Learn a new indicator that could change your trading game. The BJ indicator helps to mark key zones in charts, and it is customizable. The strategy involves highlighting zones on the 15-minute chart and looking for support breaks or resistance breaks, then using a trend line breakout confirmation or waiting for a re-test to enter the trade. The strategy is demonstrated on the GJ chart. The video also introduces the macd indicator for swing confirmation.

A Game-Changing Indicator for Traders

Introduction

If you are a trader, you know how challenging it can be to find a reliable indicator that can help you make profitable trades consistently. In this article, we are going to introduce you to an indicator that will change the way you trade. It’s called BJ (yes, we know the name is funny), and it’s one of the best indicators we have come across. In this article, we’ll explain how to use this indicator, what settings to use, and how to make successful trades with it.

Adding BJ Indicator to Your Chart

To add the BJ indicator to your chart, you need to go to the indicators section and type in ‘BJ.’ Once you have added the indicator to your chart, you need to change one setting, which is to set the number of pivots to two, depending on the timeframe you’re using. We recommend using two pivots on the 15-minute timeframe because it shows the key levels without cluttering the chart.

Respecting Key Zones in the Chart

One of the best things about the BJ indicator is that it marks key zones in the chart accurately. As you scroll back and watch how the indicator respects the levels, you’ll realize that this is an amazing indicator. It also changes color when the market breaks through the levels, which makes it easy to recognize a support or resistance breakout.

Entering Trades with BJ Indicator

One common mistake traders make is entering trades randomly off levels without considering risk management. With the BJ indicator, you need to highlight the zones on the 15-minute timeframe and then drop to the 5-minute timeframe to confirm the trend. You can use the Moving Average Convergence Divergence (MACD) indicator to confirm the trend line and support and resistance breakouts.

For a buy, you should only enter a breakout that breaks a trendline pointing downwards or enters a trendline that is straight. For a sell, you should only enter a breakout that breaks a trendline that is trending upwards, or breaks a support that is underneath the price. After identifying the breakout, you can enter aggressively, wait for the candle to close past the breakout, or wait for a retest before entering the trade.

Conclusion

The BJ indicator is a game-changer for traders, and we highly recommend it. With this indicator and the right settings, you can find the perfect zones on the chart and make successful trades. Remember to always practice risk management and follow your trading plan when using any indicator.