This Pine Script creates a trading indicator for TradingView with several key features:
Trade Management:
Take Profit & Stop Loss: Set percentages for take profit and stop loss levels. It also allows for partial exits of your position.
Trend Analysis:
EMAs: Uses multiple Exponential Moving Averages (EMAs) to determine the trend direction and strength.
ADX Indicator: Measures how strong the trend is.
Signals:
Buy & Sell Alerts: Generates buy signals when short-term EMAs cross above long-term EMAs, and sell signals for the opposite.
Volume Bias: Checks if the volume is supporting a long or short position.
Trade Tracking:
Entry & Exit: Keeps track of entry prices, sets trailing stops, and adjusts to break-even points.
Visualization: Draws boxes on the chart for take profit and stop loss levels, and shows on-screen alerts for partial exits and trade hits.
Information Display:
Table: Shows key information like volume bias, trend direction, and trend strength on the chart.
This indicator helps manage trades with clear signals and visual aids, adjusting automatically based on market conditions.