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Directional Trading

Profit Target Level

$59 / month

A cutting-edge market analysis tool, equipped with Intelligent Wave Clouds and Price Channel features. Predict trends, identify entry and exit points, and seize lucrative opportunities with precision. Elevate your trading strategy with our advanced, user-friendly platform.

Instruments Supported

Stocks, Indices, Commodities, Crypto
Market Conditions Supported

Directional Trading
Supports Options Trading

No
Recommended Timeframes

5 Min, 15 Min, 30 Min, 1 Hr, Daily
Recommended For

Beginners, Intermediate traders, Professional traders, Investors
Supported Trading Types

Swing trading, Long term trading / investment

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Description

Introducing the Wavenode PTL Module: Your Ultimate Profit Takeaway Solution!

Are you tired of second-guessing your trading decisions? Say goodbye to uncertainty and hello to profits with our revolutionary Profit Takeaway Level (PTL) Module!

  • Unlock the Power of Price Action: Leverage cutting-edge price action concepts for accurate future price level forecasts.
  • Seamless Integration: Compatible with any existing trading setup, seamlessly integrates with Wavenodes IWC.
  • Target Your Profits: Serve as the ultimate target for IWC moves and breakouts, guiding towards lucrative opportunities.
  • Optimized for Any Timeframe: Flexibility across major timeframes starting 5min to Daily timeframe, from intraday trading to long-term investments.
  • Visual Clarity: Long PTLs marked in soothing blue, short PTLs in bold red for clear visual cues.
  • Trend Reversal or Continuation: When PTL is hit and price is above, it becomes Stop Loss level for continued trend. Below PTL, it becomes reversal point.
How To Use

Applying WaveNodes Modules: A Step-by-Step Guide

  1. Visit TradingView.com: Go to tradingview.com in your web browser.
  2. Log In: Sign in to your TradingView account using your username and password.
  3. Open Any Chart: Once logged in, open any chart you'd like to analyze.
  4. Click on "Indicators": Look for the "Indicators" option located in the top bar above the chart.
  5. Navigate to Invite-only Scripts: Within the Indicators menu, find and select "Invite-only Scripts".
  6. Select Modules: From the list of available modules, choose the WaveNodes modules you wish to apply to the chart.
  7. Apply Modules: Click on the selected modules to apply them to your chart.

 

PTL Module - Profit Takeaway Level

WaveNodes PTL (Profit Takeaway Level) Module is designed to forecast possible future price levels using price action concepts. It works best in conjunction with WaveNodes IWC (Inter-Wave Correlation) Module to enhance trading decisions and manage positions effectively.

PTL serves as the target for IWC moves and breakouts, indicating the expected price level.

When PTL is not displayed, it suggests a temporary market movement against the forecasted price, prompting the need to hedge positions.

Breakout above the PTL signals further trend buildup, typically with lower position sizes above this level.

Sometimes, the PTL may appear closer on higher timeframes and farther on lower timeframes, with both remaining valid respectively.

Colours:

  • Long PTL: Blue colored
  • Short PTL: Red colored

Note:

Phase sensitivity settings operate independently in WaveNodes PTL Module and WaveNodes Volatility Meter but follow the same logic. To maintain synchronization, sensitivity settings must be adjusted separately in these two modules.