Stops and Targets

Author: sbank
Contact: Information not Provided
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Posting Date: 1/19/2019 Download Count: 6
Category: Indicator Rating: (1 votes)
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Summary:
This is a simple visual tool to help set your target priced based off your own stop.

This is a simple tool to place visual reference lines on a chart. The lines are placed
based on the entry point and the stop point which the user decides on their own.

Once these two points are placed on the chart, the target is calculated and
displayed on the chart.

The entry point and stop point are do not "snap" to any point on purpose. This is to
allow people that trade visually bsed on the bar/candles or other indicators (like
ATR lines).

The target is calculated by taking the entry price minus the stop price and
multiplying it by the ratio that you choose (for example 2). It then adds the tick size to
"allow for costs."

Please see the following post in the forum for more examples.
http://groups.wave59.com/viewtopic.php?f=4&t=290


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