Scalping Position Size multiplies account size by the risk percent to get the dollar risk, then divides that by a stop distance equal to the current close times the stop-loss percent. The result appears in a two-column table at the bottom left of the price chart, filled only on the last bar. Account size, risk percent, and stop percent are the main settings. It does not generate entries, exits, or orders, and the displayed size changes as the live close moves.
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
accountSize
Risk Per Trade %
float
0.5
riskPercent
Stop Loss %
float
0.15
stopLossPercent
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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