OPEN-SOURCE SCRIPT
ATR Ticks with Multiplier
This is a simple label "indicator" that allows you to easily view the current ATR(x) and get a multiplier of the ATR for stop loss and take profit target. This allows you to quickly adjust your brackets based on high or low volatility conditions.
For example, if the ATR(5) is 10 points on the NQ, your multiplier stop loss is 1.25, your multiplier for take profit is 2.5 (2R), the ticks show will be 50 for the stop loss and 100 for the take profit.
For example, if the ATR(5) is 10 points on the NQ, your multiplier stop loss is 1.25, your multiplier for take profit is 2.5 (2R), the ticks show will be 50 for the stop loss and 100 for the take profit.
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.