4️⃣Risk Management Buddy Pro Settings Walkthrough

In this section, we will go over the basics of changing the settings configuration of the Greedy Bastard Risk Management Buddy. We will start with necessary settings, then custom settings.

Click on each image to Zoom in and view in a larger format.

IMPORTANT: You will see an "i" for information next to each setting in the Settings Configuration. (See the example below) You will hover your mouse over the "i" , to get instructions or information about each setting.

IMPORTANT: Goals & Results Focus

Success with GBRMBPro is measured by the Number of Trades, Profit Percent, and Win Rate, Avg Wins/Avg Losses. We use the Backtester data to manage risk and profit. Deep Backtesting is available on Premium plans on Tradingview. It is recommended if you want the best results. Let's Review.

  1. Date range for the backtest in the settings. You will set the range.

  2. Market Type: Crypto, Stocks/Forex, Binary Options

  3. Martingale ON/OFF confirmation. Green: ON Red: OFF

  4. Warning: Martingale Too High. This will come on if your leverage and martingale settings are too high, causing risk of total loss of the trade.

  5. Leverage: This reflects the leverage setting you are choosing to trade with.

  6. Intitial Balance: This is the currency balance you wish to trade & backtest with, may not necessarily be your total account balance.

  7. Current Balance: This is the initial balance with the profit from all trades in the backtest adeded.

  8. You want to have at least 100 or more trades for minimum backtest results. However, you will want several hundred trades or more to get more accurate results.

  9. No. of Winning/Losing Trades: You want the # of Winning Trades to be double the Losing trades on average for best results. Win rate goal should be 60% or more In this case.

  10. Average Winning/Losing Trade: This is the value/amount of each win or loss in the selected currrency. Average Wins should be more than Average Losses. The proportion of Wins should be much higher than Loss percentage. Your profit target will determine if you are willing to accept a higher Avg Loss rate.

  11. Profit Factor: The amount of money a trading strategy made for every unit of money it lost (in the selected currency). This value is calculated by dividing gross profits by gross losses.

  12. Max Win/Loss in a Row: You really want your Max Wins in a Row to be significantly higher than your Max Loss in a Row. We have found that a Max Loss in a Row of 3 is ideal, but anything over 4 is harder to recover, and higher risk.

  13. Gross Profit/Loss/Net Profit: Comparison of loss versus profit, with Net Profit being Gross Loss subtracted from Gross Profit.

Changing the Properties Settings

Click the Settings Gear Icon on the GBRMBPro script in your TradingView chart.

We are going to focus on the most important Properties settings for the GBRMBPro Script. There will be a few lines left off. You should generally already know how to use this section if you are using strategies in Tradingview.

  1. Changing Initial Capital-If you haven't already changed the "Initial Capital" on the Properties tab, start there first. Click Properties tab, adjust the Initial capital amount you want to trade with, and click OK. It's generally good to set this now so you don't forget.

  2. Base Currency-Changing Base currency on the Properties tab is for selecting your local currency, base traded currency, or you can leave it as Default in most cases. If your calculations do not look right, switch to USD or USDT for example.

  3. Order Size -🚨VERY IMPORTANT SETTING🚨

Unlike other TV Strategy scripts you have used that have the Order Size on the Properties tab in Settings (which you WILL NOT USE), as shown in the 1st image below... (continued below)

...the GBRMBPro manages the Order Size on the Inputs tab (Discussed in the next section) as shown in the image below. Changing the Order size/Contracts/% of equity in the Properties tab will not change the backtest calculations like in other scripts.

You will choose Order Size, and % of Capital or Fixed Amount on the Inputs tab, NOT on the Properties tab. This will be discussed in the next section "Changing the Inputs Settings".

  1. Pyramiding-The pyramiding setting says how many entries in the same direction a strategy may take. The default for pyramiding is 0 , which means only one trade in the long or short direction at a time. When we set pyramiding to 2 or higher, the strategy can open multiple trades in a particular direction. Note: Some scripts have multiple signals.

