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.