Adaptive Target Tracker [wjdtks255]

📊 Adaptive Target Tracker [wjdtks255]
Indicator Description
The Adaptive Target Tracker is a trend-following indicator that combines moving averages with an adaptive ATR (Average True Range) calculation to detect market trends with dynamic sensitivity. It plots entry lines, multiple profit targets (T1, T2, T3), and stop-loss levels directly on the chart, enabling traders to visualize trade setups clearly.

The indicator dynamically adjusts to market volatility, distinguishing between upward (long) and downward (short) trends, and reflects these states with distinct colored lines and labels for precise trade management.

🔍 How It Works
Trend Detection: The indicator calculates smoothed price bands by adding or subtracting ATR to the moving average of highs and lows.
Entry Signal: A crossover of the closing price above the upper band signals a long position; crossing below the lower band signals a short position.
Visual Elements: Entry price, stop-loss line (in red), and three progressively spaced target lines (in blue) are plotted for clear profit-taking guidance.
Confirmation & Alerts: Entry signals are marked with arrows and labels—green for long entries, orange for shorts—to help identify optimal trade points.
Real-Time Update: Lines and labels move forward with the price action and display check marks upon hitting target levels.

💡 Trading Method
Entry: Enter a long trade when the price closes above the adaptive upper band (green entry line and label appear). Enter a short trade when the price closes below the adaptive lower band (orange entry line and label appear).
Profit Targets: Use the three predefined target levels (T1, T2, T3) as incremental profit-taking points. These targets are calculated relative to the entry and ATR to ensure adaptability to market volatility.
Stop Loss: Set stop loss at the red line representing the calculated risk threshold below (for longs) or above (for shorts) the entry price.
Management: Monitor the chart for target achievement; when a target is hit, the indicator marks it with a check symbol. Adjust position exposure accordingly to lock in profits and minimize risk.
Customization: Parameters such as trend window length and ATR offset can be adjusted to suit trading style and timeframes.

Summary
The Adaptive Target Tracker is ideal for traders seeking clear visual trade signals with multi-level exit strategies and volatility-adapted risk management. It helps filter noise and focus on significant trend movements while providing practical entry, target, and stop-loss tools across various timeframes and asset classes.