OPEN-SOURCE SCRIPT
SL / TP Projector
Overview
This indicator is a real-time risk-management tool designed to help traders maintain strict discipline. Instead of calculating exit levels manually, this script projects a mathematical "blueprint" of your potential trade directly onto the chart. It calculates Stop Loss (SL) and Take Profit (TP) levels dynamically based on your specific account equity, risk tolerance, and position size.
This indicator does not provide buy or sell signals; rather, it acts as projections that follows the current price, showing you exactly where your exit orders should sit to satisfy your risk management rules if you were to enter a trade at the current market price.
The Perfect Companion for TradingView Order Presets
This script is highly effective when used in tandem with TradingView’s Order Presets. By visualising the risk boundaries first, you can ensure your order presets (set in the Trading Panel) align with the technical structure of the market (e.g., placing a stop behind a swing high/low) before executing.
Core Functionality
The script automates the complex math required for professional position sizing:
How to Use
Trading Utility
Disclaimer
This script is a calculation tool and does not provide financial advice or trade signals. Trading involves significant risk. Ensure you test your risk settings in a paper trading environment before live execution.
This indicator is a real-time risk-management tool designed to help traders maintain strict discipline. Instead of calculating exit levels manually, this script projects a mathematical "blueprint" of your potential trade directly onto the chart. It calculates Stop Loss (SL) and Take Profit (TP) levels dynamically based on your specific account equity, risk tolerance, and position size.
This indicator does not provide buy or sell signals; rather, it acts as projections that follows the current price, showing you exactly where your exit orders should sit to satisfy your risk management rules if you were to enter a trade at the current market price.
The Perfect Companion for TradingView Order Presets
This script is highly effective when used in tandem with TradingView’s Order Presets. By visualising the risk boundaries first, you can ensure your order presets (set in the Trading Panel) align with the technical structure of the market (e.g., placing a stop behind a swing high/low) before executing.
Core Functionality
The script automates the complex math required for professional position sizing:
- Dynamic Risk Calculation: Converts a percentage of your total account balance into a fixed dollar amount at risk.
- Contract-to-Tick Scaling: Uses instrument-specific point values (e.g., $5 per tick on ES or $10 on GC) to translate your dollar risk into precise price coordinates.
- Visual Projections: Stop Loss represents the "Invalidation Point" based on your Risk %; Take Profit is calculated using a user-defined Reward-to-Risk (R:R) ratio.
How to Use
- Configuration: Enter your current account balance and the number of Contracts you intend to trade in the settings.
- Define Risk Parameters: Set your preferred Risk % per trade (e.g. 1%) and your target Reward Ratio (e.g. 2.0 for a 2:1 trade).
- Toggle Direction: Use the dropdown menu to switch between Long and Short projections.
- Analyse & Execute: Observe the projections as they move with the price. Use these levels to inform your limit orders or to adjust your TradingView’s Order Presets for a "one-click" bracket entry.
Trading Utility
- Pre-Trade Validation: Quickly see if a 1% risk stop-loss is too tight for the current volatility before entering.
- Prop Firm Compliance: Ideal for traders who must strictly adhere to maximum daily loss or per-trade risk limits.
- Cognitive Efficiency: Reduces "mental math" fatigue, allowing you to focus on price action and execution.
Disclaimer
This script is a calculation tool and does not provide financial advice or trade signals. Trading involves significant risk. Ensure you test your risk settings in a paper trading environment before live execution.
Script open-source
Dans l'esprit TradingView, le créateur de ce script l'a rendu open source afin que les traders puissent examiner et vérifier ses fonctionnalités. Bravo à l'auteur! Bien que vous puissiez l'utiliser gratuitement, n'oubliez pas que la republication du code est soumise à nos Règles.
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Script open-source
Dans l'esprit TradingView, le créateur de ce script l'a rendu open source afin que les traders puissent examiner et vérifier ses fonctionnalités. Bravo à l'auteur! Bien que vous puissiez l'utiliser gratuitement, n'oubliez pas que la republication du code est soumise à nos Règles.
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.