Here is a label panel that shows the stop-loss number for Long or Short trades based on volatility using average true range and and a mult of that.
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I made it easier to see on all timeframes, and made it possible to adjust how many decimal places the numbers shown have.
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update to chart
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Added Take profit and Current Price. The price changes color to green if there is a higher low and changes color to orange if the is a lower high, there is a look back adjustment for this, if set to 2 it would need 2 consecutive higher lows or lower highs, it turns silver if neither have happened
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Added a "In Profit" level based on the trading fees, for those that trade on the lower timeframes
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The panel position can now be adjusted from the settings
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Added Risk and Reward percentages
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Display update
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The Risk Reward Percentages take the Fee setting into account
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Added some description to settings panel
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Added a switch to account for round trip fees for Roundtrip fees on Entries and Exits
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Changed the colors to be clearer
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Changed it a bit so you can set your risk amount
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Changed the view
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Fixed a bug in the fees on off
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Finally adjusted it so only the risk and reward account for the fees
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Cleaned up some errors
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I have taken the accounting for the fee option out as my math incorrect
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You can now enter the price manually
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Deleted enter price manually as it was buggy.
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I added a contract value so you can see how many contracts you need to trade as well as the dollar amount
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a little adjustment to adjust the contract value by 0.1 steps
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i added the option to shrink the panel display
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The contract display does not round of anymore and its updated to pinescript version 5
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Added manual entry for Price Entry and Stop Loss. Also, there is a leverage display showing the amount you will need to complete the trade.
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Added manual take profit entry
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Updated Chart.
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Updated the reward display to include leverage
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Minor Update
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Added Margin and reward in cash.
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Fixed some maths
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I added to the display the measurement of profit margin. So you know know what the amount in percentage is to be in profit. Taking into consideration the amount of leverage you are having to put on.
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The Profit Margin display basically accounts for the exchange fees on the leveraged cash total you trade.
Thanks for this wonderful script. Is it possible to show the same information for a specific candle rather than the last candle?
DannyBaker
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@uorgun, can you explain why that would be useful?
uorgun
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@DannyBaker, I thought that could be useful for manual backtesting purposes. There is a tool on MT4 platform. When you click on a candle in the past, it automatically draws (with a horizontal line) stoploss and take profit levels based on ATR. When you are backtesting your indicators, you can visually see if it was a win or loss. I am not a programmer and don't know much about pine coding. I just wanted to know if a similar tool could be written for Tradingview platform.
DannyBaker
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@uorgun, I could make it so you could set a number back from the current price, but that would move in real time. and drawing lines would be a differant indicator
uorgun
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@DannyBaker, thank you so much. I will be using your indicator as is and for forward testing. For backtesting, setting a number back will make things complicated and will be time consuming. Thanks again for this useful indicator.