NEW Scalping Trading Strategy to GET RICH in 2023 [Tradingview Best Indicators]

and I am so excited to show you some of the best trading view indicators that will help you make a lot of money in the next few years A lot of people are getting rich using these trading view indicators and this simple scalping trading strategy I'll show you in this video like this particular trade right here it got a 1345 return in one hour 45 minutes you see this 1 to 13.45 Rister award ratio for this entry and exit all right so yeah risk 100 to make a thousand one thousand three hundred forty five dollars yes please make sure you watch this whole video till the end because somewhere in this video I'll show you also how to set up alerts to get the biggest wins with this scalping trading strategy so you get alerted with the good trade opportunities that come up and you don't have to watch the charts all day long again nothing in this video is financial advice it's all for informational purposes only let's get into this I'm going to show you guys how to set up the charts exactly what settings to change and all of this stuff and where to put your stop loss uh take profits all of those things so uh this is what your chart is going to look like let's exit out and let's actually since this is a short position I'm going to show you guys some short examples but first I want to show you guys some the long strategy and some long examples so let's get into it all right so this is what your chart is going to look like when you first log into trading View and you can use both of these free indicators on trading view with a free trading view accounts all right so here's what your chart is going to look like we're going to add two indicators and again I'm I'm using this um to show you guys examples I'm using like I'm using GBP USD um as a Forex combo but you can use this on crypto Forex stocks options anything that you guys like that has price action all right so the first indicator that we're going to add is just the regular EMA the moving average exponential the exponential moving average okay so let's make some changes to that we're going to come here go into settings we're gonna do actually I'm going to make this a little bit thicker first it's easier to see go into inputs and for length you're going to use five we're going to use the five period EMA the exponential moving average the second indicator that we're going to use that's free so click here on indicator again is just the stochastic simple old stochastic okay and we're going to make some changes over here as well so let's go into the settings for the stochastic uh right here for the smoothing instead of one we're gonna make this three okay so it gets a little smoother and for style what we're going to do over here is you see how this channel when whenever you you know add the stochastic on here the channel is between 20 to 80. for this what we're going to do is we're going to change it from 20 to 25 and we're going to change 80 to 75. so our channel is going to be just a little bit narrower for the strategy Okay so 25.75 and then over here smoothing three click ok your chart set up now what are the rules for this particular strategy so what you're wanting to do is we're going to treat the five period EMA kind of like a magnet all right so think about it as a magnet where the price goes away from it it gets attracted back towards it and it just follows along and it goes back and attracts it the price action towards the EMA so a little bit you know so that makes it a little bit easier to understand is use the EMA kind of as a magnet so what the first step you want is for instance for for long trades right so we're going to go over the long trade strategy first and then I'll show you guys a short trade strategy so on a long you want the price action to be below the five period EMA so it's kind of away from it right and then what you're looking for is a positive crossover in the stochastic okay so away away right over here away away right here and then you see a positive crossover when the blue crosses above the orange that's a positive crossover for a long position okay and you want the stochastic to be within the range of that 25 to 75 you don't want it to be outside right like over here you had a positive crossover right here but you see how it just like just just came back down and stuff so you want you want the channel the the stochastic to be inside that channel and then for instance you take a long position right here when there's a crossover that's happened right you get in and you wait until the price action for the crop and the crossover gets above the high of the previous candle so you'd get in right there your stop loss would be the recent swing low and then you would ride the price action into profit until there's another another crossover like for instance there's one right here but it didn't really cross over it crossed over right here where the blue crossed below the orange you're getting in when the blue crosses above the orange and getting out when the blue crosses below the orange okay so for instance right here is where the crossover happens so for instance that trade would have been a three almost a three and a half to one risk reward ratio right you know risking a hundred dollars to win 348 that's that's pretty awesome so so you know simple rules but you have you have to be super super disciplined for some of this stuff right like for instance uh let's see yeah over here there's a crossover price action right it's below the the 5 EMA so you'd be like okay when there's a crossover you get in but when it crosses over right here the stochastic is still outside of this range so you're not gonna get it and then you see what happens right if we look over here right this doesn't this doesn't qualify because the price the price is still touching the 5 EMA you want the candle to completely not a single piece of that candle needs to be touching the 5 EMA because it will be