The red line, based on ATR, should be used as a percentage gain goal. So I will set my profit targets based on this percentage.
The grey line is based on William's VIX and I use it to judge what RSI I should sell at.
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 a publication is governed by House Rules.
You can favorite it to use it on a chart.
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