Learn how to earn 25% profit in a single trade using tradingview.com. Use the extreme trend and heat map volume indicators for success.
How to Make 25% Profit on a Single Trade Using Tradingview.com
Tradingview.com: An Overview
Tradingview.com is an online platform that provides advanced technical analysis tools to traders, investors, and analysts. The platform offers real-time charting and analysis of financial markets, making it easy to monitor market trends and identify trading opportunities. In this article, we will discuss how to make 25% profit on a single trade using Tradingview.com.
Step 1: Open a Chart of Any Asset
The first step is to open a chart of any asset you want to trade on Tradingview.com. This can be a stock, a currency pair, or a cryptocurrency. Once you have selected your asset, you can click on the ‘Indicators’ tab located at the top of the chart to access the indicator library.
Step 2: Select the Extreme Trend Indicator
In the indicator library, search for the ‘Extreme Trend’ indicator developed by Joti Prasad. This indicator is designed to identify trends and momentum in the market, making it a useful tool for traders looking to enter or exit trades.
Step 3: Customize the Indicator Settings
Access the settings of the Extreme Trend indicator and customize the settings to suit your trading strategy. You may want to adjust the period and sensitivity of the indicator to match your preferred time frame and trading style.
Step 4: Add the Heat Map Volume Changes Indicator
After customizing your Extreme Trend settings, click on the ‘Indicators’ tab once again and search for the ‘Heat Map Volume Changes’ indicator. This indicator displays the volume of trades in a color-coded bar chart format, making it easy to identify changes in market sentiment.
Step 5: Confirm the Buy Signal
To make a Buy trade, wait for a green triangle to appear on the chart, indicating a bullish trend. Additionally, the price should be closed above the 200 EMA, and the heat map volume bar should be either orange or yellow. Once these conditions are met, you can place a Buy order at the close of the price bar.
Step 6: Exit a Winning Trade
To exit a winning trade, wait for a sell signal from the indicator app. This can be a red triangle or a change in the color of the heat map volume bar. Once you receive this signal, you can close your trade and realize your profit.
Step 7: Short Trades
For short trades, you will need to do the exact opposite of the Buy trade strategy. Wait for a red triangle to appear on the chart, indicating a bearish trend. The price should be closed below the 200 EMA, and the heat map volume bar should be either orange or yellow. Place a Sell order at the close of the price bar, and exit the trade once you receive a Buy signal from the indicator app.
Conclusion
Tradingview.com provides traders with advanced technical analysis tools that can help them identify profitable trading opportunities. By using the Extreme Trend and Heat Map Volume Changes indicators, traders can make 25% profit on a single trade. However, it is important to note that trading involves risks, and traders should always conduct thorough market analysis and risk management strategies before entering any trades.