Risk Management Calculator - TradersTavern

4. Aug.

Access: whop.com/checkout/tradingview?pageRoute=traderstavern&d2c=true

Feature List: Enhanced Risk Management Calculator
Account Size and Risk Percentage Input

Description: Allows users to input their total account size and the percentage of their account they are willing to risk per trade.
How It Works: The user enters the account size in dollars and specifies a risk percentage. The indicator then calculates the maximum dollar amount to be risked on any single trade.
Customizable Entry and Stop Loss Levels

Description: Enables users to input their desired entry price and stop loss price, with the option to use the Average True Range (ATR) for automated calculations.
How It Works: The user can manually input the entry and stop loss prices, or choose to have the stop loss calculated automatically using the ATR. If ATR is selected, the indicator calculates stop loss and take profit levels based on the ATR value at the time of entry.
ATR-Based Stop Loss and Take Profit

Description: Utilizes the ATR to dynamically calculate stop loss and take profit levels, providing an adaptive risk management approach.
How It Works: When enabled, the indicator calculates stop loss and take profit levels as a multiple of the ATR. These levels adjust based on the ATR value at the time of trade entry, allowing for more responsive risk management in varying market conditions.
Customizable Line Colors

Description: Users can customize the colors of the entry, stop loss, and take profit lines displayed on the chart.
How It Works: The indicator provides options to set the colors for each line, ensuring that they are easily distinguishable on the chart, matching the user's preferences.
Multiple Take Profit Levels

Description: Supports up to four take profit levels, each with individually customizable visibility and colors.
How It Works: Users can enable or disable the visibility of each take profit level on the chart and set distinct colors for each. The indicator will plot these levels based on either manual input or calculated values, depending on the user’s settings.
Risk-Reward Ratio Calculation

Description: Automatically calculates take profit levels based on user-defined risk-reward ratios.
How It Works: Users can set up to three different risk-reward ratios. The indicator calculates the corresponding take profit levels and plots them on the chart, providing a clear visualization of potential trade outcomes.
Position Sizing

Description: Calculates the number of contracts or units to trade based on the user’s risk tolerance and stop loss distance.
How It Works: The indicator uses the inputted account size, risk percentage, and stop loss distance to determine the appropriate position size, ensuring that the user does not exceed their risk tolerance.
Table Display with Trade Metrics

Description: Displays a table on the chart showing key trade metrics such as risk amount, entry price, stop loss price, trade direction, and reward-to-risk ratios.
How It Works: The user can customize the visibility of each metric in the table. The table updates in real-time, showing the calculated values based on current inputs and chart conditions.
Configurable Label Positions and Sizes

Description: Allows users to customize the position and size of labels displayed for entry, stop loss, and take profit levels on the chart.
How It Works: Users can choose where to position the labels (above, below, or beside the lines) and adjust their size. The labels display relevant information like price, percentage, or dollar value, as chosen by the user.
Alerts for Key Price Levels

Description: Generates alerts when the price reaches critical levels such as entry, stop loss, or take profit.
How It Works: The indicator allows users to set up alerts that trigger when the price hits the entry, stop loss, or any of the take profit levels, ensuring that users are notified of important trade events in real time.

4. Aug.

Versionshinweise

Patch Update Description for Risk Management Calculator - TradersTavern

Update Overview:
This update introduces several new features and enhancements to the Risk Management Calculator - TradersTavern, making it more flexible and customizable for your trading needs. Key improvements include new input options for risk settings, enhanced visual customization, and the ability to hide or show specific rows in the table display.

New Features and Enhancements:

1. []Updated Input Settings:
   • []Account Size: Default value updated to 723.
     []Risk Percentage: Default value updated to 5.0%.
     []Dollars Per Point: Default value updated to 2.0.
     
   []Improved Line Customization:
   • []Entry Line Color: Now customizable to any color.
     []Stop Loss Line Color: Now customizable to any color.
     []Take Profit Line Colors: All four take profit lines now have customizable colors with more distinct options for better visual differentiation.
     
   []Visibility Toggles:
   • []Show Take Profit Lines: Toggle visibility for each of the four take profit lines individually.
     []Manual Take Profit Line: Option to manually set a custom price level for the fourth take profit line.
     
   []Label Customization:
   • []Label Size: Options now include "Small", "Normal", and "Large" sizes.
     []Label Position: Customize the position of labels relative to the lines (Above, Below, Side).
     []Label Offset: Increased range for label offset to 75 bars ahead.
     
