You Need An Edge In The Markets - Tradingview Has The Tools!👉📈 In the video, we look at a EURUSD trade opportunity, but more importantly, we delve into essential features and tools available on TradingView, which can considerably enhance your trading edge. Here’s what we cover:
✅ 1: Multi-Chart Layout:
- TradingView’s workspace allows you to view multiple charts simultaneously. This feature is particularly useful when analyzing currency pairs like EURUSD.
- By comparing different timeframes or related assets, you gain a broader perspective on market dynamics.
✅ 2: Currency Indexes:
- Currency indexes provide crucial insights. They help answer questions like:
Is the EUR (Euro) truly under pressure?
Is the USD (US Dollar) gaining strength?
- For instance, even if the EURUSD pair appears bearish, understanding the individual currency strengths is vital. Sometimes, two currencies may be trending in the same direction with one slightly stronger than the other.. you might look to avoid trading the currency pair associated with this scenario.
✅ 3: Entry, Stop Loss, and Target Levels:
- We explore how to identify optimal entry points, setting a suitable stop-loss, and define profit targets.
📢Leveraging TradingView’s tools, you can fine-tune your trading strategy and gain a real edge in the currency markets.
📢 Remember, steady conservative and consistant trading, along with rigorous risk management, is key. Happy trading! 🛡️🌟
ATR
How to Use the Supply and Demand Deluxe Indicator
Welcome, fellow traders, to this exciting tutorial where we dive deep into the world of supply and demand analysis using the powerful Supply and Demand Deluxe indicator that I launched this morning. Prepare yourself for an enjoyable learning experience as we unravel the mysteries of supply and demand levels across various timeframes. So, grab your favorite trading beverage, sit back, and let's embark on this adventure together!
Section 1: Understanding Supply and Demand Analysis:
Before we delve into the specifics of the Supply and Demand Deluxe indicator, let's understand the importance of supply and demand analysis in trading. Supply represents the availability of shares or contracts for sale, while demand represents the number of buyers interested in purchasing those shares or contracts. By analyzing the interaction between supply and demand, traders can identify potential turning points, support and resistance levels, and areas of high buying or selling interest. This knowledge forms the foundation of effective trading strategies, and the Supply and Demand Deluxe indicator is here to assist us in this journey.
Section 2: Introducing the Supply and Demand Deluxe Indicator:
The Supply and Demand Deluxe indicator is a powerful tool designed specifically for TradingView. Its primary goal is to identify supply and demand levels on various timeframes, including weekly, daily, and hourly. With visual plots and customization options, this indicator empowers traders to make well-informed decisions based on the principles of supply and demand. It caters to traders of all styles and timeframes, from day traders to long-term investors.
Section 3: Getting Started: Installing and Adding the Indicator to Your Chart:
To begin using the Supply and Demand Deluxe indicator, install it on your TradingView platform. Visit the TradingView website, navigate to the indicators section, and search for "Supply and Demand Deluxe (Stock Justice)." Click on the indicator to access its details and add it to your chart. The indicator will be added and ready to unlock its potential.
Section 4: Exploring the Key Components and Functionalities:
Let's explore the key components and functionalities of the Supply and Demand Deluxe indicator, which help us identify and interpret supply and demand levels effectively.
4.1 Daily and Weekly Pivots:
Daily and weekly pivots provide essential reference points. The indicator allows you to plot the previous week's high and low, yesterday's high and low, and the midpoint of yesterday's range. Visualizing these pivots helps gauge potential areas of interest and determine price behavior.
4.2 Weekly Supply and Demand Levels:
Weekly supply and demand levels are critical for understanding the broader market context. With the Supply and Demand Deluxe indicator, you can plot these levels, customize the number of levels displayed, choose line colors and styles, and decide whether to extend the lines. Enabling the "Show Price" option enhances your analysis.
