Lakshman Rekha [CSN]

Description:

Lakshman Rekha is a powerful and intelligently designed indicator that automatically identifies Support and Resistance levels using advanced mathematical algorithms based on the Gann Fortune methodology. It dynamically calculates and plots Daily, Weekly, Monthly, and Yearly levels to help traders recognize crucial price zones, potential reversal areas, and breakout points with exceptional accuracy.

This indicator seamlessly integrates the Gann Fortune Algorithm with the Relative Strength Index (RSI) and the Simple Moving Average (SMA) to deliver a well-structured and reliable trading system.
It uses the following configurations on a 5-minute timeframe:

SMA (14-period)

RSI (10-period)

Trading Approach:

In Nifty, traders are advised to book profits after a 60-point move or apply a trailing stop to capture extended trends.

In Bank Nifty, the recommended target or trailing level is 100 points for optimal trade management.

Lakshman Rekha offers traders a balanced combination of algorithmic precision, technical confluence, and price-action reliability.
We are providing free access to this indicator, allowing users to test, experience, and contribute valuable insights to enhance its performance.

This indicator is ideally suited for intraday and short-term swing traders seeking a systematic approach that blends mathematical structure, momentum analysis, and trend confirmation for consistent trading outcomes.