OPEN-SOURCE SCRIPT

ATR Stop Loss and Take Profit Finder

The purpose of this tool is to help the trader determine a safe stop loss price and take profit which dynamically changes due to ATR (Average True Range)

This tool uses the concept of
  • ATR (Average True Range)
  • Risk Reward Ratio (Money Management method)



How is ATR Stop Loss and Take Profit Finder working

Step 1 ) Tool will calculate TR(True Range
Step 2) Then the TR will be used to find the Average value of X time frame, using 5 math models: RMA SMA EMA WMA and LSMA
Step 3) The value from Step 2 will be multiplied by the factor, and the result is ATR

After we got ATR Value, the Tool will find 2 lines: Upper Band and Lower Band which will function as a Stoploss value for both Short and Long trade
ATR Stop Loss and Take Profit Finder will be using Upper Band and Lower Band to calculate Take profit price. A trader can set their Target Risk Reward Ratio by setting

How to use ATR Stop Loss and Take Profit Finder
ATR Stop Loss and Take Profit Finder is not an indicator, it is only a tool to help the trader quickly find their stop loss/take profit price. t

For open long position, We comment trade to switch mode of 'Type of open Position to be long. Same as short which is need to be changed to short
版本注释
Add table which display the value of Entry Price/ Take Profit Price and Stoploss Price
版本注释
Change Defval of Src 1 and 2 to Close
Update Example Chart
Average True Range (ATR)moneymanagementstoplosstakeprofit

开源脚本

本着真正的TradingView精神,此脚本的作者已将其开源,以便交易者可以理解和验证它。向作者致敬!您可以免费使用它,但在出版物中重复使用此代码受网站规则约束。 您可以收藏它以在图表上使用。

想在图表上使用此脚本?

免责声明