OPEN-SOURCE SCRIPT
Position Take Profit and Stop Loss Display
Position Take Profit and Stop Loss Display is a simple visual tool designed to make stop-loss and take-profit distances easier to judge directly on the chart.
The idea is straightforward: chart zoom and candle size can sometimes make a 20, 30 or 50-point move look very different. This indicator keeps a consistent visual reference around the current market price, helping you see exactly what your chosen risk distance looks like in real time.
Features:
• Configurable stop-loss distance
• Optional take-profit levels
• Long, Short or Both directions
• Supports both Points and Ticks
• Levels update dynamically with the current market price
• Customisable line colours, width and style
• Optional labels
• Optional live-price anchor
• Adjustable line length
Example:
If Stop Distance is set to 30 points, the indicator can show a level 30 points above and 30 points below the current price. This provides a quick visual reference for the actual size of that move regardless of chart zoom.
The indicator does not generate trade signals or determine where a stop loss should be placed. It is simply a visual measurement and risk-planning tool.
Originally built for my own intraday trading on NASDAQ and S&P 500 markets, but it can be used on other instruments as well.
Use the Points setting when you want to measure actual price/index points. Use Ticks when you want the distance calculated using the instrument's minimum tick size.
The idea is straightforward: chart zoom and candle size can sometimes make a 20, 30 or 50-point move look very different. This indicator keeps a consistent visual reference around the current market price, helping you see exactly what your chosen risk distance looks like in real time.
Features:
• Configurable stop-loss distance
• Optional take-profit levels
• Long, Short or Both directions
• Supports both Points and Ticks
• Levels update dynamically with the current market price
• Customisable line colours, width and style
• Optional labels
• Optional live-price anchor
• Adjustable line length
Example:
If Stop Distance is set to 30 points, the indicator can show a level 30 points above and 30 points below the current price. This provides a quick visual reference for the actual size of that move regardless of chart zoom.
The indicator does not generate trade signals or determine where a stop loss should be placed. It is simply a visual measurement and risk-planning tool.
Originally built for my own intraday trading on NASDAQ and S&P 500 markets, but it can be used on other instruments as well.
Use the Points setting when you want to measure actual price/index points. Use Ticks when you want the distance calculated using the instrument's minimum tick size.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.