  2. Commission- Brokers' Commissions/Trading commission is the brokers' fee for opening and closing a trade. Usually, it is calculated based on the size of the trade. You can find this information (What your broker/exchange charges) on your exchange.

Changing the Inputs Settings

After clicking the settings gear, Click the Inputs tab, and you see text to "MAKE OWN STRATEGY OR IMPORT HOST SCRIPT" (See image below)

Before you can use the GBRMBPro, decide if you will use a HOST script from our website, or Make your own strategy. (You can also request a custom HOST script with any favorite indicator, just contact support.)

To Make Own Strategy, you'll be using the custom settings filters further down in the Settings, by importing on-chart indicators and setting the conditions, which we will discuss further down in the guide.

To use one of our Host Scripts from the GBRMBPro website to Import you will select it in the list with the 🔌Connector🔌 to "Connect" a HOST Script. You can still use the filters to improve and optimize the results.

NOTE:(The default setting in the drop down is "Close" and you should always reset this to "Close" if you intend to Make Your Own Strategy.)

In Section 3 of the Getting Started Guide (How to Connect & Properly Disconnect a HOST Script), we covered Connecting HOST Script. We will briefly retouch on that, and then further down in this section of the guide, we will discuss "Make Strategy" (check the box) using Custom Filters down in the Settings Cofiguration using other indicators on chart.

For now we will "Connect Host Script" in the drop down menu.

In this case we are going to select the drop down menu for Connect Host Script and choose the OTT indicator "Connector" here. You should still be able to use custom filters with a Host Script connected. Again, We will cover "Make Own Strategy" further down.

Show HA Overlay

Check this box to turn ON/OFF HA candle overlay. Visibility will depend on whether or not your on chart scripts use HA or not.

Trade Signals

Choose whether you want to trade Long, Short, or Both depending on your strategy.

Reverse Trade

Reverse Trade allows you to automatically take a trade in the reverse direction if your Stop Loss or Trailing Stop Loss is HIT. Results will vary.

Order Size

This is the amount of capital you want to use to make a trade. It's the amount of your capital that will be used to buy a particular stock, currency, or crypto asset.

We usually select % of Capital. If you have $1000 "Initial capital" on the Properties tab, you will use 10% of $1000 per trade, so $100 per trade. Generally we only recommend a maximum of 2% per trade for Risk Management.

Fixed Amount

You can also choose to use a fixed currency amount.

Use Base Currency

🚨Use Base Currency (VERY IMPORTANT- PAY CLOSE ATTENTION)🚨

If your connected broker or 3rd party API/Bot is using contracts (for futures, etc), uncheck this box. If your connected broker or 3rd part API/Bot are not using contracts (spot, etc), check this box. Tradingview uses contracts by default.

(Use this is if the 3rd party bot converts currency to contract for you, meaning they want you to send a currency amount to the bot, WunderTrading for example.)

If this box is checked, the logic/calculations of the dashboard will not be correct because you are not using contracts for calculations as that is a default for Tradingview calculations.

IMPORTANT NOTE: Leverage in the exchange and the script settings must match.

IMPORTANT NOTE: In the GBRMB Pro you must make sure you have the correct setting for this when making Tradingview alerts or your order amounts may not be correct when sent tothe exchange via automation, webhooks, API, etc.

Max in a Row Longs/Shorts

Max in a Row is the number of Long or Short positions that will be able to open in the same direction upon each closed trade.

Check the box if you want to use this feature, and set the value for the max number of trades in that direction. This can help or hinder your back-test strategy results. Always good to run a test first before using this feature and check your results in the back-test results box. This feature can significantly improve or reduce win rate/net profit.

Entry/Exit/SL/TSL/TP Labels

Use the drop down menu to change the size of your labels and lines for: Entry, Exit, Stop Loss, Trailing Stop Loss, and Take Profit.

