This indicator plots a custom Anchored Volume-Weighted Average Price (VWAP) directly on the price chart along with optional standard deviation bands. Users can anchor the VWAP to standard time periods like sessions, weeks, or months, or to corporate events suc
Indicator · Pine Script v5 · On the chart
ATR Based Stoploss Takeprofit [Muhammad]
This indicator plots ATR-based stop-loss and take-profit levels on the price chart around a simple moving average of the bar midpoint.
GitHub stars5on the repository
Pine versionv5runs as is
Lines of code101
Settings7inputs
LicenceNone stated
Last update2 years ago13 Sep 2024
Add It to Your TradingView Chart
- 1Copy the scriptPress Copy script above. It reads the file straight from GitHub.
- 2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
- 3Paste over the templateCreate a new indicator, select all of the template text and paste. Press Save and give it a name.
- 4Add it to the chartPress Add to chart, then adjust the settings with the gear icon next to its name.
Source Code
The code stays on GitHub. The author has not published this script under an open licence, so ForexR does not show its code. Copy script reads the file straight from GitHub into your clipboard, so you can still try it on your own chart. Ask the author before reusing the code anywhere else.
Overview
ATR Based Stoploss Takeprofit [Muhammad] calculates ATR and tracks the highest one-bar ATR over a lookback, then flags a surge when that high rises. Distances come from either the current ATR or the average of stored surge highs, scaled by separate profit and loss multipliers. Long and short targets sit above and below the average, with stops on the opposite side. A table position setting is available. It does not place trades.
- ATR and midpoint simple moving average
- ATR high surge detection
- ATR or surge-average distance mode
- Long and short stop and target levels
- Separate profit and loss multipliers
Details
Published by
rubystar0512 on GitHub
Code credit
Muhammad, as written in the script's header
Type
Indicator, Pine Script v5
Draws
On the price chart
Category
Volatility & bands, Moving averages, Support & resistance
Markets
Any symbol
Timeframes
Any timeframe
Risk Notes
No repainting, lookahead or stacked entries were found in its code or README. That says nothing about how well it works: test it first.
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| ATR Lookback Period | int | 30 | atrLookbackPeriod |
| ATR Length | int | 14 | atrLength |
| ATR Profit Multiplier | float | 4.0 | atrProfitMultiplier |
| ATR Loss Multiplier | float | 1.0 | atrLossMultiplier |
| MA Length | int | 8 | maLength |
| Stop Loss Take Profit Type | string | ATR Surge Average | stopLossTakeProfitType |
| Table Position | string | Bottom right | tablePosition |
Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.
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