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Learn how to use a free tool on Trading View called the Higher High Lower Low strategy to map out market structure and make better trading decisions. By understanding market structure, you can add on to any trading strategy you use and position yourself on the right side of the market. This tool helps to easily map out market structure, and you can customize the inputs to fit your trading style. It’s not a complete system, but it can be a basis for someone looking to filter out the market on any time frame.
How to Use a Market Structure Tool to Improve Your Trading
Introduction: Understanding Market Structure
Market structure is an essential aspect of trading, regardless of the strategy you use. Understanding market structure allows you to identify where the market is going and what it is doing, so you can make better trading decisions. In this video, we introduce a tool that can help you easily map out market structure, so you can improve your trading.
Finding the Tool: Higher High Lower Low Strategy
We introduce a free tool called Higher High Lower Low Strategy, which can help you map out market structure on TradingView. With this tool, you can easily identify the higher highs and higher lows of the market, so you can build on your strategy from there. You can adjust the inputs to customize the tool to your preference and trading style.
Using the Tool: Mapping Market Structure
With Higher High Lower Low Strategy, you can easily identify the market structure on any timeframe, whether it is hourly or daily. By mapping out the higher highs and higher lows, you can determine if the market is pushing up or pushing down. This information can help you make better trading decisions, such as knowing when to buy or sell.
Adding Other Strategies to Market Structure
Once you have mapped out the market structure, you can bring in other trading strategies that you use, such as candlestick patterns, RSI, or MACD. By combining market structure with other strategies, you can make even more informed trading decisions.
Customizing the Tool to Your Trading Style
Higher High Lower Low Strategy can be customized to suit your preferences and trading style. By adjusting the inputs, such as the number of levels, you can create a tool that works best for you. Keeping things clean and simple is often preferred, but you can add more levels if you desire.
Conclusion: Using Market Structure to Improve Your Trading
Market structure is crucial to understanding the direction of the market and making better trading decisions. With Higher High Lower Low Strategy, you can easily map out market structure and add on other trading strategies to enhance your trades. Customizing the tool to your trading style can make it even more effective.
