OPEN-SOURCE SCRIPT
Prop Safety Filter - Dynamic Size
Listen, we all know the market gets too fast sometimes. This scrypt lets you set your personal daily loss limit and helps you guess when market conditions will let you trade up to 4 trades without blowing your PDLL.
You earnetly can still trade if the screen goes red, but the suggestion is if you do, trade smaller. Tell it how many micros you're trading and this script uses ATR to determine if the individual candles are too wild or not for you to hold a trade with a reasonably small stop loss.
I "wrote" this script with Gemini, so if you have any issue with it, have gemini rewrite it for you, no problem.
You earnetly can still trade if the screen goes red, but the suggestion is if you do, trade smaller. Tell it how many micros you're trading and this script uses ATR to determine if the individual candles are too wild or not for you to hold a trade with a reasonably small stop loss.
I "wrote" this script with Gemini, so if you have any issue with it, have gemini rewrite it for you, no problem.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.