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Library · Pine Script v6 · Library
CodonRiskManager
This library calculates position size for trading strategies based on a percentage of equity to risk and the distance to the stop loss price.
GitHub stars1on the repository
Pine versionv6current
Lines of code19
Settings0inputs
LicenceMIT
Last update10 months ago29 Dec 2025
Add It to Your TradingView Chart
- 1Copy the scriptPress Copy script above, or the copy button on the code below.
- 2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
- 3Paste over the templateCreate a new library, select all of the template text and paste. Press Save and give it a name.
- 4Publish or import itA library draws nothing. Publish it from the editor, then import its functions in your own scripts.
Source Code
19 lines of Pine Script v6 from Codon_Risk_Manager.pine, published under MIT. Keep the author's credit and licence lines when you reuse it.
// 🧬 Generated by Codon.pro | The AI Pine Script Builder
// Module: Risk Management Calculator (Position Sizing)
// Description: Calculates position size based on % risk of equity.
//@version=6
library("CodonRiskManager", overlay=true)
// @function Calculates quantity based on risk percentage and stop loss distance
// @param riskPct The percentage of equity to risk per trade (e.g., 1.0 for 1%)
// @param entryPrice The planned entry price
// @param stopLossPrice The planned stop loss price
// @returns float The calculated position size (quantity)
export calcSize(float riskPct, float entryPrice, float stopLossPrice) =>
float riskPerShare = math.abs(entryPrice - stopLossPrice)
float riskAmount = strategy.equity * (riskPct / 100)
// Safety check to prevent division by zero
float qty = riskPerShare > 0 ? (riskAmount / riskPerShare) : 0
qty
Overview
The function takes risk percentage, entry price, and stop loss price as inputs and returns the quantity of contracts or shares. It helps traders limit losses to a set fraction of their account equity without manual calculation. Main settings let users adjust the risk percentage per trade and the planned stop loss distance. The library draws no elements on the price chart as it is a utility for strategy scripts. It has no repainting or lookahead behavior.
- Position sizing calculator
- Equity risk calculation
- Stop loss distance
- Lot size quantity
- Risk percentage risk
Details
Published by
codon-pro on GitHub
Type
Library, Pine Script v6
Draws
Library (no plots)
Markets
Any symbol
Timeframes
Any timeframe
Risk Notes
No repainting, lookahead or stacked entries were found in its code or README. That says nothing about how well it works: test it first.
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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