PROFIT ZONE PRO

Profit Zone Pro:


ProfitZone Pro is a risk-reward indicator that helps traders identify trade setups, manage risk, and set profit targets. Designed for simplicity, this free tool generates entry, stop-loss, and take-profit levels based on support and resistance, Trailing Stoploss and built in automated alerts, with additional features to enhance trade planning, Along with a learning mode based on successful trades made


Features

• Trade Setup Identification: Detects potential buy (long) or sell (short) entries using support and resistance levels, with an optional trend filter based on a 50-period SMA.
  
• Risk-Reward Zones: Displays entry (yellow), stop-loss (red), and take-profit (green) levels, with shaded risk (red) and reward (green) zones.
  
• Position Sizing: Calculates position size based on user-defined risk percentage and account balance.
  
• Breakeven and Trailing Stop: Includes a breakeven feature to move the stop-loss to the entry price at a user-defined percentage of the take-profit distance, and an optional trailing stop to lock in profits.
  
• Confidence Score: Provides a volatility-based confidence score (0-100%) to assess setup reliability.
  
• Learning Adjustment: Adjusts stop-loss distances based on the number of successful trades entered by the user.
  
• Info Label: Shows position size, risk, reward, direction, confidence score, ATR, trend direction (if enabled), and trailing stop status.
  
• Alerts: Sends notifications for entry, stop-loss, take-profit, breakeven, trailing stop, and theme changes.
  
• Customizable Display: Offers options for zone opacity, line styles (solid, circles, dotted), zone labels, and color themes (Light, Dark, Custom).
  

Long Mode Feature:
https://www.tradingview.com/x/0O6wtCdH/

Short Mode Feature:


Trend Filter Feature:
https://www.tradingview.com/x/lwA0zMB8/

Auto Trading Mode:
https://www.tradingview.com/x/36Cx2XP2/

Usage Instructions

• Add the indicator to your chart.
  
• Adjust settings in the indicator’s properties:
  
• Set Risk % of Account and Account Balance to define your risk and position size.
  
• Choose Trade Direction (Auto, Long, or Short) to filter setups.
  
• Enable Trend Filter to align trades with the market trend.
  
• Turn on Trailing Stop and set Trailing Stop % of Reward to lock in profits.
  
• Customize visuals (zone opacity, line style, colors) as needed.
  
• Monitor the chart for entry (yellow), stop-loss (red), and take-profit (green) levels.
  
• Use the info label to view position size, risk, reward, confidence score, and other details.
  
• Set alerts for entry, stop-loss, take-profit, breakeven, and trailing stop events.
  
• After a successful trade, increment Number of Successful Trades to adjust future stop-loss distances.
  

This Script is to help you have a better idea on those famous questions we ask ourselves:

• Entry
  
• Take Profit
  
• Stoploss
  

The confidence score, R:R calculator, Trend Filter, Learning Mode further helps to zone in on accuracy

Happy Trading

- EZ ALGO