NVME TP and SL system is an ATR based risk management tool that is designed to identify possible stop loss and take profit points for you to follow depending on the volume generated by the average true range. Sometimes, they zones may be really close together and this often occurs during a ranging period of the market where there is little movement and this can be fixed if you increase the values on the settings. Moreover, you can input your entry price and what position you are looking for such as a short or a long and then the indicator will generate some zones for you to follow too. The zones will not update after every bar close but instead follow the main setting of bar reset period where the indicator will generate new zones if x bars has passed, default is 20.
Features: 3 Take profit zones ( all customisable: colour, atr multiplier, display toggle on and off ) 1 Stop Loss Zone ( all customisable: colour, atr multiplier, display toggle on and off ) Custom Position (Long or Short) Custom Entry Point (Up to 9 decimal places)
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All new code base for this system. More customisation Better user experience and interface Much easier to understand and use New automatic modes - designed for automatic trading 3 style options Added Alerts V2 -- Big Update
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Picture change
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-----Dynamic TP and SL indicator------ >Provides users with areas to take profit and areas to set their stop losses >Nice Simple UI >This isn't a strategy script, this is to be used on top of your entries or ideas >No more internal strategies in this code