Engulfing Traps (Beta)
The indicator also detects killzones, which are basically supply and demand zones. We like to think of these as areas of which banks are placing their orders.
The indicator gives the 2 entry lines once the a breakout candle has appeared (red or green arrow on the engulfing)
Once the arrow appears on the breakout candle, the indicator will then draw:
-2 orange lines to box up the engulfing candle
-2 entry lines (dark green)
-SL line (red)
-2 Take profit lines (bright green)
New traps are not taken when a current trap is still active
*This indicator in no way is meant to be 100% accurate, please do your own analysis before placing any trades and trade with proper risk, as this market is extremely volatile and risky. Past profits don't guarantee future results*
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Author's instructions
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Disclaimer
Invite-only script
Only users approved by the author can access this script. You'll need to request and get permission to use it. This is typically granted after payment. For more details, follow the author's instructions below or contact NoRiskFX directly.
TradingView does NOT recommend paying for or using a script unless you fully trust its author and understand how it works. You may also find free, open-source alternatives in our community scripts.
Author's instructions
Warning: please read our guide for invite-only scripts before requesting access.