OPEN-SOURCE SCRIPT
Scalping Entry with TP/SL (1:2 R:R) [v6]
Entry Conditions:
A Buy entry is triggered when the price crosses above the EMA (trend confirmation).
A Sell entry is triggered when the price crosses below the EMA.
Stop Loss (SL):
Calculated using ATR (Average True Range) multiplied by a factor you can adjust (atrMultiplier).
Take Profit (TP):
Calculated using a fixed Risk-to-Reward ratio (riskRewardRatio), defaulted to 1:2.
Visualization:
Entry lines (solid green for Buy, red for Sell).
TP lines (blue dotted) and SL lines (red or green dotted).
Labels for entry points (BUY/SELL).
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
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