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Have you been searching for the best Tradingview strategy to find winning trades in 2024? As an avid trader for over a decade, I've tested countless indicators and strategies to identify the most effective setups across the forex and crypto markets. Through years of trial and error, I've landed on a simple yet powerful Tradingview strategy that works repeatedly. In this article, I'll share the key indicators and techniques I use to spot high-probability trades. Whether you're day trading stocks, cryptocurrencies or forex pairs, these Tradingview tools provide an edge. By the end, you'll have a repeatable process for analyzing the markets and confidently entering positions. Discover the best Tradingview strategy for finding profitable trades in 2023.
Key Takeaways
- As a trader, your tools can make or break your success. In 2024, one of the best tools out there is TradingView. I've been using their platform for years and have found some indicators that consistently help me find winning trades.
- One of my favourites is the MACD indicator. It stands for Moving Average Convergence Divergence and helps determine momentum and trend direction. When the two lines cross, it signals a trend change. I use the MACD on the 1-hour and 4-hour timeframes for both forex and crypto.
- Another indicator I can't live without is the Relative Strength Index or RSI. It measures the speed and change of price movements to determine if a stock is overbought or oversold. An RSI over 70 means the stock is overbought and could pull back, while under 30 means it's oversold and could bounce. The RSI works great for day trading strategies.
- The 50 and 200 simple moving averages are my go-to for trend direction. When the 50 crosses above the 200, it's a buy signal. When the 50 drops below the 200, it's time to sell. These have been a tried-and-true method for finding trends in the financial markets for decades.
- Tradingview has a huge selection of indicators, but for day trading stocks, forex or crypto in 2023, the MACD, RSI, and 50/200 SMA will give you an edge. Combine them for the best results, and always use tight stop losses. With the right risk management, these indicators can help you find winning trades year-round.
The Best Technical Indicators for TradingView for Free
As a forex or crypto trader, finding an edge in the markets is key. For me, the best tools are on TradingView, especially their technical indicators. Here are a few of my free favourites:
The Moving Average Convergence Divergence (MACD) is a must-have. It shows the relationship between two moving averages and can indicate momentum changes before the price chart does. When the MACD line crosses above the signal line, it's a buy signal. When it crosses below, it's time to sell.
The Relative Strength Index (RSI) measures the speed and change of price movements to determine if a stock is overbought or oversold. An RSI over 70 means a stock is overbought and may indicate a selling opportunity. Under 30 means oversold and could signal a buy.
My secret weapon is the Ichimoku Cloud. This indicator shows support and resistance levels, momentum and trend direction. When the price is above the cloud, it's a buy. Below the cloud is a sell. The cloud provides strong support and resistance, so look for reversals when the price reaches the cloud boundary.
I combine the MACD, RSI and Ichimoku Cloud with candlestick charts on the 1, 5 and 15-minute timeframes for day trading. Looking for crossovers, overbought/oversold levels and cloud breaks on multiple timeframes gives the most robust trading signals and the best chance for profits in 2023.
With the right combination of indicators matching your trading style, you'll find winning trades on TradingView quickly. These tools, practice, and experience will set you up for success as a forex or crypto trader this year and beyond.
How to Use Multiple Time Frames for Pinpointing Entries
When analyzing the markets on TradingView, using multiple time frames is key to finding the best entries. I’ve found the most success looking at the 1-hour, 4-hour and daily charts to get the full picture.
The 1-hour chart shows me the short-term price action and trend. I look for potential reversal or continuation patterns forming, like double bottoms, head and shoulders or flags. If a pattern looks to be emerging, I zoom out to the 4-hour chart to see if the overall trend agrees. The 4-hour and daily charts indicate the primary trend and if we’re in an uptrend, downtrend or range.
If the trends on all time frames align, I am confident we could see a big move. I then return to the 1-hour chart and wait for an entry signal like a break of a key level, a candlestick pattern or a moving average crossover. My stop loss goes beyond the nearest swing, high or low, depending on whether I’m going long or short.
