Before I begin I want to mention: 1. This is an indicator specially made for NNFX traders who use the ATR rule of ATR1x for Take Profit and ATR1.5x for Stop Loss 2. It is a product of combining the in-built ATR and Dillon Grech's ATR (tradingview.com/script/bbxfw74y-Indicator-ATR-Profit-Loss-DG/)
The indicator: 1. It can be used for a quick look using the lines to see instead of calculating whether price hit a TP or SL. However I have kept the Main ATR for those who want to record the ATR into the spreadsheet when back testing or forward testing 2. When placing a buy/long order, TP is blue and appears above price, SL is red and appears below price 3. When placing a sell/short order, TP is blue and appears below price, SL is red and appears above price 4. The Main ATR, which is yellow, is way below price because I didn't want the chart to be overwhelmed by a 5th line in the middle of 2 TPs and SLs aka make the chart look claustrophobic
@mcsha9, sorry but I don't know how to make an indicator in MT4.
sdi11a
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does anybody know how to make the 4 lines across either not visible/remove ?
sueun123
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@sdi11a, If I'm right I believe that's an inbuilt system so it can't be changed.
iamvanmoog
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Hey Mate, I love your indicator, but I was wondering if I could somehow implement it in my strategy. I want to take the atr value of my entry price as stop loss and take profit. I tried a lot of coding but I can't crack it.
sueun123
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@iamvanmoog, Sorry but I don't know how to code it. I can, however, direct you to the NNFX Discord group that may be able to help you on this.
cloudbursts
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Also, a bug seems to be present. When the indicator is active and I select "Auto" for my chart view, the chart shrinks all the bars into a thin line until I turn this indicator off with the eye-icon
sueun123
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@cloudbursts, I also had those problems when I was new to TDV. Try adjusting the price scale (which is usually on the right of the screen) and let me know if it worked.