Bewakoof stock indicator**Title**: "Bewakoof Stock Indicator: Multi-Timeframe RSI and SuperTrend Entry-Exit System"
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### Description
The **Bewakoof Stock Indicator** is an original trading tool that combines multi-timeframe RSI analysis with the SuperTrend indicator to create reliable entry and exit signals for trending markets. This indicator is designed for traders looking to follow strong trends with built-in risk management. By filtering entries through short- and long-term momentum and utilizing dynamic trailing exits, this indicator provides a structured approach to trading.
#### Indicator Components
1. **Multi-Timeframe RSI Analysis**:
- The Relative Strength Index (RSI) is calculated across three timeframes: Daily, Weekly, and Monthly.
- By examining multiple timeframes, the indicator confirms that trends align over short, medium, and long-term intervals, making buy signals more reliable.
- **Buy Condition**: All three RSI values must meet these thresholds:
- **Daily RSI > 50** – indicates short-term upward momentum,
- **Weekly RSI > 60** – signals medium-term strength,
- **Monthly RSI > 60** – confirms long-term trend alignment.
- This filtering process ensures that buy signals are generated only in stable, upward-trending markets.
2. **SuperTrend Confirmation**:
- The SuperTrend (20-period ATR with a multiplier of 2) acts as a trend filter and trailing stop mechanism.
- For a buy condition to be valid, the closing price must be above the SuperTrend level, verifying that the market is trending up.
- The combination of RSI and SuperTrend helps to avoid false signals, focusing only on well-established trends.
#### Trade Signals
- **Buy Signal**: When both the multi-timeframe RSI and SuperTrend conditions are met, a buy signal is triggered, indicated by a “BUY” label on the chart with details:
- **Entry Price**,
- **Initial Stop-Loss** (set at the SuperTrend level for risk control),
- **Target 1** – calculated with a 1:1 risk-reward ratio based on the initial stop-loss,
- **Target 2** – calculated with a 1:2 risk-reward ratio based on the initial stop-loss.
- **Exit Signals**: This indicator provides two exit strategies to protect profits:
1. **Fixed Stop-Loss**: Automatically set at the SuperTrend level at the time of entry to limit risk.
2. **Trailing Exit**: Exits are triggered if the price crosses below the SuperTrend level, adapting to potential trend reversals.
#### Labeling & Alerts
The **Bewakoof Stock Indicator** offers intuitive labeling and alert options:
- **Labels**: Buy and exit points are clearly marked, showing entry, stop-loss, and targets directly on the chart.
- **Alerts**: Custom alerts can be set for:
- **Buy signals** when both conditions are met, and
- **Exit signals** triggered by the stop-loss or trailing exit.
#### Use Case and Benefits
This indicator is ideal for trend-following traders who value risk control and trend confirmation:
- **Stronger Trend Signals**: By requiring RSI alignment across multiple timeframes, this indicator focuses only on trades with strong trend momentum.
- **Dynamic Risk Management**: Using both fixed and trailing exits enables flexible trade management, balancing risk and potential reward.
- **Simple Trade Execution**: The chart labels and alerts simplify trade decisions, making it easy to enter, manage, and exit trades.
#### How to Use
1. **Add** the Bewakoof Stock Indicator to your chart.
2. **Watch** for the "BUY" label as your entry point.
3. **Manage the trade** using the labeled stop-loss and target levels.
4. **Exit** on either a stop-loss hit or when the price crosses below the SuperTrend for a trailing exit.
The **Bewakoof Stock Indicator** is a complete solution for trend-following traders, combining the strength of multi-timeframe RSI with the SuperTrend’s trend-following capabilities. This systematic approach aims to provide high-confidence entries and effective risk management, empowering traders to follow trends with precision and control.
Stoplosssignal
STIC bullish and bearish hunter with FVGSmart Trading and Investment Companion (STIC) is a sophisticated tool designed to identify and visualize inducement, market structure, market trends, track liquidity, and project and forecast price action for all applicable assets. it has been tested to work on all timeframes and has been traded on stock, forex, and crypto assets.
