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Need to have a fairly simple Tradestation EasyLanguage indicator developed. Must work on TS 9.5.
Screen shot mock up available.
-Account size (in dollars)
-Amount to risk (in percent, default is 2%)
Variable = amount to risk on trade = (Account Size*Amount to Risk)
Example: Account size: $10,000, Amount to Risk = 2%, Amount to risk on trade = $10,000*.02 = $200
Draw 3 horizontal lines on chart:
-Entry price (initial value is last bar price). Label on line: "Shares/Contracts to purchase = X" formula for X is number of shares/contracts that = amount to risk on trade, rounded down to nearest share/contract. Line must be drag-able to any point on chart.
-Target Line (initial value is 10% above last bar price) Label on line: "Target Profit = $ R/R = Y" $ is calculated from number of shares/contracts from Entry Price to Target. Y is the ratio of Target Profit to Stop loss amount. Target line needs to be drag-able above or below the Entry price line and adjust if entry ...
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