OPEN-SOURCE SCRIPT
ATR news target
This indicator is based on the calculation of the ATR and the use of multipliers to define specific price levels. It is crucial that it is fixed to the price axis.
During periods of high volatility, such as during the release of macroeconomic data, it is essential to understand the magnitude of price movements.
By multiplying the ATR (customizable period) by specific multipliers (customizable variables), exit targets (stop loss and take profit) are determined based on the current volatility, ensuring greater adaptability to the market.
The directionality will be determined by the news, but thanks to the indicator (calculated on the last closed candle), you will have the ability to precisely determine stop loss, take profit, and retracement points.
During periods of high volatility, such as during the release of macroeconomic data, it is essential to understand the magnitude of price movements.
By multiplying the ATR (customizable period) by specific multipliers (customizable variables), exit targets (stop loss and take profit) are determined based on the current volatility, ensuring greater adaptability to the market.
The directionality will be determined by the news, but thanks to the indicator (calculated on the last closed candle), you will have the ability to precisely determine stop loss, take profit, and retracement points.
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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