Curved Management (Zeiierman)

10 oct. 2023

█ Overview
The Curved Management (Zeiierman) is a trade management indicator tailored for traders looking to visualize their entry, stop loss, and take profit levels. Unique in its design, this indicator doesn't just display lines; it offers rounded or curved visualizations, setting it apart from conventional tools.




█ How It Works
At its core, this indicator leverages the power of the Average True Range (ATR), a metric for volatility, to establish logical stop-loss levels based on recent price action. By incorporating the ATR, the tool dynamically adapts to the market's changing volatility. What sets it apart is the unique curved visualization. Instead of the usual straight lines representing entry/sl levels, users can choose between rounded and straight edges for their take profit and stop loss levels. This aesthetic tweak gives the chart a cleaner look and offers a more intuitive understanding of risk management.

█ How to Apply the Indicator
Upon initially loading the indicator, a label appears that reads, "Set the 'xy' time and price for 'Curved Management (Zeiierman).'" This prompts you to click on the chart at your entry point. After selecting your entry point on the chart, the indicator will load. Ensure you adjust the trend direction in the settings panel based on whether you took a long or short position.

█ How to Use
Use the tool to manage your active position.

Long Entry



Short Entry



█ Settings
The indicator comes packed with various settings allowing customization:

Trade Direction

• Decide the direction of the trade (long/short).
  

Reward multiplier

• Sets the ratio for take profit relative to stop loss. Increasing this value will set your take profit further from the entry, and decreasing it will bring it closer.
  

Risk multiplier

• Multiplier for calculating stop loss based on the ATR value. Increasing this makes your stop loss further from the entry, while decreasing brings it closer.
  

█ Related Free Scripts
Trade & Risk Management Tool


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Disclaimer

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My Scripts/Indicators/Ideas/Algos/Systems are only for educational purposes!