This script is an upgraded version of previous STIC indicator, which you can use in addition to it or separately as you deem fit
Traders/ investor that are familiar with market structure, inducement, candlestick psychology, trend-following indicatorsand Fair Value Gap FVG will find it easy to adopt this trading and investment companion. As stated below, this is how it works.
Features and how to use
1st of all, after adding the indicator to yoursuperchart, you want to endusre to set your to so as to enable you see the text labeling clearly. to do that, after adding the indicator to your chart, right click it on the list, you will se the Visual order option.
Special Extreme Alert!
By analyzing the trends and dimensions, we are able to predict market extremes conditions, especially in pump and dump scenarios. (the bullish or bearish P/D extreme alerts).
Market flip arrow
The arrows trigger to indicate when the market flips to bullish (green) or bearish (red) conditions. note that this arrow is just a market flip confirmation and it it triggered by market trends, it does not come one time and sometimes later after market trigger conditions had been met.
circled in white.
Buy or sell potential {The tiny yelow(sell) and blue(buy) triangle}
By analyzing market extreme conditions, market sentiment, and liquidity, the buy/sell potential alert trigger is able to determine the state of the market, This can and should be used in combination with the market flip line (MFL) [the yellow line from , market flip trigger (MFT) (purple line), and market support/resistance line (MSR)(blue line) .
Market flip Line (Blue line) (MFL): the MFL is useful to also understand the market phase; a candle close above the MFL is bullish, while a candle close Below, the MFL is bearish. You are, however, expected to experience market retests and rejections coupled with support and resistance to follow through with the predicted direction. Patience is a valuable virtue in trading.
Extended sell or buy hunt (Red and Green Triangle)
this is real-time triangles indicator just like every other indicator on theis chart that indicates the market direction labeled with buy and sell. Note that the market-extended extreme can occur multiple times in the same direction. Hence, we'll advise having multiple trade entries.
The flip support line
Market Flip Trigger Line (MFTL) (Magenta): When the market crosses and closes below or above the Market Flip Trigger Line, you should wait for a confirmation. a confirmation is usually a retest or rejection of the line. A candle close and reject indicates the market as flip direction and it is going for a correction or major reversal. it is applicable on all timeframe.
As mentioned earlier, if you understand market structure and sentiment, using the uFVG, iFVG, upLQTY, downLQTY and BOS will be easy. however, this is how it works, you may need tohave and expanded readbout market structure for additional knowledge.
upLQTY (Bullish liquidity inducement)
The indicator appear at the close and confirmation on the 3rd candle and it is extended to only appear on 200 bars applicable on all timeframes.
This is a bullish sentiment and liquidty inducement order block that occurs, leading to the break of trend structure and change of character. Meaning the market sentiment as change which is backed up by liquidity in that region, which mostly gets filled, especially on lower timeframes before the price action continues. If price revese breaks and hold above this region, it invalidates the order block. This will always appear when there is a confirmed change of character CHoCH to the bullish side.
downLQTY (Bearish liquidity inducement) The indicator appear at the close and confirmation on the 3rd candle and it is extended to only appear on 200 bars applicable on all timeframes. It is and inverse of the upLQTY.
like order block, these are supply and demand zones that has the potential to change the direction of a trade. This is a bearish order block that occurs, leading to the break of structure and change of character. Meaning there is bearish liquidity yet to be accounted for in the region, which mostly gets filled, especially on lower timeframes before the price action continues. If broken, it invalidates the order block. This will always appear when there is a confirmed change of character from CHoCH to the bearish side.
Fair Value Gap
From general knowledge, FVG also know as Fair value gaps are inbalnace created by a 3 candlestick pattern where the top of the bottom candles doesn't cross the bottom of the top candle. like order block, these are supply and demand zones that has the potential to change the direction of a trade. This mostly indicate the presense of big plays in the market. for STIC indicator, FVG are labeled as listed below;
UFVG, also FVGup, {Colour green box} = bullish imbalance fair value gap
IFVG, aka FVGdown, {Red box} = bearish imbalance fair value gap
OIFVG, {Yellow box, no label} = other imbalances fair value gab
You should not that FG has upper, lower and middle band, any of the this area can be induced and filled by price.
