ATR Take Profit (T-Maker)

A dead-simple take-profit helper based on ATR.
This script calculates a 14-period Average True Range (ATR) and multiplies it by a user-defined factor, then shows that single number on your chart in a small table (bottom-left). Use it as a quick, volatility-aware distance for setting take-profit levels, scaling out, or gauging whether a move has “room” to breathe.

What it does

• Computes ATR(14) × Multiplier every bar.
  
• Displays the result (rounded to 2 decimals) in a clean on-chart label.
  
• Updates only on the last bar to avoid visual noise and keep performance snappy.
  

Why it’s useful

• Volatility-adjusted targets: ATR adapts to changing market conditions, so your TP distance scales with current volatility.
  
• Instrument & timeframe agnostic: Works on any symbol and timeframe supported by TradingView.
  
• Minimalist workflow: No lines or clutter—just the exact distance to add/subtract from your entry.
  

How to use it

1. Choose your ATR Multiplier (default = 4).
   Example: If ATR(14) = 1.52 and Multiplier = 4 → displayed value = 6.08.
   
2. For a long, a simple TP idea is: TP = Entry + xATR.
   For a short: TP = Entry − xATR.
   
3. Optionally draw a manual horizontal line at your calculated TP level, or use the value to feed your own rules in other scripts.
   Tip: Test different multipliers per market/timeframe (e.g., 2–3 for intraday indices, 3–5 for swing on FX/crypto). Optimize in backtests before going live.
   

Inputs

• ATR Multiplier (int): Scales ATR(14) to your preferred TP distance.
  
• Text Color (color): Customize the display color to match your theme.
  

Notes & Limitations

• Uses ATR(14) (fixed) for consistency in this original version.
  
• Displays a single number only—it does not plot levels, draw lines, or place orders.
  
• Value is rounded to 2 decimals and shown bottom-left of the chart.
  

Version

v1.0 — Original release (minimal, display-only utility)

Created by T-Maker. This tool is for educational purposes only and is not financial advice. Always manage risk and verify settings before trading.