Fixed price Stop Loss [Takazudo] — Strategy by Takazudo
By Takazudo
Performance Metrics
- Author: Takazudo
- Symbol: OANDA:AUDUSD
- Timeframe: 4 hours
- Net P&L: +726.19 USD (0.00%)
- Win Rate: 37.0%
- Profit Factor: 1.255
- Max Drawdown: 1,211.53 USD (278.86%)
- Total Trades: 54
- Sharpe Ratio: −0.194
Description
Apr 3, 2021This strategy is a demo for fixed price stop loss.This strategy enables you to specify fixed price stop loss. Let's say your deposit is USD. When you trade EURCAD, you need to specify the quantity for trade. Here comes three chances for trade.A: SL pips: 500B: SL pips: 200C: SL pips: 100In these trade, the risk is different for each. ABC risk ratio is 5:2:1. And, you cannot know how much to lose if the price hits the stop loss. This is a huge problem.With this strategy, You can specify the fixed risk price for each trade. If you specify 100 USD for the risk, this strategy calculates how much quantity to buy or sell for each entry. In the case above, this strategy guides you how much quantity to buy or sell like below.A: 2,000 qty (SL: 500pips)B: 5,000 qty (SL: 200pips)C: 10,000 qty (SL: 100pips)If you make entries with those quantity and the price hits the stop loss, You will lose the money like below.A: 100 USDB: 100 USDC: 100 USDThis is what this script does. Fixed price SL.I tested this caliculation for OANDA's main 28 currency pairs forex listed below.AUDUSD, EURUSD, GBPUSD, NZDUSD, USDCAD, USDCHF, USDJPY, AUDCAD, AUDCHF, AUDJPY, AUDNZD, CADCHF, CADJPY, CHFJPY, EURAUD, EURCAD, EURCHF, EURGBP, EURJPY, EURNZD, GBPAUD, GBPCAD, GBPCHF, GBPJPY, GBPNZD, NZDCAD, NZDCHF, NZDJPYI may add more pairs later.Note: The entry strategy in this script is not intented to win. Check the result. Be careful.Apr 3, 2021Release NotestypoNov 6, 2021Release Notesupdated PineScript version 4 to 5