OPEN-SOURCE SCRIPT

Average SL% Calculator with TP Levels by Gorki

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Average Stop Loss And Take Profit Calculator For Futures Trading by Gorki

Description
The "Average SL% Calculator with TP Levels" script, is a simple tool for traders to plan the trades and check how much loss they are going to receive if they run this strategy. This script calculates the average price of up to four entry points, determines the percentage distance to the stop-loss level, and provides potential loss information based on margin and leverage. Additionally, it includes multiple take-profit levels to help traders systematically capture profits. Visual elements such as horizontal lines and labels make it easy to monitor key levels directly on the chart.

Why To Use This Indicator?

Risk Management: Automatically calculates the percentage distance to the stop-loss level, helping you to understand potential losses.

Profit Optimization: Supports up to four take-profit levels, enabling a structured approach to capturing gains.

Visual Clarity: Displays key levels and important information directly on the chart for easy monitoring.

Alerts: Generates alerts when the price crosses specified levels, ensuring you never miss critical trading signals.

How to Use the Script

Add the Script to Your Chart: Apply the script to your TradingView chart.

Set Input Values: Entry Points: Define up to four limit prices (LIMIT 1, LIMIT 2, LIMIT 3, LIMIT 4).

Stop-Loss: Set your stop-loss price (STOP LOSS).

Take Profits: Specify up to four take-profit levels (Take Profit 1, Take Profit 2, Take Profit 3, Take Profit 4).

Leverage: Input your leverage factor.

Margin: Enter the total margin amount for the trade.

View Calculations: The script will calculate the average entry price, the percentage distance to the stop-loss, and the potential loss based on margin and leverage.