This Take Profit (TP) formula is based on my experience trading in Bursa Malaysia.
How to Use : a) User need to key in Entry Price (EP) manually. b) Add in share unit ( default is 10,000 unit or 100 lot c) Indi will draw TP lines, % profit and Gross Profit automatically
Below is the TP formula :
1) Price Below 0.2
TP1 : EP + 0.005 EP + 0.010
TP2 : EP + 0.015 EP + 0.020
TP3 : EP + 0.025 EP + 0.040
2) Price Above 0.2 - 0.995
TP1 : EP + 0.015 EP + 0.025
TP2 : EP + 0.030 EP + 0.050
TP3 : EP + 0.060 EP + 0.100
3) Price Above RM 1
TP1 : EP + 0.030 EP + 0.060
TP2 : EP + 0.070 EP + 0.120
TP3 : EP + 0.130 EP + 0.240
Hope this indicator can help trader set TP properly. Thanks