OPEN-SOURCE SCRIPT
Pookies SL/TP Lines
This indicator calculates Stop-loss and Take-profit limits and plots them on the chart based on the daily ATR value for a given instrument.
The Stop-loss is calculated at the current close price minus 1x ATR and is plotted as a red line by default.
The Take-profit is calculated at the current close price plus 1.5x ATR and is plotted as a green line by default.
The colors for each line can be changed, as well as the default ATR values (length, smoothing).
To use:
When you see a long or short signal (your own preference), enter your position and set your take-profit and stop-loss limits at the current red/green lines, based on whatever Risk-Reward you've set it to.
This is also helpful in determining whether or not a trade offers enough potential to risk prior to entering the trade.
When the lines are far apart, the ATR is high. When the lines are close together, the ATR is low. This can be used to determine volatility and allow traders to buy during consolidation and sell into strength.
Thank you.
The Stop-loss is calculated at the current close price minus 1x ATR and is plotted as a red line by default.
The Take-profit is calculated at the current close price plus 1.5x ATR and is plotted as a green line by default.
The colors for each line can be changed, as well as the default ATR values (length, smoothing).
To use:
When you see a long or short signal (your own preference), enter your position and set your take-profit and stop-loss limits at the current red/green lines, based on whatever Risk-Reward you've set it to.
This is also helpful in determining whether or not a trade offers enough potential to risk prior to entering the trade.
When the lines are far apart, the ATR is high. When the lines are close together, the ATR is low. This can be used to determine volatility and allow traders to buy during consolidation and sell into strength.
Thank you.
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免責事項
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オープンソーススクリプト
TradingViewの精神に則り、このスクリプトの作者はコードをオープンソースとして公開してくれました。トレーダーが内容を確認・検証できるようにという配慮です。作者に拍手を送りましょう！無料で利用できますが、コードの再公開はハウスルールに従う必要があります。
免責事項
この情報および投稿は、TradingViewが提供または推奨する金融、投資、トレード、その他のアドバイスや推奨を意図するものではなく、それらを構成するものでもありません。詳細は利用規約をご覧ください。