Golden Duck Runner With Targets

Golden Duck Runner With Targets
Overview
The Golden Duck Runner is a comprehensive trend-following indicator designed for intraday and swing trading. It combines dual EMA analysis with pullback detection to identify high-probability entry points in trending markets.
Key Features
Core Signal Logic

Dual EMA System: Uses a fast EMA (default 18) and trend filter EMA (default 111)
Pullback Detection: Identifies when price pulls back to the fast EMA while staying above/below the trend filter
Trend Confirmation: Only generates signals in the direction of the overall trend

Visual Elements

Dynamic EMA Colors: Golden fast EMA, with trend filter changing from teal (uptrend) to orange (downtrend)
Entry Signals: Clear golden arrows marking buy/sell opportunities
Target Levels: Displays three take profit levels and stop loss with visual confirmation
Professional Dashboard: Real-time position and trend information

Risk Management

Fixed Tick-Based Targets: Consistent risk/reward ratios across all instruments
Multiple Take Profits: Three progressive profit-taking levels (30, 50, 75 ticks)
Stop Loss Protection: 36-tick stop loss with visual tracking
Position Duration Limit: Automatic closure after 20 bars if targets not reached

Alert System
Comprehensive alert notifications for:

Long and short entry signals
Individual take profit level hits (TP1, TP2, TP3)
Stop loss activation
Combined alerts for any entry or profit-taking event

How It Works
Entry Conditions
Long Signal:

Market in uptrend (Fast EMA > Trend Filter EMA)
Price pulls back below fast EMA but stays above trend filter EMA
Price closes back above fast EMA with momentum

Short Signal:

Market in downtrend (Fast EMA < Trend Filter EMA)
Price pulls back above fast EMA but stays below trend filter EMA
Price closes back below fast EMA with momentum

Exit Strategy

TP1: 30 ticks from entry (partial profit)
TP2: 50 ticks from entry (partial profit)
TP3: 75 ticks from entry (final target)
Stop Loss: 36 ticks against entry
Time Exit: 20 bars maximum hold time

Customization Options

Adjustable EMA periods for different timeframes
Configurable stop loss and take profit levels
Toggle visibility of EMAs, signals, and visual elements
Professional color scheme optimized for all chart backgrounds

Best Use Cases

Futures Trading: ES, NQ, YM, RTY with tick-based precision
Forex Pairs: Major and minor currency pairs
Crypto Markets: Bitcoin, Ethereum, and altcoins
Stock Indices: SPY, QQQ, and sector ETFs

Recommended Timeframes

Scalping: 1m, 3m, 5m charts
Intraday: 15m, 30m, 1H charts
Swing Trading: 4H, 1D charts

Educational Value
This indicator teaches traders:

Trend identification and confirmation
Pullback trading strategies
Proper risk management techniques
Multi-target profit-taking approaches

Important Notes

Not Financial Advice: This indicator is for educational and analysis purposes only
Backtesting Recommended: Test on historical data before live trading
Risk Management: Always use proper position sizing and risk controls
Market Conditions: Performance may vary in different market environments

Technical Specifications

Version: Pine Script v5
Overlay: True (plots on price chart)
Alerts: Full alert integration for automated trading systems
Performance: Optimized for real-time data processing
Compatibility: Works on all TradingView subscription levels


Disclaimer: Trading involves substantial risk of loss and is not suitable for all investors. Past performance does not guarantee future results. Always trade with proper risk management and never risk more than you can afford to lose.