4.3 Daily Supply and Demand Levels:
Similar to the weekly levels, daily supply and demand levels provide valuable insights into intraday price dynamics. Customize the number of levels displayed, choose line colors and styles, and determine line extensions. Enabling the "Show Price" option visualizes corresponding prices.
4.4 Hourly Supply and Demand Levels:
Intraday traders will appreciate the Hourly Supply and Demand Levels feature. The indicator automatically identifies these levels based on the highest and lowest values of the past 10 bars. Customize the number of levels displayed, choose line colors and styles, and even show prices associated with these levels.
4.5 ATR Expected Moves:
The ATR Expected Moves feature calculates expected price moves based on the Average True Range (ATR). Customize the lookback length and multipliers. Extend lines, choose colors and line styles, and display prices. Incorporating ATR Expected Moves helps set realistic profit targets and manage risk effectively.
4.6 Futures Levels:
For futures traders, the indicator provides specific levels for the Midnight Open, London Open, Asian Open, and the 8:30am EST level. These levels act as potential reference points, aiding in identifying intraday opportunities and aligning trades with global market dynamics.
Section 5: Customizing the Indicator to Fit Your Trading Style:
The Supply and Demand Deluxe indicator offers customization options to align with your trading style and preferences.
5.1 Adjusting Input Parameters:
Fine-tune the indicator by adjusting parameters such as the number of levels plotted, lookback length, multipliers for ATR calculations, and more. Experiment with different settings to better suit your trading strategy.
5.2 Customizing Visual Elements:
Customize line colors, styles, and extension options to enhance aesthetics and readability. Choose colors, line styles, and decide whether to extend lines to the left, right, or both. This level of customization ensures a visually pleasing trading experience.
Section 6: Practical Applications and Trading Strategies:
In this section, we explore practical applications and trading strategies using the Supply and Demand Deluxe indicator.
6.1 Identifying Key Supply and Demand Levels:
The indicator helps identify key supply and demand levels across different timeframes. Analyzing these levels in conjunction with other technical analysis tools can identify high-probability trade setups.
6.2 Using Pivots for Reference Points:
Pivots, both daily and weekly, serve as crucial reference points. Consider price reactions around these pivots and consider them in conjunction with supply and demand levels to gain valuable insights into market dynamics.
6.3 Incorporating ATR Expected Moves in Risk Management:
Use the ATR Expected Moves feature for risk management. Set realistic profit targets and define appropriate stop-loss levels based on expected price moves. This statistical framework helps adjust position sizing and manage risk effectively.
Section 7: Tips and Tricks for Maximizing the Indicator's Potential:
To enhance your trading experience with the Supply and Demand Deluxe indicator, consider these tips and tricks:
7.1 Leveraging Different Timeframes:
Analyze supply and demand dynamics across different timeframes. Use higher timeframes for overall market context and lower timeframes for precise entries and exits. Combining multiple timeframes improves analysis accuracy.
7.2 Combining Multiple Timeframes:
Combine the Supply and Demand Deluxe indicator with other technical analysis tools such as moving averages, oscillators, or chart patterns. This synergy provides confirmation signals and increases the probability of successful trades.
Section 8: Conclusion:
Congratulations on completing this comprehensive tutorial on the Supply and Demand Deluxe indicator! We've covered the fundamental concepts, explored features and functionalities, and discussed practical applications and trading strategies. Experiment with different settings, customize visual elements, and integrate the indicator into your trading plan. As you gain experience, you'll be well-equipped to make informed trading decisions. Keep exploring, stay disciplined, and may the markets bring you success!
Introducing the Volatility Adjusted ADX (VADX)In this video, Stock Justice introduces you to the Volatility Adjusted ADX (VADX), a powerful tool that combines trend strength and market volatility. Learn how to customize your settings for optimal analysis and how this indicator, with its proprietary mathematical formulation, offers a nuanced perspective on market dynamics. Discover the benefits of normalized data and how to read and interpret the VADX line in conjunction with other indicators. All of this, delivered in Stock Justice's engaging style, will empower your technical analysis toolkit. Be ready to trade safe, trade smart!
