Candle Size Calculator

# Candle Size Calculator

**A powerful position sizing tool that calculates optimal position sizes based on risk management and stop loss levels from historical candles.**

## 🎯 What it does

This indicator helps traders determine the exact position size for their trades by calculating the risk-to-reward ratio between the current price and stop loss levels from previous candles. Perfect for consistent risk management across all your trades.

## 📊 Key Features

- **Smart Position Sizing**: Automatically calculates position size based on your risk amount and distance to stop loss
- **Multiple Candle Analysis**: Analyze up to 20 previous candles to find optimal stop loss levels
- **Direction Support**: Works for both Long and Short positions
- **Clean Table Display**: Shows all calculations in an easy-to-read table format

## ⚙️ Settings

- **Number of Candles**: Choose how many previous candles to analyze (1-20)
- **Risk Amount**: Set your maximum risk per trade in dollars
- **Direction**: Select Long or Short trading direction
- **Table Position**: Choose from 6 different table positions (top/bottom + left/center/right)
- **Font Size**: Select from 5 font sizes (tiny to huge)

## 🎨 Visual Design

- Modern dark theme that matches TradingView's interface
- Color-coded text: Green for Long positions, Red for Short positions
- Clean, borderless design for minimal chart clutter
- Customizable positioning to fit your chart layout

## 📈 How it works

1. **Entry Price**: Always uses the current market price
2. **Stop Loss**:
- For Long positions: Uses the low of selected candles
- For Short positions: Uses the high of selected candles
3. **Position Size**: Calculated as Risk Amount ÷ |Current Price - Stop Price|

## 💡 Use Cases

- **Risk Management**: Maintain consistent risk across all trades
- **Position Sizing**: Never risk more than your predetermined amount
- **Stop Loss Planning**: Identify optimal stop loss levels from recent price action
- **Quick Analysis**: Instantly see position sizes for multiple stop loss scenarios

## 🚀 Perfect for

- Day traders who need quick position size calculations
- Swing traders planning entries with historical support/resistance
- Anyone practicing proper risk management
- Traders who want to automate position sizing calculations

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*Clean, efficient, and essential for serious traders who prioritize risk management.*