Alert Conditions!
Buy alert conditions
- Any bullish buy alert
- Bullish hunt
- Re-entry Buy
- Sharp Market Sell rejection
- Buy potential
- upLQTY
Long position Exit conditions
- ExtremeB
- Profit
- Sell hunt
The Entry, exit and trail profit alert trigger should be used as position exit conditions either for a Long (Buy) or Short (Sell) situation and should be set as OPB (Once Per Bar). Using it as entry for exit or vice versa as shown not to be very profitable. hence the need to combine with other order entry alerts like the Any bullish or Bearish alerts
Sell alert conditions ( NOTE: All Sell alert are not yet included in this current version as this is targeted towards bullrun.)
- Sell potential
- Sell triangle (Sell hunt)
- downLQTY
and any trail profit alert, this alert put into consideration all the conditions required to trail profit.
Risk management advice
Patience and a good risk management strategy are required to be profitable trader using this tool. You need to ensure not to overleverage, and you should have multiple entries in case the buy coditions/alert shows again below the previous buy alert before a sell condition/alert occurs.
Auto Trailing stoploss By InvestYourAsset💥The Auto Trailing Stop-Loss indicator is a technical indicator that uses the ATR (Average True Range) to calculate a trailing stop-loss for both long and short positions.
💥The signals according to the indicator allows traders to exit from the position before its too late! The indicator can be used to determine when to enter and exit trades.
💥To use the indicator, you simply need to set the input parameters to suit your trading style and risk tolerance. The default values for the parameters are:
p: The ATR period (14)
q: The stop period (20)
x: The multiplier used to calculate the initial high and initial low (1.5)
Calculations:
📈Calculates the ATR using the specified period you can modify ATR period according to your trading style.
📈Calculates the initial high and low stop levels based on the highest high and lowest low over the user defined ATR period.
📈Calculates short and long stoploss levels using the initial high and low stops.
💥Once you have set the input parameters according to your trading style whether you are a day trader or a swing trader, the indicator will plot the short stoploss, long stoploss, and stoploss hit signals on your chart.
💥You can use the indicator to enter and exit trades in a various ways.
For example,
🚀 you could enter a long trade when the price crosses above both red and green lines plotted on the chart. (or when price crosses over both short stoploss and long stoploss.) You could also use the indicator to secure your profits by moving your stop-loss up as the price moves in your favor.
Here is an example of how you could use the indicator to enter and exit trades:
🚀Enter a long trade when the price crosses above the red line or short stoploss.
✅keep Moving your stop-loss upward with the long stoploss or green line.
✅Exit the trade when the price crosses below the long stoploss or green line.
💥You can also use the indicator to protect your existing trades. For example, if you are already in a long trade, you could move your stop-loss up to the short stop when the price moves up 10%. This will help you to protect your profits in case the price starts to move against you.
💥💥some additional tips for using the Auto Trailing Stop-Loss indicator:
✅Use the indicator in conjunction with other technical indicators or your own trading strategy to generate entry and exit signals.
✅Backtest your trading strategy before using it live to make sure that it is profitable.
✅Use the indicator to protect your profits by moving your stop-loss up as the price moves in your favor.
✅ Always follow risk management rules and manage your position sizing according to your risk appetite.
✅ Be aware of the overall trend direction. If the trend is up, you should be looking for bullish reversals or continuations. If the trend is down, you should be looking for bearish reversals or continuations.
This script essentially provides a visual representation of a trading strategy that automatically adjusts stop-loss levels based on market volatility (ATR). It also includes signals for entering long or short positions and visually highlights these signals on the chart.