   []Table Enhancements:
   • []Dynamic Table Row Display: Options to hide or show specific rows in the table, including:
     
     • []Risk Amount
       []Entry Price
       []Stop Loss Price
       []Trade Direction
       []Reward-to-Risk Ratios
       []Potential Profit Values
       
     []Table Position: Enhanced flexibility to position the table in various locations on the chart.
     []Table Appearance: Customize the background color, text color, and font size for the table.
     
   []Enhanced Alerts:
   • Price Level Alerts: Alerts can now notify you when the price reaches the entry, stop loss, or any of the take profit levels.
     

How to Use the New Features:

1. []Setup Inputs:
   Enter your updated account size, risk percentage, and dollars per point in the script settings. Specify entry and stop-loss prices to calculate the optimal number of contracts to risk.
   []Customize Visuals:
   Adjust the colors, sizes, and positions of the entry, stop-loss, and take-profit lines to match your preferences. Use the label position and size options to improve the readability of your chart.
   []Define Take Profits:
   Set the desired risk-reward ratios for up to three take-profit levels, with the option to manually set a fourth take-profit level.
   []Monitor Risk:
   The script calculates and displays the number of contracts to risk based on your inputs. This information is dynamically updated and shown in a customizable table on the chart.
   
2. Set Alerts:
   Enable alerts to be notified when the price reaches key levels, ensuring you stay on top of market movements.
   

Example Settings:

• []Account Size: 723
  []Risk Percentage: 5.0%
  []Dollars Per Point: 2.0
  []Show Take Profit 1-4: Customize visibility as needed.
  []Label Size: Small/Normal/Large
  []Table Position: Top Right (or any preferred position)
  
• Show/Hide Table Rows: Customize which rows are displayed in the table.
  

4. Aug.

Versionshinweise

📢 Risk Management Calculator - Update Announcement 📢

Dear Traders,

I am excited to announce a new version of the Risk Management Calculator - TradersTavern, packed with improvements and new features to enhance your trading experience. Here is a detailed list of all the changes and improvements made:

🆕 New Features and Improvements

1. Line Colors UpdatedEntry Line Color: Changed to teal for better visibility.
   Stop Loss Line Color: Updated to orange.
   Take Profit Line Colors:
   Take Profit 1: Updated to green.
   Take Profit 2: Updated to purple.
   Take Profit 3: Updated to blue.
   
2. Table Appearance SettingsTable Border: New option to enable or disable the table border.
   Table Background Colors: Gradient colors added for better visual distinction.
   
3. Table Font Size Options
   
   More font size options to choose from: Small, Normal, and Large.
   
4. Label Improvements
   
   Labels now support different sizes and positions.
   Improved visibility settings for entry, stop loss, and take profit lines.
   
5. Enhanced Table Visibility Options
   
   Customizable visibility for risk amount, entry price, stop loss price, trade direction, reward-to-risk ratios, and potential profit values.
   New table gradient colors to enhance readability.
   
6. Improved Input Parameters
   
   More intuitive and user-friendly input parameters.
   Tooltip updates for clearer guidance.
   
7. Performance Optimizations
   
   Streamlined calculations for risk and reward metrics.
   More robust handling of input errors and edge cases.
   
8. Bug Fix
   
   Fixed a bug causing short trades' potential profit to show as negative values.
   

📊 Feature Overview

• []Account Size: Total size of your trading account in dollars.
  []Risk Percentage: Percentage of your account to risk per trade.
  []Dollars Per Point: Dollar value per point movement in the instrument being traded.
  []Entry and Stop Loss Prices: Set your entry and stop loss levels with color customization.
  []Take Profit Lines: Four customizable take profit lines with toggle visibility and color options.
  []Risk-Reward Ratios: Three adjustable risk-reward ratios to fit your trading strategy.
  []Labels and Positions: Customizable label sizes and positions for entry, stop loss, and take profit lines.
  []Table Position and Appearance: Set the table position on the chart and customize its appearance with font size and border options.
  []Alerts: Set alerts for when the price reaches entry, stop loss, or take profit levels.
  []Documentation: Updated and clear documentation within the script for better user understanding.
  

🛠️ How to Update

Please update your script to the latest version to enjoy these new features and improvements. If you have any questions or need assistance, feel free to reach out to me.

Reminder: For access to the indicator, please join my free Discord and request access in the indicator channel.

discord.gg/NGG5apMeSm

Happy Trading!

