FREE Best Tradingview Indicator for 2023 [Best Buy Sell Indicator Tradingview]

if this Buy sell indicator on trading doesn't blow your mind I really don't know what will it's really is one of the best trading view indicators out there and not only is it super accurate you can also set up alerts easily so you're not watching the charts all day long so make sure you do watch this video at the end because as a bonus at the end I'll show you the steps to set up alerts on this best trading view indicator let's get into it again nothing in this video is financial advice it's all for informational purposes only and for this we're going to use the five minute chart on Apple and throughout the video I will also show you examples on crypto on Forex on stocks like this thing it works on multiple time frames and it works on multiple different assets okay whatever you guys like to trade this this stuff I think we'll uh we'll impress you so keep watching till the end all right so this is what the charts are going to look like once you have it all set up I'll show you the free indicators that we're going to be using on trading view along with the settings that I'm gonna be changing so let's X Out this is what your chart is going to look like once you first get into trading view the first indicator we're gonna add is called the linear regression candles all right linear regression and other channels the candles all right this one right here by ugu all right let's go ahead and add that we're gonna make some changes so what this does is it Smooths the price action okay so as you can see if I took this away this is what the regular candles look like and this is what the chart looks like with the regression candles linear regression candles pretty neat right so now let's go and change the settings on this so we're going to go here into settings on this COG click on input we're going to change the signal smoothing we're going to change it from from 11 we're going to move it down to seven okay so seven and then we're gonna go into Style and I'm gonna make this line a little bit thicker so it's it's easier to see so I'm gonna put it right here so it's nice and nice and bright and if you're using you know if your background is white the white line isn't going to show so you can change the color to something else if you guys like all right so that is it on that particular indicator so click OK the second indicator we're going to be adding is the UT bot alerts not the UT bot not the strategy this right here the UT bot alerts by Quant nomad click on that get that added and we're going to make some changes to this as well click on settings and then input we're going to change the key value to 2. and we're going to make the ATR period one Okay click ok your chart's almost set and because like you know the the different candles it can get mixed up it's it's a little hard to see so what we're going to do is we're just gonna the main candles we're just gonna hide those so all we see is a linear regression candles and the utbot alerts cool so now what exactly is the strategy let's get into that real quick so for the long strategy um super simple this is one of the simplest trading strategies that that's out there and that's why I feel like it's so effective because it works well for beginners intermediate and advanced Traders so on this particular one you want to make sure you get a Buy Signal number one but we're only going to take trades after the price action or well not with the price action but when the regression candles are above the line the plotted line okay so for instance on something like this you get in this is where the candles above so we would get into the trade right here you can do a stop loss at let's see right get in get into the trade right here your stop loss we can make the recent swing low and for this you know what I what I what I've seen work pretty well is to basically take trades until you get like a red candle because that's when the big dip is coming so even if you were to take this up to here this would have been a 16 to 1 risk to reward ratio insane right like for instance over here if you were to do this above get in and wait till you get like a red candle right there that's that's a two to one risk to reward right so it's got it uh it tends to work pretty well so that's that's the long strategy right it's super simple you wait until the until the candle is above here and you have a Buy Signal to go long and for the sell signal again the exact opposite right is you wait for the price action to be below the line and you get a sell signal so you get a sell signal right here recent swing high on that and when you get a green right here that's a one to one point one six six risks to reward okay like right here if if you were to get into that trade short position you get a sell signal here but the price action like this line the regression line isn't below the line yet so when you wait for that line to close if that's where you got in recent swing high for the stop loss green candle comes in right there that's a one to one point seven risk to reward ratio right there so it's it's pretty effective and then here's the other thing right one of the questions that always comes up is does this work on different time frames or is this only for the five minute time frame so for scalping five minute time frames are great right but if you wanted to do longer time frames like for instance if we do the 15 minute right you can you can see still still pretty valid right still pretty valid if you if you look at the different things it's it's a