Dynamic target
A profit-target multiple, not a price, pinned at its 2.5 ceiling on every SPY bar with a value at defaults.
The indicator returns a multiplier, not a price. It starts from 1 plus base_gain times growth_factor raised to the momentum_run input, scales that up 5% per explosive_score point, and multiplies in a volatility factor of 1 plus 10 times ATR/close, capped at 1.5. The result is then capped at max_multiplier. Nothing in this code turns the multiple into a price level.
How to read it
- The line sits in its own pane below the price, not on the candles, because it is a multiple rather than a price level.
- Read values as multiples: 2.5 is the ceiling, and values near 1 mean momentum is adding almost nothing.
- At default settings the line is flat at 2.5 for the whole sample, so the cap binds and the line tells nothing yet. Move a parameter to see it come off the cap.
What it outputs
- Profit-target multiple
- A dimensionless multiple, not a price, capped at max_multiplier. It sat at the 2.5 cap on every bar with a value at defaults.
Settings
- base_gain
- How much momentum lifts the multiple above 1. Raising it reaches the cap sooner; lowering it keeps the line near 1. Negative values pull the multiple below 1.
- growth_factor
- The base of the exponent on momentum_run. Raising it makes the multiple climb far faster as momentum builds; 1.1 is much gentler than the default 1.4. Negative values can raise an error on fractional momentum_run.
- max_multiplier
- The hard ceiling on the output. Raising it lets the line climb above 2.5 when momentum is strong; lowering it flattens the top of the line at a lower level.
Pitfalls
- At defaults the output sat on its cap on every bar, so the presets are untested directions to pull it off the cap; check the line after clicking one.
- It is a multiple, not a price, and nothing in this indicator turns it into a stop or target level on the chart.
- It returns nothing until the momentum_run input has values, so an unwired input shows an empty line.