📣📣Follow us for timely updates regarding future indicators and give it a like if you appreciate the work.📣📣
ATR stoploss bands ATR止损通道线计算方式为开盘价，方便一开始就知道这根k线的止损位置。
用21和1.618作为参数，在btc上经常能看见刚好差一点打破到这个止损，不知是否是我的错觉。
使用方法：
出现信号后，将止损设置在当前k线止损点处，也可以用前一根的止损点，或前几根k线之内的最高价K线的ATR来止损。
TBT Stop Loss Hunting AlertPurpose:
The TBT Stop Loss Hunting Alert is a simple early warning system that indicates when Bitcoin could have unexpected volatility (in either direction) within a 24 to 48 hour time frame as you can see above (indicated by the red bar/column in the indicator lane). By knowing when there could be possible upcoming volatility for the price of Bitcoin, traders can take preventative measures to protect open positions to preserve profits.
Time Frame:
While you can view this indicator on any time frame, it was originally created with the 6-hour time frame in mind. Because of this, the indicator can be set to "same as symbol" (the indicator will adapt to any time frame you use) or "6 hours" (the original and intended time frame). Please understand that the alert will show "noise" (false positive signals) on faster (lower) time frames. This is another reason to keep the indicator on the 6-hour time frame in its settings.
Metrics:
The TBT Stop Loss Hunting Alert looks at sudden/unexpected changes in price action, volatility, and volume.
Realistic Expectations:
While this indicator is effective in alerting users when there could be sudden volatility for Bitcoin, note that there is no way to know which way Bitcoin will move after the alert is triggered. The frequency of alerts is few and far between, but in a way this is a good thing. When the signal is triggered, it is a great early warning system to remember to be careful for the next 24 to 48 hours.
OHO Trend Finder and Trailing Stop LossStudies Used:
We have used different type of moving averages and average true ranges in this indicator.
Usage:
It can be used for scalping and Intra-day trading. It works on all time frames and Scripts.
It provides easy to visualize multiple information:
1) It gives the correct Entry on Time.
2) Fake trends are shown on purple color of trend line .
3) It gives proper Exit on time. or Exit as per your own Risk Reward Ratio.
4) Easy Trailing Stop Loss as per trend line .
How to read OHO® Trend Finder and Trailing Stop Loss Indicator?
Trend line color:
Red = Sell side trailing
Green = Buy side trailing
Purple = No trade zone or Cautious Trade Zone
How to find Sideways?
If Price is above the UpTrend and it's showing a Red color, then it might be a sideways script.
And vice versa If Price is below the DownTrend and it's showing a Green color, then it might be a sideways script.
Recommendations:
Trade is recommended to be closed when price is below UpTrend line (in case of buy side trade) or it is above DownTrend line (in case of sell side trade)
What time frame should I use?
15 Minutes time-frame for Intraday and 1 Hour Time Frame for Swing Trading, But you can check different time-frames and scripts as per your requirements.
Disclaimer:
For any type of queries and suggesions kindly send us personal message.
TradeChartist PowerTrader ProTradeChartist PowerTrader Pro is a versatile Signal generator and Signal plotter on the main price chart based on signals from other compatible scripts like TradeChartist PowerTracer Pro . This elegantly designed script plots the following based on user preference.
BUY and SELL signals based on external compatible signal source
Automatic Targets if opted from settings
Trailing or Fixed Stop Loss based on user input
Take Profit % and Quantity to trade based on user input
PowerTrader Dashboard displaying 14 period RSI, Stoch and 20 EMA
Real-Time Gains Tracker displaying Max Gains and open PnL
Past Performance labels displaying Max Gains and Max Drawdown for each trade
Higher Highs since BUY and Lower Lows since SELL
Once the external Signal is connected to the script, the results based on signal backtester ( TradeChartist PowerTracer Pro Backtester ) can be used to optimise the settings to generate plots and also to set Alerts for the following.
Long and Short Signals
Long and Short Stop Loss Hit
Long and Short TP Hit
Move up/down Trailing SL
To create alerts, the user must choose PowerTrader Pro from the alert condition drop-down and choose the required alert. Since the signals are generated only after confirmation, "Once per bar" must be used for Alerts.
