Boost Your Day Trading Success with SECRET Indicators

Table of Contents

1. Introduction
2. Setting Up Indicators on TradingView
3. The QQE Threshold Indicator
   • Changing the RSI Length
   • Adjusting Style Settings
4. The Extreme Trend Indicator
   • Changing Line Colors
5. Trading Strategy: Long Positions
   • Criteria for Entry
   • Setting Take Profit and Stop Loss
6. Trading Strategy: Short Positions
   • Criteria for Entry
   • Setting Take Profit and Stop Loss
7. Examples of Long and Short Positions
   • Analyzing Chart Examples
   • Risk-Reward Ratios
8. Conclusion
9. Accessing Free Weekly Trades on Telegram
10. Full Access to Trades on Patreon

The Best Trading View Indicators for Day Trading

In this video, I am going to share with You the best TradingView indicators for day trading that have an incredibly high win rate. While it's true that there's no such thing as a perfect indicator, these indicators come very close to perfection. Surprisingly, not many people are aware of these powerful indicators, which is why I'm excited to share them with you. So, if you're looking to enhance your day trading game, you definitely don't want to miss this.

To begin, head over to TradingView.com and make sure you have an account. You can sign up for free if you haven't done so already. Once you're logged in, follow the steps outlined below to set up the indicators and begin using them effectively.

Setting Up Indicators on TradingView

1. Open the desired chart and select the 15-minute time frame.
2. Change the Candlestick Type to "Heikin Ashi" for better visual representation.
3. Click on the "Indicator" button to add the first indicator.

The QQE Threshold Indicator

Instead of using the well-known QQE Mod indicator, we'll be utilizing the QQE Threshold indicator by Jose5770. This indicator is relatively undiscovered by most traders, giving us an AdVantage in day trading.

Changing the RSI Length

1. Access the QQE Threshold indicator's settings by clicking on the cog icon.
2. Navigate to the "Inputs" section.
3. Adjust the RSI length from the default 14 to just 3.

Adjusting Style Settings

1. Head to the "Style" tab within the indicator settings.
2. Uncheck the "Plotting" option to remove unnecessary plot lines.
3. Disable the levels and H lines background for a cleaner chart.

The Extreme Trend Indicator

The Second indicator we will be using is the Extreme Trend indicator by Gyoti. It's another excellent but often overlooked tool for day traders. However, we need to make a few changes to its default appearance.

Changing Line Colors

1. Open the settings for the Extreme Trend indicator.
2. Remove any unnecessary shapes.
3. Change the Blue lines, representing bullish trends, to green.
4. Change the yellow lines, representing bearish trends, to red.
5. Save your settings.

Now that we have our indicators set up, let's Delve into the trading strategies and how to effectively trade using these indicators.

Trading Strategy: Long Positions

To initiate a long position using these indicators, we need to meet specific criteria. Adhering to these rules will help increase the probability of a successful trade.

Criteria for Entry

1. Price must be above the X-trend line.
2. The QQE histogram bar must be green.
3. The color of the Heikin Ashi candle must be green.

Setting Take Profit and Stop Loss

• Set the stop loss just below the most recent swing low.
• Take profit when the QQE histogram shows a red bar.

Trading Strategy: Short Positions

For short positions, we need to follow the opposite rules to enter and exit trades successfully.

Criteria for Entry

1. Price must be below the X-trend line.
2. The QQE histogram bar must be red.
3. The color of the Heikin Ashi candle must be red.

Setting Take Profit and Stop Loss

• Set the stop loss just above the most recent swing high.
• Take profit when the QQE histogram shows a green bar.

Now that you understand the trading strategies for both long and short positions, let's explore some examples to solidify your understanding.

Examples of Long and Short Positions

Here, we present real chart examples to illustrate how to implement the strategies discussed earlier. We will analyze various scenarios to demonstrate the effectiveness of these indicators.

Analyzing the examples, you'll Notice that the risk-reward ratios are highly favorable. Even with small profits on some trades, overall profitability is achieved when factoring in the larger winning trades.

After exploring these examples, it's evident that this particular strategy offers numerous opportunities for high-probability trades. Keep in mind that consistency and risk management are key to successful day trading.

Conclusion

In conclusion, the combination of the QQE Threshold and Extreme Trend indicators provides day traders with powerful tools to increase their chances of success. By following the specific criteria outlined in this article, you can identify optimal entry and exit points, setting yourself up for profitable trades.

If you found this information helpful, please Show your support by hitting the like button and leaving a comment. Additionally, consider subscribing to my YouTube Channel and enabling notifications for future videos focused on helping you become a more profitable trader.

To access my free weekly trades on Telegram or gain full access to all my trades on Patreon, click on the links provided in the description below. If you have any questions or need further assistance, feel free to reach out. Trade wisely and stay profitable.

Highlights:

• Discover powerful TradingView indicators for day trading with high win rates.
• Utilize the QQE Threshold indicator and make necessary adjustments for optimal performance.
• Leverage the Extreme Trend indicator to enhance your trading strategy.
• Learn the criteria for entering long and short positions.
• Set appropriate take profit and stop loss levels to manage risk effectively.
• Analyze real chart examples to understand the application of these indicators.
• Achieve favorable risk-reward ratios with consistent application of the strategy.
• Show support by liking and commenting on the video.
• Access free weekly trades on Telegram and full trade access on Patreon.

FAQ

Q: Can these indicators be used in conjunction with other technical analysis tools?\ A: Absolutely! While these indicators provide a strong foundation for day trading, you can combine them with other indicators and analysis techniques to fine-tune your strategy.

Q: Can I use these indicators on different time frames?\ A: Although this article focuses on the 15-minute time frame, you can experiment with other time frames to suit your preferred trading style.

Q: Are these indicators suitable for beginner traders?\ A: Yes, these indicators are beginner-friendly and provide a straightforward approach to day trading. However, it's essential to practice on a demo account and thoroughly understand the strategy before risking real money.

Q: How often should I check for trade setups using these indicators?\ A: It's recommended to check for trade setups regularly throughout the trading day. However, avoid overtrading and maintain discipline by adhering to your predetermined trading plan.

Q: Can I Apply this strategy to different markets like forex, stocks, and cryptocurrencies?\ A: Absolutely! This strategy can be adapted to various markets, including forex, stocks, cryptocurrencies, and indices. The key is to understand the specific market dynamics and adjust risk management accordingly.