Trade Calculator

October 18th, 2018, 02:31 PM

Given my rather limited skills in terms of scripting/programming, I've been trying to construct a trade calculator. As a result, please find below what I have put together so far:

Code

input ATRlength = 10; # default length = 14 - can range anywhere from 6 to 21
def priceC = close;
input averageType = AverageType.WILDERS;
input ATRmultiplier = 1.50; # default multiplier = 2.0 - can range anywhere from 1.0 to 5.0
def ATR = MovingAverage(averageType, TrueRange(high, close, low), ATRlength);
def avgDailyMovement = (ATR / priceC) * 100;
input profitMultiplier = 3.00;

input AccountEquity = 100000.00;
input PercentRiskPerTrade = 0.005;
def EquityRiskPerTrade = AccountEquity * PercentRiskPerTrade;

def SharesToBuy = (EquityRiskPerTrade / (avgDailyMovement * ATRmultiplier));
def currentPositionSize = SharesToBuy * priceC;

def stopAmount = avgDailyMovement * ATRmultiplier;
def longSellStop = priceC - stopAmount;
def shortBuyStop = priceC + stopAmount;

def profitTarget = avgDailyMovement * profitMultiplier;
def longSellLimit = priceC + profitTarget;
def shortBuyLimit = priceC - profitTarget;

AddLabel(yes, "Shares to Buy: " + Round(SharesToBuy, 0), CreateColor (255, 255, 255));
AddLabel(yes, "Position Size: " + Round(currentPositionSize, 2), CreateColor (255, 255, 255));

AddLabel(yes, "Long SELL Stop: " + Round(longSellStop, 2), CreateColor (255, 255, 255));
AddLabel(yes, "Long SELL Limit: " + Round(longSellLimit, 2), CreateColor (255, 255, 255));

AddLabel(yes, "Short BUY Stop: " + Round(shortBuyStop, 2), CreateColor (255, 255, 255));
AddLabel(yes, "Short BUY Limit: " + Round(shortBuyLimit, 2), CreateColor (255, 255, 255));

I'm happy to say it works, just not necessarily as intended to some degree.

Depending on what timeframe I'm on, I get a wide degree of suggested trade numbers to "plug" in to a current trade, as shown below:

Here's the current quote:

5 min Calculator:

Hourly Calculator:

Daily Calculator:

Weekly Calculator:

Monthly Calculator:

The "farther out" you go, the less it suggests to buy and further suggests very wide stops. Whereas, the "closer in" you go, the more it suggests to buy and further suggests very tight stops. Also, depending on the Stock/ETF selected, it will sometimes recommend very large purchases that far exceed the size of the account (AccountEquity)...

Thanks in advance for any help/insights/feedback...

Trade Calculator

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Trade Calculator