ATR Position Sizer

Found the substack from Ryan Wright (raen prop trading) which has amazing insights into the real prop trading world.

In his post Your Trading Edge Isn't Your Setup. It's Your Knowledge he shared a few interesting nuggets of knowledge.

Especially the part about Risk according to the 20-day ATR caught my eye, so i reconstructed a version of that formula directly for Tradingview. It works with ES (MES), NQ (MNQ), GC (MGC), YM and can be extended.

Additionally I implemented a function that tracks the chart ATR (automatically on the chosen time frame) on a defined period. This can of course be disable.

Hope it helps