NTL SCALP v2 with TP & SL (Absolute)

NTL SCALP v2 with TP & SL (Absolute) – TradingView Indicator Overview
Indicator Type: Trend-following / Scalping
Timeframe Used in Example: 15-minute (XAUUSD)

Overview:
The NTL SCALP v2 is a trend-based scalping indicator that automatically generates buy/sell signals along with entry points, take-profits (TP1–TP4), and stop-loss (SL) levels. The system is designed to assist short-term traders in identifying potential momentum-based trades within trending conditions.

Key Features:
Buy/Sell Signals:

Signals are generated when price momentum aligns with a predefined trend structure.

The indicator prints a label such as "BUY" or "SELL" at the candle where the entry is detected.

Each trade setup includes an “Entry” price printed on the chart for clarity.

TP & SL Targets:

Upon entering a trade, the system dynamically plots four Take-Profit levels (TP1 to TP4) and a Stop-Loss (SL).

Each TP level is labeled when price reaches it (e.g., “TP3 HIT!”), enabling easy tracking of trade performance.

Visual Trend Bands:

Multiple colored moving average ribbons are displayed to represent short- to medium-term trend directions.

Red ribbons suggest a bearish environment, while green ribbons signal a bullish trend.

The boldest ribbon (likely the 200-period MA) serves as a major trend filter or dynamic support/resistance.

Trading Logic (Simplified):
Buy Conditions:

Price crosses above key moving averages.

Trend shifts to bullish (green ribbons dominate).

A breakout or reversal structure is confirmed.

Sell Conditions:

Price breaks below moving averages.

Trend turns bearish (red ribbons dominate).

Momentum and structure align for a short entry.

Stop-Loss & Take-Profit Rules:
SL is calculated based on recent swing points or volatility buffers.

TP levels are spaced incrementally to allow scaling out or flexible exit strategies.

The labels ("TP1 HIT", "SL HIT", etc.) help monitor trade outcome in real-time.

How to Use:
This indicator is best used during trending sessions (e.g., London/New York overlaps).

Suitable for scalpers or intraday traders who seek quick entries with clear exits.

Recommended to confirm with volume, price action, or other confluence tools.

Disclaimer:
This indicator is a tool for identifying trading setups based on historical patterns and trend behavior. It is not financial advice. Backtest thoroughly and use appropriate risk management.