OPEN-SOURCE SCRIPT
ATR Position Size Automation
All you have to fill out is your account balance, the % amount of your account you want to risk, and the percentage of ATR you want calculated. If you have 100% it will do a full ATR calculation. So if the ATR is $2 then your risk per share would be $2. If you had 50% in the same example it would be risking $1 per share.
You can also customize what time frame you want the ATR to be calculating off of. Just be aware the calculation will only be right if you are showing a lower time frame on your chart then the one selected on the indicator. (If you are calculating a daily dont be on a weekly chart. You have to be on a Daily or lower)
You can select what boxes you want displayed and if you want the ATR lines on the chart.
You can also customize what time frame you want the ATR to be calculating off of. Just be aware the calculation will only be right if you are showing a lower time frame on your chart then the one selected on the indicator. (If you are calculating a daily dont be on a weekly chart. You have to be on a Daily or lower)
You can select what boxes you want displayed and if you want the ATR lines on the chart.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.