Ultra Trade Journal

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The Ultra Trade Journal is a powerful TradingView indicator designed to help traders meticulously document and analyze their trades. Whether you're a novice or an experienced trader, this tool offers a clear and organized way to visualize your trading strategy, monitor performance, and make informed decisions based on detailed trade metrics.

Detailed Description
The Ultra Trade Journal indicator allows users to input and visualize critical trade information directly on their TradingView charts.

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1. User Inputs

   Traders can specify entry and exit prices, stop loss levels, and up to four take profit targets.

   
   
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2. Dynamic Plotting

   Once the input values are set, the indicator automatically plots horizontal lines for entry, exit, stop loss, and each take profit level on the chart. These lines are visually distinct, using different colors and styles (solid, dashed, dotted) to represent each element clearly.

   
   
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3. Live Position Tracking

   If enabled, the indicator can adjust the exit price in real-time based on the current market price, allowing traders to monitor live positions effectively.

   
   
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4. Tick Calculations

   The script calculates the number of ticks between the entry price and each exit point (stop loss and take profits). This helps in understanding the movement required for each target and assessing the potential risk and reward.

   
   
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5. Risk-Reward Ratios

   For each take profit level, the indicator computes the risk-reward (RR) ratio by comparing the ticks at each target against the stop loss ticks. This provides a quick view of the potential profitability versus the risk taken.

   
   
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6. Comprehensive Table Display

   A customizable table is displayed on the chart, summarizing all key trade details. This includes the entry and exit prices, stop loss and take profit levels, tick counts, and their respective RR ratios.

   Users can adjust the table's Position and text color to suit their preferences.

   
   
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7. Visual Enhancements

   The indicator uses adjustable background shading between entry and stop loss/take profit lines to visually represent potential trade outcomes. This shading adjusts based on whether the trade is long or short, providing an intuitive understanding of trade performance.

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Overall, the Ultra Trade Journal combines visual clarity with detailed analytics, enabling traders to keep a well-organized record of their trades and enhance their trading strategies through insightful data.