Show Past Plots

This setting allows you to see past plots for Entry, Exit, and Stop Loss, Trailing Stop Loss. Your Date Filter settings will affect how far you can look back. NOTE: Most importantly, your subscription to Tradingview will determine how far back you can look. IF you don't have this checked, you will only see labels and plots of your current trade.

Date Filter

This allows you to select the start date/time and end date/time of your backtest period.

This is a very important feature for testing during particular market conditions such as bearish or bullish. In most cases you will test from the beginning of time, but it is better to run backtesting for specific periods of time, to determine what market conditions a particular strategy or indicator works best with.

Setting Session Times

This section allows you to choose specific days and times for trading sessions, as well as a background color that shows on chart to indicate the period. All days checked is automatically 24/7 trading.

Check the box for the trading session you want to set, then use the drop down menus for specific times.

Set session times background

This feature allows you to see an on-chart session background color based on the times you select. If you manually trade, you can see when the market opens and ends, or just set your preferred trading times. This is good to use if you want to start or stop trading at certain times, but have a manual reminder.

Time Zone-Set and Match your Chart and GBRMBPro Script Settings

In the lower right corner of your chart you can see a clock, and UTC time zone reference. Click this and set the time zone to to your time zone, or the "Exchange" for the most accuracy.

Leverage

Leverage allows investors to increase their exposure to the market by allowing them to pay less than the full amount of the investment, but reap a larger reward, while risking only the amount traded. Leverage is a ratio applied to the margin amount to establish how big of a trade is going to be placed. By borrowing money from a broker or exchange, investors can trade larger positions in a currency, magnifying the returns from favorable movements in a currency's exchange rate. However, leverage is a double-edged sword, meaning it can also magnify losses more quickly by reaching liquidation-unlike spot trading. Liquidation during leverage trading means you lose the enitre position.

  1. When you set the Leverage in the settings, it will also reflect in the backtester data box.

  1. Check the Plot Leverage box to plot the leverage line on chart. In the below image, you can see the yellow leverage line plotted below the price action with a white label telling you Your leverage is Too High!

NOTE: You will want your stop loss to be above this line. You will generally get a Leverage too High warning if your stop loss is set below it or if your levereage is too high of a risk for liquidation due to volatility.

  1. Check Close Trades (High Leverage) if you want to automatically close trades when leverage is too high to prevent significant losses. When volatility increases and large candles form, the liquidation price of a leverage/futures trade can get closer to the last price of the ticker symbol. This can result in quicker losses, a change in your Risk to Reward, and affect the profitability calculations. If the leverage becomes to high during increased volatility, the script will take this into account, and automatically close the trade to prevent significant losses. This also helps maintain the profitability and net profit calculations in the backtest.

Example: If you have a position or order size of $100, and you are using 10x Leverage; this means you are trading as if you have 10x the original $100 position amount, so $1000.

The simplest way to put it is that you will realize the profit and the loss of trading with $1000 as an order size.

If you realize a Profit & Loss (often referred to as PNL or P&L) in the negative, some exchanges will increase your leverage, causing you to reach liquidation faster. If you reach a loss total greater than or equal to the value of your $100 risk, your $100 position will be liquidated. Some exchanges lower your leverage automatically if you are experiencing a profitable trade, and your profit could be reduced. You'll want to check and see if your exchange/broker has these maintenance margin rules. We recommend steering clear of "adjusting leverage" if you can.

Martingale Method

Martingale Strategy dates back to the 18 century. It is essentially like a Roulette "double down" strategy. The probability of making money with it is 100% if your pockets are deep enough. The idea is pretty simple, when you lose money, double the trade amount, and keep doubling until you have a winner. When you have a winner, you go back to your original trade amount. Losses can stack very quickly though. We like to use fractional Martingale like 1.25x or 1.5x instead of 2.

  1. Check the box to Use the Martingale method, and if you don't fully understand this setting and it's effects on your risk management, don't use it.

