Order Size (Units) and Entry/Stop Prices

This is a risk management script derived from the Turtle trading system. I will define what is needed for each input and will also include a brief description about the intended implementation of the risk management strategy. The risk strategy can be used with any trading strategy. This script displays the order size as a unit. 1 unit is the intended size of an entry, first or adds. If trading contracts, Unit Value is presented in terms of number of contracts. If NOT, Unit Value is presented in terms of total cost for a unit in the currency of the market being traded.


"Available Capital:" - This number should be the TOTAL amount of capital for use in trading account. DO NOT adjust for leverage. The default available capital is set at 15000.

"Account Currency:" - This should be the currency type for the amount entered into "Available Capital:".

"Does Account Currency Need To Be Converted?" - The currency type of "Available Capital:" must match the currency type of the market being traded. If the value of capital is not known for the market currency type, this option will perform the necessary calculation.

"Exchange used to derive BTC value" - This option is used to determine the exchange rate for currency conversions.

"Market Being Traded:" - This option reflects the trading pair of the asset being traded.

"Trading with leverage?" - This option will allow a user-specified constant value (i.e. leverage factor) to be used for calculating the account balance and number of units (i.e. order size). This is option is set to "No Leverage" by default, which will only allow the specified available capital to be used for balance and unit calculations.

"Amount of Leverage? (1-100)" - This number is the leverage factor being applied to the account per trade (e.g. 2.5, 5, 25, 50, 100). The default leverage factor is 100.

"Trading Contracts?" - This option will allow a user-specified value, for contracts, to be used when calculating unit value per order. This option is intended to be used when trading a derivative product (e.g. a contract.)

"Cost Per Contract" - This number should be equal to the value of the derivative, quoted in dollars. (e.g. Bitmex contracts are valued at $1, so the cost per contract = 1. Deribit offers contracts valued at $10, so the cost per contract =10.)

"Risk Percent" - This number should be the percent of capital you are willing to risk for each trade. (e.g. A $10,000 trading account using 2% risk would risk LOSING $20 on a trade.) Increasing or decreasing the risk amount will adjust stops and adds. This strategy would normally consider the total account equity when calculating the size of every new position. Currently, this indicator only calculates on the amount entered into the "Available Capital:" field. I plan to address this factor before implementing the script into the final complete trading strategy script. The default risk percent is set at 2.

Please remember, this indicator is technically in a testing phase. It makes up only a small piece of what will be a much more involved script.

***I am having some trouble with getting correct calculations when trading "BTC Market". I have yet to determine if the issue is due to the TradingView feeds or if the issue is in the actual code. I have, so far, calculated differences of 15-30% when comparing an asset value between it's trading pairs. I am always open to ideas and suggestions.***
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Good day, Would like to check out the Order Size (Units) and Entry/Stop Prices indicator cheers!
**Correction, my example for the risk factor is missing a 0. To be clear, a $10,000 account using 2% risk would risk losing $200 on a trade.**
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