Pip Crosshairs

18 thg 4, 2023

This is a simple tool designed to help you visualize your stop loss and take profit levels before entering a trade. The tool plots two lines on the chart - a green dotted line for take profit and a red dotted line for stop loss (similar to the price line) - with a simulated default spread of one pip factored in. The indicator has the option to toggle between long and short positions.

Please note that the spread used in the tool is not based on your actual spread and should be adjusted accordingly. As, to the best of my knowledge Pine Script does not have the ability to automatically include spread in an indicator, so you will need to input your spread manually. (if you can please let me know cause that would be a game changer).

Overall, should help save you a bit of time by not having to manually measure stop loss and take profit levels for each trade.

Happy hunting :)

18 thg 4, 2023

Phát hành các Ghi chú

corrected short position scripting to correctly include spread :)

19 thg 4, 2023

Phát hành các Ghi chú

for some reason didnt update. short spread calculation fixed now :)

20 thg 1

Phát hành các Ghi chú

A precision trading tool that displays dynamic Take Profit and Stop Loss levels on your chart. Lines automatically stop drawing when price touches them (break-on-touch), giving you a clean visual of untested levels. Perfect for scalping and day trading with customizable pip or percentage-based targets.

What's New (vs Original v4 Script):

Pine Script version: v4 → v6
TP/SL calculation: Pips only → Pips or Percentage toggle
Lines on scale: Always on → Toggle on/off (default off)
Line length: Infinite with offset hack → Customizable bars back/forward
Break-on-touch: Added - Lines stop at price contact
Extend lines option: Added - Toggle for infinite lines
Line thickness: Fixed → Adjustable 1-4
Line style: Fixed → Solid/Dashed/Dotted per line
Entry line: Added - Optional with own styling
Timeframe filter: Added - Show only on specific TF
Labels: Basic → Customizable (name/price/distance toggles)
Risk/Reward table: Added - Optional info panel
Alerts: Added - TP/SL hit alerts
Color transparency: Hardcoded → Full control


Key Features:

Break-on-touch technology — lines only draw from where price last touched them
Dual mode — switch between pips and percentage for any instrument
Timeframe visibility — show indicator only on specific timeframes
Clean chart option — keep prices off the scale by default
Fully customizable labels — show exactly what you need