Position Size calculatorOverview
This indicator automatically calculates the average candle body size (|open − close|) for the current trading day and derives a position size (quantity) based on your fixed risk per trade (default ₹1000).
For example:
If today’s average candle body = ₹3.50 and risk = ₹1000 → Quantity = 285
How It Works:
The indicator calculates the absolute difference between open and close (the candle’s body) for every bar of the current day.
It averages those body sizes to estimate the average daily volatility.
Then it divides your chosen risk per trade by the average body size to estimate an appropriate quantity.
It automatically resets at the start of each new day.
Why Use It
While risk size can be derived manually or using TradingView’s built-in Long/Short Position Tool, this indicator provides a faster, more practical alternative when you need to make quick trade decisions — especially in fast-moving intraday markets .
It keeps you focused on execution rather than calculation.
Tip
You can still verify or fine-tune the quantity using the Long/Short Position Tool or a manual calculator, but this indicator helps you react instantly when opportunities appear.
