Match the units before comparing results
Count mode computes wins / (wins + losses). It excludes even trades and open positions. Use the win-rate calculator if you need to count breakevens. Count whole closed trades using the same grouping rule for partial exits.
Percentage mode assumes every outcome is either a win or a loss, with no breakevens. Enter win probability p as a percentage and positive average win W and average loss L in the same currency, after costs. At an endpoint, the unused average is a hypothetical payoff assumption, not an observed sample mean.
Reproduce the formulas
- Profit factor = (p × W) / ((1 − p) × L), with p expressed as a fraction.
- Expectancy = p × W − (1 − p) × L.
- Breakeven win rate = 100 × L / (W + L).
Hypothetical example: 60% wins, $50 average win, and $100 average loss produce profit factor 0.75, expectancy −$10 per trade, and a 66.67% breakeven rate. Changing average win to $100 produces profit factor 1.50, expectancy +$20, and a 50% breakeven rate.
A 100% entered win rate has no modeled gross losses. The ratio is not a finite number; it is not proof of a riskless strategy. A zero-expectancy scenario is breakeven, not a positive-return result.
What these metrics leave out
The calculations omit trade order, drawdown, varying position sizes, capital requirements, and uncertainty. Historical averages can change. A target-to-stop ratio is not the same as realized average win divided by realized average loss. Tightening stops can change both outcome frequency and payoff; there is no mechanical guarantee of improvement.
Use a consistent date range, market, costs, and trade definition. Evaluate an untouched sample separately from the data used to select parameters. No universal profit-factor threshold or minimum trade count establishes a tradable edge.
Definitions: TradingView profit factor and percent profitable. These are descriptive statistics, not investment advice.
Questions about the results
Why do counts show only win rate?
Wins and losses do not identify their monetary sizes. Counts alone cannot calculate profit factor or expectancy. This mode excludes breakeven trades; use the separate win-rate calculator to include them.
What does profit factor above one mean?
The entered or historical gross winning amount exceeds the absolute losing amount. Use amounts after the same costs and from the same sample. The ratio does not establish future profitability or account for drawdown.
What happens at 0% or 100% wins?
With positive average win and loss assumptions, 0% gives profit factor zero and negative expectancy. At 100%, there are no modeled losses, so the finite profit-factor ratio is undefined; it is displayed as no losses rather than zero.
How many trades validate an edge?
No fixed trade count validates a strategy. Sample dependence, selection bias, market regimes, costs, and out-of-sample results matter. This calculator does not measure confidence or perform statistical validation.