The Auto Position Sizing Risk Reward indicator shows different Risk levels 1, 1.5, 2 and 3 based on your risk amount and uses an auto Stoploss level based on the ATR.
You can set the values for the "Note or Title", "Risk Amount", "Entry", "Target Price", "Stop Loss Distance", "Default Risk/Reward" and ATR settings.
The "auto" part comes into play when you haven't yet set an Entry value, which will make everything update according to the latest Closing price of the asset.
Once you set the Entry price, the Risk/Reward levels will stop updating their positions and stay in place. This allows you to dynamically see your potential Risk/Reward as the market progresses, as well as locking in your Risk/Reward levels once you are ready to enter a position.
Your Position Size as well as actual Stoploss level and Cost is displayed along with the other values in the textbox that floats next to the R/R levels.
This indicator was inspired by and relies heavily on the work done by zzzcrypto123 and NXT2017 in their indicators, but I felt that this version is unique enough to hopefully be of use to the general community.
I hope this helps you to trade better! Please feel free to improve it and provide suggestions.
disregard last comment. was meant for different idea but thanks for your efforts. great job!!!
expomil
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Very very useful AUTO POST IS SUPER HELP
Can I set an alarm when the target or stop loss value is greater than a certain % in a single alarm? to enter interesting variation trades with a single notice in any direction.
If not, what would be the best way to program them saving alarms to achieve that goal?
Thank you for sharing and developing such a useful indicator, it is the basis of the ones I use
expomil
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Muy muy util AUTO POST ES SUPER AYUDA
Puedo programar una alarma cuando el valor del targert o del stop lost sea mayor a un determinado % en una sola alarma ? para entrar en operaciones de variacion interesante con un solo aviso en cualquier sentido .
En caso negativo cual seria la mejor forma de programarlas ahorrando alarmas para lograr ese objetivo
Gracias por compartir y desarrollar tan util indicador , es la base de los que utilizo
Soysauce14
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🥰
mehulalian
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Is there any option to set stop loss based on % of DATR? e.g. 10% of DATR from bottom of demand zone..
Apart from the above query, I found a glitch...I applied tool on 1 crypto chart and entered the value of entry price, stop loss distance and once I switched to another chart, the same value displayed on that chart..that's completely irrelevant. If entry price for 1 chart is 18.57 whereas on another chart it can be 500. Can't we enter relevant values to the respective charts? it's useless to show values of one chart on another. E.g. I entered value for HNT chart, with entry price 18.57 USDT....now I switched to MATIC where the prices are different from MATIC but still your tool shows 18.57 as entry price on MATIC as well.
EasyTradingSignals
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@mehulalian, Hi, I'd have to think about how to implement something like "10% of DATR from bottom of demand zone", like how would that "demand zone" be calculated? I've really only created this for myself, and decided to share it with the community, so my apologies if it is focused on one thing. Regarding the other "irrelevant" behavior you're referring to, that's really not in my control, it's probably a template or something that you saved which stores the indicator values. Also, I've primarily created this tool for myself, the source is available for you to alter yourself if you wish, and it was focused primarily on Stocks and Forex. I've recently made some additional changes with more functions to change for different things e.g. Futures, but I haven't had the time to post an update on that yet.
mehulalian
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@EasyTradingSignals, thanks for response. Actually my point is that even if it’s a template, it should showcase data as per respective stock. E.g. if you select APPLE stock and setup entry price and then if you switch to TESLA stock and if the tool shows the price points of APPLE on TESLA chart then it’s a bug right?
Basically here there’s such issue. I hope you got the point.
EasyTradingSignals
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@mehulalian, If it's a template you're using, it will copy the chart and indicator settings to wherever you apply it, it's not something I can control. If you believe that's a bug, please take it up with the Tradingview team. I hope you enjoy using the Position Sizing indicator and contribute to making it better, personally I use it every day on all my charts and I can't go without it, which is why I wanted to share it with the community.
mehulalian
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@EasyTradingSignals, I also agreed that it's a useful tool and I would like to thank you so much for sharing it and I am also using it.
ZhenFu1228
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Hi, definitely love this calculator especially the part where the things stop update when entry price is entered. But instead of using ATR/Fixed amount stop loss distance, can you add another options where we can manually key in the price for the stop loss? I think It’ll be even better if the 1.5R 2R 3R 4R is shown in the table for better visualization. Thanks @EasyTradingSignals