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Learn how to improve your trading performance with two powerful indicators that help avoid false entries in trading, suitable for Forex, cryptocurrency, and other markets. Adjust settings for Keltner Channel and Cycle Channel Oscillator to create a unique trading setup. Place buy or sell orders based on specific conditions and set stop loss and risk to reward ratios. Examples of trades provided. Subscribe for more trading strategies and tips.
Best Trading View Indicators: Avoid False Entries with the Magic Volume Indicators
Introduction: Empowering Traders to Achieve Profitability
Trading can be challenging and complex, which is why Secret Indicator Strategies is dedicated to providing traders with the tools and strategies they need to succeed. In today’s video, we’ll be discussing two powerful indicators that can help traders avoid false entries and improve their trading performance. Whether you’re a beginner or an experienced trader, these magic volume indicators are sure to help.
Building the Indicator Setup: Keltner Channel and Cycle Channel
Before diving into the strategy itself, we’ll need to build the indicator setup. We’ll be using the Keltner Channel and Cycle Channel indicators, which are available on TradingView. We’ll walk through the steps of configuring the indicators to fit our trading strategy.
Trading Setup: One Minute Time Frame
This strategy works well on the one-minute time frame, which is suitable for high liquidity markets such as Forex, cryptocurrency, and stocks. We’ll be using the Keltner Channel signals indicator, which will give us buy and sell signals.
Buy Signal Strategy: Crossing the Keltner Channel Bottom Level Upwards
When the Keltner Channel indicator gives us a buy signal, we’ll need to look for the market to cross the Keltner Channel bottom level upwards. Additionally, the Cycle Channel oscillator should be below the lower line (oversold), and the market should form a bullish candle to give confirmation. If these conditions are fulfilled, we’ll place a buy order with a stop loss at the low of the bottom level and a risk to reward ratio of 1 to 1.5.
Sell Signal Strategy: Crossing the Keltner Channel Top Level Downwards
When the Keltner Channel indicator gives us a sell signal, we’ll need to look for the market to cross the Keltner Channel top level downwards. Additionally, the Cycle Channel oscillator should be above the upper line (overbought), and the market should form a bearish candle to give confirmation. If these conditions are fulfilled, we’ll place a sell order with a stop loss at the high of the top level and a risk to reward ratio of 1 to 1.5.
Example Trades: Demonstrating the Strategy in Action
To demonstrate the effectiveness of this strategy, we’ll walk through some example trades. By following the signals given by the Keltner Channel and Cycle Channel indicators and adhering to our buy and sell signal strategies, we can see successful trades consistently playing out.
Conclusion: The Power of Magic Volume Indicators
In conclusion, the Keltner Channel and Cycle Channel indicators are powerful tools that can help traders avoid false entries and improve their trading performance. By following our buy and sell signal strategies, traders can see consistent profits while avoiding unnecessary risks. At Secret Indicator Strategies, our mission is to empower traders like you to achieve profitability in the markets. Don’t forget to like and subscribe for more great trading strategies and tips.
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