OPEN-SOURCE SCRIPT
Nitin Swing Trading
This is a CPR which indicates pivot points based on monthly price action.
The Orange line acts as a resistance area, blue lines act as pivot point/CPR and green one is support.
One can study retrospective chart to analyse how market has respected these Support and Resistance levels.
A guide on how to trade using this indicator?
1. If you see the resistance is broken after multiple attempt - We can Go Long
2.If you see price going down below CPR, We can Go Short
3.If you see price taking support at support level - We can Go Long.
Risk reward should always be 1:1 then gradually increase it to 1:2 & 1:3
It is advised to consult with your financial advisor before taking any trade just based on any indicator. You have to manage risk before entering any trade.
The Orange line acts as a resistance area, blue lines act as pivot point/CPR and green one is support.
One can study retrospective chart to analyse how market has respected these Support and Resistance levels.
A guide on how to trade using this indicator?
1. If you see the resistance is broken after multiple attempt - We can Go Long
2.If you see price going down below CPR, We can Go Short
3.If you see price taking support at support level - We can Go Long.
Risk reward should always be 1:1 then gradually increase it to 1:2 & 1:3
It is advised to consult with your financial advisor before taking any trade just based on any indicator. You have to manage risk before entering any trade.
開源腳本
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publications is governed by House rules. 您可以收藏它以在圖表上使用。
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