[S1B] Leverage Take-Profit-Lines

Short Description:

The Leverage Take-Profit-Lines indicator assists traders in setting take-profit and stop-loss levels based on leverage, entry price, and risk percentage. It draws horizontal lines representing various take-profit levels and the stop-loss level on the chart, aiding traders in visually identifying potential exit points and managing risk.

Detailed Description:

The Leverage Take-Profit-Lines indicator is designed to provide traders with a visual representation of take-profit and stop-loss levels tailored to their leverage, entry price, and risk preferences.

Key Features:

• Customizable Parameters: Traders can adjust parameters such as leverage, entry price, risk percentage, and whether to extend lines to suit their trading strategy.
  
• Take-Profit Levels: The indicator calculates and draws horizontal lines representing different take-profit levels based on the specified percentage of leverage-adjusted entry price.
  
• Stop-Loss Level: It calculates and displays the stop-loss level based on the specified risk percentage and leverage, helping traders manage risk effectively.
  
• Visual Representation: The indicator visually highlights take-profit and stop-loss levels on the chart, facilitating quick decision-making for traders.
  

Usage Guide:
Setting Parameters: Adjust the input parameters including leverage, entry price, risk percentage, and other settings according to your trading strategy.

Interpreting Lines: Horizontal lines are drawn on the chart representing take-profit levels (TP1, TP2, TP3, TP4) and the stop-loss level. These lines indicate potential exit points and risk management levels.
As an example the TP1 can be used to sell 10% of position size, TP2 20%, TP3 20% and TP4 20-40%.

The Leverage Take-Profit-Lines indicator empowers traders with valuable insights into setting profit targets and managing risk effectively, contributing to more informed trading decisions.