TheTradingParrot

Add funds simulator

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This script is intended to help understanding better and practice how to exit DCA deals that are in negative.

Multiple factors factors are relevant when trying to exit a bad deal:
  • How much funds are invested
  • What's the current average position price
  • How far the price has already dropped from that average
  • Is the price bouncing significantly and frequently to the upside providing multiple opportunities to exit or is it still a free-falling knife dumping heavy?
  • What are your TP % expectations

This scripts allows you to enter all these parameters visualising them all together in a single chart.

The RSI exit strategy
You can then make use of a simple exit strategy based on RSI .
The strategy will trigger entries where you are planning to add funds.
The chart will show you based on all this information how much funds you would have required to exit in profit and rescue the deal in green.
It will also flag if the exit strategy would have failed by plotting a red label indicating all the times where the TP wouldn't have been reached.

Comments
Adding funds to a red deal and making it worst is one of the worst nightmares of traders using dollar-cost-average strategies.
I hope this script can help you visualise better and practice adding funds in a safe chart before ever jumping into real-money!
If you guys like this script we can add more features in the future, just leave a comment if you have new ideas.
Nota Keluaran:
Fix for chart not displaying when timeframe was higher than 15 minutes.

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Skrip dilindungi
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Penafian

Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.

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