Secret Profit Levels indicator is positioned as an indicator displaying profit levels for large banks and hedge funds.
indicator displays on the price chart
- The green rectangle is the entrance area to the long position.
- The red rectangle is the entrance area to the short position.
- The green triangle is the exit area from the long position.
- Red triangle - exit area from a short position
Using the Secret Profit Levels Indicator in Trading
Let's consider the use of the Secret Profit Levels indicator on the example of a long position.
- The trend should be upward
- The price should pass 2/3 of the range between the "round" levels. For example, in the EUR/USD uptrend between 1.3000 and 1.3100 we would expect the price to pass 2/3 of this range, approximately to 1.3065, for a buy prerequisite.
- As soon as the price passes 15 pips above this mark, we can open a buy position. In this example the entry point would be at 1.3080-85.
- Stop-loss is set 15 points below the entry point.
- There are two ways to exit a position: conservative and aggressive. With the conservative method, Take Profit is set at the next round level (for this example, it is the level of 1.3200). At the aggressive method take profit is set 15 points above the round level (for this example it is the level of 1.3215).
For a short position, the conditions are the opposite.
According to ForTrader.org experts, Secret Profit Levels indicatorThe trend indicator, in combination with the trend indicator and level indicator can be the basis for a trending strategy.