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
From an account size, risk percentage, leverage and fee estimate, plus a long or short direction, it works out position size, stop distance and a target at a chosen R multiple. Entry can be the chart close or a manual price, and the stop can be manual or an ATR-based fallback. Risk is labelled in bands from safe to extreme, with margin use checks and optional alerts. It places no orders.
The inputs you can change from the gear icon on the chart. Defaults are the author's.
Setting
Type
Default
Variable
Account size
float
1000.0
accountSize
Risk per trade %
float
1.0
riskPct
Leverage
float
3.0
leverage
Round-trip fee estimate %
float
0.08
feePct
Direction
string
Long
direction
Use chart close as entry
bool
true
useChartClose
Manual entry price
float
0.0
manualEntry
Manual stop price
float
0.0
manualStop
ATR length for fallback stop
int
14
atrLen
Fallback stop ATR multiple
float
1.5
stopAtrMult
Target R multiple
float
2.0
targetR
Safe max risk %
float
1.0
safeRiskMax
Show all 18 settings
Setting
Type
Default
Variable
Risky max risk %
float
2.0
riskyRiskMax
Dangerous max risk %
float
5.0
dangerousRiskMax
Max safe margin use %
float
50.0
maxMarginUsePct
Show calculator table
bool
true
showTable
Table location
string
Top Right
tableLocation
Enable risk alerts
bool
true
enableAlerts
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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