This script allows you to calculate position size, and future profit, loses. - You can add 3 target values and 1 stop loss - Optionally you can display table, position it as you like, and see risk ratio
Plans: - add profit loss to the labels
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Added profit/loss values to the labels
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labels text color/size changes
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- added possibility to use stop-loss with percentage - added commission field
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Added shares/coins amount input option, to be able to calculate position size and amount based on this value
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Added font size option for targets
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Added risk reward value to the label
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R/R fixes
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Added 2 more target values
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Visual adjustments
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Entry label adjustments
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fixed shares calculation price if entry price is different from the close price, thx to @markmaimai for pointing
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Title: Advanced Trading Signals with Customizable Risk Management
Description:
This advanced trading signals script provides a flexible and customizable way to visualize entry, stop loss, and multiple take profit levels on your charts. With adjustable position size, commission, and percentage-based stop loss and take profit levels, this script is perfect for traders who want to plan their trades effectively.
Features:
Customizable position sizing: Enter a fixed dollar amount or shares/coins for position size. Commission input: Set the commission percentage for the trades. Entry price: Define a custom entry price or use the current closing price. Stop loss: Set a custom stop loss price or a percentage-based stop loss. Take profit: Set up to 5 custom take profit levels or use percentage-based take profit levels. Customizable text size and colors: Choose the size and color of the text for labels and lines. X-axis offset: Adjust the horizontal position of the labels and lines.
How to use:
Add the script to your chart. Adjust the position size and commission settings according to your preference. Set the entry price, stop loss, and take profit levels using either custom prices or percentage-based levels. Customize the text size, colors, and X-axis offset for labels and lines. Analyze the visualized levels on your chart to plan and execute your trades effectively.
Note:
This script is for visualization and planning purposes only. It does not execute any trades automatically. Always conduct thorough research and analysis before making any trading decisions.
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Updated targets tooltip info
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Library updated
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Simulate mode added, and prefix labels can be customized
@bunulu, I actually forgot about that version. I prefer the new one though. More intuitive to me. Is it possible to auto-calc position sizing dynamically? Ex: Total portfolio size = X, risk = 1%, stop loss is entered manually (and current price less stop loss price divided by risk allowance = total $ invested in the trade)? I always risk a set amount of my portfolio per swing trade and I determine my stops based on important chart levels (not a fixed %). Hopefully that makes sense. Is this possible?
bunulu
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@tyler8910, I think you want to have calculation from my second script here. Sure it's possible. I will think a bit how to make it readable and intuitive. Thanks for comment