Donchian Strategy - Dynamic TP, Fixed SL, 1% Risk, Daily Target

// This Pine Script™ code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
// © Ahmed - Quant-Edge Indicators
//@version=6
strategy("Donchian Strategy - Dynamic TP, Fixed SL, 1% Risk, Daily Target", overlay=true, default_qty_type=strategy.cash, default_qty_value=100000)

// === INPUTS ===
length = input.int(20, title="Donchian Channel Length")
riskPercent = input.float(1.0, title="Risk per Trade (%)", step=0.1)
daily_target = input.float(500, title="Daily Profit Target ($)", step=50)

// === DONCHIAN CHANNELS ===
donchian_high = ta.highest(high, length)
donchian_low = ta.lowest(low, length)
donchian_mid = (donchian_high + donchian_low) / 2
plot(donchian_high, color=color.green, title="Upper Channel")
plot(donchian_low, color=color.red, title="Lower Channel")
plot(donchian_mid, color=color.gray, title="Middle Channel")

// === CHANNEL TOUCH DETECTION ===
var bool touched_upper = false
var bool touched_lower = false

if high >= donchian_high
    touched_upper := true

if low <= donchian_low
    touched_lower := true

// === RISK CALCULATION ===
capital = strategy.equity
risk_amount = capital * (riskPercent / 100)

// === FIXED SL ===
var float entry_price = na
var float stop_price = na

// === NEW DAY DETECTION ===
current_session = year(time) * 10000 + month(time) * 100 + dayofmonth(time)
var int saved_session = na
var float daily_profit = 0.0

if na(saved_session) or current_session != saved_session
    saved_session := current_session
    daily_profit := 0.0

// === UPDATE ACCUMULATED PROFIT ===
daily_profit += strategy.netprofit - strategy.netprofit[1]

// === CAN TRADE TODAY? ===
can_trade_today = daily_profit < daily_target

// === BUY ===
long_condition = touched_upper and close <= donchian_mid
long_sl = donchian_low
long_entry = close
long_risk_per_unit = math.abs(long_entry - long_sl)
long_qty = long_risk_per_unit > 0 ? risk_amount / long_risk_per_unit : 0

if long_condition and strategy.position_size == 0 and can_trade_today
    entry_price := long_entry
    stop_price := long_sl
    strategy.entry("Buy", strategy.long, qty=long_qty)
    touched_upper := false

// === SELL ===
short_condition = touched_lower and close >= donchian_mid
short_sl = donchian_high
short_entry = close
short_risk_per_unit = math.abs(short_entry - short_sl)
short_qty = short_risk_per_unit > 0 ? risk_amount / short_risk_per_unit : 0

if short_condition and strategy.position_size == 0 and can_trade_today
    entry_price := short_entry
    stop_price := short_sl
    strategy.entry("Sell", strategy.short, qty=short_qty)
    touched_lower := false

// === Dynamic TP, Fixed SL ===
if strategy.position_size > 0
    strategy.exit("TP Buy", from_entry="Buy", stop=stop_price, limit=donchian_high)

if strategy.position_size < 0
    strategy.exit("TP Sell", from_entry="Sell", stop=stop_price, limit=donchian_low)