Hey! i am a beginner in ue4. i am using ue4 since 2 weeks and i am in love with this amazing and terrific software.
Can anybody tell me how to create good lighting which is dynamic. i want to create sunlight which is good and realisitic.
Can i use LPV?
plEASE DONT TELL ABOUT CODING. I DONT KNOW C++ 
It depends on the situation, is it an interior or an exterior?
My current recommendation is to:
Bake a stationary skylight with a constant skybox cubemap. This will give you realistic ambient occlusion and radiosity without any hard shadows.
Use a movable directional light and LPV with a very low intensity. (~0.3-0.5 depending on the scene) If the scene is entirely outdoors, you can make this a little higher (1 max imo) but the light leaking in interior scenes is typically too extreme to be usable.
So far this has given me great results and the subtle LPV from moving objects looks fantastic.