Commercial FV PriceTrend V1

28. Jan. 2023

Hello Traders ,

This is a trend trading Indicator where support and resistance and demand zone has been mentioned , It plots according to the trend change . Important point of the indicator is at time when we enter , just on the bases of buy and sell we enter and most of the time market takes out our SL or market reverses or trend changes , There comes the zones part and its functionality is mentioned in the images below and entry is only confirmed only when the candle penetrates inside the any of the zone be that be Resistance zone or Demand Zone and then breaks the low of the Zone (if trend is bearish) then only one can take short position and high of the zone should be the Stoploss ... Similarly if the trend is bullish and price is between Resistance and Demand Zone , if the price breaks the resistance and continue no long position can be taken , atleast for once it should penetrates back inside the Resistance Zone and then breaks the high of the zone that time long entry will become valid and low of the zone will be the Stoploss and 1:3 Risk Reward . By the way this can work with any type of market. However I concluded Intraday levels too which can be turned off according to user comfortability along with mean channel .

Aqua defines BULLISH TREND
RED defines BEARISH TREND

https://www.tradingview.com/x/kJKiYYkQ/
https://www.tradingview.com/x/0YEPlebp/
https://www.tradingview.com/x/TCR7MXGk/
https://www.tradingview.com/x/rkxfI7EN/
https://www.tradingview.com/x/b90Aoqq1/


Rules for exit
lONG Exit= Candle closes below Zone Low
Short Exit =Candle closes above Zone high

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Disclaimer

Copyright by FaizanNawazz.

The information contained in my scripts/indicators/strategies/ideas does not constitute financial advice or a solicitation to buy or sell any securities of any type. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from the use of or reliance on such information.

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Happy Trading!