OPEN-SOURCE SCRIPT
Aura V14 Bolt -TPSL
Aura V14 - TPSL is a comprehensive trend-following indicator designed to provide high-precision entry and exit points with integrated risk management levels. By combining ATR volatility, Money Flow Index (MFI) dynamics, and CCI momentum, this script filters out market noise and identifies the true direction of the trend.
Core Functionality:
Trend Identification: Features an advanced trend-calculation algorithm that changes bar colors and background shading for instant visual confirmation.
Automated Trade Levels: Upon every new BUY/SELL signal, the indicator automatically projects the following levels on your chart:
Entry Price (EP): Marked with a dashed blue line.
3 Take Profit Levels (TP1, TP2, TP3): Volatility-based profit targets.
Stop Loss (SL): Dynamic capital protection level.
Optimized Usage & Recommendations:
Best Performance: For Day Trading, the 15-minute (15m) timeframe offers the most consistent results.
Long-Term Strategy: For swing trading or more stable long-term trends, the following "Golden Settings" are recommended:
ATR Multiplier (ATM): 5
Multiplier: 5
Alpha Period (A): 14
ATR Period (ALP): 1
Magic Period: 20
Core Functionality:
Trend Identification: Features an advanced trend-calculation algorithm that changes bar colors and background shading for instant visual confirmation.
Automated Trade Levels: Upon every new BUY/SELL signal, the indicator automatically projects the following levels on your chart:
Entry Price (EP): Marked with a dashed blue line.
3 Take Profit Levels (TP1, TP2, TP3): Volatility-based profit targets.
Stop Loss (SL): Dynamic capital protection level.
Optimized Usage & Recommendations:
Best Performance: For Day Trading, the 15-minute (15m) timeframe offers the most consistent results.
Long-Term Strategy: For swing trading or more stable long-term trends, the following "Golden Settings" are recommended:
ATR Multiplier (ATM): 5
Multiplier: 5
Alpha Period (A): 14
ATR Period (ALP): 1
Magic Period: 20
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.