Purpose: Target Chaser helps traders assess risk and reward by visually displaying potential gains and losses. Users can input account size, trade direction, take-profit, and stop-loss targets to get an instant trade overview.

How to Apply: Select “Target Chaser [Market Spotter]” from the “Invite-only scripts” section on TradingView.

Characteristics: This indicator combines real-time Profit and Loss (P&L) with key trade metrics like position size and parameters, all in a dynamic HUD. Target Chaser’s intuitive design aids strategic trade planning by visually comparing risk and reward.

Alerts: TradingView alerts are notifications that keep traders informed about specific market conditions or price movements in real-time. Users can set them up based on parameters like price levels or technical indicators. These alerts help traders stay updated and make timely decisions to optimize their trading strategies. You can learn how to set alerts with our indicators by viewing this tutorial.