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Supertrend Atr Based Targets

This document outlines a TradingView Pine Script for a Supertrend Breakout Levels indicator, which incorporates T3 and T4 targets based on ATR calculations. It allows users to visualize entry levels, multiple target levels, and stop loss lines on a 1-hour timeframe, with options to toggle each feature on or off. The script dynamically adjusts the lines based on breakout conditions and Supertrend reversals, providing a systematic approach to trading.

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dorab2176
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0% found this document useful (0 votes)
9 views3 pages

Supertrend Atr Based Targets

This document outlines a TradingView Pine Script for a Supertrend Breakout Levels indicator, which incorporates T3 and T4 targets based on ATR calculations. It allows users to visualize entry levels, multiple target levels, and stop loss lines on a 1-hour timeframe, with options to toggle each feature on or off. The script dynamically adjusts the lines based on breakout conditions and Supertrend reversals, providing a systematic approach to trading.

Uploaded by

dorab2176
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as TXT, PDF, TXT or read online on Scribd
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//@version=5

indicator("Supertrend Breakout Levels with T3/T4 (Auto End)", overlay=true,


max_lines_count=100)

// === User Inputs ===


supertrend_length = input.int(10, "Supertrend ATR Length")
supertrend_factor = input.float(3.0, "Supertrend Factor")
atr_length = input.int(10, "ATR Length")

show_entry = input.bool(true, "Show Entry Level")


show_t1 = input.bool(true, "Show Target 1")
show_t2 = input.bool(true, "Show Target 2")
show_t3 = input.bool(true, "Show Target 3 (ATR*6)")
show_t4 = input.bool(true, "Show Target 4 (ATR*8)")
show_sl = input.bool(true, "Show Stop Loss")

// === 1H Timeframe Data ===


[h_close, h_high, h_low] = request.security(syminfo.tickerid, "60", [close, high,
low])

// === Supertrend Calculation ===


atr_st = ta.atr(supertrend_length)
basic_upper = (h_high + h_low) / 2 + supertrend_factor * atr_st
basic_lower = (h_high + h_low) / 2 - supertrend_factor * atr_st

var float final_upper = na


var float final_lower = na
var int st_dir = 1

final_upper := na(final_upper[1]) ? basic_upper : (basic_upper < final_upper[1] or


h_close[1] > final_upper[1] ? basic_upper : final_upper[1])
final_lower := na(final_lower[1]) ? basic_lower : (basic_lower > final_lower[1] or
h_close[1] < final_lower[1] ? basic_lower : final_lower[1])

prev_st_dir = st_dir
st_dir := h_close > final_upper[1] ? 1 : h_close < final_lower[1] ? -1 : st_dir[1]
supertrend = st_dir == 1 ? final_lower : final_upper

plot(supertrend, color=st_dir == 1 ? color.green : color.red, title="Supertrend")

// === ATR Buffer ===


atr_buf = ta.atr(atr_length)

// === Breakout Detection ===


bull_breakout = ta.crossover(h_close, supertrend)
bear_breakout = ta.crossunder(h_close, supertrend)

// === Declare persistent lines ===


var line entry_line = na
var line t1_line = na
var line t2_line = na
var line t3_line = na
var line t4_line = na
var line sl_line = na

// === On Breakout, create lines with extend.right ===


if bull_breakout
entry = h_high + 0.5 * atr_buf
t1 = entry + 2 * atr_buf
t2 = entry + 4 * atr_buf
t3 = entry + 6 * atr_buf
t4 = entry + 8 * atr_buf
sl = entry - 2 * atr_buf

if show_entry
entry_line := line.new(x1=bar_index, y1=entry, x2=bar_index + 50, y2=entry,
color=color.blue, width=1, extend=extend.right)
if show_t1
t1_line := line.new(x1=bar_index, y1=t1, x2=bar_index + 50, y2=t1,
color=color.green, width=1, extend=extend.right)
if show_t2
t2_line := line.new(x1=bar_index, y1=t2, x2=bar_index + 50, y2=t2,
color=color.lime, width=1, extend=extend.right)
if show_t3
t3_line := line.new(x1=bar_index, y1=t3, x2=bar_index + 50, y2=t3,
color=color.lime, width=1, extend=extend.right)
if show_t4
t4_line := line.new(x1=bar_index, y1=t4, x2=bar_index + 50, y2=t4,
color=color.green, width=1, extend=extend.right)
if show_sl
sl_line := line.new(x1=bar_index, y1=sl, x2=bar_index + 50, y2=sl,
color=color.red, width=1, extend=extend.right)

if bear_breakout
entry = h_low - 0.5 * atr_buf
t1 = entry - 2 * atr_buf
t2 = entry - 4 * atr_buf
t3 = entry - 6 * atr_buf
t4 = entry - 8 * atr_buf
sl = entry + 2 * atr_buf

if show_entry
entry_line := line.new(x1=bar_index, y1=entry, x2=bar_index + 50, y2=entry,
color=color.blue, width=1, extend=extend.right)
if show_t1
t1_line := line.new(x1=bar_index, y1=t1, x2=bar_index + 50, y2=t1,
color=color.green, width=1, extend=extend.right)
if show_t2
t2_line := line.new(x1=bar_index, y1=t2, x2=bar_index + 50, y2=t2,
color=color.lime, width=1, extend=extend.right)
if show_t3
t3_line := line.new(x1=bar_index, y1=t3, x2=bar_index + 50, y2=t3,
color=color.lime, width=1, extend=extend.right)
if show_t4
t4_line := line.new(x1=bar_index, y1=t4, x2=bar_index + 50, y2=t4,
color=color.green, width=1, extend=extend.right)
if show_sl
sl_line := line.new(x1=bar_index, y1=sl, x2=bar_index + 50, y2=sl,
color=color.red, width=1, extend=extend.right)

// === On Supertrend Reversal, stop line extension ===


if (prev_st_dir == 1 and st_dir == -1) or (prev_st_dir == -1 and st_dir == 1)
if not na(entry_line)
line.set_extend(entry_line, extend=extend.none)
if not na(t1_line)
line.set_extend(t1_line, extend=extend.none)
if not na(t2_line)
line.set_extend(t2_line, extend=extend.none)
if not na(t3_line)
line.set_extend(t3_line, extend=extend.none)
if not na(t4_line)
line.set_extend(t4_line, extend=extend.none)
if not na(sl_line)
line.set_extend(sl_line, extend=extend.none)

// === Explanation ===


// ✅ Adds T3 (ATR*6) and T4 (ATR*8) to your systematic breakout trading framework.
// ✅ Lines extend until Supertrend reverses, then stop, maintaining clean pivot-
style visuals.
// ✅ Fully compatible with your systematic ATR + Supertrend workflow.

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