This NEW TradingView Indicator Is Better Than PREMIUM |  Best Indicator For Scalping on 5min Chart

hey everyone welcome back to our channel in this video I'm going to share with you a mind-blowing scalping strategy that I just recently found and it's a secret indicator that not many people know about and it's pretty cool so in this video I'll be revealing this strategy and showing you how to set it up trust me it's perfect for 5 minute scalping and it's incredibly accurate and I'll also show you guys how to filter out some of the false signals so stay tuned Until the End okay so let's get straight into it it is important to note that this trading strategy can be applied to various markets including crypto currencies stocks Futures and major Forks pairs the best time frames to use are 5 minutes and 15 minutes although the strategy can also be effective on longer time frames such as 1 hour and 4 hours currently I am viewing the Euro USD chart in the 5 minute time frame the trading method I'm about to show you consists of two free indicators all right let's first add the indicator to the chart to add indicators simply click on the indicator menu located at the top then in the search menu type the name of the first indicator which is the triple confirmation and it's this one triple confirmation kernel regression overlay created by quantra AI click on it to add it to the Chart this indicator is a super cool tool that uses not one not two but three different kernel regression functions to calculate a super balanced and smooth composite of the regressions if you don't know how the kernel regression works let me give you a short explanation kernel regression is a non-parametric machine learning algorithm that operates by fitting curves to a given data set by combining historical Market data with the power of Kernel regression we can make informed predictions and gain valuable insights into market trends this technique has proven particularly effective in capturing complex and nonlinear relationships within financial markets the triple confirmation kernel regression indicator utilizes three separate kernel regression functions first the app nikov kernel regression known for its exceptional ability to smooth data this method assigns less weight to data points that are farther away from the target Point effectively minimizing variance second the wave kernel regression similar to the EP nikov method this approach assigns weight to data points based on their proximity enabling it to capture repetitive patterns and wave like Trends within the data consequently it effectively smoothens out the impact of underlying cyclical Trends and third the logistic kernel regression this uses the logistic function in order to assign weights by probability distribution on the distance between data points and Target points it thus avoids both bias and variance to a certain level now let's make some tweaks to this indicator to maximize our profits in the Market when you head over to the indicator settings panel I recommend making a few adjustments in the input section change the bandwidth to 75 which is the length of the kernel regression calculation and standard deviation extreme from 3 to 2 and then tick the overbought oversold shading and in the style section and TI the bar color once you're done click on okay to save the changes here this white line is the center line which represents the long-term average Trend when the price action is trading below this Center Line it indicates a potential bearish market and a downtrend consequently during a downtrend our Focus will solely be on identifying selling opportunities and when the price action is trading above the center line it indicates a potential bullish market and an uptrend consequently during an uptrend our Focus will solely be on identifying buying opportunities above the center line there is a distinct purple upper Channel when the price approaches or enters this upper Channel it signifies an overbought Market condition conversely below the center line there exists a lower Channel resembling a shade of blue although I am un certain of the exact name of this color for this video I will refer to it as blue so when the price enters or approaches this lower Channel it indicates an oversold Market condition next we have this color changing shading that moves along with the price giving us valuable insights into the short-term trends of the market when it turns blue it indicates an uptrend and when it changes to purple it indicates a downtrend all right now let's take it up a notch and add an additional indicator to enhance our entry signals to apply the indicator simply go to the indicator section and type Voss predictor in the the search box and select this first one Voss predictor click on it to added to the Chart this line here that changes color between green and red is the Voss predictive filter line and the white line represents a band pass filter when the Voss predictive filter line crosses over the white line it signifies a Buy Signal however for this by signal to be valid the crossover must occur below the center line similarly when the Voss predictive filter line crosses under the white line it indicates a cell signal and the crossover should happen above the center line additionally we have these dots located in the middle of the indicator that change color the color of these dots holds significant importance as it reveals the current momentum and direction of the market when the dots turn red it indicates bearish momentum in such cases we solely focus on bearish crossovers that occur above the center line which indicate a cell signal conversely when these dots turn green it signifies bullish momentum and we only seek bullish crossovers below the center line which indicate a Buy Signal now that we've covered the foundation of our strategy let's move on to the entry and exit rules let's begin with the rules for entering long positions first the price action must be trading above the white line which indicates a bullish Trend however it is equally important that the price remain below the overbought Zone moving on to the second indicator we should look for bullish crossovers below the center line additionally the center line dots should also be green further supporting the bullish Trend if all of these conditions are met you can take a long position we will open a long order at the opening of the next candle you can place your stop loss just below this blue shading or at the white line as for your Target aim for a profit that is two times greater than your stop loss now let's understand the conditions for entering a short trade entering a short position is the exact opposite of entering a long position first the price action must be trading below the white line which indicates a bearish trend however at the same time it should be above the oversold Zone next down here we should look for bearish crossovers above the center line Additionally the center line dots should also be red further supporting the bearish trend if all of these conditions are met you can take a short position we will open a short order at the opening of the next candle you can place your stop loss just above this purple shading or at the white line as for your Target aim for a profit that is two times greater than your stop loss let's look at some examples to help you understand as you can see here the price is trading above the white line indicating a bullish Trend additionally it is below the overbought Zone moving on we have a bullish crossover below the center line which serves as a buying signal moreover the center line dots have already turned green further supporting the bullish Trend so all the rules are met on this candle we will enter a long trade at the opening of the next candle I set the stop loss just below the blue shading and our take profit would be two times greater than the stop loss here we have a bullish crossover below the center line which indicates a Buy Signal additionally the price is below the over over bot Zone and above the white line further confirming a bullish Trend however it's important to note that the center line dots are red indicating a bearish trend so this Buy Signal is not valid let's see some more examples here the price is trading below the white line indicating a bearish trend additionally it is above the oversold Zone moving on we have a bearish crossover above the center line which serves as a selling signal moreover the center line dots have already turned red further supp according the bearish trend so all the rules are met on this candle we will enter a short trade at the opening of the next candle I set the stop loss just above the white line and our take profit would be two times greater than the stop loss here we have another bullish crossover above the center line which indicates a sell signal the price is trading below the white line indicating a bearish trend additionally it is above the oversold Zone furthermore the center line Dots here are also red supporting the bearish trend so all the rules are met on this this candle we will enter a short trade at the opening of the next candle I set the stop loss just above the white line and as you can see our stop loss is hid in this trade here the price is trading above the white line indicating a bullish Trend additionally it is below the overbought Zone moving on we have a bullish crossover below the center line which serves as a buying signal moreover the center line dots have already turned green further supporting the bullish Trend so all the rules are met on this candle we will enter a long trade at the opening of the next handle I set the stop loss just below the white line and our take profit would be two times greater than the stop loss please remember that the strategy shown in this video is to demonstrate the indicators and how to use them not extensively backed again nothing in this video should be taken as Financial advice this is purely for informational purposes so thank you guys for watching and if you like the video then be sure to subscribe to our channel so that you don't miss on any of our new videos I'll see you in the next video

Channel: TRADELINE

Views: 89,508

Keywords: intraday trading strategy, triple confirmation strategy, kernel regression strategy, voss predictive filter, momentum oscillator, tradingview indicator, intraday trading signals, forex scalping, nifty options trading, banknifty, crypto scalping, stocks, ema, stochastic rsi, buy sell signal indicators

Id: ywH4K0RhGLQ

Length: 8min 56sec (536 seconds)

Published: Sat Feb 10 2024