Intraday Stop Loss Calculator[fitfatq]

30 août

Indicator Overview
Intraday Stop Loss Calculator is a practical tool designed for day traders. This indicator helps traders instantly calculate the loss percentage based on the high or low of the current K-bar relative to the entry price. It also displays the stop-loss risk based on the day's high or low. You can select either long or short mode, allowing the indicator to calculate the appropriate data according to your trading strategy.

Features

• Current K-bar Stop Loss: Calculates and displays the loss percentage based on the high or low of the current K-bar, making it ideal for short-term trading decisions. Day Stop Loss: Calculates and displays the loss percentage based on the day's high (for short positions) or low (for long positions), helping you better manage risk by understanding the distance between the current price and key levels.

Adjustable Options

• Minute Period: Users can select the minute period for the indicator, with a default of 5 minutes. Position Type: Choose between "Long" or "Short," and the indicator will automatically calculate the relevant stop-loss data based on your selection.
• Show Day Stop Loss: Users can choose whether to display the stop-loss percentage based on the day's high or low. The default is enabled.

Usage Instructions

• Load the indicator, set the minute period, and choose the long or short mode. Depending on your trading strategy, decide whether to display the day's stop-loss percentage.
• When switching symbols, if the current K-bar has no movement, the indicator may temporarily not display information. This is normal behavior. Please wait for the next K-bar or manually refresh.

Basic Logic
The indicator calculates and displays the loss percentage based on the high or low of the current K-bar and the day's high or low, helping traders understand potential stop-loss risks in real-time. Users can adjust parameters such as color and transparency to ensure the indicator displays clearly and meets their expectations.

Notes
When switching symbols, if the K-bar has no movement, the indicator may not immediately update. This is due to Pine Script requiring data changes to trigger calculations. This indicator is ideal for users who frequently engage in day trading, helping you better manage risk and make timely decisions.

Additionally, please note that in the Chinese version of TradingView, the long/short options might be translated as "Short-term" and "Long-term," but this does not affect the functionality of the indicator.