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Advanced Position Size Source Code (Forex)

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Sunil Jadhav
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9 views

Advanced Position Size Source Code (Forex)

Uploaded by

Sunil Jadhav
Copyright
© © All Rights Reserved
Available Formats
Download as TXT, PDF, TXT or read online on Scribd
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// This source code is subject to the terms of the Mozilla Public License 2.

0 at
https://mozilla.org/MPL/2.0/
// © ZenAndTheArtOfTrading / www.PineScriptMastery.com
// @version=5
strategy(title="Breakout Strategy", overlay=true, currency="USD")

// Import ZenLibrary
import ZenAndTheArtOfTrading/ZenLibrary/3 as zen

// Get user input


res = input.timeframe(title="Timeframe", defval="D")
rr = input.float(title="Risk:Reward", defval=1.0)
stopMultiplier = input.float(title="Stop Multiplier", defval=1.0)
lookback = input.int(title="Stop Lookback", defval=1)
riskPerTrade = input.float(title="Risk Per Trade %", defval=1.0)

// Get highs and lows


dailyHigh = request.security(syminfo.tickerid, res, high[barstate.isrealtime ? 1 :
0])
dailyLow = request.security(syminfo.tickerid, res, low[barstate.isrealtime ? 1 :
0])

// Detect unique breakout for today


var bullishBreakoutToday = false
var bearishBreakoutToday = false
newDay = ta.change(time("D"))
if newDay
bullishBreakoutToday := false
bearishBreakoutToday := false

// Get ATR
atr = ta.atr(14)

// Check for breakouts


bullishBO = close > dailyHigh and close[1] <= dailyHigh and not
bullishBreakoutToday and not na(atr) and strategy.position_size == 0
bearishBO = close < dailyLow and close[1] >= dailyLow and not bearishBreakoutToday
and not na(atr) and strategy.position_size == 0

// Get stops & targets


longStop = ta.lowest(low, lookback) - (atr * stopMultiplier)
shortStop = ta.highest(high, lookback) + (atr * stopMultiplier)
longStopDist = close - longStop
shortStopDist = shortStop - close
longTarget = close + (longStopDist * rr)
shortTarget = close - (shortStopDist * rr)

//------------- DETERMINE CURRENCY CONVERSION RATE -------------//


// Check if our account currency is the same as the base or quote currency or
neither (for risk $ conversion purposes)
accountSameAsCounterCurrency = strategy.account_currency == syminfo.currency
accountSameAsBaseCurrency = strategy.account_currency == syminfo.basecurrency
accountNeitherCurrency = not accountSameAsCounterCurrency and not
accountSameAsBaseCurrency
// Get currency conversion rates if applicable
conversionCurrencyPair = accountSameAsCounterCurrency ? syminfo.tickerid :
strategy.account_currency + syminfo.currency
conversionCurrencyRate = accountSameAsBaseCurrency or accountNeitherCurrency ?
request.security(conversionCurrencyPair, "D", close, ignore_invalid_symbol=true) :
1.0
// Display the current conversion currency ticker (for debug purposes)
if barstate.islastconfirmedhistory
table t = table.new(position.top_right, 1, 1, color.black)
table.cell(t, 0, 0, "Conversion: " + conversionCurrencyPair + " (" +
str.tostring(conversionCurrencyRate) + ")", text_color=color.white,
text_size=size.small)
//------------- END CURRENCY CONVERSION RATE CODE -------------//

// Save stop & target


var float t_stop = na
var float t_target = na

// If bullish breakout detected today, disable any future signals for today
if bullishBO
bullishBreakoutToday := true
t_stop := longStop
t_target := longTarget
positionSize = zen.av_getPositionSize(strategy.equity, riskPerTrade,
zen.toWhole(longStopDist) * 10, conversionCurrencyRate)
stopLabelText = str.tostring(longStopDist / syminfo.mintick / 10, "#.#")
strategy.entry(id="Long", direction=strategy.long, qty=positionSize,
comment="Long (SL=" + stopLabelText + " pips)")

// If bearish breakout detected today, disable any future signals for today
if bearishBO
bearishBreakoutToday := true
t_stop := shortStop
t_target := shortTarget
positionSize = zen.av_getPositionSize(strategy.equity, riskPerTrade,
zen.toWhole(shortStopDist) * 10, conversionCurrencyRate)
stopLabelText = str.tostring(shortStopDist / syminfo.mintick / 10, "#.#")
strategy.entry(id="Short", direction=strategy.short, qty=positionSize,
comment="Short (SL=" + stopLabelText + " pips)")

// Check long stops & targets being hit


strategy.exit(id="Long Exit",
from_entry="Long",
limit=t_target,
stop=t_stop,
when=strategy.position_size > 0,
comment="Long Exit (Equity: " + str.tostring(strategy.equity, "###,###,###") +
")")

// Check short stops & targets being hit


strategy.exit(id="Short Exit",
from_entry="Short",
limit=t_target,
stop=t_stop,
when=strategy.position_size < 0,
comment="Short Exit (Equity: " + str.tostring(strategy.equity, "###,###,###")
+ ")")

// Draw highs and lows to the chart


plot(dailyHigh, color=color.red, linewidth=2)
plot(dailyLow, color=color.green, linewidth=2)

// Draw signals
plotshape(bearishBO, title="Bearish Breakout", style=shape.triangledown,
location=location.abovebar, color=color.red)
plotshape(bullishBO, title="Bullish Breakout", style=shape.triangleup,
location=location.belowbar, color=color.green)

// Draw stops & targets


plot(strategy.position_size != 0 ? t_stop : na, color=color.red,
style=plot.style_linebr, title="Trade Stop")
plot(strategy.position_size != 0 ? t_target : na, color=color.green,
style=plot.style_linebr, title="Trade Target")

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