OPEN-SOURCE SCRIPT
Trailing Stop + Profit Target
Trailing Stop + Exit Confirmation is a manual-entry tool designed to help traders visually manage trades with dynamic trailing stops and profit targets, based on ATR projections with a toggle button to reset calculations in real-time. Contains a “Short” toggle to work for short positions as well, which automatically inverses the PT and SL lines when toggled on.
Primary Calculations: Utilizes a manually adjustable entry price (default: $5 — ideal for options traders) that (when adjusted and recalculated) populates the chart with an adaptive ATR-based trailing stop line, dynamic profit target line, and optional 21-day EMA for directional context.
Below the Entry Price is a fully functional, manual reset toggle to reset all parameters mid-session to assess risk-reward based on entry price, risk tolerance, etc. followed by the “Short” toggle.
Primary Directions/Functions:
Enter your trade price in the “Manual Entry Price” field.
The script will begin plotting a dynamic trailing stop and profit target based on current market conditions.
Use the reset toggle to clear all calculations and start a new position at any time.
Customizable Settings:
ATR Length and Multiplier
Risk/Reward Profit Target Multiplier
Toggle to show/hide trailing stop, target, and EMA lines
Options Trading Use Case:
This tool is especially useful for options traders looking to manage premium-based entries (e.g., $5.00) on intraday or swing trades. The dynamic stop and target lines provide clear visual cues for scaling out or exiting based on price action, while allowing for tighter or looser risk depending on volatility (ATR).
This tool does not auto-detect entries or backtest positions. It is intended to complement your entry signals, not generate them. I've written an Options Momentum Signal indicator you can find right here
which functions well in tandem with this tool.
Made for traders who execute trades manually and want typical preset guidelines for profit and stop loss signals but lets you recalculate them by simply clicking a button, especially if any major news or downturn causes a big change in market conditions so you can make adjustments in real time.
Primary Calculations: Utilizes a manually adjustable entry price (default: $5 — ideal for options traders) that (when adjusted and recalculated) populates the chart with an adaptive ATR-based trailing stop line, dynamic profit target line, and optional 21-day EMA for directional context.
Below the Entry Price is a fully functional, manual reset toggle to reset all parameters mid-session to assess risk-reward based on entry price, risk tolerance, etc. followed by the “Short” toggle.
Primary Directions/Functions:
Enter your trade price in the “Manual Entry Price” field.
The script will begin plotting a dynamic trailing stop and profit target based on current market conditions.
Use the reset toggle to clear all calculations and start a new position at any time.
Customizable Settings:
ATR Length and Multiplier
Risk/Reward Profit Target Multiplier
Toggle to show/hide trailing stop, target, and EMA lines
Options Trading Use Case:
This tool is especially useful for options traders looking to manage premium-based entries (e.g., $5.00) on intraday or swing trades. The dynamic stop and target lines provide clear visual cues for scaling out or exiting based on price action, while allowing for tighter or looser risk depending on volatility (ATR).
This tool does not auto-detect entries or backtest positions. It is intended to complement your entry signals, not generate them. I've written an Options Momentum Signal indicator you can find right here
Made for traders who execute trades manually and want typical preset guidelines for profit and stop loss signals but lets you recalculate them by simply clicking a button, especially if any major news or downturn causes a big change in market conditions so you can make adjustments in real time.
Open-source Skript
Ganz im Sinne von TradingView hat dieser Autor sein/ihr Script als Open-Source veröffentlicht. Auf diese Weise können nun auch andere Trader das Script rezensieren und die Funktionalität überprüfen. Vielen Dank an den Autor! Sie können das Script kostenlos verwenden, aber eine Wiederveröffentlichung des Codes unterliegt unseren Hausregeln.
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.
Open-source Skript
Ganz im Sinne von TradingView hat dieser Autor sein/ihr Script als Open-Source veröffentlicht. Auf diese Weise können nun auch andere Trader das Script rezensieren und die Funktionalität überprüfen. Vielen Dank an den Autor! Sie können das Script kostenlos verwenden, aber eine Wiederveröffentlichung des Codes unterliegt unseren Hausregeln.
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.