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This is not a free to use indicator. Get in touch with me (PM me directly if you would like trial access to test the indicator)
Premium Scripts - Trial access and Information
Trial access offered on all Premium scripts.
PM me directly to request trial access to the scripts or for more information.
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Stoploss indicatorGood for setting trailing stops and stoplosses when your taking a scalp etc, most recommended for manual trailing stops
Nik Price CycleEvery script follow a pattern in their price cycle. This can be defined by division of price cycle. Division line will act as pivot point.Above this bar this any price movement is indication of bullish trend while below this line any price movement is indication of bearish trend. This Nik price signal will give great result in combination of magicsignal which is also one of our developed signal. Although we have included various calculation for analysis purpose in this indicator. i suggest to go in setting and uncheck all channel lines and shapes for getting clear picture of trend and entry point. for more details on how to use this indicator people can message us
Trailing SL Alerts [QuantNomad]It's alerts version of my Trailing SL strategy:
Use "Once Per Bar" param when creating alerts.
Trade Manager/Pnl and Risk-Reward Panel (Plug&Play)Hello traders
The Trade Manager Standalone is finally back and with many more built-in features.
I. 💎 SCRIPTS ACCESS AND TRIALS 💎
1. No TRIAL is available for that script. Available only with one-time payment on my website .
2. My website URL is in this script signature at the very bottom (you'll have to scroll down a bit and going past the long description) and in my profile status available here : Daveatt
Due to the new scripts publishing house rules, I won't mention the URL here directly. As I value my partnership with TradingView very much, I prefer showing you the way for finding them :)
3. Many video tutorials explaining clearly how all our indicators work are available on your website > guides section.
4. You may also contact me directly for more information
II. 🔎 What is a Trade Manager?🔎
2.1 Concept
Standalone Trade Manager compatible with any indicator.
Once connected, whenever you'll update your Algorithm Builders or your indicator, the Trade Manager Stop-loss, take-profit levels, and analytics get updated automatically. #bold #statement #but #actually #true
2.2 How hard is it to update your indicator?
We'll send to our customers, a comprehensive and easy tutorial, to make any indicator compatible.
I guarantee you, it should take no more than 2 minutes per indicator. We made it easy, fun, and awesome. #bolder #statement
III. The amazing benefits of our🔌&🕹️ (Plug&Play) system
Hope you're ready to be impressed. Because, what I'm about to introduce, is my best-seller feature - and available across many of my indicators.
In TradingView, there is a feature called "Indicator on Indicator" meaning you can use an external indicator as a data source for another indicator.
I'm using that feature to connect any external indicator to our Trade Manager (Plug & Play) - hence the plug and play name. Please don't make it a plug and pray :) it's supposed to help you out, not to stress you even more
Let's assume you want to connect your RSI divergence to your Trade Manager.
I mentioned an RSI divergence but you may connect any oscillator (MACD, On balance volume, stochastic RSI, True Strenght index, and many more..) or non-oscillator (divergence, trendline break, higher highs/lower lows, candlesticks pattern, price action, harmonic patterns, ...) indicators.
THE SKY IS (or more likely your imagination) is the limit :)
Fear no more. The Plug&Play technology allows you to connect it and use it the backtest calculations.
This is not magic ✨, neither is sorcery, but certainly is way beyond the most awesome thing I've ever developed on TradingView (even across all brokers I know). #bold #statement #level #9000
TradingView is the best trading platform by far and I'm very grateful to offer my indicators on their website.
To connect your external indicator to ours, we're using a native TradingView feature, which is not available for all users.
It depends on your TradingView subscription plan ( More info here )
If you intend to use our Algorithm Plug&Play indicator, and/or our Backtest Plug&Play suites, then you must upgrade your TradingView account to enjoy those features.
We value our relationship with our customers seriously, and that's why we're warning you that a compatible TradingView account type is required - at least PRO+ or PREMIUM to add more than 1 Plug&Play indicator per account.
