freedom_trader_

Sizing Guide

This indicator helps you defining your max sizing, depending on the max $$$ amount you're willing to risk against a specific exponential moving average (or VWAP , default is the 13ema).
You can define your max risk amount and your max allowed sizing. The indicator would suggest the best sizing in order to risk only up to the amount you are comfortable with on a potential trade.
Moreover, the column bar would turn yellow/red if the divergence is above a certain threshold (default are yellow > 1.50% and red > 2.75%, green otherwise).
Release Notes: To be more accurate, it now bases its size guide value off of the high/low of the previous candle instead of the current price which is way easier to manage for certain strategies.
Release Notes: In this latest version, I added the possibility to show the sizing for the pullback strategy (by enabling the "Sizing for Pullback" checkbox). It will only work properly in real-time, since the calculation takes into account the current hod/lod that will get overwritten over time as that trading day goes by (in case it makes a new hod/lod).
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Trade safe!

Roberto B

Comments

Thanks Roberto. This is a great indicator that has already kept me out of trouble. Thanks!
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awesome work Roberto! Would you have any suggestions where I need to start & study in order to learn this programming language?
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freedom_trader_ lucian_dinu
@lucian_dinu, I've done it through Google, trying and failing! I'm also going to start a little coding course for pine script on my mentor sessions (for WarriorPro students) next month (July 2019)!
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This is great. Really nice work!
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@JWalmer, Thank you. Glad to help!
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