The LuxAlgo Indicator That Predicts EXACT Price Points

this indicator shows us exactly where the price is most likely to move along with this the indicator also shows us the market sentiment allowing traders to see the very heartbeat of the price movement just by looking at the indicator it already reveals hidden patterns and Trends showing us a forecast of the market the indicator we are talking about is the Lux algo range sentiment profile a new indicator that was just released and has already received the editor's pick award in order to use the indicator let's first add it to the chart navigate to the indicator search Tab and search for the range sentiment profile select the indicator made by Lux algo and add it to the chart now head over to the indicator settings tab and click on the input tab the first setting we can change is the length value this refers to the bars used for the calculation of the indicator by increasing the value of the length setting we can expand the historical range and provide a broader perspective on Market sentiment this allows us to see the range sentiment profile for a longer term period next let's take a look at the rows setting which determines the number of range levels displayed on the chart by adjusting this value we can control how detailed or specific we want the indicator to be increasing the number of rows provides a more detailed sentiment profile showing subtle shifts and nuances in Market sentiment but reducing the number of rows offers a broader overview with fewer data points moving on there is the use interbar option a powerful feature that enables us to incorporate interbar data into the indicator calculation by enabling this option the price action within each bar will be analyzed this can be particularly beneficial in volatile or fast-moving markets where inter-bar data can provide valuable insights into immediate shifts in sentiment additionally we have the ability to adjust the time frame of the indicator through the time frame setting this empowers us to explore sentiment profiles across different time frames finally there are the style settings which can be changed in order to change the color and width of the indicators elements now that we know which settings are available for the indicator let's take a look at how we can read the indicator the first component of the indicator is the box fill this box will either have a blue or orange background color if the box is orange it indicates that there is a majority of bearish variations within each area of making it likely that the trend is bearish if the background of the box is blue it indicates that there is a majority of bullish variations within each area meaning that there is a high chance that the trend is bullish the second component of the indicator includes the minimum bearish bin and the maximum bullish bin which are represented by two lines these lines highlight the levels with the strongest bullish and bearish sentiment respectively the final component of the indicator are the levels also known as bins with percentages on the right hand side of the box the percentages in the indicator show the strength of price movement within each bin they represent how much each bin contributes to the total price variation calculated based on the close to open difference these percentages help gauge the importance of each bin in analyzing Market sentiment this might sound a bit complicated however reading the indicator is actually really simple here we can see that the background color of the box is blue indicating a bullish trend this visual cue aligns with our anticipation of a potential upward movement furthermore examining the price action we notice that the price has reached the maximum bullish bin this is an encouraging sign as it suggests a significant level of support at this particular price level based on these observations we decide to enter into the buy position taking advantage of the bullish sentiment to ensure effective risk management we will set our stop loss at the recent swing low this will help protect our position in case of any unfavorable price fluctuations as for the take profit Target we aim for a two times risk to reward ratio seeking to maximize potential gains while balancing it with the level of risk undertaken now let's see how the trade plays out in this case the background color of the box is orange indicating a bearish trend this visual cue aligns with our expectation of a potential downward movement in price analyzing the price action we notice that the price has moved towards the minimum bearish bin this indicates a high likelihood of bearish volume at this particular price level because of these signals let's enter into the cell position we will be placing the stop loss at the recent swing High for the take profit we will be targeting a two times risk to reward ratio now let's see how the trade plays out despite the indicator already working quite well the indicator isn't meant to be used on its own so let's add extra indicators to the chart head over to the indicator search Tab and search for the volume weighted moving average indicator select the indicator made by trading View and add it to the chart the next indicator we will be adding is the RSI search for the RSI indicator select the indicator made by tradingview and add it to the chart now let's change the indicator settings click on the volume weighted moving average settings and navigate to the input tab here we will be changing the length of the indicator to 200. next click on the style tab here we will be changing the color of the indicator to White NOW head over to the RSI indicator style settings we will be changing the color and thickness of the RSI line after that we will also be changing the color of the levels to make them easier to see that was all that we needed to do we will be combining the indicators using the following method first we will incorporate the volume weighted moving average this indicator calculates the average price of an asset taking into account the trading volume by using the vwma we can identify the long-term trend of the asset in addition to the vwma we will be using the range sentiment profile indicator to determine the short-term Trend and pinpoint the optimal entry point for the position finally we will be using the RSI indicator to confirm the entry now that we know how all of the indicators work and how we will be combining them let's take a look at some entry examples but before that I am currently hosting a buy bit trading competition with a prize pool of up to one thousand dollars where the first place gets five hundred dollars and the second place gets three hundred dollars and so on if you are interested in joining and earning click the link in the description to join here we can see that the price is in an uptrend if we take a look at the background of the Box we can see that it's blue also indicating that there is a majority of bullish variations the fact that the price is also in a longer term uptrend is confirmed by the vwma because we can see that the price is trading above it despite this we can see that the price made a bearish move here however if we look at the RSI indicator we can see that there is a bullish Divergence because of the price making lower lows while the RSI makes higher lows this indicates that there isn't much strength behind the bearish move finally we can see that the price is at the maximum bullish bin which means that it is likely for there to be a lot of bullish volume at this price level all of these signals indicate that it's a good idea to enter into a buy position so let's enter into a buy position here we will be placing the stop loss at the recent swing low for the take profit we will be targeting a price point just below the minimum bearish bin aiming for a risk to reward ratio of at least two now let's see how the trade plays out this time we see that the background of the range sentiment profile indicator box is orange indicating that there is a majority of bearish bins within the area we can also assume that a longer term downtrend is playing out due to the price trading below the vwma if we take a look at the price action we see that a small bullish move was made however after analyzing the RSI indicator we can see that a bearish Divergence formed right after the bullish move this is because the price made higher highs while the RSI made lower highs the bearish Divergence indicates that the small bullish move was weak along with this the price is at the minimum bearish bin making it likely that a lot of bearish volume is at this price level all of the signals indicate that it is a good idea to enter into the position so let's enter into the cell position we will be placing the stop loss at the recent swing High for the take profit we will be targeting at least a two times risk to reward ratio aiming for just above the maximum bullish ban now let's see how the trade plays out I hope you could see how this indicator can be read and used along with how you can integrate the indicator into your own strategies despite this indicator being free Lux allgo also offers a premium indicator package that includes indicators such as the smart Trail price action Concepts and buy and sell entries if you are interested in trying them out for free for 30 days then check out the link in the description if you enjoyed the video please leave a like And subscribe to the channel

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Keywords: high accurate buy sell indicator, high accurate indicator, buy sell indicator tradingview, money flow index, scalping strategy, trading strategy, trading, scalping, best tradingview indicator, tradingview best indicators, future predicting indicator, predict exact price, range sentiment profile, lux algo, lux algo range sentiment, know the future of the price

Id: jrDj5VBqrkI

Length: 9min 29sec (569 seconds)

Published: Thu Jun 01 2023