ATR + % + SL & 3 Targets Dashboard

The ATR + % + SL & 3 Targets Dashboard indicator is a comprehensive risk management tool designed to automate the calculation of volatility-adjusted exit levels and trade metrics directly on the chart. By utilizing the Average True Range (ATR), it provides traders with objective Stop Loss and multi-target Take Profit levels that adapt to current market conditions.

Usage

The indicator can be used to plan trades by visualizing risk and reward parameters in real-time. Traders can choose between using the current live price or a manual entry price to calculate potential trade outcomes.

• Exit Planning: The tool automatically plots a Stop Loss and three Take Profit levels. A common strategy involves using Target 1 for partial profits, Target 2 as the primary objective, and Target 3 for a "runner" position.
• Structure-Aware Stops: When enabled, the indicator can "snap" the Stop Loss to the nearest swing low if it falls within a specified threshold, providing a more technical placement than pure volatility-based stops.
• Key Level Monitoring: The dashboard highlights the proximity to 52-week highs/lows and All-Time Highs (ATH), warning traders if their targets are near significant resistance zones.
• Dashboard Interpretation: The on-chart table displays critical data including the current ATR value, risk percentage per trade, position size based on account equity, and Reward-to-Risk (RR) ratios for all three targets.

Details

The script executes calculations in two primary phases:

1. Phase 1 (Volatility & Key Levels): It calculates the ATR over a user-defined period and identifies historical price extremes (52-week and ATH) to provide context for the current price action.
2. Phase 2 (Structure & Smart SL): It uses pivot point logic to detect swing highs and lows. If the "Smart SL" feature is active, the script evaluates the distance between the ATR-based stop and the nearest technical support to optimize the placement.

Settings

Trade Settings

• Use Manual Entry Price?: Toggle between live price and a specific price point.
• Manual Entry Price: The price used for calculations if manual entry is enabled.
• Account Size ($): Your total trading capital used to calculate position sizing.
• Risk % Per Trade: The percentage of the account you are willing to lose on the trade.

ATR Settings

• ATR Period: The lookback period used to calculate the Average True Range.
• Stop Loss ATR: The multiplier applied to the ATR for the Stop Loss distance.
• Target 1/2/3 ATR: The multipliers applied to the ATR for the respective Take Profit levels.

Structure & Smart SL

• Enable Structure-Aware SL: Snaps the SL to technical swing levels when nearby.
• Auto-Adjust Lookback: Automatically scales swing detection depth based on the chart timeframe.
• Structure Snap Threshold %: The maximum distance allowed for the SL to snap to a technical structure.

Display Settings

• Show SL/TP Lines: Toggles the visibility of the horizontal exit levels.
• Show Dashboard: Toggles the visibility of the trade metrics table.
• Line Length: Determines how far the level lines extend across the chart.

FAQ

How do I use this to determine my position size? The dashboard automatically calculates the "Position Size" based on your input Account Size, Risk %, and the distance between entry and the calculated Stop Loss.

Can I use this for Short trades? This specific version is optimized for LONG trade planning and structure-aware support detection.

How can I access the ATR + % + SL & 3 Targets Dashboard? You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.