This indicator calculates a base moving average (EMA, SMA, WMA, or HMA) and projects multiple symmetrical envelope bands around it directly on the price chart. Users can adjust the length, source, moving average type, and initial envelope multiplier. Additiona
Indicator · Pine Script v5 · On the chart
ATR Based Stoploss TakeProfit
This indicator plots a moving average and ATR-based stop loss and take profit levels on the price chart.
GitHub stars5on the repository
Pine versionv5runs as is
Lines of code70
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 calculates ATR, NATR, and surge detection using lookback periods and crossover logic. Settings control ATR lookback, length, profit and loss multipliers, moving average length, and stop loss take profit type. When ATR Surge Average is selected, it averages historical surge levels for dynamic targets. A dashboard table shows fund and profit estimates. All elements draw directly on the price chart with no entry or exit signals. It serves as a visual risk management tool without executing trades and may repaint based on live bar data.
- ATR Stop Loss
- ATR Take Profit
- Moving Average
- Surge Detection
- Profit Dashboard
Details
Published by
rubystar0512 on GitHub
Type
Draws
On the price chart
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.
File
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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