KyleBaran Aktualisiert   
This is an indicator which uses the ATR (average true range) to calculate take profit levels, stop loss levels, and position sizing.
It acts an ATR indicator, based on concepts found in the No Nonsense Forex (NNFX) trading system.

ATR works by looking at the past N periods (14 by default) to see on average, how many pips or dollars an asset has moved. It is widely used by itself or as part of another indicator.
This script also implements money/risk management to determine:

Take Profit: 1.00x ATR (default)
Stop Loss: 1.50x ATR (default)
Risk: 2% of account size (default)
Position Sizing: How many lots/shares/units you need to achieve the indicated risk
Trade Value: The total cost of the lots/shares/units

This indicator only displays information in the status line. It does not guarantee a successful trade, and is only intended to be used to calculate take profit and stop loss levels, or as a point of reference when entering trades. Always do your own research.
  • Moved the Balance input to be the first thing so it's easier to find
  • Added support for smoothing the data
  • Added a toggle that will plot the ATR value, as in the classic ATR indicator on Trading View
  • Added a toggle that will display the ATR value as a percentage of closing price. This can help to identify volatile assets when trading.

Regarding the ATR%: this can help you find assets that are more volatile, which means you need less capital to have the same amount of risk in a trade. For example, BOIL is a much more volatile asset than SPY or XAUUSD . This value isn't intended to be used as a signal, but it can serve as a reference point. ATR calculations for TP/SL are still done using the unsmoothed, regular ATR value; this is by design.
Made a few cosmetic changes to the descriptions / typos
Updated by adding a "Relative Values" toggle. By default, the indicator shows the calculated TP and SL based on user-defined risk. If enabled, it will instead calculate the actual TP and SL levels using the current closing price.
Forgot to take longs and shorts into account! The easiest workaround for this seems to be outputting another plot line. Sorry for the confusion
Open-source Skript

Ganz im Spirit von TradingView hat der Autor dieses Skripts es als Open-Source veröffentlicht, damit Trader es besser verstehen und überprüfen können. Herzlichen Glückwunsch an den Autor! Sie können es kostenlos verwenden, aber die Wiederverwendung dieses Codes in einer Veröffentlichung unterliegt den Hausregeln. Sie können es als Favoriten auswählen, um es in einem Chart zu verwenden.


Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.

Möchten Sie dieses Skript auf einem Chart verwenden?