Trade Manager

Hello everyone

Hoped you had a great weekend and are ready for what's coming this week
I'll never fail to satisfy my audience on TradingView and I'll start by sharing some heavy stuff.... Imagine the most amazing thing you had in your life. You got it ? now multiply this good feeling by 100 !!! OK... now I have a tool that is beyond that litteraly. Don't believe me, here's the Trade Manager ladies and gentlemen, I could barely contain my excitement this weekend to share it with the community

I wasn't sure of sharing it but you guys did a great job with my other indicators giving me constructive feedback to improve them. Also, those helping me with such feedback usually get the indicator for a lifetime access for free.

Please read this educational post I published for you before proceeding further : How-to-set-an-indicator-to-work-with-the-Trade-manager/

From here you normally connected the data source of your own indicator to the Trade Manager. If not, here's a reminder of the article mentionned above

Step 1 - Update your indicator

Somewhere in the code you'll have a LONG and a SHORT condition. If not, please go back to study trading for noobs (I'm kidding !!!)
So it should look to something similar

macrossover = crossover(MA1, MA2)
macrossunder = crossunder(MA1, MA2)

What you will need to add at the very end of your script is a Signal plot that will be captured by the Trade Manager. This will give us :

// Signal plot to be used as external
// if crossover, sends 1, otherwise sends -1
Signal = macrossover ? 1 : macrossunder ? -1 : na
plot(Signal, title="Signal")

The Trade Manager engines expects to receive 1 for a bullishg signal and -1 for bearish .

Step 2 - Add the Trade Manager to your chart and select the right Data Source

I feel the questions coming so I prefer to anticipate :) When you add the Trade Manager to your chart, nothing will be displayed. THIS IS NORMAL because you'll have to select the Data Source to be "Signal"
Remember our Signal variable from the Two MM Cross from before, now we'll capture it and.....drumb rolll...... that's from that moment that your life became even more AWESOME

The Engine will capture the last signal from the MM cross or any indicator actually and will update the Stop Loss, Take Profit levels based on the parameters you set on the Trade Manager

Now I'll cover the different parameters of the tool

It should be straightforward but better to explain everything here

+Label lines : if unchecked, no SL/TPs/... will be displayed
+Show indicators : This does nothing. Tradingview doesn't give the possibility to set Labels on an UI so we have to use this hack with a useless checkbox
+Show PnL Panel : Will show a Panel at the right of your chart with the PnL updated for the last position only. In a future version, I'll make it work to list maybe the previous N positions defined by the user
+Show Stop Loss Signal : Will display the stop loss label. You have the choice between three options :
++Percentage : Will set the SL at a percent distance from the price
++Fixed : SL fixed at a static price
++SuperTrend : Trailing stop loss based on Supertrend
'll add many more options this week for sure
+Take Profit 1,2,3 : Visually define the three Take Profit levels
Please note that once a Take profit level is reached, it will magically disappear. This is to be expected

This indicator is a first draft of what I believe is such a great tool because can be connected to any indicator. I confess that I tried it only with a few... if you find any that's not working with the Trade manager, please let me know and I'll have a look (for free)

I'm so excited to share it with all of you and that's the best possible way I could ever dreamt of to start the week with my TradingView community

Wishing you all the best and a pleasant experience with my work
David

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- decommissioned script