little bit you know some of the swings are going to be a little bit stronger smaller and you might get some stop losses right there right but overall pretty pretty cool on the 15 minute if you wanted to do one hour let's look at the one hour on Apple right still not bad still not bad and then even if you wanted to do like the four hour right for a lot of the Swing Trading as as long as yeah see you get a sell signal but the price that I like the linear regression candles they're not below the plotted line so we're not really taken that but we're gonna take stuff like this here's a good example of a cell trade this wouldn't work this would not be a valid trade this would be a valid trade with the sell signal so you see even on the even on the longer time frames it's actually pretty cool so let's go back to the five minute and I'll show you guys some other examples before we get into looking at setting up alerts for this thing but hey if you guys are enjoying this video so far just take a moment now please hit that like button and click boom in the comments below because I know this video is awesome all right type boom and if you haven't subscribed to my channel already make sure you hit that subscribe button and click the Bell so you don't miss out on any of my future videos with more strategies like these all right I try to bring you guys a ton of value so now let's take a look at uh for instance let's let's look at crypto right because that's another question that keeps coming up does this work with crypto so let's look at Bitcoin so this is the live version well this is where the live market is at right now so if you get a sell signal you're not going to get in crosses over to the line not bad not bad so um right here let's look at a longer time frame with Bitcoin because man the volatility sometimes is insane let's look at the 15 minute yeah still not bad it's making some it's making some uh good calls right good it's it's giving out some good alerts on the 15 minutes let's look at the hour again seems to be seems to be fairly solid it's a lot of choppiness right here because you know Bitcoin is going to be Bitcoin um so yeah sell buy sell by cell wouldn't take this trade because it's below never really got a chance to get above cell so you see how that works with crypto and then again for all those Forex people out there uh let's look at some of the low spread GBP USD for instance yeah pretty solid like of course like just with any other trading strategy there are going to be some losses no no uh indicator strategies a hundred percent accurate but as long as you win more than you lose and your wins are big it's all about consistency right so now if you wanted to set up alerts on this right let's get let's get into that real quick and then if you haven't yet make sure you like this video and type boom all right so to set alerts super easy we're gonna set alerts actually on the utbot alerts okay we're not gonna do it on the linear regression candles we're going to do it on the utbot alerts we're going to click on these three dots and we're going to click on ADD alert on utbot alerts this will come up make sure you are in whatever it is that you like to trade right so for instance this is the GBP USD one hour right here condition UT bot alerts long you're here so for this you're going to have to create two alerts okay one for the Buy Signal one for the sell signal so the First Alert you can set is UT long once per bar close okay not just only once not that once per bar closed so this way when that bar closes with the Buy Signal you're gonna get alert you'll get alerted right there okay and then you're gonna click create once that's done you're gonna come back up here again and now instead of UT long you're going to do UT short once per bar close and create again so this way anytime a bar closes with a sell signal or a Buy Signal you'll get alerted and then you can look at everything else and kind of make your decision of what you want to do so it is super simple to set up the alerts on this particular strategy as well all right so the indicators in this video are completely free to use on trading view but if you're looking for an amazing premium indicator I personally use Lux algo premium for all of my trading and I recommend it to anyone who wants more success in the markets over 35 000 Traders use lexilego all right so they know what they're doing I've got a link to it in the description below so make sure you check it out and if you want to see the trades that I'm personally making in my account like this trade I recently posted I got a 63 return in one day check out my free telegram Channel and join my all access patreon links to those are in the description below as well now check out this next video where I show you another awesome scalping trading strategy and again do not forget to subscribe to my channel and hit the bell for notifications because there's more of this content coming up I'll see you on the next one

Channel: My Trading Journey

Views: 520,484

Keywords: best tradingview indicator, best tradingview indicator for scalping, scalping trading, scalping, scalping trading strategy, scalping crypto strategy, best indicator for scalping, best 5 minute scalping strategy, forex scalping strategy, crypto scalping strategy, buy sell signal indicator, best buy sell indicator on tradingview, buy sell signal indicator tradingview, forex buy sell indicator, crypto buy sell indicator, best tradingview indicators, tradingview best indicators

Id: 0ZzLlA9NFxo

Length: 12min 34sec (754 seconds)

Published: Fri Dec 02 2022