Trend Target Ribbon
- Indicators
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Shipra Gupta
I’m Shipra Gupta, a trader and quantitative strategy developer with a strong background in mathematics, economics, and algorithmic trading systems. Over the years, I’ve worked extensively across forex, gold, indices, commodities, and crypto markets, focusing on building data-driven trading - Version: 1.10
Trend Target Ribbon [BOSWaves]
Trend Target Ribbon [BOSWaves] is an advanced, multi-faceted trend-following and risk management indicator designed for MetaTrader 5 (MQL5). It combines a smoothed Arnaud Legoux Moving Average (ALMA) core with volatility and slope-based confirmation filters to map out market trends, color-coded dynamic ribbons, and automated multi-tier Risk-to-Reward ($R$) trade projections.
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Key Features
1. ALMA Trend Ribbon & Slope Filtration
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ALMA Smoothing Engine: Uses the Arnaud Legoux Moving Average core line to reduce lag while maintaining smoothness against market noise, configured via adjustable parameters like length, offset, and sigma.
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Volatility & Slope Validation: Confirms trend momentum by measuring standard deviation bands and slope thresholds relative to the Average True Range (ATR).
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Color-Coded Ribbon Fill: Renders an adaptive trend ribbon on the main chart window that dynamically shifts colors depending on whether market momentum is bullish or bearish.
2. Automated Signal Generation
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Flip-Based Signals: Plots prominent upward and downward arrows ($\blacktriangle$ / $\blacktriangledown$) alongside "BUY" and "SELL" text tags whenever a confirmed trend transition occurs.
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Structure-Based Stop Loss: Automatically detects recent swing highs or lows over a configurable lookback window to calculate initial risk parameters, constrained safely within minimum and maximum ATR limits.
3. Multi-Tier R-Multiple Targets & Tracking
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Automated Target Projections: Instantly maps out an entry line, stop-loss line, shaded risk box, and up to four progressive take-profit levels ($T1$ through $T4$) corresponding to $1R$, $2R$, $3R$, and $4R$ targets.
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Live Outcome Monitoring: Continuously scans price action in real time to stamp hits ( x ) onto your take-profit or stop-loss lines directly on the chart, preserving historical trade setups.
Input Settings Guide
Trend Settings
| Parameter | Default | Description |
| AlmaLen | 34 | Period length used for the ALMA calculation. |
| AlmaOffset | 0.85 | ALMA offset parameter controlling curve responsiveness. |
| AlmaSigma | 6.0 | ALMA sigma parameter for window width. |
| DevLen | 34 | Standard deviation lookback length for trend confirmation. |
| DevMult | 0.65 | Multiplier for trend confirmation bands. |
| SlopeLen | 3 | Lookback bars used to measure slope velocity. |
| SlopeMin | 0.08 | Minimum slope requirement (measured in multiples of ATR). |
| AtrLen | 14 | ATR length used for volatility normalization. |
Position & Risk Management
| Parameter | Default | Description |
| StopLookback | 12 | Lookback period to scan for market structure swing points for the stop-loss. |
| MinStopAtr | 0.75 | Minimum allowable stop-loss distance in ATR multiples. |
| MaxStopAtr | 3.0 | Maximum allowable stop-loss distance in ATR multiples. |
| TargetCount | 4 | Number of profit targets to project (between 2 and 4). |
| ExtendBars | 30 | Number of bars to extend the trade projection lines forward. |
| KeepPositions | 4 | Number of historical active trade setups preserved on the chart. |
