Mahesh-Kumar

PROFIT INDEX

Trade is taken based on price closing above or below Breakout line.

Three options are available to trade:

1. FI ( Force Index )
2. RSI ( Relative Strength Index )
3. MACD ( Moving Average Convergence Divergence )

Strategy:

For Long:
1. Price should close Above breakout line (Green). If price is too far after breakout wait for it to come close to EMA 9 or EMA 20 or Breakout line.
2. Two Support lines are displayed for stop loss
3. Three Resistance lines are displayed for targets.
4. Target Multiplier can be used to increase the target levels.

For Short:
1. Price should close Below breakout line (Red). If price is too far after breakout wait for it to come close to EMA 9 or EMA 20 and take the trade.
2. Two Resistance lines are displayed for stop loss
3. Three Support lines are displayed for targets.
4. Target Multiplier can be used to increase the target levels.

Note: Force Index does not work for Indicies
Release Notes: No Major Changes. Renaming RSI title and Displaying Price
Release Notes: Adding Support and Resistance Levels

Long trade only when trend is in Green and Short when the trend is in Red.
Release Notes: Adding few more options and change in Selection Titles
Release Notes: Change in Description of Options
Remove from Favorite Scripts Add to Favorite Scripts

Comments

Sir Can u include Super trend in the script
Reply
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