Profit Guard Pro

ProfitGuard Pro

ProfitGuard Pro is a risk management and profit calculation tool that helps traders optimize their trades by handling position sizing, risk management, leverage, and take profit calculations. With support for both cumulative and non-cumulative take profit strategies, this versatile indicator provides the insights you need to maximize your trading strategy.

How to Use ProfitGuard Pro:

Load the Indicator: Add ProfitGuard Pro to your chart in TradingView.
Set Your Entry Position: Input your desired entry price.
Define Your Stop Loss: Enter the price at which your trade will exit to minimize losses.
Add Take Profit Levels: Input your TP1, TP2, TP3, and TP4 levels, as needed.
If you want fewer take profit levels, adjust the number of TPs in the settings menu. You can choose between 1 to 4 take profit levels based on your strategy.
Adjust Risk Settings: Specify your account size and risk percentage to calculate position size and leverage.
Choose Cumulative or Non-Cumulative Mode: Toggle cumulative profit mode to either recalculate position sizes as each take profit is hit or keep position sizes static for each TP.

Once set up, ProfitGuard Pro will automatically calculate your position size, leverage, and potential profits for each take profit level, providing a clear visual on your chart to guide your trading decisions.

Key Features:

Risk Management:
Calculate your risk percentage based on account size and stop loss.
Visualize risk in dollar terms and percentage of your account.

Position Size & Leverage:
Automatically calculate the ideal position size and leverage for your trade based on your entry, stop loss, and risk settings.
Ensure you are trading with the appropriate leverage for your account size.

Cumulative vs Non-Cumulative Profit Mode:
Cumulative Mode: Adjusts position size after each take profit is reached, recalculating for remaining contracts.
Non-Cumulative Mode: Treats each take profit as a separate calculation using the full position size.

Take Profit Levels:
Set up to 4 customizable take profit levels.
Adjust percentage values for each TP target, and visualize them on your chart with easy-to-read lines.

Profit Calculation:
Displays potential profits for each take profit level based on whether cumulative or non-cumulative mode is selected.
Calculate your risk-reward ratio dynamically at each TP.

Customizable Visuals:
Easily customize the table's size, position, and color scheme to fit your chart.
Visualize key trade details like leverage, contracts, margin, and profits directly on your chart.

Short and Long Position Support:
Automatically adjusts calculations based on whether you're trading long or short.