Live Trading Session 211: Trade ManagementIn this live trading session video, we are looking at how we are managing our short trade position on GBPUSD based on stop taking and continuation move patterns. We also take a slight look on the stretch principle and how it correlates onto the higher timeframes for the bar range to form.
ADX/DMI + ATR Trading Rules This trading setup & trading rules has over an 80% win rate! 400+% in one month on 1H chart! Set TP at 2 times the ATR for entry candle. Set SL at Highest High or lowest low + 0.5 ATR for a cushion.
Q for the community. Is the ATR valuable based against volume?I have to say that one of the most confusing indicators for me is the ATR indicator. it has the tolerance to move up or down which will tell you that you are gaining volatility or losing volatility. when you are gaining volatility above a certain amount on an asset is when it's a good time to trade. but there's nothing that tells us exactly when is that certain amount. also the gain above that unspecified amount changes between different assets and pairs that you trade.
another thing that discerns me from using the ATR Is that it's movement is related to price movement. well unfortunately we know that in the markets price can be manipulated which manipulates momentum. but the one thing it cannot be manipulated is volume.
so in today's video I'm asking a question to the community which is what happens for you guys as a benefit when the ATR is based against volume and calculated against the movement of volume.
also in today's video I show you guys how I have figured out a way for the ATR to tell you that you are just broken above the average volatility or just broken below the average volatility.
just because you are above average volatility doesn't mean you are still in a good trading area. just because you've broken above average volatility doesn't mean you can enter into a trade immediately. you also and always need extra confluences so with that being said I added this break of the average to the upside or downside into the bull bear power void and I created a method for the oscillator to spit out a simple pair of colors which you can change on your own that tell you you have just entered above average or below average volatility and as such you can start looking for your move or your exit.
so my question to the community is how relevant is volatility against volume in your indicators and trading strategies. also I'd like this to have a better layout or way of signifying you that you have broken above or below average volatility.
leave your ideas in the comments below.
Strategy Coding E01: Adding a custom Trailing-StopIn my experience there are phases to creating a strategy. In this episode we will cover one of the most important steps: establishing an exit strategy. Exiting a position is crucial to risk management. If your entries are terrible but you have a good exit strategy, you might get by and not lose a lot of your capital. And vice-versa, if your entries are great, but your exit strategy is terrible, you my not make any profit.
Concepts we will cover in this episode:
Integrating an indicator value as a trailing stop.
Lowering the trailing stop sensitivity by using the Average True Range (ATR).
Customizing the ATR value.
Brief introduction to 'modules'.
Is the SPY carving out a bottom? A Bollinger and MA study. In this video I discuss the importance of the 3rd standard deviation from the 50 SMA on the SPY, QQQ, and NDX. Details in video.
TLDR:
The SPY has found itself at extremes: The Stochastic, the ATR, and the 3rd standard deviation (lower Bollinger Band) on the weekly timeframe all show this.
Pull up the weekly SPY, add the Bollinger Band - go to settings: change the period to 50 and the stnddv to 3, add ATR, add Stochastic, add the 50 SMA - these will paint a picture of the extremes
Study the corrections vs the crashes, 00', 08', 18', 20', 22' - ask yourself: is this a correction or a crash?
Consider the extremes and consider the history of corrections/crashes and how they uses these extremes.
I have heard this argument A LOT last week: " The NASDAQ and IWM are already at -30%.....if the SPY is to go lower that means the NASDAQ may go to -45% and THIS is not possible."
---> I beg to differ, but recognize the importance of the Bollinger bounce. Look at the dot com bubble and the housing market crash, extremes can be used as a trend line for extended periods.
Remember, nothing goes straight down or up, there is always trending days/periods and range days/periods. It is best to be able to quickly identify which type of day/period you are trading in in order to ultimately use your indicators correctly.
