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[GetSparx] Nova Pro

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[GetSparx] Nova Pro – Position Calculator
This indicator is a user-friendly TradingView indicator designed to help traders plan and visualize their entry and exit points, calculate position sizing, and instantly display key risk metrics. By simply entering three price levels (Entry, Take Profit and Stop Loss) along with a risk amount in USD, the indicator draws color-coded lines and labels on the chart, and generates a concise table with all computed values. This allows you to assess the risk-reward profile of any trade at a glance, without performing manual calculations.

⚙️ How It Works
When the indicator is added to the chart it will ask to specify the price inputs and the risk amount in USD.

Price Inputs (Entry, TP, SL)
• You specify three price levels: the entry price, the profit target (Take Profit) and the loss threshold (Stop Loss).

• Inputs use TradingView’s native price-picker fields. Any change is immediately reflected on the chart.

Visual Display
• Each level is plotted as a line stretching into the future for enough room.

• Labels on the right show the exact price, color-coded: orange for Entry, green for TP and red for SL.

• Previous lines and labels are automatically removed when parameters change, ensuring the chart remains clean.

Risk Calculations
• The entered risk amount (in USD) is combined with the distance between Entry and SL to compute the optimal number of units (Qty) to trade.

• The script automatically detects whether it’s a long or short trade based on the relative positions of Entry and TP.

• Note that the risk and reward calculations do not factor in exchange fees, slippage, funding rates or any other trading costs. Actual profit and loss may differ once transaction fees and market execution variances are applied, so be sure to adjust your position sizing and expectations accordingly.

🎯 What You Can Do With It
• Consistent Position Sizing
Automate your position size so you consistently risk the same dollar amount, regardless of price volatility or stop distance.

• Clear Risk Management
Instantly view your Reward-to-Risk ratio, potential profit in USD and exact risk amount, so you make well-informed decisions.

• Rapid Scenario Analysis
Adjust TP, SL or Entry on the fly to see how each change affects your potential profit, loss and RR ratio.

• Publication-Ready Charts
The visual elements and integrated table are optimized for TradingView publications, giving your analysis a professional, polished look.

📊 Explanation of Table Values
• Entry
Calculation: rounded to the nearest tick of your entered entry price.
Marks the exact level at which you initiate the trade and serves as the reference point for all further risk and reward calculations.

• Quantity (Qty)
Calculation: Risk USD ÷ (Entry − Stop Loss).
Determines how many units, contracts or shares to trade so that a stop-out at your SL equals exactly your predefined dollar risk, resulting in consistent per-trade exposure.

• Risk to Reward (RR)
Calculation: (Take Profit − Entry) ÷ (Entry − Stop Loss).
Expresses how many dollars of potential profit you target for each dollar you risk. Values above 1 mean the reward exceeds the risk, guiding you to favorable setups.

• Take Profit (TP)
Calculation: rounded to the nearest tick of your entered take-profit price.
Your target exit level for booking gains, highlighted in green on the chart. Shows where you plan to capture profits if the market moves in your favor.

• Profit
Calculation: Qty × (Take Profit − Entry).
Gives the absolute potential gain in USD if price reaches your TP. Useful for comparing total return across different instruments or setups.

• Stop Loss (SL)
Calculation: rounded to the nearest tick of your entered stop-loss price.
The level at which your trade is automatically closed to cap losses, highlighted in red on the chart. Ensures you never lose more than your defined risk amount.

• Risk
Calculation: equals the entered Risk USD.
The maximum dollar amount you’re willing to lose on this trade. Acts as the upper boundary for your exposure, keeping your position sizing disciplined.

📝 Examples
• Long Example 1: Bitcoin/USD

Entry: $11851.1
Take Profit: $123853.9
Stop Loss: $115467.7
Risk USD: $500

The Risk to Reward ratio results in 2.25, which means the reward exceeds the risk.
For each dollar you risk, this setup has potential gains of 2.25 dollars.

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• Long Example 2: Algorand/USD

Entry: $0.2919
Take Profit: $0.3491
Stop Loss: $0.2655
Risk USD: $1000

The Risk to Reward ratio on this trade results in 2.17 and has a potential profit target of $2166.67. With a risk of $1000 USD the table conveniently shows a quantity of 37878 ALGO is needed for the trade.

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• Short Example 1: Forex EUR/USD

Entry: $1.16666
Take Profit: $1.15459
Stop Loss: $1.17374
Risk USD: $200

With a risk of $200 USD and a RR of 2.17, this example shows how a short trade can be accomplished on EUR/USD.

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• Short Example 2: Gold

Entry: $3366.29
Take Profit: $3272.01
Stop Loss: $3386.87
Risk USD: $1500

Within this short setup a risk of $1500 USD is used, which results in a RR of 4.58. The potential profit for this trade is $6871.72.

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Disclaimer
This tool is for educational and analytical use only. It does not provide financial advice or trading signals. Always use proper risk management and do your own due diligence.
Informacje o Wersji
Modified input Risk USD to float, to allow decimals.

Wyłączenie odpowiedzialności

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