Profit & Risk Calculator

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The "Profit & Risk Calculator" script in Pine Script (TradingView) is designed to help users calculate potential profit and risk when trading, and to provide alerts when specific price levels are reached (such as entry price, take profit, or stop loss). It includes several components as described below:

1. Input Fields:
The user can manually input various prices: entry price, stop loss price, and take profit price, with steps of 0.25.
There is also an option to input a custom value (e.g., for personal lot sizing) and a total investment amount.

2. Dynamic Lines:
The script draws dynamic horizontal lines for the input prices: entry line (white), stop loss line (red), and take profit line (green).
These lines are automatically updated based on the entered price levels.

3. Labels for the Lines:
Labels are added to the lines to visually indicate the entry, stop loss, and take profit levels on the chart.

4. Long and Short Position Calculations:
The script calculates potential profit and loss for both long (profit if the price goes up) and short (profit if the price goes down) positions.
It also calculates the distance between entry and take profit, and distance between entry and stop loss, along with the risk/reward ratio (RR).

5. Alerts:
The script generates alerts when one of the following conditions is met:
Entry Condition: The price touches or exceeds the entry price (high >= entryPrice).
Stop Loss Condition: The price touches or drops below the stop loss price (low <= stopLossPrice).
Take Profit Condition: The price touches or exceeds the take profit price (high >= takeProfitPrice).

6. Lot Calculations:
The script calculates both micro and mini lot sizes based on a preset table and the custom value.
The results are displayed in a table on the chart.

7. Profit/Risk Table:
The script shows two tables:
One table calculates the profit, loss, and risk/reward ratio based on the input entry price.
A second table shows the same calculations based on the current price.

8. Chart Display:
The script places tables and other visual data on the chart, such as preset values, profit and loss calculations, and the distance from take profit and stop loss to the entry price.

English Explanation of Each Part of the Script

1. Input Fields
The script starts with several input fields where the user can specify the entry price, stop loss price, take profit price, custom value, and investment amount. These values help define the parameters for risk/reward calculations.

2. Dynamic Horizontal Lines
Three horizontal lines are drawn on the chart, representing the entry price, stop loss price, and take profit price. These lines update dynamically based on user input.

3. Dynamic Line Updates
As the user adjusts their inputs, the position of the lines is updated in real-time to match the new price levels. This keeps the chart visually accurate.

4. Labels for Lines
Labels are placed on the chart next to each price line, allowing the user to clearly see which line represents which price level.

5. Long and Short Position Calculations
The script calculates the potential profit or loss for both long (prices go up) and short (prices go down) positions, providing users with an idea of their potential gains or losses.

6. **6. Risk/Reward Ratio Calculation
This calculates the Risk/Reward Ratio (RR) by dividing the distance between the take profit and entry price by the distance between the entry and stop loss price. This gives the trader an idea of how much risk they're taking relative to the potential reward.

7. Alert Conditions
The alert conditions are defined based on the price hitting the set levels:

Entry Condition: If the price goes up and touches the entry level, the alert is triggered.
Stop Loss Condition: If the price drops and hits the stop loss level, the alert is triggered.
Take Profit Condition: If the price rises and reaches the take profit level, the alert is triggered.
8. Alert Configuration
Each condition is linked to an alert that sends a message when the specific price level is touched. The alerts notify the user when the entry, stop loss, or take profit levels are hit.

9. Lot Calculations
The script includes a function that calculates micro and mini lot sizes based on a preset table and a custom value input by the user. This is useful for adjusting lot sizes to the desired amount and determining position sizes for trades.

10. Entry Price-Based Profit & Loss Table
A table is generated on the chart that displays detailed information about the profit, loss, and risk/reward ratio based on the entry price. It helps traders see the potential outcomes for different lot sizes.

11. Current Price-Based Profit & Loss Table
This second table provides similar information as the first but calculates profit, loss, and risk/reward based on the current price. This allows the trader to see how their position performs as the market price changes in real time.