My Trading Journey
Learn how to use two free trading view indicators to improve your trading strategy for crypto, Forex, stocks, and options. Use the EMA as a magnet and the stochastic to determine entry and exit points for long and short trades with a disciplined approach. Risk 100 to make up to 1345 dollars with a 3-4 to 1 risk-to-reward ratio. Also, learn how to set up alerts to get the biggest wins and how to stop loss take profits. This video is for informational purposes only.
Best Trading View Indicators and Scalping Trading Strategy
Introduction: Making Money with Trading View Indicators
The first thing that the narrator of the video emphasizes is that there are a lot of people who are making a fortune using trading view indicators and the simple scalping trading strategy that will be shown in the video. He shares an example of a trade that got a 1345 return in one hour and 45 minutes and points out the 13.45 risk-to-reward ratio, highlighting how the trader risked $100 to make $1,345. Additionally, he promises to demonstrate how to set up alerts to identify the best trade opportunities and avoid monitoring the charts all day.
Setting up Charts: Adding Indicators and Adjusting Settings
The narrator explains that the strategy can be applied to any asset that shows price action, such as crypto, forex, stocks, or options. He then proceeds to show how to set up the charts on Trading View for the strategy. The first indicator that he suggests adding is the moving average exponential (EMA), and he recommends using the five-period EMA, considering it as a magnet where the price action gravitates towards it. To make the EMA more visible, he increases its thickness.
The second indicator he recommends is the stochastic oscillator, which helps identify oversold and overbought conditions. He adjusts the smoothing from one to three to make it smoother and narrows the channel from 20 to 25 and from 80 to 75.
Long Trade Strategy: Rules and Examples
The narrator explains the rules for a long trade strategy, which involves the price action being below the five-period EMA and a positive crossover in the stochastic within the range of 25 and 75. He demonstrates a long trade example, showing when to enter a trade after the positive crossover and how to place stop-loss and take-profit orders. He cautions against entering a trade when the price action is touching the EMA and the stochastic is outside the channel.
Short Trade Strategy: Rules and Examples
The short trade strategy is the opposite of the long trade, where the price action is above and not touching the EMA, and a negative crossover in the stochastic within the 75 to 25 range. The narrator shows an example of a successful short trade and how to enter, exit, and set up stop-loss and take-profit orders. He emphasizes the importance of being disciplined and waiting for the right conditions before entering a trade.
Conclusion: Disclaimer and Call to Action
The narrator emphasizes that none of the strategies presented in the video is financial advice and are for informational purposes only. He concludes by asking the viewers to hit the like button and comment “boom” if they enjoyed the video, as it helps the channel. Overall, the video presents an easy-to-follow scalping trading strategy that can help traders identify profitable trade opportunities.
