This script enable you to dynamically calculate your position size or amount of shares you should use, based off your dollar risk level.
The script is set up for short seller.
e.g. if you would like to risk $100.00 what is the shares you should trade based off that.
If you wanted to risk $100.00 and you enter current price at 2.00 and your stop lost is 1.90.
the script will dynamically tell you the shares you should use if 1,000.
There is other function like look back period where you could specify how many candles you wish the risk level to hold at that level.
The script will be able to help in calculating the shares based on your current average shares of your current position.
Example, based on the above you have short 500 shares at 1.90 risk 2.00, you maybe enter the average shares and current position,
The script will help you calculate the amount of remaining shares you can trade netting of your initial trade.
the above the trader has risked $50.00 so there is a remainder of $50.00.
If the price is currently at 1.80 and risk off 2.00 the script will show 250 shares.
The script is set up for short seller.
e.g. if you would like to risk $100.00 what is the shares you should trade based off that.
If you wanted to risk $100.00 and you enter current price at 2.00 and your stop lost is 1.90.
the script will dynamically tell you the shares you should use if 1,000.
There is other function like look back period where you could specify how many candles you wish the risk level to hold at that level.
The script will be able to help in calculating the shares based on your current average shares of your current position.
Example, based on the above you have short 500 shares at 1.90 risk 2.00, you maybe enter the average shares and current position,
The script will help you calculate the amount of remaining shares you can trade netting of your initial trade.
the above the trader has risked $50.00 so there is a remainder of $50.00.
If the price is currently at 1.80 and risk off 2.00 the script will show 250 shares.