OPEN-SOURCE SCRIPT
Smart Wick Risk Engine
Smart Wick Risk Engine is a precision trading tool designed for fast execution traders, especially on lower timeframes like M1.
This indicator measures the exact distance from candle wicks (high and low) to the closing price of each candle, helping traders quickly identify stop-loss distances based on real market structure.
Based on this wick-to-close distance, the tool automatically calculates the optimal lot size according to a user-defined risk per trade. This allows traders to maintain consistent risk management without manual calculations during fast market conditions.
Key Features:
* Automatic wick-to-close distance measurement (both upper and lower wicks)
* Real-time lot size calculation for Buy and Sell scenarios
* Adjustable risk per trade ($) for flexible account scaling
* Automatic pip calculation for Forex and Gold (XAUUSD)
* Clean label display directly on chart for instant decision making
* Designed for fast execution (ideal for scalping and intraday trading)
How to Use:
1. Wait for candle close
2. Read the wick distance (pip value)
3. Use the displayed lot size based on your risk
4. Execute trade immediately
This tool eliminates the need for manual lot size calculation, helping traders stay focused and consistent under pressure.
Note:
* Pip value is automatically calculated but can be adjusted depending on broker specifications.
* Best used with a solid trading strategy and proper discipline.
This indicator measures the exact distance from candle wicks (high and low) to the closing price of each candle, helping traders quickly identify stop-loss distances based on real market structure.
Based on this wick-to-close distance, the tool automatically calculates the optimal lot size according to a user-defined risk per trade. This allows traders to maintain consistent risk management without manual calculations during fast market conditions.
Key Features:
* Automatic wick-to-close distance measurement (both upper and lower wicks)
* Real-time lot size calculation for Buy and Sell scenarios
* Adjustable risk per trade ($) for flexible account scaling
* Automatic pip calculation for Forex and Gold (XAUUSD)
* Clean label display directly on chart for instant decision making
* Designed for fast execution (ideal for scalping and intraday trading)
How to Use:
1. Wait for candle close
2. Read the wick distance (pip value)
3. Use the displayed lot size based on your risk
4. Execute trade immediately
This tool eliminates the need for manual lot size calculation, helping traders stay focused and consistent under pressure.
Note:
* Pip value is automatically calculated but can be adjusted depending on broker specifications.
* Best used with a solid trading strategy and proper discipline.
Script de código aberto
Em verdadeiro espírito do TradingView, o criador deste script o tornou de código aberto, para que os traders possam revisar e verificar sua funcionalidade. Parabéns ao autor! Embora você possa usá-lo gratuitamente, lembre-se de que a republicação do código está sujeita às nossas Regras da Casa.
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.
Script de código aberto
Em verdadeiro espírito do TradingView, o criador deste script o tornou de código aberto, para que os traders possam revisar e verificar sua funcionalidade. Parabéns ao autor! Embora você possa usá-lo gratuitamente, lembre-se de que a republicação do código está sujeita às nossas Regras da Casa.
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.