OPEN-SOURCE SCRIPT
Position Size Calculator
The Position Size Calculator (PSC) is a comprehensive tool designed to assist traders in managing their trades risk by accurately calculating the optimal position size based on account settings, trade levels, and risk management parameters. This indicator helps traders make informed decisions by providing critical information about potential profit and loss, risk-reward ratio (RRR), and position size (PS).
█ Key Features
• Customizable Account Settings: Define your account size, currency, risk tolerance, and commission structure to personalize the calculations.
• Real-Time Trade Levels: Easily input your entry, stop loss, and take profit prices directly on the chart for immediate calculations.
• Visual Indicators: Clearly see your entry, stop loss, and take profit levels with customizable colors and labels.
• Comprehensive Position Information: View detailed information about your position, including potential profit and loss, risk-reward ratio, and position size.
• Currency Conversion: Automatically convert prices to your account currency, making it easy to manage trades in different markets.
• Hide Metrics: Choose which metrics to display to avoid emotional influence on your trading decisions (e.g., hiding PnL).
█ Conclusion
The Position Size Calculator is an essential tool for traders looking to optimize their trading strategies and manage risk effectively. By providing detailed calculations and visual indicators, this tool helps you make informed decisions, improving your overall trading performance.
█ Important
• Ensure that your stop loss and take profit levels are correctly set relative to your entry price to avoid errors.
• The default commission setting considers both entry and exit commissions. Adjust accordingly if only one commission is applicable.
Consider using this tool to manage every trade risk correctly and prevent significant drawdowns.
Hope you like it. Happy trading!
█ Key Features
• Customizable Account Settings: Define your account size, currency, risk tolerance, and commission structure to personalize the calculations.
• Real-Time Trade Levels: Easily input your entry, stop loss, and take profit prices directly on the chart for immediate calculations.
• Visual Indicators: Clearly see your entry, stop loss, and take profit levels with customizable colors and labels.
• Comprehensive Position Information: View detailed information about your position, including potential profit and loss, risk-reward ratio, and position size.
• Currency Conversion: Automatically convert prices to your account currency, making it easy to manage trades in different markets.
• Hide Metrics: Choose which metrics to display to avoid emotional influence on your trading decisions (e.g., hiding PnL).
█ Conclusion
The Position Size Calculator is an essential tool for traders looking to optimize their trading strategies and manage risk effectively. By providing detailed calculations and visual indicators, this tool helps you make informed decisions, improving your overall trading performance.
█ Important
• Ensure that your stop loss and take profit levels are correctly set relative to your entry price to avoid errors.
• The default commission setting considers both entry and exit commissions. Adjust accordingly if only one commission is applicable.
Consider using this tool to manage every trade risk correctly and prevent significant drawdowns.
Hope you like it. Happy trading!
Script open-source
Dans le plus pur esprit TradingView, l'auteur de ce script l'a publié en open-source, afin que les traders puissent le comprendre et le vérifier. Bravo à l'auteur! Vous pouvez l'utiliser gratuitement, mais la réutilisation de ce code dans une publication est régie par nos Règles. Vous pouvez le mettre en favori pour l'utiliser sur un graphique.
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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.