Trading Table (TradingView)
The ScaleTrade Trading Table is a small display which helps to provide clarity to the current trading position by providing important information. This information includes the: Direction, Quantity (of shares), Entry, Exit, and Take Profit. We will discuss how this information can be interpreted and how this information can be used to help manage your trades. Below is a sample image of the Trading Table.
The Direction metric states which type of position is currently entered. This can be set to three values:
SHORTstate that we are currently in an active position, with
LONGstating that we have an open long position and
SHORTstating that we have an open short position.
CLOSEDmeans that we have no active positions opened.
The Quantity metric refers to the number of shares we are currently holding in the position. This correlates to the Order Size setting used by TradingView found under
Properties -> Order Size. This does NOT actively reflect the number of shares being traded in your personal brokerage account. When no position is active, this variable will default to
0.00. Please note that is value will always be positive regardless of whether a LONG or SHORT position is active.
The Entry metric refers to the price at which the position opened. This uses TradingView's built in variable
strategy.position_avg_pricevariable to approximate the fill price based on when a position would have been submitted. When no position is active, this variable will default to
The Exit metric refers to the price at which the position is closed. This uses the open value of the candle after the trade is closed. Please note that this variable is mostly accurate however it is not fully accurate when a position is closed by a take profit or stop loss. We intend to address this inaccuracy in coming versions of the table. When a position is active, this variable will default to
The Take Profit metric reflects the algorithm's built in take profit value. This value is set to
1.00%above or below (based on position type) of the entry price of the trade. Note that trades can exit outside of this take profit margin, based on a variety of mathematical factors which cannot be predicted with the algorithm, and therefore setting a take profit order at this value should be done with caution as it could lead to duplicate orders being filled. Please note that enabling the
[Strategy] Enable Take Profitsetting will not override this value and it will consistently remain at the