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OPEN-SOURCE SCRIPT

Stop Loss Panel

By DannyBaker
Updated
Here is a label panel that shows the stop-loss number for Long or Short trades based on volatility using average true range and and a mult of that.
Release Notes
I made it easier to see on all timeframes, and made it possible to adjust how many decimal places the numbers shown have.
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update to chart
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Added Take profit and Current Price. The price changes color to green if there is a higher low and changes color to orange if the is a lower high, there is a look back adjustment for this, if set to 2 it would need 2 consecutive higher lows or lower highs, it turns silver if neither have happened
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Added a "In Profit" level based on the trading fees, for those that trade on the lower timeframes
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The panel position can now be adjusted from the settings
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Added Risk and Reward percentages
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Display update
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The Risk Reward Percentages take the Fee setting into account
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Added some description to settings panel
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Added a switch to account for round trip fees for Roundtrip fees on Entries and Exits
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Changed the colors to be clearer
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Changed it a bit so you can set your risk amount
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Changed the view
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Fixed a bug in the fees on off
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Finally adjusted it so only the risk and reward account for the fees
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Cleaned up some errors
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I have taken the accounting for the fee option out as my math incorrect
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You can now enter the price manually
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Deleted enter price manually as it was buggy.
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I added a contract value so you can see how many contracts you need to trade as well as the dollar amount
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a little adjustment to adjust the contract value by 0.1 steps
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i added the option to shrink the panel display
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The contract display does not round of anymore and its updated to pinescript version 5
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Added manual entry for Price Entry and Stop Loss. Also, there is a leverage display showing the amount you will need to complete the trade.
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Added manual take profit entry
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Updated Chart.
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Updated the reward display to include leverage
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Minor Update
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Added Margin and reward in cash.
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Fixed some maths
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I added to the display the measurement of profit margin. So you know know what the amount in percentage is to be in profit. Taking into consideration the amount of leverage you are having to put on.
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The Profit Margin display basically accounts for the exchange fees on the leveraged cash total you trade.
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a few small updates
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Update of chart
Average True Range (ATR)stop-lossstoplossstopsVolatility

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.

Want to use this script on a chart?

DannyBaker

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