BTMM Comprehensive Risk Management is an overlay indicator that calculates position sizing, stop loss levels, and multiple take profit targets based on the Beat The Market Maker methodology.
1Copy the scriptPress Copy script above. It reads the file straight from GitHub.
2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
3Paste over the templateCreate a new indicator, select all of the template text and paste. Press Save and give it a name.
4Add it to the chartPress Add to chart, then adjust the settings with the gear icon next to its name.
Source Code
The code stays on GitHub. The author has not published this script under an open licence, so ForexR does not show its code. Copy script reads the file straight from GitHub into your clipboard, so you can still try it on your own chart. Ask the author before reusing the code anywhere else.
Overview
BTMM Comprehensive Risk Management supports various stop loss methods including ATR, EMA, Asian Range, pattern levels, and manual pip inputs. Position sizes can be determined via fixed risk percentage, fixed amounts, Kelly criterion, or volatility adjustments. It draws risk-to-reward zone boxes, stop loss and target lines directly on the price chart, and displays an onscreen dashboard table summarizing trade parameters, daily risk limits, and position sizing details.
The inputs you can change from the gear icon on the chart. Defaults are the author's.
Setting
Type
Default
Variable
Account Size ($)
float
10000.0
account_size
Risk Per Trade (%)
float
1.0
risk_per_trade
Max Daily Risk (%)
float
3.0
max_risk_per_day
Use Fixed Dollar Risk
bool
false
use_fixed_dollar_risk
Fixed Dollar Risk ($)
float
200.0
fixed_dollar_risk
Compound Profits
bool
true
compound_profits
Primary Stop Loss Method
string
ATR
sl_method
ATR Multiplier
float
1.5
atr_multiplier
ATR Length
int
14
atr_length
Manual SL (Pips)
float
20.0
manual_sl_pips
Use Pattern Levels Override
bool
true
use_pattern_levels
Show Stop Loss Levels
bool
true
show_sl_levels
Show all 39 settings
Setting
Type
Default
Variable
Base R:R Ratio
float
2.0
base_rr_ratio
Dynamic R:R Adjustment
bool
true
dynamic_rr_adjustment
Show Multiple TP Levels
bool
true
show_multiple_targets
TP1 R:R Ratio
float
1.0
tp1_ratio
TP2 R:R Ratio
float
2.0
tp2_ratio
TP3 R:R Ratio
float
3.0
tp3_ratio
Position Sizing Method
string
FIXED_RISK
position_method
Fixed Lot Size
float
0.1
fixed_lot_size
Max Position Size (Lots)
float
2.0
max_position_size
Kelly Win Rate
float
0.6
kelly_win_rate
Volatility Lookback Period
int
20
volatility_lookback
Show Risk Management Dashboard
bool
true
show_risk_table
Show R:R Zone Boxes
bool
true
show_rr_zones
Show Risk/Reward Lines
bool
true
show_risk_levels
Show Position Information
bool
true
show_position_info
Show Risk Statistics
bool
true
show_statistics
Bullish Zone Color
color
color.new(color.green, 75)
bullish_color
Bearish Zone Color
color
color.new(color.red, 75)
bearish_color
Stop Loss Line Color
color
color.red
sl_line_color
Take Profit Line Color
color
color.green
tp_line_color
Line Width
int
2
line_width
Label Size
string
normal
label_size
Enable Risk Management Alerts
bool
true
enable_risk_alerts
Position Size Alerts
bool
true
enable_position_alerts
R:R Achievement Alerts
bool
true
enable_rr_alerts
Risk Breach Warnings
bool
true
enable_risk_breach_alerts
Alert Frequency
string
once_per_bar
alert_frequency
Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.
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