  2. Set the Martingale Multiplier to the number you want to multiply your losing trade by. For Example: If your losing trade is $10 and you set this to 2, your next trade would be $20. You can also start out small and set this to a decimal value for example: 1.25X. We recommend this reserved method. For this example your next trade would be $12.50.

  3. Set the Max in a row: This is the max number of times you want to martingale (double down) in a row upon a loss. IMPORTANT NOTE: This number should never exceed the "max loss in a row" value shown in the backtest window. (We like to only trade assets that have a max of 3=4 losses in a row, as they are more easily recoverable with martingale_.

However, we don't assume we have infinite Initial Capital to work with. So, we have modified this strategy to allow you to determine whether a particular traded asset will be low or high risk for this strategy. For this, we will be using the backtest window data, and looking at the Max Loss in a Row (# of losing trades in a row), to determine the max number of times we would martingale in a row upon loss. We usually set Martingale: Max in a row to no more than 3 or 4. Martingale "Max in a row" and backtest window "Max Loss in a Row" are 2 different variables.

In the below image you can see the Max Win in a Row/ Max Loss in a Row in the Backtest data box.. With this particular asset, you would potentially see as many as 12 losses in a row. This is very high risk. You would want to optimize/adjust your Host script and GBRMBPro settings until this is no more than 3-4 Losses in a row.

WARNING: Martingale/Leverage too HIGH!

When using a high order size, leverage, or martingale setting, you are likely to get a "Martingale/Leverage too HIGH" WARNING. You will see the warning in red inside Backtest Data Box. You'll want to adjust your settings until this is removed, or you will be at high risk of losses and liquidating your balance, before reaching the profit target. NOTE: This can also be due to your Martingale settings in the section lower in the settings. If the Martingale amount and Max number of times you Martingale in a row are too high (this setting is further down the page of settings), you will also get a warning.

  1. In the below image you can see that the Leverage is too HIGH! Warning is showing in the Backtest data box.

  2. The Leverage is TOO High! Warning shows in the white label on chart where your Leverage line is. This helps you determine if you Stop Loss is above or below the Leverage line.

Custom Filter Indicator Settings

You can create 10 "CUSTOM FILTER INDICATORS" with up to 5 Long and Short Conditions. (This will require utmost attention to detail.) You can add multiple plots and conditions, making this the most customizable risk management scripts available on Tradingview. This allows you to import indicators other than the HOST script, to be used as filters for better signals and improving Backtest results. You must check the Import External Filter Indicators box to use this feature.

The candle close is the default setting or also the default for the "off". If you are not using a Custom Filter Indicator, or wish to remove the HOST script/RMB script; make sure to change all of these Plots back to "close"

Selecting Custom Filter Indicator Plots

Plot1-10: Here, you will choose Plots from any indicator that you are using on-chart, including a HOST script; as a specific filter for your strategy.

Select Plot # and import the external chart indicator "Plot" from the on-chart or HOST script you are using.

L Value / S Value: You can type in a fixed value based on the plot value on the chart grid for the specified indicator for a Long or Short qualifier. When you set a value, you will use the Conditions in the next section to create a signal. For example: A cross above or below these values.

(You will set a crossing, greater than, or less than, or equal to condition for the indicator Plots in the settings referenced as LCond & Scond, which we will cover further below in this section.)

In this example, for Plot1 in the Inputs section of the GB Risk Management Buddy settings; we will choose the RSI indicator (applied to chart) as the source to create a custom filter indicator. You would go to the chart and Click the Settings Gear on the RSI Indicator.

When opening the settings of the RSI indicator on the chart, click Style (image below). There are several plots to choose from. You will choose the one you are looking to add for your filter indicator condition. (We will be using the RSI main plot in purple.)

