Profit target line auto draws

keks · 2019-12-06T10:10:27+00:00

Hi, I would like to explore the possibility to visually view profit target using a simple SuperTrend indicator on ProRealtime. In the chart when price changes the trend (orange dots go green for instance), I would like a horizontal line drawn at for example 5atr above in case trend is up. when price touches this line I would like another line to be drawn 5atr above and so on until the trend changes. When a new line is drawn I would like the previous line to stop being drawn. I have attached a sample where I have manually drawn white segments the way I would like them to show up. The lower chart in aqua is ATRcustom simply ATR(14)*5. Thanks!

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12/06/2019 at 11:10 AM #114318 quote

keks
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Hi,

I would like to explore the possibility to visually view profit target using a simple SuperTrend indicator on ProRealtime. In the chart when price changes the trend (orange dots go green for instance), I would like a horizontal line drawn at for example 5atr above in case trend is up. when price touches this line I would like another line to be drawn 5atr above and so on until the trend changes. When a new line is drawn I would like the previous line to stop being drawn. I have attached a sample where I have manually drawn white segments the way I would like them to show up. The lower chart in aqua is ATRcustom simply ATR(14)*5.

Thanks!

chart.png

12/06/2019 at 12:03 PM #114324 quote
Nicolas
Keymaster

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Here is the code to plot the target takeprofit levels as you described:
```
st=Supertrend[3,10]

iatr=AverageTrueRange[14](close)*5
if close crosses over st or close crosses over level  then 
startbar=barindex
level = close+iatr
elsif close crosses under st or close crosses under level then 
startbar=barindex
level = close-iatr
endif

offset = max(1,barindex-startbar)


drawsegment(barindex[offset],level,barindex,level)

return
```
keks thanked this post

supertrend-target-levels.png
12/06/2019 at 1:15 PM #114339 quote

keks
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Amazing!

Looks exactly like I wished. Many many thanks!
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