We go in-depth on our website why the Plug&Play is an untapped opportunity for many traders out there - URL available on my profile status and signature
IV. 🧰 Features 🧰
4.1 Stop-Loss Management
For what's following, let's assume that 2 is the stop-loss value you inserted in the indicator, and the Algorithm Builder gives a BUY signal.
This is NOT a recommendation at all, only an example to explain how this feature works.
- %Trailing: The Stop-Loss starts 2% away from the entry price - and will move up (because we're on a BUY trade as per our example) every time your trade will gain 2% profit
- Percentage: The Stop-Loss stays static 2% away from the entry price. There is no trailing here
- TP Trailing: This is a very awesome feature. The stop-loss is set 2% away when the trades start.
When the TP1 is hit, the stop-loss will be moved to the Entry price (also called breakeven).
When the TP2 is hit, the SL is moved to the previous TP1 position
- Fixed: Set the Stop-Loss at a fixed position (value should be in currency/units)
4.2 Take Profits Management
You can manage up to 2 take profit levels defined as a percentage or price value.
The expected input is in percentage value (for instance, setting the % target of TP1 to 2% will set the TP1 level 2% away from the entry price
4.3 Built-in Trade Manager
This is very likely the most loved utility script that we shared on TradingView.
It's included in your Algorithm Builder - Single Trend+, and will certainly help you immensely to analyze your charts and your trades.
We made sure that all the graphical elements on the chart will be updated in real-time whenever our user change anything on the indicator configuration.
You'll also be able to change the Trade Manager labels positions as you wish :)
4.4 Built-in Risk-to-Reward Panel
The good stuff doesn't stop here.
You'll notice that this sometimes green (when in a LONG), sometimes red (when in a SHORT) panel at the right of your chart.
It displays for the selected trading algorithmic (see 2.3.2 above), a ton of useful real-time analytics.
- Entry Price: the price when the Algorithm Builder will give a signal.
- The Trade PnL in percentage.
- Entry Stop Loss: Distance (in currency/units) between the selected stop-loss algorithm (percent, trailing, TP trailing, etc.) and the entry price.
- Entry TP1: Distance (in currency/units) between the entry price and the first take profit
- Entry TP2: Distance (in currency/units) between the entry price and the second take profit
- Risk/Reward TP1: Using the Stop-loss distance at entry, and Take Profit 1 at entry to compute the risk-to-reward ratio.
- Risk/Reward TP2: Using the Stop-loss distance at entry, and Take Profit 2 at entry to compute the risk-to-reward ratio.
For more details, please check the guides section of my website. Links are in my signature and profile status.
4.5 Built-in PnL real-time calculations
YES!!!! you read it correctly
The panel displays the risk-to-reward ratios but also the PnL (Profit and Loss in percentage value) of the current and last trade
V. 🔔 Alerts 🔔
We enabled the alerts on the:
1. Stop-Loss
2. Take Profit 1
3. Take Profit 2
VI. 🤖 Compatible with trading bots? 🤖
I'm very aware of all existing solutions out there allowing us to capture the TradingView alerts (Instabot, ProfitView, ...) and forwarding them to the brokers to automatize your trading.
You'll find a more detailed answer on our website.
If you have any doubt or question, please hit me up directly or ask in the comments section of this script.
I'll never claim I have the best trading methodology or the best indicators.
You only will judge and I'll appreciate all the questions and feedback you're sending my way.
They help me a ton to develop indicators based on all the requests I received.
Kind regards,
Dave
Two MM Cross (Signal version)Hi everyone
This is a dummy two MM cross script to be used for the Trade Manager
I'll publish a video explaining how to use the Trade Manager as I received many questions.
This was my fault for not being clear enough. A video will do great wonders here
Dave
Trade Manager (Open Source Version)Hello my young padawans looking for the FORCE to get richer on your next trade
I got pinged at least three times today asking where the hell is the indicator of the day. You asked, I delivered :)
Here's your free open-source Trade Manager Version. My associates might kill me for sharing that one... anyway this is a real GIFT.
