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 open-source
Nello spirito di TradingView, l'autore di questo script lo ha reso open source, in modo che i trader possano esaminarne e verificarne la funzionalità. Complimenti all'autore! Sebbene sia possibile utilizzarlo gratuitamente, ricordiamo che la ripubblicazione del codice è soggetta al nostro Regolamento.
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.
Script open-source
Nello spirito di TradingView, l'autore di questo script lo ha reso open source, in modo che i trader possano esaminarne e verificarne la funzionalità. Complimenti all'autore! Sebbene sia possibile utilizzarlo gratuitamente, ricordiamo che la ripubblicazione del codice è soggetta al nostro Regolamento.
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.