Although I remain in the bear camp, I am absolutely open to the idea of a huge massive bounce here before the 200 SMA is tested. This bounce may come with a test of the 50 SMA in the 440's - where is goes from there I am not yet ready to speculate on. Since though I am remaining bearish, I do see a higher probability of the 200 SMA being tested before the real rally to the 50 begins. Either way, I do expect a rally in the near term, news and catalysts aside.
Please watch the video for a more detailed look, and please chart this out yourself to draw your own conclusions.....as these are ONLY my opinions and NOT financial advise.
ATR and RSI in price actionI explain in this video how I view the relationship between ATR and RSI in true trend following situations. This is not about trend continuation or harmonics.
This is on the India50 - a 2H time frame. But always one has to look higher to understand the risk and rebellions that may be ahead.
Trading is not about investing. It is primarily about exploiting parts of trends. So you're in and out of the markets, to catch a slice of some trend.
There are bound to be losses. You absolutely cannot make profits without suffering losses.
The business of minimising losses and maximising winning positions - in trend following - has no strict formula. It is about experience in the markets. And each market/instrument has its own personality.
For tend followers taking some or all profits in a deep RSI trench is a good thing. The ATR can show important trend switches.
There are trading platforms that can be programmed to follow the ATR (or any other indicator), in trend following. (House rules do not permit me to mention here). On such platforms one can program a trade to close if price is above or below a certain figure on the RSI.
Disclaimer: This is not advice or encouragement to trade securities or any asset class. This is not investment advice. Chart positions shown are not suggestions intended to assure you of an advantage. No predictions and no guarantees are supplied or implied. The author trades mostly trend following set ups which have a low win rate of approximately 40%. Heavy losses can be expected if trading live accounts or investing in any asset class. Any previous advantageous performance shown in other scenarios, is not indicative of future performance. If you make decisions based on opinion expressed here or on my profile and you lose your money, kindly sue yourself.
GET READY - is the DJI setting up for a major correction?In this video, I compare the movements of the DJI with the DAX.
There are no predictions here. What I am saying, is to get ready.
Price can move in any direction but there is a 4H ATR trendline indicating that the trend strength is for the south.
As I cannot predict the future, this scenario is only relevant up to the time of posting. The markets can do as they like and prove me wrong.
Disclaimer: This is not advice or encouragement to trade securities or any asset class. This is not investment advice. Chart positions shown are not suggestions intended to assure you of an advantage. No predictions and no guarantees are supplied or implied. The author trades mostly trend following set ups which have a low win rate of approximately 40%. Heavy losses can be expected if trading live accounts or investing in any asset class. Any previous advantageous performance shown in other scenarios, is not indicative of future performance. If you make decisions based on opinion expressed here or on my profile and you lose your money, kindly sue yourself.
Tutorial | How To Calculate "Flush Zones" Using ATRHoly sell-off Batman. Today we finally had some volatility, and a 2-3% down day in the stock indices. This range expansion seems like a perfect day to come back with another lesson on market tendencies and using ATR to calculate flush zones. What's a flush zone you ask? It's where the weak hands get flushed.
For this lesson, I'm using prior session lows as the levels to measure the zone, but you can apply this concept to any significant level. And remember, you can do this with any instrument. Try it in AAPL or BTCUSD or your favorite symbol.
Tutorial | How To Use ATR & Volume Profile To Project Highs/LowsThere are many ways to project price levels when looking at un charted territory (e.g. new highs). Elliot Wave, Gann, fractals, Fibonacci, or a measured move, all are methodologies that can provide levels to watch to predict range expansion when there is no price to reference.
In this lesson, I show how to use another approach, utilizing the 7-Day Average True Range (ATR) and the prior session Point of Control (POC).
Settings
ATR
Period: 7 Day
EMA
P.S. I didn't mention in the video, but check out how well an ATR Projection worked leading into Jackson Hole Friday. 4470 prior day POC to a high the next day at 4510. I went to California schools, so math ain't my strong suit, but I think that's 40 points or 1 ATR.
