Tool: Auto Target Price

sxw6329 Updated   

The Target Price (TP) is according The Rule of Price Movement. It uses as Target Price for Intraday / Short-term Trader.
With these three categories of price:

1. Price less than RM0.20
2. Price in between RM0.20 - RM1.00
3. Price higher than RM1.00

Each categories with TP1, TP2, TP3.

If your budget is constant, the highest the stock price you purchased, the amount of profit will getting less. The movement of price is more to get same amount of profit compared with lowest stock price. This rule I learned from group of traders, but I found it inconvenience that I have to calculate every times for every trades. I will be trading a lot of error if I do so. Thus I think of to make this rule to an indicator for convenience use.

Pro: Other than Using BB, Support and Resistant, Fib and so on as Target Price, this may be a good reference.
Con: Stock Price which is extremely high may not work well ,because the categories of price is only till price higher than 1.
It may need some adjustment for higher stock price as TP.

Release Notes:
Updated: 27/02/21
Release Notes:
Updated: 30 Jun 2021
Thanks to @RozaniGhani-RG tidy up the code!
Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.


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.

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