If you are unsure which plot is the one you want, you can go to the Styles tab, and check each on and off by clicking the box beside the title, to see which one disappears or reappears from the chart. This is usually indicated by a colored line or shape on chart being removed or reappearing. (Video example to be added later)

When we open the GB Risk Management Buddy settings Inputs and select Plot1,

  1. Check the Import External Filter Indicators box

  2. Click the dropdown menu, and now see the plots from all the indicators on chart, but we are focused on the RSI plots for this example. We select the RSI main plot.

L Value / S Value

  1. We will set the Plot1 L Value at 20 for the RSI 20 oversold value, and Plot1 S Value at 80 for the RSI 80 overbought value. These values will be used to set conditions for BUY/SELL signals to appear on chart. with this strategy. (You can add multiple plots and values of those plot grids to filter signals and back-test results for the best performance.)

Selecting Custom Filter Indicator Conditions

Examples:

Plot1 CrossUp Plot2 means the condition is True when Plot1 crosses up over Plot2.

Plot1 > Plot2 means the condition is True when Plot1 is greater than Plot2, etc.

Plot1 CrossUp L Value means the condition is True when Plot1 Crosses Up over the Plot1 L Value on RSI indicator grid.

Plot1 CrossDown S Value means the condition is True when Plot1 CrossesDown over the Plot1 S Value on RSI indicator grid.

Plot1 >Previous means the condition is True when Plot1 is greater than previous candle value or L Value/S Value. Plot <Previous means the condition is True when Plot1 is less than previous candle value or L Value.

Plot1>=Previous means the condition is True when Plot1 is greater than or equal to previous candle value or L Value/S Value. Plot1 <=Previous means the condition is True when Plot1 is less than or equal to previous candle value or S Value.

Plot1==Previous means the condition is True when Plot1 is equal to previous candle value or L Value/S Value.

Building your Filter and Conditions

Now you will Select the L Cond 1 (Short/Sell) or S Cond1 (Long/Buy) plot, condition operator, and comparison plot; to filter out bad signals. (Below are steps and examples showing the complete list of conditions available to choose from)

  1. Check the Condition Box (LCond1 for this example) for each filter you will use.

  2. Select your first plot from your list of External Filter Indicator Plots.

  3. Select the condition operator you want to use.

  1. Select the last plot or Plot Long/Short value to compare the first plot to. This will be from your list of plots and values in the External Filter Indcator Plots section.

Custom Filter Indicator Basic Example Using RSI

In the example we chose to add an RSI plot to Plot1 and set a fixed value of 20 for L Value for oversold, and 80 for S Value for overbought.

We then set LCond 1 second filter to CrossUp, and the third filter to Plot1 L Value. We want to only get a Long Signal if RSI crosses above 20 (#1 in the example below) and set SCond 1 to CrossDown Plot1 S Value. We want a Short Signal only if RSI crosses below 80 (#2 in the example below).

With these conditions in place, Long & Short signals will only appear on chart for the RSI script using the RMB script, when the conditions are True, as seen below. You can also set additional/multiple custom conditions for Long or Short, with other indicators imported. They will work together to produce signals/alerts on chart. You can use them to improve your strategy back-test results.

Condition Lookback

You can set the number of candles to lookback to see if the condition is True. This is especially effective when using multiple filters working together. This can significantly change your Strategy Backtest results. Be mindful of this setting and it's effectiveness at improving your profitability results.

Selecting and De-Selecting Conditions

You can select which conditions you want to be active for test. Consider it like a formula that needs to be carefully thought out to produce a specific result.

The conditions grouped in Green are active, while the ones with red boxes in this example, have their boxes unchecked, indicating they are not being used for this test. (You won't see red boxes in the script)

You can use selective conditioning, and see which filters work best together. This will help you determine if one of your plots or conditions is affecting your results positively or negatively in the back-test results.

GTFO Exit Activate

This feature gives you the option to use up to 2 custom External Indicator plots as Take Profit/Exits for your positions, and create custom logic formulas to trigger. This can be a line plot or numerical value on-chart from any indicator or HOST script added to the chart. In some cases it is possible to use shapes. You will want to carefully construct your formula using the variables available.

