ATR Band, Stop loss , Take Profit Lines, and Pip Distance

8 Okt

# ATR Band, Take Profit Lines, and Pip Distance Indicator

This indicator helps traders identify potential stop loss and take profit levels using Average True Range (ATR) bands and custom multipliers. It provides a visual representation of these levels and calculates the pip distance to stop loss, aiding in risk management and trade planning.

## Key Features:
- ATR-based upper and lower bands for potential stop loss levels
- Two take profit levels above and below the ATR bands
- Customizable ATR period and multipliers for bands and take profit levels
- Pip distance calculation to stop loss levels
- Adjustable colors for all elements

## How to Use:
1. The ATR bands (blue and red lines) suggest potential stop loss levels.
2. Take profit levels are shown as green lines above and below the ATR bands.
3. Labels display the pip distance from the current or last close to the stop loss levels.

## Customization:
- Adjust the ATR period and multipliers to fit your trading style
- Customize colors for better visibility on your chart
- Choose between current candle or last close for pip distance calculation

Remember, this indicator is for informational purposes only. Always manage your risk carefully and consider using it in conjunction with other analysis tools and your trading strategy.

Good luck with your trading!