The probabilities and functions of the indicator are widely used by institutions and professional dealers. despite the fact that no one can predict the motion of the market with 100% accuracy, dealers can gauge the chances that the tool will probably pass in a certain direction for a certain distance in a certain period.

The goal probability Indicator utilizes volatility for the past ” x ” pubs of a currency pair, in addition to probabilistic analysis to find out the probability that the cost will go to the TP/SL levels characterized by the trader (manually moved by traders) on the chosen timeframe (in the parameters) in the specified time period (for how many bars in the future the levels can be reached). The indicator also displays the percentage of probability of triggering a take profit before a stop loss.

Depending on the trader’s requirements, the indicator can use two types of calculations. Some traders believe that markets are chaotic and current price movements occur without any influence of previous movements, i.e. the market is random. In accordance with this approach , the trader can choose a “Random Walk” type, in which the chance of the price moving up or down is 50/50, and the outcome of the probability is determined by the distance to be traveled based on volatility.

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Other traders believe that markets work more harmoniously, although this harmony is complex. Trends matter, and the direction of the trend should give more significance to the expected price movements. The indicator can use the “Weighted Trend” approach to apply greater significance to the probability of price movement based on the direction of the trend and information about the closing of previous candles.

Regardless of what probabilities are given, it is impossible to say which will work first-take profit or stop loss. There may be a 65% chance that a take profit will work, and a 27% chance that a stop loss will work. But this does not mean that the stop loss will not work before the take profit, and this can lead to losses. This only means that the chances of triggering SL in the specified time period are less than the chances of triggering TP. This indicator also shows the probability that the take profit will be triggered earlier than the SL. And this is also a statistical probability and can never be 100%. But this way you can carefully assess your chances of success.

Input parameters

• Show Indicator On Chart-true/false – show / hide the indicator on the chart.
• Calculate By Random Walk-true/false-enable / disable this type of calculation, to use the Weighted Trend parameter must be disabled.
• Calculate By Weighted Trend-true/false-enable / disable this type of calculation, to use the Random Walk Trend parameter must be disabled.
• Calculate Using Which TF-timeframe to determine volatility and trend.
• How Many Future Bars To Use To Reach TP/SL – number of bars llzk estimates of take profit and stop loss. Based on the selected timeframe. For example: on the H1 timeframe, select 24 future bars. The indicator will show the probability of TP/SL triggering within the next 24 hours.

Line and label styles

• Line styles and colors can be customized as desired.
• The label colors can be customized as desired.
• labelshifthours – shift of the label from the current candle. If you have graph shift enabled and want to move the placemark on the screen to the right or left. A positive value moves the labels to the right, a negative value moves them to the left, and 0 (zero) will display the label directly on the current candle (Time[0]).

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