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 , you can pick a type of moving average which suits your analysis style from a list of commonly used moving average formulations: namely, , , RMA, and , where is selected as default.
The Moving Average less , 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)
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.