close Okay so there's a there's a long example now let's go over how to use the strategy to short the market to make a profit but before we get into that please take a moment and hit that like button and type boom in the comments below if you guys are enjoying this video it really helps out the channel and I like to read all the booms in the comments all right now let's take a look at a short trade example all right so here's here's a great short example right and this is this is from the beginning of this video right that we saw that uh 1345 return thing to 13.45 to 1 risk to reward ratio so the strategy for the short trades is the exact opposite of the long you want the price action to be above and the candle not touching the 5 EMA right and then you want there to be a crossover that happens which happens right here so the crossover is going to be opposite too right to get in the blue needs to cross below the orange and to get out the blue needs to cross above the Orange Line in the stochastic so when that happens the pro and the stochastic is in the channel right 75 to 25 The Crossover happens in the channel get in and then get out right of this trade so you you enjoy that swing all the way down I'll show you guys another example too so so let's look at another example so here's another example of a short trade all right so you've got the five EMA everything is like very close and touching and all of this stuff this one doesn't touch but this wouldn't qualify anyway because the price action is below this isn't working out so you've got price that's above the line above the three the five EMA another one crossover happens right here so you'd get into this trade below the last candle because you'd see the crossover happening right here this is the last candle you you'd get in after it makes a new low right so let's uh do this short position that you got in right there your stop loss would be the recent swing High and then you'd wait until the crossover again to be able to get out so you'd get out all the way over here at that candle and again that's right there almost a two to one risk to reward ratio right almost a 200 return it's 191 percent return so you see how powerful this thing can be the main key is to be patient right and again to be patient you need to find the right spots and you can be looking at charts all day depending on how many currency pairs you guys trade or what you know crypto you guys are trading how many stocks you're trading all of this stuff right because you can use the strategy on on basically everything but now to set up the alerts right uh I'll show you guys how to set up the alerts but before we get into that just take a moment hit that hit that like button if you haven't already type boom all right it really helps out the channel and also subscribe subscribe to the channel and hit the Bell so you don't miss out on more winning trading strategies that are going to help you become a more profitable Trader I put out these videos weekly so make sure you subscribe and hit that uh Bell alright so you don't miss out on any future videos so now how do we set up alerts we're not going to set up the alert with the EMA we're going to set up an alert with the stochastic that's where the biggest opportunities are is when things go outside and come back in all right when things go outside the channel and come back in the channel okay that's where the bigger wins are you're going to find Opportunities where just things happen like within but usually when there's a when there's a bigger trade it's going to be coming from out of the channel and going into the channel and continuing so for that we're going to go into the stochastic indicator right here click on the three dots click on ADD alert on stochastic and here's how we're going to set this up in conditions instead of Crossing new entering Channel okay when we do entering Channel we're going to change the upper bound and lower bound no the channel will not be at 60 okay 60.62 I don't know why it said at that okay the channel the upper bound will be 75. okay and you see that right and the lower bound will be 25. cool so now you see how it made this a channel right those lines went away and it put the dotted lines around the channel so that's gonna be you're gonna get alerted here and from trigger once per bar close so whenever a bar closes where the stochastic enters the channel you're going to get an alert from Trading view for free it's pretty awesome right okay click create and you've got your alerts set up simple as that all right and these indicators that I used in this video are completely free to use but if you're looking for an amazing premium indicator I personally use Lux algo premium for my trading and I highly recommend it to anyone who wants to more success in the market over 35 000 Traders use the Lux algo 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 actually making my exact trades that I'm making personally like this trade that I posted I got a 56 return check out my free telegram Channel and join my all access patreon links to those are in the description below as well hope you guys enjoyed this video click like comment below hit that subscribe button and now check out this next video where I show you another awesome trading strategy using some of the best trading view indicators out there I'll see you on the next one

Channel: My Trading Journey

Views: 55,790

Keywords: best tradingview indicator, best tradingview indicator for scalping, best tradingview strategy, best tradingview buy sell indicator, scalping trading, scalping, scalping trading strategy, scalping strategy, scalping crypto strategy, trading strategy for beginners, high win rate trading strategy, best scalping strategy, simple trading strategy, best scalping trading strategy, profitable scalping strategy, profitable trading strategy, best indicator for scalping, tradingview

Id: K1Q8lcjRfh8

Length: 13min 39sec (819 seconds)

Published: Fri Dec 09 2022