Multi-Entry Fibonacci Calculator

Multi-Entry Fibonacci Calculator
This tool is a comprehensive trade calculator designed for discretionary traders who plan to scale into positions. It automates the complex task of position sizing across up to three separate entries while ensuring your total risk exposure remains fixed. By inputting your desired entry, stop loss, and initial profit target levels, the script calculates the precise quantity for each entry and provides a dynamic, real-time view of your trade's vitals.

The primary goal of this script is to allow for disciplined risk management in multi-entry trade plans. Whether you are averaging into a position or adding on pullbacks, this tool ensures your total predefined risk is never exceeded, even if all entries are filled.

Key Features
Multi-Entry Position Sizing: Automatically calculates the share/contract size for up to three entries based on their distance from the stop loss and user-defined weights.

Fixed Risk Management: Define your total risk as a percentage of your account. The script ensures that a full stop-out across all filled entries will result in a loss equal to this predefined amount.

Dynamic Take Profit: The take-profit level automatically adjusts based on your current average entry price to preserve the original target profit amount in dollars.

Real-Time Info Panel: A customizable on-chart panel displays all critical trade data, including current quantity, average price, projected P&L, and trade status.

Visual Trade Plan: Plots all your defined price levels (entries, stop loss, take profit) directly on the chart with informative labels.

Trade State Tracking & Alerts: The script monitors the price and will trigger alerts when entries are hit, or when the stop loss or take profit levels are reached.

How to Use
Configure Account & Risk: In the settings, enter your "Account Size" and the "Risk per Trade (%)" you are willing to take on the entire position.

Set Trade Direction: Choose either "LONG" or "SHORT".

Input Price Levels: Manually enter the prices for your entries (Entry 1, 2, 3), your "Stop Loss Price," and an "Initial TP Reference." The initial TP is used to calculate the target profit in dollars.

Distribute Position Weight: Assign weights to each entry (e.g., 50% for Entry 1, 30% for Entry 2, 20% for Entry 3). The total should sum to 100.

Monitor the Trade: Use the info panel and on-chart visuals to track the trade's progress. The script will show your average price as entries are filled and update the dynamic take-profit level accordingly.

Understanding the Calculations
Weighted Position Sizing: The script calculates sizes for each entry so that if all entries are filled and the stop loss is hit, your total loss will equal your predefined risk amount. It intelligently allocates size based on the distance of each entry from the stop loss and the weight you assign to it.

Dynamic Take Profit: The "Initial TP Reference" is used only to calculate a target profit in dollars based on your first entry's size. The script then calculates a dynamic TP line on your chart. This line adjusts based on your average entry price as positions are filled, ensuring that if price reaches this level, you will realize your original target dollar profit, regardless of how many entries were filled.

On-Chart Elements
Price Lines: Blue lines for entries, a red line for the stop loss, and a green line for the dynamic take profit.

Labels: Display the calculated quantity for each entry, the total risk amount at the stop loss, and the target profit amount at the take profit.

Average Price: Yellow circles plot your live average entry price as the position is built.

Info Panel: A comprehensive table showing live trade status, current quantity, average price, and projected profit/loss. The panel changes color to green on a TP hit and red on an SL hit.