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Indicator PAC With LNL for TradingView

Indicator PAC With LNL for TradingView

Original price was: $13.00.Current price is: $6.00.

The indicator “PAC With LNL” for TradingView combines a Price Action Channel (PAC) with a system called LNL Trend System. This combination is designed to help traders identify potential entry and exit points based on price action and trend analysis. The PAC component visually represents price action, while the LNL Trend System, which uses an ATR calculation, provides signals related to trend direction and strength. 

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Description

The indicator “PAC With LNL” for TradingView combines a Price Action Channel (PAC) with a system called LNL Trend System. This combination is designed to help traders identify potential entry and exit points based on price action and trend analysis. The PAC component visually represents price action, while the LNL Trend System, which uses an ATR calculation, provides signals related to trend direction and strength. 

Here’s a breakdown of the indicator’s components:
1. Price Action Channel (PAC):
  • The PAC is a visual representation of price action, often displayed as a channel or zone on the chart.
  • It helps traders understand price movements and identify potential support and resistance levels.
  • Different PAC implementations may use different calculations, such as EMA or other moving average methods, to define the channel. 
2. LNL Trend System:
  • The LNL Trend System, developed by lnlcapital, is an ATR-based system designed for intraday trading and scalping.
  • It utilizes a combination of Trend Lines and Stop Lines to identify potential trading opportunities.
  • The system is based on a specialized ATR calculation that incorporates previous 13 EMA values.
  • It aims to provide more accurate trend direction and strength signals, especially in sideways markets. 
How to Use “PAC With LNL”:
  • Identify Trend:
    The PAC can help visualize the overall trend, while the LNL Trend System provides more specific trend signals. 

  • Find Entry Points:
    Use the LNL Trend System’s Trend and Stop Lines to identify potential entry points based on trend direction and pullback opportunities. 

  • Manage Risk:
    The LNL Trend System can also help determine stop-loss levels based on the Stop Line. 

  • Confirm Signals:
    The PAC can be used to confirm the validity of signals generated by the LNL Trend System. 

Example:

Imagine a scenario where the price is trending upwards within the PAC. The LNL Trend System might generate a buy signal based on its Trend Line, indicating a potential continuation of the uptrend. The PAC can then be used to confirm that the price is still within the bullish channel and that the buy signal is valid. 

Important Notes:
  • The “PAC With LNL” indicator is a combination of two different systems, so understanding both components is crucial for effective use.
  • Like any trading indicator, it is not foolproof and should be used in conjunction with other analysis techniques.
  • Consider backtesting and paper trading before using the indicator with real money.
  • The specific implementation details and settings of the “PAC With LNL” indicator may vary, so refer to the indicator’s documentation or settings for more information. 

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