How to Use Manual Levels Plotter

17 sept. 2019

By defining a Structure of the Market you are trading, you can utilize the scaffolding of price as a means to take Low Risk Trades with High Rewards. Take this example of the ES. Levels were drawn beforehand on a larger TF chart. I define the structure of the market as places where either 1. Buyers Beat Sellers, and price shoots up, or 2. Sellers Beat Buyers, and price shoots down. It is at these points of control where price tends to revisit. By analyzing the price action on lower TF charts, we can take minimum 1:3 RR trades as price crosses over these levels. My indicator (tradingview.com/script/Vmi7c6zu-Manual-Levels-Plotter/) makes it a bit easier to keep track of the levels for each instrument you're trading, whether you're on the computer or mobile. By observing Price Action on lower timeframes, we can analyze the trend and strength of the market to take a trade with a predetermined target(the next level above or below) and a predefined risk of 1/3 the profit target.