ATR based Stop and Take-Profit levels in realtime Little tool to quickly identify stops and take-profit levels based on Average True Range. User can change ATR multipiers, as well as the ATR length used. Green and red lines show these levels; plot is visible over last 8 bars only to reduce clutter. Label showing the current ATR, up above the last bar
Riskreward
Custom position sizerThis is a simple script to aid with determining position size.
Inputs are the intended entry price, desired risk (expressed as % of account at risk), account value, and leverage factor.
To use the script;
1. Identify and update the entry price (yellow line on the chart)
2. Update with desired risk
3. Update with account size
4. Adjust the leverage value until the stop loss (red line on chart for long positions, green line for short positions) reaches the desired value/location on the chart
The label will then update to show the required position size for the trade.
Risk/Reward (InfoPanel)Hello ladies (if any in my followers ?) and gentlemen
Here's your indicator of the day and once again given for FREE. What I'm going to say to my landlord if I can't pay rent because I'm not asking for $$ ?
I'll probably send the next indicators from below the town brige. Even then... I will still comply with my challenge to share 1 original indicator a day and not a copy of what already exists
The today indicator is to show you the great possibilites behind the TradingView Label object : Label
Profit And Loss LABEL
I thought about that one for a while and wanted to share how we can calculate dynamically a Risk to Reward ratio .
This indicator is not based on the price on the chart. I repeat before getting the question asked me privately 10 times This indicator is not based on the price on the chart.
"Then it's not useful dude, you're dumb". I agree and.... I agree... BUT you can now calculate your Risk to Reward ratio on TradingView directly rather than using an external Excel file. Who's dumb now :) ?
For those curious about it, I used this formula for the R:R ratio formula Calculating-risk-reward.asp
It will also display the Profit and Loss data based on your inputs only
ERRORS LABEL
I also added some basic errors management. If any error occur when you'll type your inputs, then a very mean Error label will appear and you'll have to fix the issues in less than a few seconds.
Otherwise your computer will explode (KABOOOOM) and your trading capital will be redirected to my own insurance fund (I have a family to feed, thanks for your sacrifices)
(end of joke)
In more seriousness, the engine will check if the TP1/TP2/Stop Loss/Entry price combinaisons makes sense. If not, you''ll be punished with an error label.
You can use this methodology for your own indicators in the futur to display dynamic messages based on users' inputs and/or current price on the chart
The educational video giving more details is coming right up.
You can watch it and should be located under "IDEAS"
Wshing you all a very fruitful end of your day and see you tomorrow for the last indicator of the week (baby David is tired and need his rest)
Dave
2R overlay positive biasHere is a pretty clean 2R - risk reward assessment that is overlaid on the price action. Positive bias, kind of lazy on the release but you can edit to change look back period or drop into one of your indicator edits as another metric for trade risk. If this helps drop a comment or thumbs up.
-Squam