Futures Levels | Look Ahead For the Week of Aug 15There's nothing much to see in the stock indices as the trends, or lack thereof (RTY1!), have continued. This week I'll be watching the 10Y rate to see if a retest of the recent lows matters at all to the broader market.
When things are slow, it's good to measure just how slow. I like to use the 7-D ATR to gauge volatility and I explain how to do so in this post.
How to set the RIGHT Stop loss!Hey hey traders!!
Setting the "right" stop loss is a vital skill, yet for many traders... its a random act. This video will help you find stcutrue in setting the right stop loss, a stop loss that has the best chance of not being hit and allowing your trade to workout!
For us that comes down to basics:
1. Use the ATR value
2. Enter only via the fibs (definite entry)
and by following this process we have achieved great things so far, even increased our win ration by a solid 12% in February (since we added it)
If you have questions, feel free to ask!
All the best and good luck trading!
Break and Retest for EURNZD 15 min walkthrough I noticed this setup at the market open. I thought I would share some of my thought processes when entering a trade.
Bitcoin Dip Buying - Part 0: Coding the IndicatorThis is a prequel video for a series on how to identify and buy liquidation dips in Bitcoin and other cryptocurrencies. Most aspiring traders do not have time to dig into the full process of becoming a successful trader and instead want to skip straight to making millions of dollars so this video is labeled as Part 0; it is optional. This video is for those that want an overview of Tradingview's Pine Script coding so that they may better understand what it takes to build a trading strategy from scratch.
Lowest Low ValueThe Lowest Low-Value indicator plots the lowest low price over a specific period.
Previously on my another video called "Highest High Value Indicator (HHV)" I explained how we can combine HHV with MA. (Link is provided below)
On this video, I am explaining how to use both LLV and HHV indicators combined with ATR to confirm trading signals.
HHV and LLV are very reliable in the trendy market, so it is wise to only use them when we have high ATR readings.
SuperTrail Indicator Video / Trailing Stop LossWas just playing around with the replay function in Trading View and thought I'd share this to show how the SuperTrail indicator worked on a couple of different stocks.
The SuperTrail is basically a modified SuperTrend but instead uses a percentage to allow you to manually set the trail level for individual stocks. Some need a wider trail, some a smaller one. You might set a trail based on the last months range, or the last 3 months. Totally up to you and the stock itself. The idea is to find what I call the natural range of a stock based on its past behaviour and hope that the stock maintains this range into the future. You can of course simply adjust it from time to time as the stock and the market goes through different behaviours (eg bull or bear), reacting to good or bad company news etc.
I use the percentage value that I come up with to set as my stop loss / trailing stop with my broker. This way if the stock drops below the trail value (which automatically moves up as the stock price moves up, but never down if the stock goes down), the stock will automatically sell and I will hopefully bank any profits. Works best of course with trending stocks. You could use the buy signal to go long and the sell signal to short. Main thing for me is I don't have to sit and watch the market and worry how my shares are going. If one is starting to go the wrong way, I automatically get out. Completely up to you how you use it. It is a very simple system :)
If you want to see more examples, just have a look at my profile, and if you would like access to the script, just message me and I'll send you the details.
DON'T FORGET TRON! THE ALTS COULD BE BACK!Important things could be happening in cryptosphere in the next few months. I think TRON (TRX) may be in a position to bounce north.
ALTCOINS could be back!
Of course it can always bounce south. Those who can't stand losses should not be doing trading.
Cable is bullishI'm showing why I think Cable - GBPUSD is bullish. There are opportunities for the north on 1D, 6H and 4H time frames. There are opportunities for a shorting on the 1H time frame and lower. It all depends on the size of an acceptable loss.
GBPAUD (4H) - key positionGBPAUD has retreated from a major breakout north down to a key ATR support level. This creates probability for the north. But caution - for every probability estimate in one direction there is a residual probability in the opposite direction.