For example, recently, I spotted a head and shoulders top pattern on the 1-hour BTCUSD chart. I checked the 4-hour and daily charts and saw we were still in an uptrend but losing steam. When the pattern's neckline broke, I shorted BTCUSD with a stop above the right shoulder. My target was the pattern's height projected down from the breakout point.
Using a multi-timeframe approach helps ensure you’re trading toward the major trend. You’ll have tighter stops, better risk/reward trades and a higher win percentage. On TradingView, I have a layout with the 1-hour, 4-hour and daily BTCUSD charts stacked on top of each other with indicators like RSI, MACD and moving averages on each. This gives me an edge in finding trades other traders may miss.
In 2023, a solid trading strategy focused on multi-time frame analysis and high-probability chart patterns could be your key to market success. Look for trades where the short, medium and long-term trends agree, and you’ll have the best odds of riding the wave.
The 2024 Top TradingView Strategies for Crypto and Forex for Free
For 2023, I’ve found some of the top trading strategies on TradingView that have worked well for me in forex and crypto. These techniques use indicators that identify opportunities to buy and sell at the right time.
Moving Averages
One of my favourite indicators is the moving average. I use the 9-, 20- and 50-period MAs. When the shorter-term MA crosses above the longer-term MA, it signals an upward trend and a chance to buy. When the shorter MA crosses below, the longer MA indicates a downtrend and an opportunity to sell. The moving average helps me spot trends and get in and out at the beginning of price swings.
Relative Strength Index
The RSI is a momentum indicator that measures the speed and change of price movements. An RSI over 70 means the market is overbought, so I want to sell. An RSI under 30 means the market is oversold, signaling a buying opportunity. Divergences, where the RSI is going in the opposite direction of the price, also indicate a trend reversal. I’ve found RSI works well for timing entries and exits.
Stochastic Oscillator
The Stochastic Oscillator measures momentum and identifies overbought/oversold zones. Like RSI, readings over 80 indicate overbought conditions and under 20 signal oversold conditions. I look for crossovers of the slow and fast Stochastic lines for buy/sell signals. Stochastic helps confirm other indicators and works well in ranging, trending, and volatile markets.
Using a combination of these indicators, I’ve found high probability trades on TradingView. Of course, no strategy is perfect, but these techniques have given me an edge. Be sure always to use stop losses and solid money management when trading. With practice and patience, these strategies can work for you, too, in 2024!
Trading Indicator Signals
TradingView’s Best Indicators in Day Trading Strategies for Free
When I first started exploring TradingView, the array of indicators was overwhelming. There are hundreds to choose from, but which are effective for day trading? I’ve narrowed it down to a few of my favourites through trial and error. These indicators have helped me find winning trades and achieve consistency in the financial markets.
The VWAP indicator is one of the most useful. It shows the average price of a stock over a selected time. I look for stocks trading above the VWAP, which indicates buying pressure and a potential uptrend. When a stock drops below the VWAP, it signals to sell pressure and a possible reversal.
The RSI indicator measures the speed and change of price movements. An RSI over 70 means a stock is overbought, while under 30 means oversold. These extremes often mean a reversal is coming. I look for stocks with an RSI in the 30 to 70 range, which indicates the price is ranging and may be ready to trend.
Finally, the MACD indicator shows the relationship between two moving averages. When the MACD line crosses above the signal line, it’s a buy signal. When it crosses below, it’s a sell signal. The MACD is best used for trading crossovers and spotting new trends.
Using a combination of VWAP, RSI and MACD, I can find stocks ranging or trending with potential big moves. I then use candlestick charts to time my entries and exits. These indicators, combined with strong risk management, have led to many winning trades and helped make 2023 my most profitable year yet as a day trader. While there’s no “holy grail” indicator, VWAP, RSI and MACD come pretty close for day trading success on TradingView.
Advanced TradingView Tips for Finding Winning Trades
TradingView has become my go-to platform for analyzing the markets and finding winning trade setups. Over the years, I’ve discovered useful tips and tricks to get the most out of TradingView.
