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The TX EM Levels indicator is an original risk management tool that addresses a common challenge faced by traders across different time horizons: determining appropriate stop loss and take profit levels that adapt to market volatility and trading style. Unlike standard ATR indicators that simply display raw values, this script introduces a multi-style volatility framework that automatically adjusts risk parameters based on your chosen trading approach.
What This Indicator Does
This indicator transforms the traditional Average True Range (ATR) concept into a practical, multi-dimensional risk management system by:
Calculating Daily ATR Foundation: Uses daily timeframe ATR as the baseline measurement, ensuring consistency regardless of your chart timeframe
Style-Adaptive Scaling: Applies intelligent multipliers based on three distinct trading approaches
Dual-Purpose Display: Provides both visual plot representation and tabular reference data
Real-Time Risk Levels: Displays both Stop Loss (SL) and Take Profit (TP) levels simultaneously
Core ATR Calculation
The indicator employs a multi-timeframe approach by requesting daily ATR data using the request.security() function, regardless of your current chart timeframe. This ensures:
Consistency across different viewing timeframes
Stable volatility measurements not affected by intraday noise
Reliable risk parameters for position sizing
Risk-Reward Framework
The indicator implements a 2:1 risk-reward ratio by default:
Stop Loss levels = Calculated ATR value
Take Profit levels = 2x the Stop Loss value
How to Use This Indicator
Setup Instructions
Add to Chart: Apply the indicator to any timeframe chart
Select Trading Style: Choose from Swing, Intraday, or Scalping in the settings
Configure Display: Toggle the reference table on/off based on preference
Adjust ATR Parameters: Modify length (default 14) and smoothing method if needed
Practical Application
For Position Entry:
Use the calculated SL level as your maximum risk per trade
Set your take profit target at the TP level shown
The values automatically adjust to current market volatility
For Risk Management:
The indicator helps maintain consistent risk exposure across different market conditions
Higher ATR periods = wider stops (trending markets)
Lower ATR periods = tighter stops (ranging markets)
For Multiple Timeframe Trading:
Switch between trading styles without changing charts
Compare how different approaches would affect your risk parameters
Maintain consistent methodology across various instruments
What This Indicator Does
This indicator transforms the traditional Average True Range (ATR) concept into a practical, multi-dimensional risk management system by:
Calculating Daily ATR Foundation: Uses daily timeframe ATR as the baseline measurement, ensuring consistency regardless of your chart timeframe
Style-Adaptive Scaling: Applies intelligent multipliers based on three distinct trading approaches
Dual-Purpose Display: Provides both visual plot representation and tabular reference data
Real-Time Risk Levels: Displays both Stop Loss (SL) and Take Profit (TP) levels simultaneously
Core ATR Calculation
The indicator employs a multi-timeframe approach by requesting daily ATR data using the request.security() function, regardless of your current chart timeframe. This ensures:
Consistency across different viewing timeframes
Stable volatility measurements not affected by intraday noise
Reliable risk parameters for position sizing
Risk-Reward Framework
The indicator implements a 2:1 risk-reward ratio by default:
Stop Loss levels = Calculated ATR value
Take Profit levels = 2x the Stop Loss value
How to Use This Indicator
Setup Instructions
Add to Chart: Apply the indicator to any timeframe chart
Select Trading Style: Choose from Swing, Intraday, or Scalping in the settings
Configure Display: Toggle the reference table on/off based on preference
Adjust ATR Parameters: Modify length (default 14) and smoothing method if needed
Practical Application
For Position Entry:
Use the calculated SL level as your maximum risk per trade
Set your take profit target at the TP level shown
The values automatically adjust to current market volatility
For Risk Management:
The indicator helps maintain consistent risk exposure across different market conditions
Higher ATR periods = wider stops (trending markets)
Lower ATR periods = tighter stops (ranging markets)
For Multiple Timeframe Trading:
Switch between trading styles without changing charts
Compare how different approaches would affect your risk parameters
Maintain consistent methodology across various instruments
Nota Keluaran
This indicator provides automatic Stop Loss (SL) and Take Profit (TP) level calculations based on daily ATR (Average True Range), designed for different trading styles.Key Features:
- Multi-timeframe risk management tool
- Displays SL and TP levels for three trading styles simultaneously
- Based on daily ATR for consistent risk measurement across all timeframes
- Clean table overlay on your chart - no cluttered lines
Settings:
- Length: ATR calculation period (default: 14)
- Trading Style: Select your preferred style (affects calculation in settings)
- Show Reference Table: Toggle table visibility
How to Use:
1. Add the indicator to your chart
2. View the reference table in the bottom-right corner
3. Use the displayed values to set your stop loss and take profit orders
4. Values are automatically calculated based on daily ATR regardless of your chart timeframe
Benefits:
- Eliminates guesswork in position sizing
- Provides objective, volatility-based risk levels
- Works on any timeframe while using daily ATR for consistency
- Helps maintain proper risk-reward ratios (1:2)
Perfect for traders who want a quick reference for risk management without cluttering their charts!
Nota Keluaran
This indicator provides automatic Stop Loss (SL) and Take Profit (TP) level calculations based on daily ATR (Average True Range), designed for different trading styles.Key Features:
- Multi-timeframe risk management tool
- Displays SL and TP levels for three trading styles simultaneously
- Based on daily ATR for consistent risk measurement across all timeframes
- Clean table overlay on your chart - no cluttered lines
Settings:
- Length: ATR calculation period (default: 14)
- Trading Style: Select your preferred style (affects calculation in settings)
- Show Reference Table: Toggle table visibility
How to Use:
1. Add the indicator to your chart
2. View the reference table in the bottom-right corner
3. Use the displayed values to set your stop loss and take profit orders
4. Values are automatically calculated based on daily ATR regardless of your chart timeframe
Benefits:
- Eliminates guesswork in position sizing
- Provides objective, volatility-based risk levels
- Works on any timeframe while using daily ATR for consistency
- Helps maintain proper risk-reward ratios (1:2)
Perfect for traders who want a quick reference for risk management without cluttering their charts!
Skrip dilindungi
Skrip ini diterbitkan sebagai sumber tertutup. Akan tetapi, anda boleh menggunakannya secara bebas dan tanpa apa-apa had – ketahui lebih di sini.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
Skrip dilindungi
Skrip ini diterbitkan sebagai sumber tertutup. Akan tetapi, anda boleh menggunakannya secara bebas dan tanpa apa-apa had – ketahui lebih di sini.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.