A trading strategy was tested with 100 trades and yielded a $500 profit, using the Market Structure Break indicator on TradingView with specific settings. Resistance levels and profit targets were implemented.

Testing Trading Strategies: My Experience and Findings

Trading is a tricky game, with profits and losses coming in equal measure. But the one thing that can tilt the scales in your favor is a solid trading strategy. A good trading strategy will not only help you minimize your risks but also increase your chances of making profitable trades.

Recently, I tried testing a trading strategy that I had come across on tradingview.com. I put it to the test by using it for 100 different trades, and the results were extraordinary. In this article, I will be sharing my experience and findings of using this trading strategy.

Step 1: Accessing tradingview.com and Adding the Market Structure Break Indicator

The first step in using this trading strategy is to go to tradingview.com and click on the indicators tab. Then, add the Market Structure Break indicator by selecting the one by mrep.

Step 2: Changing the Settings of the Indicator

Next, we go to the settings menu and change the option to 0.237. Once this is done, make sure the indicator shows the zigzag.

Step 3: Understanding the Trading Strategy

The strategy is simple, and it involves two scenarios:

1. For a sell position: When the price pulls back from the Red Zone and creates a negative candle, make sure to check the previous market’s resistance level. This is the time to sell.

2. For a long position: Just do the exact opposite of the sell position scenario.

Step 4: Setting the Stop Loss and Profit Book Targets

To minimize your risks, make sure to set a stop loss above the Red Zone. For profit-taking, set the target to one to five times for a long position, and the exact opposite for a sell position.

My Experience of Testing the Trading Strategy

I have been trading for a few years now, and I have tried several trading strategies. However, until recently, I had never come across a trading strategy that offered me consistent profits. This all changed when I stumbled upon the Market Structure Break indicator on tradingview.com.

Initially, I was skeptical of this indicator, and I decided to test it for myself over the course of 100 trades. The results were beyond my expectations. Using this trading strategy, I managed to generate a profit of 500.

What impressed me about this strategy was its simplicity. Most trading strategies are complicated and difficult to follow, but this strategy was straightforward and easy to implement. All I had to do was pay attention to the Red Zone and the previous market’s resistance level, and I was good to go.

Furthermore, by setting a stop loss and profit book targets, I was able to minimize my risks and maximize my chances of making profitable trades. This simple trading strategy had transformed my trading, and I was excited about its potential going forward.

Conclusion

In conclusion, testing trading strategies is essential to success in trading. It is one thing to come across a trading strategy on the internet, but putting it to the test is a whole different ball game. By taking the time to test trading strategies, you can find one that works for you and can transform your trading altogether.

The Market Structure Break indicator on tradingview.com is a great starting point for traders looking for a simple yet effective trading strategy. Its simplicity and effectiveness, as evidenced by my own experience, make it a great tool for traders looking to minimize their risks and increase their profits.