Johnny_Nickles

Position calculator

This position calculator can be used to see if the potential trade is a good one. Enter the values as inputs and the output will be listed next to the settings of the indicator. Nearest support/resistance is meant to be your price target. I have found running this analysis prior to a trade to be helpful. This will output number of shares to buy/sell based on your risk percent and then also give a potential profit factor. I wish the outputs in Tradingview were cleaner but this works for now. Let me know if you have any questions or suggestions. Happy trading!
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 a publication is governed by House Rules. You can favorite it to use it on a chart.

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Comments

I love the functionality and simplicity of this script - thank you!

One question: can I change any setting so that the inputs I enter remain specific to that SYMBOL? At the moment if I change the values on any stock screen they change for all stocks.
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The outputs for the calculator are in order of the plots. Risk per trade, Number of shares, P/L Factor, Potential profit, position value. It would be wonderful if Tradingview had simple outputs but that is not currently the case. The plots are 100% transparent
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