A simple visual representation of ATR trading targets. The indicator shows ATR targets (TP and SL) from the last swing points (if you entered there)
There is an option to chose targets for a long or short position.
JD. #NotTradingAdvice #DYOR
I build these indicators for myself and provide them open source, to use for free to use and improve upon, as I believe the best way to learn is toghether.
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Changed the entry value to the "close" at the time of the "pivot signal" instead of the pivot value itself, to have more realistic entry and target points.
JD.
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Added the option to chose between "Average True Range" (ATR) and "Average Pivot Range" (APR) trading targets.
The "APR" or "Average Pivot Range" is an indicator I created that calculates the difference between the highest and the lowest points of the last price swing (the last Pivot Range) and takes an average of that "swing amplitude" over a given lookback period.
The indicator shows ATR targets (TP and SL) from the close of the candle when the swing is detected (to give a realistic entry point) or, in the case of APR, at the last high or low swing points (to show the likely expected extend of the move to the next swing point).
For the APR, the Average Range is calculated seperately for the 'up" and "down" moves, so the expected up move will be different to an expected down move, because of that a factor of "1" is recommended for both TP and SL when using APR.
JD.
ملاحظات الأخبار
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Changed screenshot to APR version
JD.
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Changed faulty logic in APR targets.
JD.
ملاحظات الأخبار
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Updated script to separate the zones better. Thanks to Scarff for the code!!!
JD.
ملاحظات الأخبار
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Modified the averaging logic and removed errors in target calculations for APR
hello sir
very good script .
I want to communicate with you. Your telegram address is incorrect.
Please announce the Telegram ID.
Thank You
Duyck
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@jebra, Hi, strange, I regularly get contacted through my telegram id. in the signature.
Gr, JD.
Disciple_Of_Shiva
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I guess there's a slight problem with this script Sir.. colour changing not happening and also when we customize and save settings and we open a new chart, the settings revert to default in the new chart.. the new saved settings do not apply to the newly opened chart.. could you kindly look into it please? Many thanks again for this superb piece of work Sir!
Duyck
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@Disciple_Of_Shiva, Hi, thanks for the info. I'll have a look to see what I can do.
Gr, JD.
Disciple_Of_Shiva
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@Duyck, Thank you so much Sir.. have a great day ahead :)
Disciple_Of_Shiva
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Fantastic work bro!! Many thanks... was looking for something like this for a long time! Beautiful for intraday and otherwise too! God Bless!
yogeshdlsa2014
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DOES IT REPAINTS ?
Duyck
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Several functions can be selected.
this is the ATR based version (TP x 1,SL x 1.5)
this is the APR based version (TP x 1, SL x 1)
The indicator can also be used as a Trailing Stop,
for clarity you can deselect the TP line to use as TS
ATR based
APR based
You can also chose to color the entry, TP and SL bars.
jonasstigmadsen
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@Duyck, i'm in a deep backtesting fase with this "indicator". Is it possible to change the code so TP also can be uneven numbers? - 1,5 and so on.