Bracket Trading Visualizer

Jul 26, 2023

The Bracket Trading Visualizer highlights locations in the past when a bracket trade would of won.

🔶 Purpose

• Show the opportunities a trader had in the past to give a intuitive idea of how to trade the chart.
  

🔶 How It Works

• Red color indicates the location a Short would of won.
  
• Green color indicates the location a Long would of won.
  
• Yellow color indicates the location a Long OR Short would of won.
  
• Empty color indicates the location a Long OR Short would of Lost.
  
• Empty color also indicates undecided, especially on the latest candles as the future has not been drawn yet.
  

🔶 What Is A Bracket Trade?

• A bracket trade is when your take profit and stop loss are automatically set on entry.
  
• Example: Take profit is set to 1%, Stop loss is set to 1%, when entering a trade the take and stop will set above and bellow the entry price by 1% each.
  

🔶 More Info

• The default Take%/Stop% need to be increased for higher time frames as each candle moves larger distances.
  
• The indicator crawls from left to right on each candle to check what part of that candle was a win for longs and shorts.
  
• This Indicator updates past data based on current information, so empty areas are being filled in as new candles are created.
  
• Because of pinescript limitations the script can only see 375 bars into the future. If a trade takes longer then 375 bars to finalize it will be empty color.
  

🔶 Theme Setup

• It wont look as good with basic candles so set candles to "Bars" and color them white.
  

🔶 Experiments

• Set a take profit larger then the stop loss and look at the opportunities, notice how there are Less.
  
• Set a Stop Loss larger then the take profit and look at the opportunities, notice how there are More, including yellow overlaping.
  

🔶 Settings

• Take %: Take Profit percent distance from the entry price
  
• Stop %: Stop Loss percent distance from the entry price
  
• Commission %: Commission is calculated twice for entry and exit. A 0.03% commission will increase take profit by 0.06% and decrease stop loss by 0.06%.
  
• Calculation Bars Back: If you need to see more candles into the past increase this number, its purpose is to speed up calculation time, Higher number is slower. Also if things aren't drawing properly zoom out all the way then zoom back in.
  

🔶 Community

I hope you guys find this useful, if you have any questions or feature requests leave me a comment! Take care :D

Aug 8, 2023

Release Notes

Made calculation more accurate