Best regards,
Hobo,
Founder of TradersTavern

4. Aug.

Versionshinweise

Hello Traders,

I'm excited to announce some significant updates and improvements to the Enhanced Risk Management Calculator. These enhancements are designed to provide you with greater flexibility, accuracy, and ease of use. Below, you'll find a detailed breakdown of the changes and how they benefit you in various trading scenarios.

Key Improvements:
Tick Value Integration:

Old: The script did not account for the tick value.
New: A new input for Tick Value has been added. This allows the script to round price values to the nearest tick, ensuring precise price calculations and enhancing compatibility with different instruments.
Benefit: This ensures your calculations are accurate to the smallest price movement specific to your trading instrument, reducing errors in risk management.

Label Display Mode:

Old: Labels displayed only the price.
New: Added a new option for Label Display Mode with choices of displaying labels as Price, Percentage, or Dollar Value.
Benefit: This gives you the flexibility to view your entry, stop loss, and take profit levels in a format that best suits your trading style and strategy.

Enhanced Formatting and Calculation:

Old: Prices were formatted to two decimal places.
New: Prices are now formatted according to the tick value, providing more precise entries and exits.
Benefit: Ensures that your trading levels align perfectly with market standards, avoiding discrepancies caused by manual rounding.

Improved Take Profit Calculations:

Old: Take profit levels were calculated directly without considering tick rounding.
New: Take profit levels are now calculated and formatted according to the tick value.
Benefit: This refinement ensures that all take profit levels are market compliant, enhancing the reliability of your exit strategies.

Customizable Labels and Positions:

Old: Limited label customization options.
New: Added customizable options for label sizes and positions, including a more intuitive handling of labels above, below, or beside the lines.
Benefit: This customization allows for a clearer, more personalized chart view, making it easier to analyze and act on your trades.

Future Enhancements:
I am continuously working to improve your trading experience. In upcoming updates, I plan to introduce the ability to switch between RR (Risk-Reward) management mode and manual risk management mode. This will include the capability to slide the profit target lines on the chart to your custom positions, providing even greater flexibility and control over your trading strategies.

I hope these updates enhance your trading experience and improve your risk management precision. I value your feedback and suggestions as I strive to make TradersTavern the best tool for your trading needs.

Happy Trading!

Hobo
Founder of TradersTavern

5. Aug.

Versionshinweise

Update Notes for "Risk Management Calculator - TradersTavern"

New Features:

1. []ATR-Based Stop Loss and Take Profit:
   • []New Option: You can now use ATR (Average True Range) to calculate Stop Loss and Take Profit levels.
     []Benefits: ATR-based levels adjust dynamically to market volatility, providing more accurate and flexible risk management.
     []Scenarios: Ideal for traders who want their Stop Loss and Take Profit levels to adapt to changing market conditions, ensuring they are neither too tight nor too loose.
     
   • How to Use: Enable the "Use ATR for SL and TP" option in the "Entry and Stop Loss" settings. Configure the ATR Length and Multipliers as desired.
     
   []Profit Target Prices in Table:
   • []New Option: Display profit target prices directly in the table.
     []Benefits: Easily monitor your profit targets in the table, improving clarity and convenience.
     []Scenarios: Useful for traders who prefer to see all key price levels, including profit targets, in a single table for quick reference.
     
   • How to Use: Enable the "Show Profit Target Prices" option in the "Table Visibility" settings.
     

For access join the discord server and follow the instructions in the Request Access Channel

5. Aug.

Versionshinweise

Risk Management Calculator Update

What's New:

• [] ATR Locking: Introducing the ability to lock ATR (Average True Range) values at the time of entry to prevent active changes during the trade.
  [] Improved ATR Calculations: The ATR-based Stop Loss and Take Profit calculations now utilize a locked ATR value for more consistent risk management.
  
• UI Enhancements: Refined the user interface for better readability and customization options.
  

Improvements:

• [] Consistency in ATR Usage: With the new ATR locking feature, once the entry is set, the ATR value used for calculating Stop Loss and Take Profit levels remains constant, providing more reliable risk management.
  [] Enhanced Customization: Users can now decide whether to lock ATR values at entry, adding flexibility to the risk management strategy.
  

Use Case Scenarios:

• [] Intraday Trading: Perfect for day traders who need consistent risk parameters throughout their trades.
  [] Swing Trading: Ideal for swing traders who prefer to lock in risk parameters at the trade entry point to avoid adjustments due to market volatility.
  

Join the Community:
For access to the enhanced indicator and to join discussions with fellow traders, join the TradersTavern Discord. Follow the instructions in the Request Access channel to get started.

Happy Trading!