I won't share such quality indicators too often for FREE so hope you'll appreciate its value. It can really help with your day to day trading (on top of making your charts looking more awesome)
This is an even better version compared to my previous Trade Manager Trade-Manager . It's basically a standalone version, meaning you'll have to update with 2 lines your own indicator and follow my educational post from yesterday (pasted it below also) to learn how to do it
Please read this educational post I published for you before proceeding further : How-to-connect-your-indicator-with-the-Trade-Manager
From here you normally connected the data source of your own indicator to the Trade Manager. If not, here's a reminder of the article mentionned above
Step 1 - Update your indicator
For the screenshot you see above, I used this indicator : Two-MM-Cross-MACD/ . "But sir are you really advertising your other indicators here ??" ... hmmm.... YES but I gave them for free so ... stop complaining my friend :)
Somewhere in the code you'll have a LONG and a SHORT condition. If not, please go back to study trading for noobs (I'm kidding !!!)
So it should look to something similar
nUP = ma_crossover and macd_crossover
nDN = ma_crossunder and macd_crossunder
What you will need to add at the very end of your script is a Signal plot that will be captured by the Trade Manager. This will give us :
// Signal plot to be used as external
// if crossover, sends 1, otherwise sends -1
Signal = (nUP) ? 1 : (nDN) ? -1 : na
plot(Signal, title="Signal")
The Trade Manager engines expects to receive 1 for a bullishg signal and -1 for bearish .
Step 2 - Add the Trade Manager to your chart and select the right Data Source
I feel the questions coming so I prefer to anticipate :) When you add the Trade Manager to your chart, nothing will be displayed. THIS IS NORMAL because you'll have to select the Data Source to be "Signal"
Remember our Signal variable from the Two MM Cross from before, now we'll capture it and.....drumb rolll...... that's from that moment that your life became even more AWESOME
The Engine will capture the last signal from the MM cross or any indicator actually and will update the Stop Loss, Take Profit levels based on the parameters you set on the Trade Manager
It should work with any indicator as long as you're providing a plot Signal with values 1 and -1 . In any case, you can change the Trade Manager you'll find a better logic for your trading
Now let's cover the different parameters of the tool
It should be straightforward but better to explain everything here
+Label lines : if unchecked, no SL/TPs/... will be displayed
+Show Stop Loss Signal : Will display the stop loss label. You have the choice between three options :
By default, the Stop Loss is set to NONE. You'll have to select a different option to enable the Stop Loss for real
++Percentage : Will set the SL at a percent distance from the price
++Fixed : SL fixed at a static price
++Trailing % : Trailing stop loss based on percentage level
The following is a KEY feature and I got asked for it many times those past two days. I got annoyed of getting the same request so I just did it
++Trailing TP: Will move the Stop Loss if the take profit levels are hit
Example: if TP1 is hit, SL will be moved to breakeven. If TP2 is hit, SL will be moved from TP1 to TP2
+Take Profit 1,2,3 : Visually define the three Take Profit levels. Those are percentage levels .
Meaning if you set TP1 = 2, it will set the TP1 level 2% away from the entry signal
Please note that once a Take profit level is reached, it will magically disappear. This is to be expected
I'll share in the future a way more complete version with invalidation, stop loss/take profits based on indicator, take profit based on supports/resistances, ...
I believe is such a great tool because can be connected to any indicator. I confess that I tried it only with a few... if you find any that's not working with the Trade manager, please let me know and I'll have a look
PS
I want to give a HUUUUUUUGE shoutout to the PineCoders community who helped me finishing it
Wishing you all the best and a pleasant experience with my work
David
Stop Loss with ExitsStandard Percentage-based Stop Loss for long and short, with configurable extra exit conditions.
Just copy/paste into your script.
Uses "low" and "high" values for crossing the stop loss threshold, but can be changed to "close" if you prefer (change "low" and "high" on lines 31 and 32 to "close")
