OPEN-SOURCE SCRIPT
Profit and Stoploss Calculator
This script is designed to display three stop loss areas to assist either with automation of risk management or identify and alert when price is in a range of a trade for risk to reward ratio.
In this version there are three stop losses and 1 PT. Mainly because i will most likely only be using 1 of the SL to pair with the PT.
Stoploss areas are displayed on both sides of the price for long and short calculations along with the two profit factors but the settings in the indicator it self apply to both sides in terms of percentage.
In this version there are three stop losses and 1 PT. Mainly because i will most likely only be using 1 of the SL to pair with the PT.
Stoploss areas are displayed on both sides of the price for long and short calculations along with the two profit factors but the settings in the indicator it self apply to both sides in terms of percentage.
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
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