Onyx-Day_Trading_Levels

שלשום

This indicator plots dynamic breakout zones useful for day trading.
The breakout of the levels when supported with RSI or other momentum indicator can give good intraday trades.
There can be 2 ways to trade using this levels.
1.Breakout/Breakdown
upon breakdown or breakout of the levels (wait for 5 min candle close) the trade can be triggered with the low of breakout candle as an SL OR high of breakdown candle as SL.
2- Support/Rejection from levels
look out for support or rejection from the levels plotted. the support or rejection need not be exactly from the levels, the levels should be considered as zones and not exact levels for day trading.

this works well on stocks as well as index.
5 MIN Time frame is RECOMMENDED for day trading.
3 min Time Frame can also be used.