Most Accurate Artificial Intelligence Indicator For Trading ( FULL TUTORIAL )

Traders were happy you liked our previous two videos about AI trading indicators so we started doing our research with a goal to find more trading view indicators that are AI based for the past two days we have been testing different options and finally found a truly unique artificial intelligence indicator that has the highest success ratio we're sure you'll like this one as well so how can we add this indicator to our chart well first open any chart on trading View and navigate to the indicators section type AI engulfing candle the script you're looking for is this one right here as you can see this is a new indicator and not a lot of people know about it yet once you've applied it the chart should look like this the AI engulfing candle is a trading indicator designed to find bearish and bullish engulfing price patterns if you're not familiar with this type of pattern don't worry we will explain it in a second the engulfing bar is the easiest of all chart patterns to identify and as such if all engulfing bar characteristics are met the trade will be successful whether it is a reversal pattern or a continuation pattern the engulfing bar is one of Trader's favorite Candlestick patterns because it gives a reliable signal and it is very easy to identify this is a key feature of successful Trading as it only needs two candlesticks to form what is called the engulfing bars pattern it is the most easily identifiable pattern of all chart patterns the engulfing bar is a reversal pattern or signal and is formed when the latest candle completely engulfs the candle to its left depending on the last candle there are two types of engulfing price bars bullish and bearish so how is this indicator any special you might ask and why do we need it in the first place well let's run a quick experiment for this experiment we will add a regular engulfing Candlestick indicator to the chart right away we noticed that the signals given by these two indicators are different we can see that a regular engulfing Candlestick indicator detects every single engulfing pattern it finds this can often result in confusion and a lot of false entries alternatively our ai-based indicator is more accurate and almost never gives signals in a ranging Market this fact alone can take your trade entries to the next level imagine you only took high probability trades that have an 80 or even 90 percent success rate even with a risk to reward ratio of one to one you would make a ton of money but what's the secret behind this AI indicator you might ask well the nature behind it isn't as complicated as you might think the reason the signals given by this indicator are so much accurate is that they are filtered by the relative strength index the logic is simple a bullish engulfing price bar is displayed only if it occurs when the RSI is oversold hence a bearish engulfing candle is shown only if it happens to be in place when the RSI is overbought however since the indicator is AI based it learns from its previous performance and attempts to improve the quality of the signals even though this script can be really accurate at times we shouldn't always blindly follow its signals that's why we need to add some extra confirmations before we can consider these signals as valid for that access the indicators again and search for fluid trades SMC by pngif the next step is to open its settings and hide everything except support and resistance levels the fluid trades SMC indicator plots key levels on the chart by showing the areas of supply and demand when the price reaches these levels there is a high probability of a reversal occurring in combination with our smart engulfing Candlestick indicator we can identify when Market participants show the most interest in buying and selling the stock before buying we should ensure that the price has been rejected by the level of support remember the candle bar must not close below the blue line once we have that wait for the AI indicator to give a Buy Signal open a by position at the close of the price bar and Target two times the risk stop losses should be placed below the support area but just the stop loss to break even once you've made half the profit Traders if you're enjoying the content be sure to leave a like for this video also subscribe to our fast growing Community for more videos like this in the future as you can see Traders the rules are very easy to follow let's take a look at one more by example here the market respected the major level of support after that the indicator found a bullish engulfing pattern all conditions are met for placing in order to buy [Music] for cell entries the price must first retest the resistance level this is where the majority of Traders take their profits which results in a drop in price the indicator finds a bearish engulfing Candlestick pattern we follow the rules and enter a sell trade we place the stop loss above the level of resistance and Target two times the risk Traders remember not to risk more than five percent of your account per position risk management is everything when it comes to success in trading you can have the most accurate entry signals in the world but if your risk management is poor you will lose money long term never exit a trade too early you might feel excited about the profit you're making on a trade but this doesn't matter since the price hasn't hit your take profit Target yet any profit that isn't realized yet isn't a win be patient and let the strategy do what it is supposed to do that is the only way to make it in this business also be sure to back test every strategy before trading live Trader Edge can help you with that this is currently the most efficient back testing app out there it gives you all the information you need about your strategy such as the win ratio profit and loss profit factor and maximum drawdown if you don't know how to properly back test a strategy Trader Edge will provide you with a free step-by-step back testing course you will also get a free course about how to create highly profitable trading strategies yourself its current value is two hundred dollars you will also get access to some of the best indicators and strategies that have been proven to work the indicators are available for mt4 platform as well some of them have a win ratio of over 75 percent which is truly amazing Trader Edge has a free trial so you have nothing to lose do not hesitate to make such an investment in your trading skills we guarantee it will pay off in the future check it out the link will be in the description of this video

Channel: Magic Indicator Strategies

Views: 72,004

Keywords: best indicator for scalping, tradingview indicators, scalping trading strategy, forex trading strategy, algo trading, tradingview, technical analysis, best tradingview indicator, best tradingview indicator for scalping, price action, scalping strategy, scalping forex, 5 minute scalping strategy, tradeiq, tradingview tutorial, chatgpt, ai trading, artificial intelligence

Id: _vfSWEw8eJc

Length: 8min 1sec (481 seconds)

Published: Fri Feb 10 2023