The purpose of this tool is to help the trader determine a safe stop loss price and take profit which dynamically changes due to ATR (Average True Range)
This tool uses the concept of
ATR (Average True Range)
Risk Reward Ratio (Money Management method)
How is ATR Stop Loss and Take Profit Finder working Step 1 ) Tool will calculate TR(True Range Step 2) Then the TR will be used to find the Average value of X time frame, using 5 math models: RMA SMA EMA WMA and LSMA Step 3) The value from Step 2 will be multiplied by the factor, and the result is ATR
After we got ATR Value, the Tool will find 2 lines: Upper Band and Lower Band which will function as a Stoploss value for both Short and Long trade ATR Stop Loss and Take Profit Finder will be using Upper Band and Lower Band to calculate Take profit price. A trader can set their Target Risk Reward Ratio by setting
How to use ATR Stop Loss and Take Profit Finder ATR Stop Loss and Take Profit Finder is not an indicator, it is only a tool to help the trader quickly find their stop loss/take profit price. t
For open long position, We comment trade to switch mode of 'Type of open Position to be long. Same as short which is need to be changed to short
เอกสารเผยแพร่
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Add table which display the value of Entry Price/ Take Profit Price and Stoploss Price
เอกสารเผยแพร่
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Change Defval of Src 1 and 2 to Close Update Example Chart
GOOD VERY GOOD Please, I want the name of the nano indicator TMA where can I find him?? I want the link
finley123
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The description of the code discusses two lines, however, the screenshot above shows a single line coloured coded line that seems to indicate potential entry and exit points. Am I missing something ?
oloizzle
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Thank you for this idea makes a lot of sense someone like me was always struggling with SL/TP now i where to put it 🙏🙏
Please, I want the name of the nano indicator
TMA
where can I find him?? I want the link