TheTradingParrot

Add funds simulator

TheTradingParrot Mis à jour   
This script is intended to help understanding better and practice how to exit DCA deals that are in negative.

Multiple factors factors are relevant when trying to exit a bad deal:
  • How much funds are invested
  • What's the current average position price
  • How far the price has already dropped from that average
  • Is the price bouncing significantly and frequently to the upside providing multiple opportunities to exit or is it still a free-falling knife dumping heavy?
  • What are your TP % expectations

This scripts allows you to enter all these parameters visualising them all together in a single chart.

The RSI exit strategy
You can then make use of a simple exit strategy based on RSI.
The strategy will trigger entries where you are planning to add funds.
The chart will show you based on all this information how much funds you would have required to exit in profit and rescue the deal in green.
It will also flag if the exit strategy would have failed by plotting a red label indicating all the times where the TP wouldn't have been reached.

Comments
Adding funds to a red deal and making it worst is one of the worst nightmares of traders using dollar-cost-average strategies.
I hope this script can help you visualise better and practice adding funds in a safe chart before ever jumping into real-money!
If you guys like this script we can add more features in the future, just leave a comment if you have new ideas.
Notes de version:
Fix for chart not displaying when timeframe was higher than 15 minutes.

Join our membership to gain access to the private scripts.
www.thetradingparrot.com
Script protégé
Ce script est publié en code source fermé et vous pouvez l'utiliser librement. Vous pouvez le préférer pour l'utiliser sur un graphique. Vous ne pouvez pas visualiser ou modifier son code source.
Clause de non-responsabilité

Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.

Vous voulez utiliser ce script sur un graphique ?