Risk % per trade
-% Trading Fee
A table with the outputs will be shown to the right of the chart, showing the following information:
-Margin used for the trade
-Leverage
-Total position size (Margin*Leverage)
-Position Type (Long or Short)
-Trading Fee $
-Stop Loss %
-Stop Loss $
-Take Profit %
-Take Profit $
-Risk/Reward Ratio
Note on its usage: When changing timeframes or tickers its better to exit the indicator and add it again to the chart, since TV doesnt reset its input functions when changing these.
Happy trading!!
Some of the parameters that can be established by the trader in the indicator settings include the following:
-Account Size
-Leverage Multiple
-Risk % per trade
-% Trading Fee
A table with the outputs will be shown to the right of the chart, showing the following information:
-Margin used for the trade
-Leverage
-Total position size (Margin*Leverage)
-Position Type (Long or Short)
-Trading Fee $
-Stop Loss %
-Stop Loss $
-Take Profit %
-Take Profit $
-Risk/Reward Ratio
Note on its usage: When changing timeframes or tickers its better to exit the indicator and add it again to the chart, since TV doesnt reset its input functions when changing these.
Happy trading!!
Release Notes
Updates in V2:-Improved Long/Short Position Box, which now shows when a position is active and highlights whether the trade is winning or loosing. Once TP or SL is reached the box plot ends.
-Changed $ profit and loss to factor in trading fees, position sizing now takes them into account.
-Added the option to include % order slippage in case there's a slight difference between order placement and execution (default is 0%).
Release Notes
Fixed Takeprofit formula (Thanks Gonzalo_Bouzas for noting it!)Release Notes
*Updated chartRelease Notes
-R/R is now calculated using NetProfit/NetLoss (previously fees weren´t included in the R calculation which could be misleading depending on the fee size)-Added transparency options for highlighted and regular box colours.
Release Notes
Reduced the number of input steps: Now the entry time & price are placed simultaneously, making the setup quicker :)Release Notes
New Feature:Added on screen R Multiples!
@FractalTrade_
Disclaimer
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