Pine Script Helpers for Percentage-Based Strategy Calculations
Summary
This Pine Script library provides reusable calculations for strategy position analysis. Its helpers convert a percentage of a reference price into ticks, calculate a price at a percentage distance from a reference, and express a percentage of price as an amount in the symbol’s currency. The reference price defaults to the average entry price for an open position, and the position-dependent functions return no value when there is no open position.
A further documented helper estimates open-position profit or loss at a hypothetical exit price as a percentage of average entry price. The documentation cautions that this estimate may be imprecise when a position contains multiple open trades because it relies on the average entry price. The excerpt identifies a TradingView Pine library updated in March 2025, but does not provide performance tests or a trading strategy. Its value is practical calculation support; users still need to account for instrument tick size and point value when interpreting results.
Key ideas
- Percentage distances can be converted from prices into the instrument’s tick units.
- A percentage-based target price can be calculated relative to an entry or specified reference price.
- Price percentages can be expressed as currency values using the symbol’s point value.
- Position-dependent helpers return no value when no strategy position is open.
- Profit estimates based on average entry price may be imprecise for multiple open trades.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.