🚨IMPORTANT NOTE🚨: This Exit feature supercedes all other take profit and stop loss settings. Check GTFO EXIT ACTIVATE to turn this feature ON, uncheck to turn OFF.

  1. (See above image for reference) Select/import the 1st External Indicator Plot or enter the Values you want to use for the trigger. You can find "plots" in the STYLE tab in the settings of your indicator, and check the numerical scale of the indicator on-chart for the values you want to use. Add the values you want to use for L Value/S Value. For example, L Value could be 20 on the RSI scale and S Value could be 80 on the RSI scale.

  2. (See above image for reference) Select and import the 2nd External Indicator Plot or enter the Values you want to use, if you want a 2nd Exit trigger.

NOTE: the list here shows an example of what you will see when selecting Plot11 and Plot12. It correlates to the indicators on chart.

  1. (See image above for reference) LExit Cond- Check to turn on the Long Exit Condition and select the plot you want to use from Plot11/12

  2. (See above image for reference) SExit Cond- Check to turn on the Short Exit Condition and select the plot you want to use from Plot11/12

  1. (See above image for reference) Select the condition operator.

Operators:

Crosses Up

Crosses Dn

Greater than

Greater than or equal to

Less than

Equal to

Greater than previous

Greater than or equal to previous

Less than previous

Example 1: Plot11 CrossUp Plot12. This means the condition will be effective when one plot crosses up on the other and the trade will close. This could be based on 2 moving averages for example: When the 50 MA crosses up on the 200 MA.

Example 2: Plot11 Greater than Plot11 L Value. This means when the value of Plot11 is greater than the L Value, the trade will close. This could be based on RSI for example: If the S Value is 70 on the RSI oversold setting, then when Plot11 is greater than 70 (or overbought), the trade will exit.

  1. (See above image for reference) Select the final variable. The results of the backtest in the strategy tester should update. It will need time to load. This concludes the GTFO Exit Ativate section.

Mark Last Trade Was in Profit/Loss

This keeps track of previous trades and whether it was a win or loss, then plots a label on chart.

NOTE: IF you have Martingale ON or OFF, this is still an independent visual label.

Close on Opposite Signal

This feature forces a Close of an open position (Long or Short) on an Opposite Long/Short Signal, regardless of your Stop Loss or other Take Profit settings. Keep this in mind and remember to check your setup for Take Profit and Stop Loss.

This is a risk management strategy to minimize losses, however you will want to toggle this to see if you get better results with it on or off. Also keep in mind that your Stop Loss and Take Profit settings will affect the Backtest results with this on or off.

Example of function:

If you have a Long open, the position/trade will be closed when you get your next Short signal.

If you have a Short open, the position/trade will be closed when you get your next Long signal.

Here is a visual example. Take a look at the arrows/signals. We start with a Long, and at each opposite signal we get a close of the previous trade, and opening of a new trade in the opposite direction.

Using Limit Orders

In the Settings you can choose whether to use Limit Orders for opening trades, closing trades, and taking profit. Use caution when choosing this option. Market orders can lead to slippage but guarantee a close.

Sometimes your limit order might not close right away, or not at all. Slippage refers to the difference between the expected price of a trade and the price at which the trade is executed. Slippage can occur at any time but is most prevalent during periods of higher volatility when market orders are used. It can also occur when a large order is executed but there isn't enough volume at the chosen price to maintain the current bid/ask spread.

Using Stop Loss

Consider a stop loss for your calculations, for best results. Select which one you would like to use from the drop down.

SL Types:

Percent/Points Pips- The stop loss will be set to a percent gain or loss value or you can choose Points/Pips.

Pivots-IF Pivot points are on chart (box is checked), they will be used as the stop loss. (Turn these on/off to see on chart) (These may be removed on future revisions, due to other settings netting better results.

