longPosition

The Long Position tool is a risk–reward projection used when you expect the market to move upward. It marks your entry, stop-loss, and take-profit zones on the chart. This helps you visualize trade management and backtest position sizing.

Syntax

longPosition(time, price, styles?)

Parameters

time (number) · The bar time where the position starts. price (number) · The entry price for the long trade. styles (PositionToolOverrides) · Visual and risk management settings:

• stopLevel (number) · Distance from entry down to stop-loss (in price units).

• targetLevel (number) · Distance from entry up to take-profit (in price units).

• riskReward (boolean) · Show the risk/reward ratio on chart.

• fillBackground (boolean) · Fill the long position area.

• transparency (number) · Background transparency (0–100).

• line (LinesLevels without coeff) · Style for borders (linestyle, linewidth, color).

• background (RGBAColor | BaseColors) · Fill color for the projection zone.

Return Value

(string) · The drawing ID of the created Long Position.

Example

Every 50 candles, place a long position starting at a recent low with defined stop-loss and target.

//@version=1
init = () => {
  indicator({ onMainPanel: true, format: 'inherit' });
};

onTick = () => {
  if (index % 50 === 0) { // draw every 50 bars
    // 1) Choose entry anchor
    const entryT = time(20);
    const entryP = low(20);

    // 2) Style config
    const style = {
      stopLevel: 50,       // stop 50 units below entry
      targetLevel: 100,    // target 100 units above entry
      riskReward: true,
      fillBackground: true,
      transparency: 70,
      line: { linestyle: 0, linewidth: 1, color: color.green },
      background: color.rgba(0, 255, 0, 0.15)
    };

    // 3) Draw long position
    longPosition(entryT, entryP, style);
  }
};

Tips

• Use recent swing lows as logical stops for your long entries.

• Adjust targetLevel and stopLevel to maintain a good risk/reward ratio (e.g., 2:1 or higher).

• Great for backtesting trade management strategies.

Warning

• Don’t set stop or target levels too close to the entry; natural price noise might trigger them prematurely.

Good Practice

• Keep consistent color schemes for long (green) and short (red) positions so they’re easy to identify.

• Always validate your risk/reward settings against historical volatility.