PROTECTED SOURCE SCRIPT

ATR Take Profit (T-Maker)

76
A dead-simple take-profit helper based on ATR.
This script calculates a 14-period Average True Range (ATR) and multiplies it by a user-defined factor, then shows that single number on your chart in a small table (bottom-left). Use it as a quick, volatility-aware distance for setting take-profit levels, scaling out, or gauging whether a move has “room” to breathe.

What it does

  • Computes ATR(14) × Multiplier every bar.
  • Displays the result (rounded to 2 decimals) in a clean on-chart label.
  • Updates only on the last bar to avoid visual noise and keep performance snappy.


Why it’s useful
  • Volatility-adjusted targets: ATR adapts to changing market conditions, so your TP distance scales with current volatility.
  • Instrument & timeframe agnostic: Works on any symbol and timeframe supported by TradingView.
  • Minimalist workflow: No lines or clutter—just the exact distance to add/subtract from your entry.


How to use it

  1. Choose your ATR Multiplier (default = 4).
    Example: If ATR(14) = 1.52 and Multiplier = 4 → displayed value = 6.08.
  2. For a long, a simple TP idea is: TP = Entry + xATR.
    For a short: TP = Entry − xATR.
  3. Optionally draw a manual horizontal line at your calculated TP level, or use the value to feed your own rules in other scripts.
    Tip: Test different multipliers per market/timeframe (e.g., 2–3 for intraday indices, 3–5 for swing on FX/crypto). Optimize in backtests before going live.


Inputs

  • ATR Multiplier (int): Scales ATR(14) to your preferred TP distance.
  • Text Color (color): Customize the display color to match your theme.


Notes & Limitations

  • Uses ATR(14) (fixed) for consistency in this original version.
  • Displays a single number only—it does not plot levels, draw lines, or place orders.
  • Value is rounded to 2 decimals and shown bottom-left of the chart.


Version

v1.0 — Original release (minimal, display-only utility)

Created by T-Maker. This tool is for educational purposes only and is not financial advice. Always manage risk and verify settings before trading.

Pernyataan Penyangkalan

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