12-24-2009, 07:54 PM
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#1 |
Join Date: May 2009 Location: reno Thanks: 1
Thanked 2 Times in 2 Posts
| Profit Target Levels Im trying to create an indicator for profit targets. The principle is simple, after close of bar. I take the difference between the high and the low of the bar i enter on plus a number of tics x 2 for first profit tarket x 4 for second target and x6 for third target. i would like the indicator to draw labeled lines on the chart, stop, and all three targets, when I click on the bar I enter on. I will need it to work for both short and long entries.
Example. Short entry- If high of bar is 1120 and low is 1119 that is 4 ticks. I would have a stop of 2 tics from high of bar, i would like this to be an input. My first target would be 4 tics + 2 tick stop x 2 = 12 tics or 1116. 2nd target 1113 and 3rd target 1110.
I am not a EL programmer, any help would be greatly appreciated.
Thank you
TC |
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