earnSmartAlgorithm

MA, MATR, ChEx | All in One - 4CR CUP

In trade position setup, we always need to determine the market structure and manage the position sizing in a short period of decision time. Indicators such as moving average, initial stop loss and trailing stop loss are always helpful.

This indicator put all these handy tools into a single toolkit, which includes the following price action and risk management indicators:


This script further enhances the setting so that you can easily customize the indicators.

For both the Moving Averages and the Moving Average less Average True Range , you can pick a type of moving average which suits your analysis style from a list of commonly used moving average formulations: namely, EMA , HMA , RMA, SMA and WMA , where EMA is selected as default.

The Moving Average less Average True Range , MATR, is usually applied as a reference to set the initial stop loss whenever opening a new position.

The abbreviation, MATR, is picked, so that this can serve as a handy reminder of a very good trading framework as elaborates as below:
M – Market Structure
A – Area of Value
T – Trigger
R – Risk Management ( aka . Exit Strategy)
Release Notes: Adjusted the thinkness of the indicators for clearer visual judgement.
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.

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