PROTECTED SOURCE SCRIPT
Updated CISD Risk Calculator for futures trading
CISD Risk Calculator Indicator Explanation
The CISD Risk Calculator is a specialized trading indicator that helps traders identify key market structure changes and automatically calculate optimal position sizing based on risk parameters. Here's a detailed explanation of what it does:
Core Functionality: CISD Detection
CISD stands for "Change In Structure Direction," which identifies important shifts in market structure:
Market Structure Analysis: The indicator constantly analyzes price action to detect when the market structure changes from bullish to bearish or vice versa.
Bullish CISD: Occurs when price makes a higher high, then retraces, but fails to make a lower low. This suggests a potential bullish continuation.
Bearish CISD: Occurs when price makes a lower low, then bounces, but fails to make a higher high. This suggests a potential bearish continuation.
Risk Calculation Features
The primary purpose of this modified indicator is to calculate trading risk:
Points Risk Calculation: The indicator measures the distance in points (price units) between the current price and the relevant structure level (high or low).
Automatic Contract Value Detection: It automatically detects what instrument you're trading (ES, NQ, MES, MNQ) and applies the correct point value:
NQ: $20 per point
MNQ: $2 per point
ES: $50 per point
MES: $5 per point
Position Sizing Calculation: Using your inputted dollar risk amount (e.g., $250), it calculates exactly how many contracts you should trade to maintain that risk level.
Visual Interface
The indicator has a minimalist design:
Central Display Panel: Shows key information at the top center of your chart:
CISD Type (Bullish or Bearish)
Points Risk (distance to your stop level)
Trade Risk (recommended number of contracts)
Invisible CISD Levels: The actual CISD lines and markers are completely invisible, keeping your chart clean while still performing calculations.
Simple Settings: Only shows essential settings:
Dollar Risk Amount: How much money you want to risk
Label Color and Text Color: For visual customization
Text Size: Adjusts the display size
The CISD Risk Calculator is a specialized trading indicator that helps traders identify key market structure changes and automatically calculate optimal position sizing based on risk parameters. Here's a detailed explanation of what it does:
Core Functionality: CISD Detection
CISD stands for "Change In Structure Direction," which identifies important shifts in market structure:
Market Structure Analysis: The indicator constantly analyzes price action to detect when the market structure changes from bullish to bearish or vice versa.
Bullish CISD: Occurs when price makes a higher high, then retraces, but fails to make a lower low. This suggests a potential bullish continuation.
Bearish CISD: Occurs when price makes a lower low, then bounces, but fails to make a higher high. This suggests a potential bearish continuation.
Risk Calculation Features
The primary purpose of this modified indicator is to calculate trading risk:
Points Risk Calculation: The indicator measures the distance in points (price units) between the current price and the relevant structure level (high or low).
Automatic Contract Value Detection: It automatically detects what instrument you're trading (ES, NQ, MES, MNQ) and applies the correct point value:
NQ: $20 per point
MNQ: $2 per point
ES: $50 per point
MES: $5 per point
Position Sizing Calculation: Using your inputted dollar risk amount (e.g., $250), it calculates exactly how many contracts you should trade to maintain that risk level.
Visual Interface
The indicator has a minimalist design:
Central Display Panel: Shows key information at the top center of your chart:
CISD Type (Bullish or Bearish)
Points Risk (distance to your stop level)
Trade Risk (recommended number of contracts)
Invisible CISD Levels: The actual CISD lines and markers are completely invisible, keeping your chart clean while still performing calculations.
Simple Settings: Only shows essential settings:
Dollar Risk Amount: How much money you want to risk
Label Color and Text Color: For visual customization
Text Size: Adjusts the display size
Release Notes
Corrected calculation for micro contractsProtected script
This script is published as closed-source. However, you can use it freely and without any limitations – 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.
Protected script
This script is published as closed-source. However, you can use it freely and without any limitations – 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.