Trade size calculator

This script will calculate recommended Trade Size based on your Risk appetite, Trading style and Current market volatility. Once you input “RiskPerTrade” amount, It automatically adjusts recommended Trade Size for changes in markets behavior. You have an option to select “Long Term”, “Short Term” & “Intraday” as your Trade Type. Your Rec Size (Trade Size) will be calculated and printed on you chart.

How it works:

• It calculates recommended trade size using your accepted risk (RiskPerTrade input) and instruments current average price range.
  
• It uses different multipliers to adjust the trade size based on your Trade Type.
  
• Intraday trades are assumed to be closed within the same trading session and therefore will have the highest recommended size.
  
• Short Term trades assume the overnight risk added to the positions and recommend a lower size.
  
• Long Term trades assume overnight & weekend risk added to the position and therefore recommend the smallest size.
  

Your Trade Size is the key to Risk Management. This Indicator is simple but powerful when used with a good Portfolio Management Strategy. Just add the indicator to your chart and configure its inputs as per your trade plan.

How to configure the Indicator

• Input 1 - Add RiskPerTrade amount
  
• Input 2 - Select your Trade Type
  
• Input 3 - Add a negative number in BarsRight to position the label in the desired location of your screen.
  

Important Display Setting - “BarsRight” Input - If you CAN'T SEE the Yellow Label on the chart after you added the indicator, set this number to a large negative no. for example -200 and then adjust the number to get the label positioned where you would like. This happens due to various screen formats and resolutions.

Please note: This indicator is designed for Equities, Stocks or ETFs only. For users in markets not priced in US dollar, make sure your instrument’s price and your RiskPerTrade amount are in the same currency.