Calculates and plots Stop Loss and Position Size, based on desired ATR factor. Displays Stop Loss Price, SL Distance Percent and Position Size overlayed in the chart and plots a stop loss line. Additionally Stop Loss, ATR, SL Distance and Position Size are also displayed in the Data Window. Available settings: Trade - long / short ATR timeframe - Allows to...
Smart Sizing is a simple indicator designed for stock traders to quickly see how many shares you should ideally trade to have an equal amount of risk on all of your trades. It uses your inputted values along with the ATR to determine the right amount of shares you should trade. Since every stock has a different level of volatility just simply buying 100 shares...
This simple script provides a way of calculating position size on a bar by bar basis for a fixed risk amount. If you are trading a fixed risk amount (e.g. $100) per trade and your Entry and Stop is defined by a specific bar on the chart (any resolution e.g. 15 min, 5 min, 2 min etc) then this indicator will show you the position size you can take. The user...