Review: "This TradingView Indicator Predicts The EXACT Future"

trading is all about predicting the future of the price of an asset and most of the time that is easier said than done but what if there was an indicator that does exactly that Well turns out there actually is an indicator that predicts the exact future of the price of an asset and it's pretty damn good at it too this video is a review of a trading strategy originally created by switch stats that utilizes this future predicting indicator I will also backtest that particular strategy 150 times just to see how it performs over a long time period switch stats hope you don't mind me using this if you do just let me know let's get into it now you may be asking yourself but what is this future predicting indicator anyway and is it a premium indicator or is it free well ladies and gentlemen welcome the echo forecast indicator this indicator was created by Lux algo in October of 2021 and its main purpose as you can see is to plot out the exact path to be followed by the price of an asset now switch stats the original creator of this strategy used it on the one minute chart of Bitcoin against tether so we're gonna do the same now to add the indicator you're gonna click on indicators and type here Echo forecast and select this one by Lux algo the default settings for this indicator will work perfectly so we're not going to change anything I'll not go over the math behind the workings of this indicator because that's not gonna make you money but here is a simplified version of how the indicator works you see this orange rectangle here this is called the reference window this green one in between the gray area is called the forecast window and these gray rectangles are called the evaluation window together with the forecast window they make up what they call Total evaluation window so the basic idea is that price history tends to repeat itself if you look closely at this prediction graph you'll notice that it's basically a mirror or an echo of this price segment I'm gonna activate the line graph just so you can see it better see it's an echo of the past hence the name I guess so how they basically arrive at this is by taking this price segment in the orange Zone and then they search for a price segment that's similar to it within this total evaluation window so like here they searched for this all over here and they found this now it doesn't have to be a perfect match just a bit similar but the higher the similarity between the two the more accurate the prediction is going to be now once they find it they mark it with a green rectangle and then they plot out a price prediction that's closely similar to it so the idea is this history is gonna repeat itself probably now to trade using this indicator is really simple it's probably one of the easiest indicators to use on a planet when a prediction is like this you take a long trade but when the prediction is like this you you take a short trade also known as short selling that is correct War Jack switch stats didn't use this indicator by itself because just like any other indicator it produces false signals the second indicator they added is a trend confirmation indicator called SSL hybrid this one by mecco and a third indicator is called volume oscillator this one by trading View now let's change the settings for SSL hybrid you're gonna click here and on the inputs tab change the Baseline type to Mark gently and then change the Baseline length to 200. then on this tile tab we will be unchecking everything except for the AMA Baseline and the bar color and then click ok now for the volume oscillator click here and on a style tab change the plot color to Yellow and the zero line color to white and then click ok so this SSL hybrid indicator will be our Trend confirmation indicator when it colors the candles blue that would mean that the market is in a bullish Trend and we will be looking to take only long trades but when it colors the candles red that would mean that the market is in a bearish trend and we will be looking to only take short trades the volume oscillator will be used to determine if there is enough volume in the market to push the price in the direction of our trades when it's above the zero line it basically means that the market has enough volume so we will be looking to take trades but when it's below the zero line that would mean that the market doesn't have enough volume and we definitely shouldn't be taking trains and then of course the echo forecast indicator will be our entry confirmation indicator you'll see what I mean with an example for a long trade first the price candles should be colored blue to indicate that the Market is in a bullish Trend second the price should be touching the top of this reference window if that's the case this prediction line should extend beyond your take profit level without touching your stop-loss level for example if this is your stop loss level and this is your take profit level this line shouldn't touch this level but it definitely should go beyond this level the third condition is that this volume oscillator should be above the zero line to indicate that there is enough volume in the market to push the price in a direction of our trade all conditions are met on this candle so we're gonna enter a long trade we're gonna set our stop loss either right below the previous candle or below the most recent swing low whichever of the two that is higher for the tech profit we're going to set it at 1.5 times the risk I like to set mine at two times the risk but this is what switch stats used for their showcase so we're gonna do the same we let the trade run and it hits take profit now to enter a short trade you basically just have to do the opposite of everything we did for the long trade here's what I mean first the price candles should be colored red to indicate that the market is in a bearish trend second the price should be touching the bottom of this reference window if that's the case this prediction line should extend beyond your take profit level without touching your stop-loss level so if this is your stop loss level and this is your take profit level this line shouldn't touch this level but it definitely should go beyond this level the third condition is that the volume oscillator should be above the zero line to indicate that the market has enough volume to push the price in the direction of your trade all these conditions are made on this candle so we're gonna enter a short trade we're gonna set our stop loss either right above the previous candle or above the most recent swing High whichever of the two that is lower for the take profit we're gonna set it at 1.5 times the risk we let the trade run and it turns out profitable and that's basically how the strategy works now I'm gonna back test it 150 times using a risk to reward ratio of 1 to 1.5 the account size is going to be set at a thousand dollars and we're gonna be risking two percent of that every time we take a trade let's get started foreign [Music] foreign is done and we have the results but before we share it with you guys if you found value in this video take a second and hit that like button below because by doing that you're really motivating us to keep creating this free and value-packed videos for you guys so please do that now after 150 trades this strategy had a win rate of 64 and again on the account was 473 percent these numbers are decent we see that it had a profit factor of 2.67 five consecutive wins against five consecutive losses and a maximum drawdown of just under six percent also it took me just over seven weeks to find these 150 trades remember this is just a black test of 150 trades and this performance is in financial advice do your own due diligence before trading with your real money now I wonder would you use this indicator to trade or would you rather stick to the usual Buy sell indicators let us know in the comment section below that's been it for this video hope you found some value if you did hit that like button below and consider subscribing to stay tuned thanks for watching and I'll see you guys next time [Music]

Channel: PineTrades

Views: 224,681

Keywords: tradingview best indicators, best tradingview indicator, predict the future indicator, echo forecast indicator, predict exact future, tradingview indicators best, day trading, forex trading, forex strategy, day trading strategy, tradingview, scalping strategy, trading, crypto trading strategy, high win rate crypto strategy, best scalping strategy, no nonsense forex, 100% winning trading strategy, best crypto strategy, best forex strategy, forex trading strategies

Id: qPiMkpRvins

Length: 9min 20sec (560 seconds)

Published: Fri Jan 27 2023