Custom SL- This will allow you to set a Custom Long SL or Custom Short SL using any line plot from any indicator on chart. This is a very powerful feature allowing you to use custom indicators as a stop loss.

ATR-IF this feature is enabled/checked, this will use the ATR line as the stop loss.

----------------

SL Break Even (Left Image) allows the script to automatically place a Stop Loss at Take Profit 1/Take Profit 2, once they are reached. Orders will trigger on the exchange if the stop loss is reached, and you will retain the profit at that Stop Loss point. You can set your Take Profit further down in the Risk Management Buddy configuration settings (Right Image)

Using Custom Stop Loss

You can set a Custom Long Stop Loss or Custom Short Stop Loss

Example: We are going to use the HOST Script OTT v.3.4 as the Custom SL

  1. Set SL Type as Custom

  2. We will Set Custom Long SL and Custom Short SL to the OTTwAv-host3.4: Support Line indicator plot that is already on chart.

By using these settings, the Stop Loss for a Long or Short will be set and occur when the price reaches the support OTT support line plot. NOTE:(You can use any indicator plot with a numerical value on chart)

Stop Loss Long Close and Stop Loss Short Close Type

This feature lets you set the type of close you want for your Long or Short position. The Stop Loss triggers upon the condition that is set.

You can choose:

  1. close of the regular candle

  2. close on the high/low of the candle

  3. close of the HA candle

  4. close of the HA candle high/low

Trailing Stop Loss

Check the Use Trailing Stop SL box to use trailing stop loss (TSL for short). You can customize the TSL using any indicator plot that is on the chart.

If you have Use SL turned on, it will be used by default. Uncheck Use SL to use TSL only.

Custom Long TSL and Custom Short TSL

You can use any indicator plot on chart with a numerical value, as a Custom Long TSL or Custom Short TSL. You can also use different indicators for each. In this case we chose an example with the EMA1 of the 10 in 1 indicator on chart for the Custom Long TSL. This is the 50 EMA We chose th EMA2 for the Custom Short TSL.

Now these are set in the Custom TSL boxes.

On the chart in the 10 in 1 MAs settings, you can see the MA1 is 50 and MA2 is 100. We are using these lines for the Trailing Stop Loss.

TSL Start Point

Entry: The Trailing Stop Loss starting point will be at the position entry price.

Take Profit 1: The Trailing Stop Loss starting point will be at the price, ratio, or dollar amount set in your TP#1 in the Take Profit Settings

Take Profit 2: The Trailing Stop Loss starting point will be at the price, ratio, or dollar amount set in your TP2 in the Take Profit Settings

TSL Close: Long & Short

This feature lets you set the type of close you want for your Trailing Stop Loss for Long or Short position. The Trailing Stop Loss triggers upon the condition that is set.

You can choose:

  1. close of the regular candle

  2. close on the high/low of the candle

  3. close of the HA candle

  4. close of the HA candle high/low

Take Profit Method

Update, we now have 6 Take Profits and we added No of Bars method for Binary Options trading.

Binary Options

Select the Binary Options Box to use the Take Profit method for trading on a Binary options exchange, and change the Payout % to reflect what is on your exchange for back-test calculations.

Take Profit RR or Risk to Reward

RR is Risk to Reward Ratio that you set. For example: 1.15 or 2.25

Take Profit Percent

Percent is the percent of profit target you would like to reach and close position. For example: 2%.

USD is an actual set dollar amount of profit for example $50.

Take Profit Close

This setting allows you to see whether or not the Backtester results are better depending on the type of candle close for the TP Long Close or TP Short Close.

Take Profit triggers upon condition set for:

  1. Close of regular candle

  2. Close of regular candle high/low

  3. Close of HA candle

  4. CLose of HA candle high/low

Take Profit Percent of Position

TP #1 Percent 60 means that the first Take Profit will close 60% of the total position.

