OPEN-SOURCE SCRIPT
LuxAlgo Quant magic Dynamic R:R Strategy - Optimized
LuxAlgo Quant magic Dynamic R:R Strategy
This script is a dynamic risk-return (R/R) planner specifically optimized f. It combines a trend-following strategy with a visual trading planning tool.
Here is a detailed summary of its features:
1. Strategy Logic (Signals)
The script generates buy and sell signals based on three filters:
EMA Crossover: The crossover of a fast (20) and a slow (50) EMA.
Trend Filter: Signals are only valid in the direction of the overarching trend (200 EMA) (long positions only above the 200 EMA, short positions only below).
Momentum Filter (RSI): The RSI must be above 60 for long signals and below 40 for short signals to be considered valid.
2. Trading Planning & Visualization
As soon as a signal occurs (or is set manually), the script records the following directly on the chart:
Entry Line: Displays the price at which the trade was opened.
Stop-Loss (SL): Can be automatically calculated based on the ATR (Average True Range) or the last swing high/low.
Take-Profit Level (TP): Automatically calculates three profit targets based on the risk-reward ratio (1R, 2R, and 3R by default).
R:R Boxes: Visualize the risk (gray box) and potential profit (green/red box) directly on the last few candles.
3. Risk Management Calculator
A table (dashboard) appears in the upper right corner of the chart and provides the following information:
Risk Amount: The potential loss (in currency) based on the account size and the set risk percentage.
Position Size (Number): Precisely calculates how many units (contracts) you need to buy to maintain your chosen risk level.
Potential Profit: Shows the expected profit upon reaching the third take-profit target.
4. Flexibility
Automatic Display: The planner automatically jumps to the latest signal, allowing you to instantly see the values for your next trade.
Manual Mode: You can disable the automatic function and use the planner to calculate your setups manually.
Alert Function: The script sends notifications as soon as a new buy or sell signal is detected according to your strategy.
In summary, this is an all-in-one tool that not only shows you trading opportunities but also instantly calculates how much you need to invest and what your objectives should be.
This script is a dynamic risk-return (R/R) planner specifically optimized f. It combines a trend-following strategy with a visual trading planning tool.
Here is a detailed summary of its features:
1. Strategy Logic (Signals)
The script generates buy and sell signals based on three filters:
EMA Crossover: The crossover of a fast (20) and a slow (50) EMA.
Trend Filter: Signals are only valid in the direction of the overarching trend (200 EMA) (long positions only above the 200 EMA, short positions only below).
Momentum Filter (RSI): The RSI must be above 60 for long signals and below 40 for short signals to be considered valid.
2. Trading Planning & Visualization
As soon as a signal occurs (or is set manually), the script records the following directly on the chart:
Entry Line: Displays the price at which the trade was opened.
Stop-Loss (SL): Can be automatically calculated based on the ATR (Average True Range) or the last swing high/low.
Take-Profit Level (TP): Automatically calculates three profit targets based on the risk-reward ratio (1R, 2R, and 3R by default).
R:R Boxes: Visualize the risk (gray box) and potential profit (green/red box) directly on the last few candles.
3. Risk Management Calculator
A table (dashboard) appears in the upper right corner of the chart and provides the following information:
Risk Amount: The potential loss (in currency) based on the account size and the set risk percentage.
Position Size (Number): Precisely calculates how many units (contracts) you need to buy to maintain your chosen risk level.
Potential Profit: Shows the expected profit upon reaching the third take-profit target.
4. Flexibility
Automatic Display: The planner automatically jumps to the latest signal, allowing you to instantly see the values for your next trade.
Manual Mode: You can disable the automatic function and use the planner to calculate your setups manually.
Alert Function: The script sends notifications as soon as a new buy or sell signal is detected according to your strategy.
In summary, this is an all-in-one tool that not only shows you trading opportunities but also instantly calculates how much you need to invest and what your objectives should be.
Script de código abierto
Fiel al espíritu de TradingView, el creador de este script lo ha convertido en código abierto, para que los traders puedan revisar y verificar su funcionalidad. ¡Enhorabuena al autor! Aunque puede utilizarlo de forma gratuita, recuerde que cualquier republicación del código está sujeta a nuestras Normas internas.
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.
Script de código abierto
Fiel al espíritu de TradingView, el creador de este script lo ha convertido en código abierto, para que los traders puedan revisar y verificar su funcionalidad. ¡Enhorabuena al autor! Aunque puede utilizarlo de forma gratuita, recuerde que cualquier republicación del código está sujeta a nuestras Normas internas.
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.