PINE LIBRARY
RiskManager
Library "RiskManager"
A library for risk management and position sizing calculations.
calc_position_size(account_size, risk_pct, entry_price, stop_loss)
Calculates the optimal position size (number of shares/contracts) based on account risk.
Parameters:
account_size (simple float): The total account balance in your account currency (simple float).
risk_pct (simple float): The percentage of the account to risk per trade (simple float, e.g., 1.0 for 1%).
entry_price (float): The planned entry price for the trade (series float).
stop_loss (float): The planned stop-loss price for the trade (series float).
Returns: The calculated position size (series float). Returns 0 if stop loss equals entry price to avoid division by zero.
A library for risk management and position sizing calculations.
calc_position_size(account_size, risk_pct, entry_price, stop_loss)
Calculates the optimal position size (number of shares/contracts) based on account risk.
Parameters:
account_size (simple float): The total account balance in your account currency (simple float).
risk_pct (simple float): The percentage of the account to risk per trade (simple float, e.g., 1.0 for 1%).
entry_price (float): The planned entry price for the trade (series float).
stop_loss (float): The planned stop-loss price for the trade (series float).
Returns: The calculated position size (series float). Returns 0 if stop loss equals entry price to avoid division by zero.
Pine library
In true TradingView spirit, the author has published this Pine code as an open-source library so that other Pine programmers from our community can reuse it. Cheers to the author! You may use this library privately or in other open-source publications, but reuse of this code in publications is governed by House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Pine library
In true TradingView spirit, the author has published this Pine code as an open-source library so that other Pine programmers from our community can reuse it. Cheers to the author! You may use this library privately or in other open-source publications, but reuse of this code in publications is governed by House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.