One of my favourite features is the indicator library. There are hundreds of free indicators created by TradingView and other traders. I’ve tested many and found several that work well for my trading style. The Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) are my favourite indicators. The RSI helps identify overbought and oversold levels, so I know when a reversal might occur. The MACD indicates momentum and trend changes. Using them together gives me a more complete picture of what the market is doing.
Another useful tool is the alert function. I can set up alerts for when a stock hits a certain price target when an indicator gives a buy or sell signal, or when the market opens or closes. Alerts are delivered to my phone or desktop, so I never miss an opportunity.
TradingView also allows you to create multiple watchlists to track different stocks, sectors or strategies. I have watchlists for day trading, swing trading, stocks under $10, and my favourite sectors like tech and healthcare. With a glance, I can see the top gainers and losers in each list.
Finally, TradingView has a large community of traders sharing ideas and strategies. I learn new tips and tricks by studying the charts and analyzing other traders' posts. I also share my thoughts to get feedback. The community aspect is really valuable for improving your trading skills.
In 2023, keep experimenting with TradingView’s many features to gain an edge in the markets. With the right indicators, alerts and community insights tailored to your trading style, you'll be well on your way to finding more winning trades.
Conclusion
That wraps up my top trading view strategy recommendations for finding winning trades in 2023. You'll have the technical tools you need to spot market opportunities between the indicators like Bollinger Bands, MACD, and RSI and the chart patterns to watch for. Of course, the most important part is putting in the screen time - the more charts you analyze and trade you track, the better you'll identify those golden setups.
Tradingview makes the process easier, but the experience is the best teacher. If you dedicate yourself to continuous learning and improving your craft, 2023 could be your most profitable year of trading. The markets aren't going anywhere, so take your time and be strategic. With the right knowledge and preparation, you'll be well on your way to mastering your best trading view strategy.
Keep in mind all of the above indicators and systems are free. There are better proprietary systems that include paid for indicators. These ususally are of higher quality.
Q: What are trading strategies?
A: Trading strategies are techniques and rules traders use to make informed decisions and execute trades in financial markets.
Q: What is day trading?
A: Day trading refers to buying and selling financial instruments within the same day to profit from short-term price fluctuations.
Q: What is technical analysis?
A: Technical analysis is a method of analyzing financial markets by studying chart patterns, indicators, and historical price data to predict future price movements.
Q: What are trading strategies on TradingView?
A: Trading strategies on TradingView are specific approaches or methods traders develop using the TradingView platform to identify potential trading opportunities.
Q: What is the RSI indicator?
A: The RSI (Relative Strength Index) is a popular technical indicator used by traders to measure the strength and speed of a price movement.
Q: What are the best TradingView indicators?
A: The best TradingView indicators provide valuable insights and help traders make more informed decisions.
Q: How can I find the best Tradingview indicator for day trading?
A: If you're looking for the best TradingView indicator for day trading, consider factors such as accuracy, ease of use, and compatibility with your trading strategy.
Q: Are there any secret TradingView best indicators with a high win rate?
A: While no "secret" TradingView best indicators are guaranteed to have a high win rate, some indicators perform well in certain market conditions and can improve trading results.
Q: Which trading strategies use high win-rate trading?
A: Various trading strategies aim to achieve a high win rate, such as trend-following strategies, breakout strategies, and mean reversion strategies.
About the AuthorJohn Leonardo
John Leonardo invests and trades in Forex and Crypto regularly. John has been and investor in Crypto since 2016. He has been trading for over 15 years and enjoys learning new methods of trading that he passes on to others. His trading style includes both technicals and fundamentals. He has tried all sorts of methods and systems, discerning what works from what doesn't. He presently trades a managed account as well as his own funds. He follows the news using such professional resources as financialsource.io and Bloomberg. He combines the daily sentiment and his extensive knowledge of technical indicators to make consistent profits in the markets. He publishes his articles on trading regularly on both the blog and youtube.
These articles are structured using AI, fact checked and then humanized using his professional experience.
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