TP #2 Percent 50 means that the second Take Profit will close 50% of the 40% remaining after TP #1 closes. So the value of what closes on TP #2 woud be 20%.

TP #3 Percent 100 means that 100% of the remaining position will be closed, after TP #1 and TP #2 have already triggered. So the remaining 20% is closed for a total of 100% of the position.

Pivot Points and ATR

Check the box to show High/Low pivots on chart. you will need this checked if you are using Pivot Points as a Stop Loss, Trailing Stop Loss, or Custom Stop Loss.

You can adjust the Pivot Point period

(# of candles to look-back for true condition)

For ATR you can check the box to Show the ATR line on chart adjust Length, Factor, and Smoothing. You will need this checked if you are using it for Stop Loss or Custom Stop Loss.

Third Party Bots

This is the section you can set up your third bot and signal alerts. You have the option to

Use the Risk Management Buddy to send signal alerts automatically using Autoview

We use Autoview most commonly, and it is a Google Chrome browser extension. You have to set up an account first and then connect your browser to your account, and the exchange. Please see Section 6 Connecting to Autoview for details on Autoview.

Also see the Autoview Guide and Courses for more information on how to use Autoview

https://use.autoview.com/hc/en-us/categories/14108809949453-Courses

Autoview and Message Syntax Settings

  1. You will Enter the Account *Name you created for Autoview in the AV dashboard (Image 2)

  2. Select the Exchange Name using the Syntax Builder

  3. Enter the Autoview Base Pair you will use, gets autogenerated from the Syntax Builder

  4. Leverage Type is Isolated or Cross depending on your Exchange setting, usually for Futures or Margin trading only.

  5. This is a setting for Autoview for Testing your settings and alerts. You will use the AV Log to see your syntax messages when alerts are triggering. (Image 3)

Custom Automation

You can use custom automation to send signals to a bot and then on to the exchange of your choice. You will use these boxes in the GBRMBPro script, for manual entry of Syntax for 3rd Party Bot. See the help guide or syntax page for your 3rd Party Bot to get specifics on syntax and strings for sending signals to your bot/exchange.

  1. Check Use Custom Automation to turn on. This must be turned on for it to work, and make sure you turn it off if you are not using it.

  1. You will click on Alert on your Tradingview chart.

  1. Make sure you are on the Settings tab, click the dropdown menu and select source: GB-RMBP 1.0.35 to import the signals & settings from the script into the alert.

IMPORTANT NOTE: Make sure notifications are enabled on your browser. See section 7 Tips on Tradingview Alerts to see how to turn on notifications in your browser.

  1. Click Notifications Tradingview uses webhooks in the chart alerts to send a signal to a 3rd party bot. Check webhook URL, Show toast notification, and Play sound. If you are using the desktop Tradingview app or mobile app, check Notify in app.

  1. Copy/paste the WebHook URL in the Notifications section in the alert.

  2. In reference to the Webhook URL section in the image above, go to your 3rd Party bot app, and look for the alert messages for custom automation. Get the webhook from your 3rd party bot and paste it in the Webhook URL field of the Notifications tab.(This example below is in WunderTrading when creating a bot. They provide easy copy/paste lines.

  3. Paste the Alert message in the alert message box.

  1. Lastly, copy/paste the Enter Long, Exit Long, Enter Short, Exit Short lines into the GBRMBPro Custom Autmation boxes shown at the beginning of this subsection, Step 1.

Backtester ON/OFF

Use this to toggle the chart Backtester Box On/Off

Sometimes you may want to remove this from the chart temporarily so you can view chart data in detail without the backtester box in the way.

It appears on chart as such.

Monthly Performance Calculator

Check this box to turn on the performance calculator.

Select the location you want it to appear on chart.

Select the Size of the box and text/colors

It will appear on chart as such.

This concludes the Settings Configuration Walkthrough

If you have any questions or need support, you can visit support on our DIscord channel and ask the community for assistance. Here is the link to the server: https://discord.gg/UwWWG6Z3

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