Student Wyckoff Target Shooter

**Target Shooter — Equal Move Target Tool (Larry Williams idea)**

**1. What this indicator does**
Target Shooter is a tool that measures the last meaningful price swing and projects an **equal move target** in the direction of the breakout.

The logic is simple:

* The market makes a move from point A to point B (a swing high to a swing low, or vice versa).
* Then price breaks out above or below this swing range.
* Target Shooter takes the size of that swing and **adds it in the direction of the breakout**, showing a logical **price target zone** where the move may:

* slow down,
* react,
* or potentially reverse.

This is a practical implementation of the “Equal Moves” idea often referenced by Larry Williams.

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**2. Core idea (example)**

Example from the classic explanation:

* Price drops from **80 down to 20** → the move is **60 points**.
* The swing range is now: **High = 80, Low = 20**.
* Later, price **breaks above 80**.

Target Shooter assumes:

> “If the market could move 60 points in one direction, after a breakout it may travel another 60 points in the opposite direction.”

So the upside target becomes:

* Move size: 80 − 20 = 60
* Breakout above 80
* **Target = 80 + 60 = 140**

The indicator finds such swings automatically and draws:

* **UT (Upper Target)** on upside breakouts
* **DT (Down Target)** on downside breakouts

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**3. What you see on the chart**

1. **Target lines**

* When price breaks **above** a previous swing range, the indicator plots a horizontal **UT (Upper Target)** line — the projected equal move target.
* When price breaks **below** the previous swing range, it plots a **DT (Down Target)** line — the downside target.
* Each line is drawn from the breakout bar and extended to the right for a user-defined number of bars.

2. **Price labels**

* A small label “UT” or “DT” is shown at the end of the line with the exact target price.
* This makes it easy to see where the projected target is without checking the scale.

3. **Optional swing range (debug view)**

* There is an option to display the **swing range** that the target is based on (similar to a Donchian channel on previous bars).
* This shows the upper (swing high) and lower (swing low) boundaries the indicator used to define the last move.

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**4. Key inputs (plain language)**

* **Swing window length (bars)**
How many bars back the indicator looks to find the last meaningful swing (highest high and lowest low).
This is like the length of a Donchian channel used to define the previous range.
Smaller values → more frequent, shorter targets.
Larger values → bigger swings and more distant targets.

* **Minimum move size (in ticks)**
This is a noise filter.
If the distance between the swing high and swing low is smaller than this threshold, no targets are drawn.
The indicator will only react to moves that are big enough to matter for your trading.

* **Breakout type: Close vs High/Low**

* **Breakout by Close**:
The target appears only when the **bar closes** above/below the swing range.
More conservative and fewer false signals.
* **Breakout by High/Low**:
The target appears as soon as the **high** or **low** of the bar breaks the swing range.
Faster and more aggressive, but more sensitive to noise.

* **Target line length (bars)**
How far to the right the UT/DT lines should be extended.
Shorter length → local target zones.
Longer length → important levels visible far into the future.

* **Appearance settings**

* Separate color, width and style for **UT** and **DT** lines.
* Option to show or hide labels with price and “UT/DT” text.

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**5. How to use Target Shooter in trading**

> Important: this is **not** an entry signal indicator.
> Target Shooter is a **targeting and context tool**, not a standalone system.

Typical uses:

1. **Planning take-profit zones**

* You already have an entry signal from your own strategy (Wyckoff, Larry Williams patterns, levels, volume, whatever you use).
* Target Shooter shows a **logical equal move target** where the current wave can reasonably “shoot”.
* You can:

* place your main take-profit around the target,
* scale out part of the position,
* tighten stops when price approaches the target.

2. **Finding potential reaction / reversal areas**

* Equal move targets often act as **zones of interest**.
* If price reaches a UT/DT level and then shows weakness/absorption/volume spikes or reversal candles, this might be a good place to take profits or look for counter-trend opportunities (for experienced traders).

3. **Assessing trend strength**

* If price **easily exceeds** the equal move target and keeps going without any reaction, it suggests a very strong trend.
* If price **fails to reach** the target and reverses early, the move is weaker than expected.

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**6. Timeframes**

Target Shooter can be used on:

* **Intraday** (M5, M15, M30, H1) — for shorter-term targets within the day,
* **Higher timeframes** (H4, D1 and above) — for swing and position trades.

General rule:
The **higher the timeframe and the larger the swing**, the **more important** the target level tends to be.

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**7. Notes and limitations**

* The indicator does **not** predict the future.
It simply projects a geometric equal move from the last swing.
* It should be combined with your own trading framework:

* support/resistance,
* Wyckoff / VSA,
* trend tools,
* volume/flow, etc.
* Always keep proper risk management.
A target is a **scenario**, not a guarantee.

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