Learn how to set up an unknown buy-sell indicator with a high win rate using JL ATR and J Lines Cloud on Trading View. The long position rule is to wait for the buy signal with a green cloud and price action above the yellow dotted line. The short position rule is to look for the sell signal with a red cloud and price action below the yellow dotted line. Stop losses and take profit levels can be placed according to individual risk tolerances. The video invites viewers to check out a premium buy-sell indicator called Lux Algo and the trader’s free Telegram channel for more trading strategies.

A Powerful Unknown Buy Sell Indicator: Boosting Your Trading Career

Introduction

Trading in the stock market involves making successful trades by understanding the market signals, indicators, and trends. Finding effective tools that can predict the market and change your trading career is crucial. In this article, we will explore a relatively unknown buy sell indicator that can efficiently help shape your trading outcome.

Setting up the Unknown Buy Sell Indicator

Before delving into the mechanics of trading, let’s first look at how to set up this indicator on TradingView. The standard operating time frame for this indicator is five minutes. The first two essential indicators to add are the JL-ATR and the Unusual Volume Highlights. The next indicator to add is the J Lines Cloud by the following person, which only 218 people have favoured. Once you have the indicators ready, let us configure them to fit the strategy.

Configuring the Unknown Buy Sell Indicator

Configuring the indicator involves changing some settings to customise it to the user’s strategy. For the JL-ATR, the multiplier should be configured from standard 4 to 4.7. Next, under Style, uncheck the Bar Color and ATR options. Now, move to the J Lines Cloud and simply uncheck background two. Your TradingView chart is now set up and ready to go.

Long Position Trading Strategy

The long position trading strategy with this indicator is a three-step process where the user waits for a buy signal, the cloud is green, and the price action above the yellow-dotted lines. Upon meeting these requirements, initiate the buy position. The next step involves setting a stop loss to protect the investment, which should not exceed one percent of the stock price. Finally, set a profit limit at the next level where the dotted lines are created. This will help maximise the risk to reward ratio.

Short Position Trading Strategy

For the short position this time, we recommend the sell signal, ribbons are red, and the price action below the dotted line. Initiate the sale position immediately after confirmation from the requirements. Then, set a stop loss of one percent of the stock price movement. Finally, set a profit limit at the next level where the dotted lines are created. This strategy generally has a higher risk to reward ratio, around one to 5.27. Therefore, it is essential to be cautious and only take trades at the right time.

Conclusion

The unknown buy sell indicator is an underutilised but powerful tool that can significantly help you in your trading career. When used correctly with the right strategy, it can help traders consistently make profitable trades. It is essential to keep in mind that the strategy and the use of this indicator is not financial advice but is for informational purposes only. Finally, when using this indicator, it is recommended to use a premium buy sell indicator like Lux Algo for a more robust and effective trading strategy.