MY TRADINGVIEW SETUP - Explained! 🧵
In this 🧵, I cover
- Indicators I use in Tradingview
- Settings for the indicators I use
- Why do I use these Indicators & Settings
Ready to know what I use?...
Let’s go...😃
In this 🧵, I cover
- Indicators I use in Tradingview
- Settings for the indicators I use
- Why do I use these Indicators & Settings
Ready to know what I use?...
Let’s go...😃
1 -> Commodity Channel Index(CCI) Indicator to assess Bullishness
- In short, it is a momentum indicator
- Above 100, indicates bullishness
- Below -100, indicates bearishness
If you do not know what CCI indicator is, watch this video 👇
youtu.be
- In short, it is a momentum indicator
- Above 100, indicates bullishness
- Below -100, indicates bearishness
If you do not know what CCI indicator is, watch this video 👇
youtu.be
1.1 -> Which CCI indicator to use in Tradingview? 😅
- Search for the inbuilt Commodity Channel Index in 'Technicals' section
- Go to settings -> Inputs -> Length - change this to 34 from default 20
Refer to this video for details👇
- Search for the inbuilt Commodity Channel Index in 'Technicals' section
- Go to settings -> Inputs -> Length - change this to 34 from default 20
Refer to this video for details👇
1.2 -> What is 34 in CCI? 🤔
- 34 indicates that the last 34 bars are considered for CCI value calculation
- For ex: if you are on the weekly charts, the last 34 weeks will be considered for CCI
- The default 20 will give more buy/sell signals than 34. Lesser the better!
- 34 indicates that the last 34 bars are considered for CCI value calculation
- For ex: if you are on the weekly charts, the last 34 weeks will be considered for CCI
- The default 20 will give more buy/sell signals than 34. Lesser the better!
1.3. Should you also follow 34 in CCI? 😅
- This is completely up to you
- I would suggest testing the values over multiple stocks & assessing how it works
- You need to find an optimum value that fits your trading style/needs
- This is completely up to you
- I would suggest testing the values over multiple stocks & assessing how it works
- You need to find an optimum value that fits your trading style/needs
2 -> Relative Strength(RS) to assess Outperformance
- For the 1000th time, read this carefully - 'This is not RSI' but RS. They are completely different indicators
If you want to understand what RS indicator is watch this video👇
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- For the 1000th time, read this carefully - 'This is not RSI' but RS. They are completely different indicators
If you want to understand what RS indicator is watch this video👇
youtu.be
2.1 -> Which RS indicator to use in Tradingview?
- Search for 'Mansfield Relative strength' in Tradingview indicator
- Go to settings -> change symbol to 'CNX500' & keep MA(Moving average) length 52
Refer to this video for details👇
- Search for 'Mansfield Relative strength' in Tradingview indicator
- Go to settings -> change symbol to 'CNX500' & keep MA(Moving average) length 52
Refer to this video for details👇
2.2 -> Why 52 as MA in RS?
- In the weekly charts, 52 indicates 52 weeks. So, it is the 1 year moving average of the Relative strength
- The lower the number, the higher the no. of signals you will get
- In the weekly charts, 52 indicates 52 weeks. So, it is the 1 year moving average of the Relative strength
- The lower the number, the higher the no. of signals you will get
3 -> Pivot Points to assess trend changes
- Search for 'Pivot Points High Low' in Tradingview indicator
- Use the default settings & there is no need to change it unless you want to more signals
Refer to this video for details👇
- Search for 'Pivot Points High Low' in Tradingview indicator
- Use the default settings & there is no need to change it unless you want to more signals
Refer to this video for details👇
You can watch this video for Detailed Explanation!
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So, these are the 3 Indicators I use on both weekly & daily charts. I do not change the settings of CCI & RS.
Pivot Points - sometimes depending on the strength of the trend, I might switch to 5,5,5,5.
Hope this clarifies all the doubts for everyone!😀🙏
Pivot Points - sometimes depending on the strength of the trend, I might switch to 5,5,5,5.
Hope this clarifies all the doubts for everyone!😀🙏
Learnt something? If yes, please👇
1. Retweet the first tweet
2. Follow @dmdsplyinvestor
3. Subscribe to my YouTube channel for more content! youtube.com
1. Retweet the first tweet
2. Follow @dmdsplyinvestor
3. Subscribe to my YouTube channel for more content! youtube.com
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