GOLD SL CANDLEPIPS

🟡 GOLD SL Distance + Position Size (500 $ Fixed Risk)

This indicator displays two essential pieces of information directly on the chart:
1. The Stop-Loss distance — measured from the candle close to the end of the wick.
• For long trades, the distance is calculated from the close to the low.
• For short trades, it’s from the high to the close.
• The result is shown as a clean numeric value, placed just above or below each candle, without any lines or labels cluttering the chart.
2. The required position size (in lots) to risk a fixed amount of 500 USD on that distance.
• This script includes a GOLD preset, based on the standard value of 10 USD per point per lot.
• The calculation follows this rule:
Lots = round(500 / (Distance_in_points × 10))
→ Equivalent to Lots = round(50 / Stop_in_points).
• Example:
• If the wick is 5 points, the script shows “5 | 10” → 5 pt stop = 10 lots for a 500 USD risk.
• If the wick is 8 points, it shows “8 | 6”, matching the official GOLD risk table.

⸻

⚙️ Main Features
• Works with Points, Ticks, or Pips (unit selectable).
• Shows both Stop-Loss distance and corresponding lot size near the candle.
• Fully customizable colors, font size, and text transparency.
• Offsets allow you to move the numbers vertically or horizontally on the chart.
• Option to display values for the current candle only, or for the last N candles.
• The GOLD preset can be disabled to use a custom value per unit (e.g., $/pip/lot, $/tick/lot).

⸻

🧠 Ideal Use Case

This tool is designed for Gold (XAU/USD) traders who want to:
• Instantly see their Stop-Loss distance in real time,
• And know exactly how many lots to use to maintain a consistent 500 USD risk per trade.

It’s a clean, minimalist money-management indicator that helps you stay precise, consistent, and disciplined in your risk control — without leaving the chart.