SMU Emotional Target Candle — Indicator by stockmarketupdate

I've created this script to remind myself what is my target trade entry is for S&P500 as I expect it to drop. See my articles on S&P for more info.

Trading is about physiology and often people get emotional by the price action and enter a trade not matching their plan. So the emotional candle plot the target candle to remind you what your trade entry is visually overriding the last candle.

I've added support and resistance line and a text input to ensure my plan is plotted when I open the chart. Feel free to improve the code and send me a note how it is working for you. Enjoy.

Release Notes:

Minor update to simplify the code for its purpose.

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.

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.

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