This video shares a day trading strategy using two lesser-known indicators with specific settings. It works for forex, crypto, stocks, and options with examples on a 15-minute timeframe. The strategy requires specific criteria to be met, such as the price being above or below the x-trend line, and specific colors for the QQE histogram and Kanashii candle. Stop loss is set below the latest swing low, and profits are taken when the QQE histogram shows a red or green bar. There are examples shown for both short and long positions. The video is for informational purposes only and is not financial advice.

The Best Trading View Indicators for Day Trading: A Comprehensive Guide

Introduction

Day trading is a rewarding but challenging adventure. To be a successful day trader, you need the best tools in your arsenal, including the best trading view indicators. In this video, we will introduce you to the best indicators for day trading and help you beat the market with an impressive win rate. Of course, we will provide examples to support our claims. So, without further ado, let’s get started.

Getting Started

First, you’ll need to visit the tradingview.com website. You can use it for free, and it’s fantastic. We will use the 15-minute time frame with high Kanashii candles. Once you’ve got your time frame set up, click on the indicator and add the QQE (q-factor exponent) threshold. This indicator surpasses the famous QQE mod that many traders use. The indicator is by jose5770, with a low download number, which means that it’s not well-known.

QQE Threshold Settings

To make the QQE threshold suitable for day trading, change the RSI length from 14 to 3. Go to settings and uncheck the bar color and the two plots. Additionally, uncheck the levels and the H lines background. The goal is to remove what you don’t need so you can see the important indicators clearly.

Extreme Trend Indicator

The second indicator that we will use is the Extreme Trend indicator. It is by gyoti, with low popularity as well. In the settings section, toggle off the shapes and change the blue lines to green and the yellow lines to red. These changes will go well with our trading strategy.

Trading Strategy

We can use this trading strategy for forex, crypto, stocks, options, and indices. In this video, we will use the Euro JPY because it’s great for day trading.

Long Position Strategy

Step one: The price has to be above the x-trend line.

Step two: The QQE histogram needs to have a green bar.

Step three: The high Kanashii candle color needs to be green.

If all three criteria are met, this candle will be your trigger to enter the trade. The stop-loss goes below the latest swing low, and the take profit is when the QQE histogram flashes a red bar.

Short Position Strategy

Step one: The price has to be below the x-trend line.

Step two: The QQE histogram needs to have a red bar.

Step three: The high Kanashii candle color needs to be red.

If all three criteria are met, this candle will be your trigger to enter the trade. The stop-loss goes above the recent swing high, and the take profit is when the QQE histogram flashes a green bar.

Examples

Let’s take a look at some examples. Here is a perfect short position example:

Price is below the X-trend line, Red bars on the QQE histogram, and Red high Kanashii candle.

Here is a perfect long position example:

Price is above the X-trend line, Green bars on the QQE histogram, and Green high Kanashii candle.

Conclusion

Use the best trading view indicators to beat the market and generate impressive wins in your day trading career. QQE threshold and the Extreme Trend indicators are two of the most efficient indicators that many traders are unaware of. Use them correctly, and you’ll be surprised how effective they can be. Again, this video is for informational purposes only, and nothing in this video is financial advice. Keep learning and keep growing as a day trader. Good luck!