This secret trading view indicator shows
you the future of the price of the asset, and the crazy thing is that it is actually really
accurate. In today's video we will be showing you this new and free indicator that tries to predict
the exact future of the price of an asset by looking at the price history. Please leave a like
on the video and subscribe to the channel to help us keep creating these free videos. Now that
we have gotten that out of the way let’s start! Let’s first headover to tradingview
and add the indicator to the chart. Headover to the indicator search tab and search
for the Echo indicator. Select the indicator made by Lux algo and add it to the chart. Let’s first
ty to understand exactly how the indicator works so that we will be able to know how we can use
the indicator to enter into profitable positions. When you look at the indicator settings you will
see the following; an evaluation window, forecast window, forecast mode, forecast construction and
source. The evaluation window settings refer to the window size used for finding historical
observations similar or dissimilar to recent observations. The forecast window determines the
forecasting horizon. The forecast mode determines whether to use historical similarities or
dissimilarities in the recent price observations. The forecast construction determines how the
forecast is constructed, lastly we have the source which is the setting that allows us to
choose the input of the forecast. Now that we know what settings are available for the indicator
let’s take a look at how we can use the indicator. The indicator can be used to forecast the
future trends of the asset, the indicator also indicates which historical variations have
the highest degree of similarity or dissimilarity. As you can see there are three colors
that are being plotted on the chart. the forecasting window is orange and determines
the prices segment that will be used as a reference for the search for the most similar
historical price segment which is colored in green. As you can see here the grey area is the
total evaluation zone, then the green area shows you the most similar part within this grey area
when comparing it with the orange reference area. I hope you understand the indicator better, now
let’s take a look at when we will enter into a buy position with this indicator. As you can
see here the indicator is predicting that the price of the asset will rise. This indicates
that we should enter into a buy position. We will enter into the buy position and place the
stoploss at the recent swing low. For the take profit, we will target a 1.5 times risk-to-reward
ratio. Now let’s take a look at the result. Here we see that the indicator is predicting
that the price of the asset will probably continue in the downtrend. So let’s enter into
a sell position. We will place the stoploss at the recent swing high. For the take profit we
will target a 1.5 times risk-to-reward ratio. Now let’s see how the trade plays out. Even though this indicator is really good, the
indicator isn’t meant to be used on its own. This is confirmed by the fact that
the indicator also provides losing signals when we use it on its own. So let’s
head over to the indicator search tab and add the other indicators to the chart to
make this strategy even more profitable. First, navigate to the indicator search tab
and search for the SSL hybrid indicator. Select the indicator made by
Mihkel and add it to the chart. The second indicator that we will be adding
to the chart is the volume oscillator. Search for the volume oscillator indicator,
select the indicator made by tradingview, and add it to the chart. Those were all of
the indicators that we will need to add. To optimize the indicators for the strategy
let’s change the indicator settings. First headover to the SSL hybrid indicator
settings and click on the inputs tab. We will be changing the Baseline length from
60 to 200. After doing that we will need to change the Baseline type to Mc Ginely
which is a type of moving average that was designed to track the market better
than existing moving average indicators. Now let’s click on the style tab
and change the style settings. We will be unchecking all of the checkboxes
except for the bar color and MA-baseline checkbox. Now let’s change the Volume oscillator settings.
Headover to the volume oscillator style settings. We will be changing the color of the colors
of the lines to make them more visible. That was all that we needed to do. Now let
me show you how we will combine all of the indicators to make accurate predictions
of where the price will be going. The first indicator that we added is going
to act as the trend direction indicator for this strategy. This means that by using
this indicator we can filter out trades that go against the greater trend. We also
added the volume oscillator to the chart. This indicator will help us identify periods in
the market where there is a high amount of volume. This means that this indicator will try to
filter out ranging and sideways markets. And lastly we will be using the echo forecast
indicator as the entry signal to know exactly when to enter into a position. Now that
you know how all of the indicators work and how we will be using them let’s take
a look at when to enter into a position. But before that, if you are looking for a
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all of the previously mentioned features. To enter into a long position the
following conditions will need to be met. Firstly the price must be touching the top of the
forecast window, if we see that that is the case we will take a look at the forecast line. The
line will need to point upwards signaling that the uptrend will continue. Now we will need
to take a look at the SSL Hybrid indicator. The candlestick color will need to be blue
indicating that we are currently in an uptrend. to make sure that there is enough volume in
the market we will need to look at the volume oscillator indicator. We will know if there is
enough volume if the line is above the zero line. Before entering into the position we will first
need to make sure that the forecast line won’t hit the stoploss before it hits the takeprofit. To
make sure of this click on the long position tool, we will use this tool to map out the entry. We
will put the stoploss at the recent swing low. For the takeprofit we will target a 1.5
times risk-to-reward ratio. As you can see, according to the forecast the takeprofit will be
hit before the stoploss is hit. Now that we know this we will actually enter into the position.
Now let’s see how the trade will play out. Now let me show you a very important rule, As
you can see here the price is touching the top of the forecast window. We also see that the
forecast is indicating that the price will continue in an uptrend. After taking a look at
the bar color we see that the color is blue, this means that the conditions for
the SSL indicator have been met. Lastly we take a look at the volume oscillator, we
see that the volume line is above the zero line. this means that all of the conditions have been
met, however we won’t enter into the position. If we map out the trade and put the stop
loss at the recent swing low and we target a 1.5 times risk-to-reward ratio for the
take profit. We will see the following, the stop loss will be hit before the take
profit is hit according to the forecast. Because of this, we will
not enter into the position. Now let’s take a look at when
to enter into a sell position. We first will need the candlestick to be touching
the bottom of the forecast window. we will also need the forecast line to be pointing downwards
indicating that the downtrend will continue. If we look at the candlestick color we see that it
is also red meaning that the SSL hybrid conditions have been met. The same goes for the Volume
oscillator because we can see that the volume line is above the zero line. Now that all of the
conditions have been met let’s map out the trade to make sure that we won’t get stopped out based
on the forecast line. We will place the stop loss at the recent swing high and for the take profit,
we will target a 1.5 times risk-to-reward ratio. as you can see according to the forecast
line our stoploss won’t be hit before the take profit is hit. So let’s actually enter into
the trade. Now let’s see how the trade plays out. As you can see the trade was very profitable. Overall this seems like such an interesting and
advanced indicator. I think that the author of the indicator did a great job of creating it. By
combining the indicator with the other ones, we are also able to create a profitable strategy to
use alongside it. Thank you for watching, please leave a like and subscribe to the channel, if you
have any questions feel free to leave a comment.
