Hyper Trend can help you with setting your stop loss and take profit levels and shows if exisiting price levels are in long zone or short zone. Tune the indicator first for the chart you intend to use Hyper Trend on with the given options. Enjoy !
PS: Multiplier 2 gives results similar to the famous Super Trend indicator developed by Olivier Seban.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.