A tool to calculate the average price and position size.
The "Risk Amount" input means the amount of dollars you lose if the trade gets stopped out (it should be based on a small percentage of your account).
TIPS - If you use the weights to calculate an average price, make sure it adds up to 100% in total or you will get a weird number. - Keep an eye on the risk amount if you take a trade, if I ever update the script it might set back to default which will change your position size. - I tested it all but you might trade in a different way than me, so do your own calculation for every new thing you try with it.
If you find any bug please tell me so that no one ends up with a weird calculation or position size.
Versionsinformation
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UPDATE - Added one label view - Added label size options - Made stop loss and average price dashed lines - Cleaned the script a bit, go to line 157 to change colors in the script
This is a great tool that is not been discovered especially for grid entries. Any update to this since 2020? Suggestions: - display tabulate data in table form in a corner. Cleaner. - display Risk Amount & Risk percentage. - instead of 3 entries, extend to 5 and above.
Suggestions:
- display tabulate data in table form in a corner. Cleaner.
- display Risk Amount & Risk percentage.
- instead of 3 entries, extend to 5 and above.