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Mastering TradingView Tools and Strategies

Dec 16, 2024

Trading Like a Pro on TradingView

Introduction

  • Goal: Turn viewers into masters at TradingView
    • Organized, efficient, streamlined trading workflow
    • Tips and tricks learned over 8 years of trading experience
  • Setting up TradingView from scratch
    • Layout, color theme, chart style
    • Features overview
    • Organized workflow setup
    • Tools, indicators, keyboard shortcuts
    • Daily usage demonstration

Getting Started with TradingView

  • Account Creation: Shows market overview and summary
  • Key Products: Economic Calendar
    • Events affecting market volatility
    • Filter by important events
  • Market Overview Tab: Shows all markets (stocks, ETFs, crypto, forex, etc.)
  • News Overview: Important headlines affecting trading
  • Desktop Application: Recommended for a cleaner experience

Setting Up TradingView

  • Super Charts: Main charting tool
  • App Settings: Dark/light mode options
  • Main Chart Features:
    • Timeframe selection (e.g., 1 week, 1 day, 4 hours, etc.)
    • Candlestick charting style
    • Alerts setup for price actions

Trading Tools and Features

  • Bar Replay:
    • Practice day trading
    • Test trading systems
  • Chart Customization:
    • Colors, themes, gridlines
    • Control over watch lists and alerts
  • Multi-timeframe Analysis:
    • Multiple chart windows
    • Synchronize or differentiate timeframes

Tools and Indicators

  • Trend Line Indicator: Identify support and resistance
  • Parallel Channel Tool: Visualize potential price movements
  • Horizontal Line Tool: Mark stop loss/take profit levels
  • Price Range Tool: Measure price changes and durations
  • Fibonacci Retracement:
    • Key levels for potential reversals
    • Predict continuation of trends
  • Trend-Based Fibonacci Extension:
    • Predict tops of trends

Indicators and Customization

  • Custom Indicators:
    • Inevitrade Pro Plus: Overvalued/undervalued areas
    • IT Foundation Indicator: Market trends and moving averages
    • Inevitrade Position Size Calculator: Calculate trade sizes

Trading Workflow

  • Watchlist Management:
    • Create and categorize watchlists
    • Use flagging system for organization
  • Economic Calendar:
    • Analyze high-importance events
  • Daily Analysis and Smart Alerts:
    • Determine daily trading bias

Final Tips

  • Saving and Managing Analysis:
    • Use object tree for organizing chart drawings
  • Trade Logging:
    • Save analysis and track trades
  • Community and Resources:
    • Join trading communities for support

Conclusion

  • Aim for financial freedom through trading
  • Utilizing TradingView effectively for better trading results
  • Encouragement to engage with community resources and continue learning

This comprehensive guide of TradingView provides all the tools and strategies to enhance and streamline your trading workflow. For detailed explanations and tutorials, consider engaging with community resources and the creator's channel.