Lesson 7: Adding and Configuring Indicators

In this lesson, you’ll learn how to find, add, and configure essential indicators on TradingView to enhance your trading strategy.

Key Concepts:

Indicators Covered:

  • EMAs Min Max (by Edward Benton): Provides a comprehensive view of moving averages, offering buy and sell signals when crossover events occur.

  • CBC 5MA DRS (Color-Based Code): Displays multiple moving averages with color themes; essential for identifying golden crosses and death crosses.

  • VRVP (Visible Range Volume Profile): Shows the most traded price levels over a specified period, highlighting points of control, high-value, and low-value areas.

  • Volume Indicator: Measures buying and selling pressure, essential for understanding market sentiment.

  • Stochastic RSI (by Neobutane): A faster, more sensitive RSI indicator that helps detect overbought and oversold conditions.

  • RSI (Relative Strength Index): A classic indicator for identifying overbought (above 70) and oversold (below 30) conditions.

  • MACD (Moving Average Convergence Divergence): A momentum indicator that helps spot trend reversals using signal line crossovers and histogram strength.

Configuring Indicators:

  • Saving favorite indicators for quick access.

  • Adjusting indicator settings to enhance granularity and visibility.

  • Understanding how each indicator complements others for a broader market perspective.

Combining Indicators:

  • Using indicators together (like RSI with MACD or Stochastic RSI) to confirm signals and strengthen decision-making.

  • Understanding how indicators interact with price action to identify high-probability trades.

By the end of this lesson, you’ll know how to effectively add, configure, and interpret multiple indicators to make more informed trading decisions.