OPEN-SOURCE SCRIPT
Aylık Pivot ile TP1, TP2, TP3, SL, TS Hesaplama (ozanbey)
The purpose of this code is to provide a risk management and profit-taking strategy based on monthly pivot levels in order to **maintain individual feeling**. When we examine the code, various **profit-taking levels (TP1, TP2, TP3)** and **stop-loss** (SL) and **trailing stop (TS)** are created, allowing the investor to follow regularly on **stocks**. ### Let's Explain the Code Step by Step: 1. **User Settings**: - **Number of Stocks (numStocks)**: The number of stock allocations to be followed is set to 10. - **Risk Ratio (riskPerTrade)**: A risk of 1% is set for each position. - **Stop Loss and Trailing Stop Levels**: Stop-loss is set to 5%, trailing stop is set to 2%.
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.
For quick access on a chart, add this script to your favorites — learn more here.
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.
For quick access on a chart, add this script to your favorites — learn more here.
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.