ksmuralidaran

Enlighten-Trade

Technical analysts use support and resistance levels to identify price points on a chart to find probabilities to trade a prevailing trend. 


This indicator plots dynamic support and resistance based on price range (all time frames).


Indicator will plot S1, S2, S3, S4 - P - R1, R2, R3, R4 (S = Support, R = Resistance & P = Pivot )


Support breaks when a downtrend was started and price will go below the support level .


Resistance breaks when a uptrend was started and price will go above the support level .


Breakouts provide possible trading opportunities. A breakout to the upside signals traders to possible get long or cover short positions. A breakout to the downside signals traders to possibly get short or to sell long positions.


Breakouts can be subjective since not all traders will recognize or use support and resistance levels.


This indicator shows Dynamic Support & Resistance Levels.
Release Notes: Technical analysts use support and resistance levels to identify price points on a chart to find probabilities to trade a prevailing trend. 


This indicator plots dynamic support and resistance based on price range (all time frames).


Indicator will plot S1, S2, S3, S4 - P - R1, R2, R3, R4 (S = Support, R = Resistance & P = Pivot )


Support breaks when a downtrend was started and price will go below the support level.


Resistance breaks when a uptrend was started and price will go above the resistance level.


Breakouts provide possible trading opportunities. A breakout to the upside signals traders to possible get long or cover short positions. A breakout to the downside signals traders to possibly get short or to sell long positions.


Breakouts can be subjective since not all traders will recognize or use support and resistance levels.


This indicator shows Dynamic Support & Resistance Levels.
Release Notes: GUIDE TO USE ENLIGHTEN-TRADE INDICATOR

ENLIGHTEN-TRADE CAN BE ADDED TO CHART BY SEARCHING THE INDICATOR NAME ENLIGHTEN-TRADE IN THE INDICATOR SECTION IN TRADING VIEW.

LONG (BUY)

1. BUY AFTER BREAKOUT OF R1 (CANDLE CLOSES THE R1 —— RED-COLOURED).
2. TARGET MAY BE R2, R3, R4 —— YELLOW-COLOURED.
3. STOP LOSS MAY BE (P) —— BLUE -COLOURED.
4. OVERBOUGHT CONFORMATION —— YELLOW-COLOURED CANDLES.

SHORT (SELL)

1. SELL AFTER THE BREAKOUT OF S1 (CANDLE CLOSES S1 —— GREEN-COLOURED).
2. TARGET MAY BE S2, S3, S4 —— PURPLE-COLOURED.
3. STOP LOSS MAY BE (P) - BLUE —— COLOURED.
4. OVERSOLD CONFORMATION — — PINK-COLOURED CANDLES.

THE ULTIMATE GOAL OF USING OUR INDICATOR IS TO FIND HIGH PROBABILITY TRADE SETUPS, OUR TOOL SHOWS IT IN A BEAUTIFUL MANNER.

MASTERING A THING WILL NEED DEDICATION AND TIME, SO WE HAVE SPEND TIME WITH THE INDICATOR AND MARKET TO MASTER IT.

INTERPRETING TRADE SETUPS:-

1. IDENTIFYING OPPORTUNITY OF A TRADE SETUP AND WAIT FOR THE BREAKOUT.
2. IF TRADE SETUP WAS REJECTED IT WILL FOLLOW THE OPPOSITE SETUP OR IT WILL CREATE A NEW SETUP.
3. IF PRICE IS BETWEEN THE TWO SETUPS - MARKET WILL BE IN SIDEWAYS.
4. ON SIDEWAYS AVOID TAKING ANY TRADE, MARK THE BREAKOUT PRICE AS AN ALERT AND STAY AWAY FROM THE SCRIPT.

TIME FRAMES ARE MOST IMPORTANT:-

1. DON’T STICK WITH ONE SETUP, ONE TIME FRAME & ONE SCRIPT.
2. HIGER TIME FRAME IS NOT FOR INTRADAY TRADERS TO TAKE TRADES.
3. M1 - H4 IS THE MINIMUM AND MAXIMUM.
4. REST OF THE TIME FRAMES ARE ANALYSIS ONLY FOR INTRADAY TRADER.

MONEY / RISK MANAGEMENT:-

1. TAKE RISK UPT TO 0.5% - 2.5% OF YOUR CAPITAL FOR A TRADE.
2. DECIDE YOUR ENTRY, STOP LOSS AND TAKE PROFIT ON YOUR OWN.
3. PLACE PROPER STOP LOSS AND TAKE PROFIT.
4. MAKE YOURSELF AVAILABLE WHEN YOUR TRADE IS LIVE.
5. STICK WITH YOUR TRADE DISCIPLINE.


HAPPY TRADING & ALL THE VERY BEST.
Release Notes: Enhancements Done
Release Notes: Enhancements Done...

Stop Loss for buy yellow coloured

Stop Loss for sell aqua coloured
Release Notes: Enhancements Done
Release Notes: Enhancements Done...
Release Notes: Enhancements Done...
Protected script
This script is published closed-source and you may use it freely. You can favorite it to use it on a chart. You cannot view or modify its source code.
Want to use this script on a chart?

Comments

It's very aggressive indicator anyone can trade... Must need to Beginners ...
+1 Reply
Using this indicator reduces my time...so useful...Thank you....
Reply
Did you happen to backtest this strategy? Interested in knowing the profitability.
Reply
ksmuralidaran aristomichael
@aristomichael, with the above mentioned instruction it will great profits. Data backtested for the minimum of 10 years and maximum 20 years.
Reply
aristomichael ksmuralidaran
@ksmuralidaran, Thank you.
Reply
Absolute Results
Reply