Visual help for money management

Visual help for money management

This script is designed for traders who wish to automate their trading strategies on the ProRealTime platform, focusing on risk management and trade execution based on specific market conditions. It incorporates initial capital, risk percentage, entry point (In), risk-reward ratio (Ratio), and whether to adjust the stop loss based on the Average True Range (ATR), providing a comprehensive approach to managing trades. The code calculates the number of shares to buy, the risk in euros, and the position size based on the trader’s specified risk level and capital. It also determines the profit target based on the entry price and the risk-reward ratio.

Visual aids are a significant aspect of this script, offering traders graphical representations of entry points, stop loss levels, and profit targets directly on their trading charts. It includes conditions for drawing arrows and rectangles to indicate these key levels, enhancing the decision-making process with clear visual cues. Additionally, the script features text annotations to display vital information such as stop loss in euros and percentage, capital, position size, and potential profit, making it easier for traders to assess their positions at a glance.

The script also handles day-to-day price variations, showing daily percentage changes and differences in points for the current and previous days, aiding traders in understanding market movements relative to their trades. These features aim to support traders in making more informed decisions by providing a detailed overview of their trading setup, potential risks, and rewards directly on their trading platform.

 

 

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Risk disclosure:

No information on this site is investment advice or a solicitation to buy or sell any financial instrument. Past performance is not indicative of future results. Trading may expose you to risk of loss greater than your deposits and is only suitable for experienced investors who have sufficient financial means to bear such risk.

ProRealTime ITF files and other attachments : How to import ITF files into ProRealTime platform?

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