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Decentraland (MANA) sending mixed signals for AltsMANA 1D has been forming an ascending triangle in downtrend as opposed to the more common formation during an uptrend. To form this pattern you need an initial rally where price action begins to consolidate between a flat resistance point and rising support trend line before continue on. Unlike in an uptrend, when the ascending triangle pattern develops during a downtrend it’s more likely to signal a reversal than a continuation. Very rarely will the pattern form perfectly and in the current market conditions we have seen many fake outs and overthrows across most coins so always look for confirmation. How to trade this pattern: Go long on resistance break out but only after confirmation. Go short on support breakdown but only after confirmation. With that being said it's seems more favorable for the bears that we would see a breakdown of support as the prevailing trend is downward and can often lead to resistance holding. With pattern trading or candlestick patterns its always wise to use another tool for confirmation of your analysis. Something such as the RSI can improve your odds of succes.
M
by jlouvierobv
Finding your optimal performance 🏃‍♂️Most traders spend a good bit of time looking at charts. Well here is a chart we traders should all take a look at. The chart shown is the Yerkes-Dodson Law. The Yerkes-Dodson law is a proposition that people perform best at intermediate levels of arousal, and that performance is lower at high or low levels of arousal. The theory behind this is visually represented by the graphic in this idea. No arousal levels or a bored/laidback approach to life will mean no stress but no real performance in what you are trying to achieve or do. However when arousal and stress gets too high by pushing to hard, performance starts to decrease. It's about finding the right balance to achieve an optimal performance. A certain level of stress about what you are trying to achieve motivates you to study, learn or train in order to do your best. A sportsperson has to get bumped up before an event as well as train hard, But getting to worked up and training to hard could cause a decrease in performance when it comes to the event. Pushing not hard enough to pass an exam will lead to a fail as you haven't studied or don't care, But also pushing to hard could lead to a fail as you've let stress and anxiety take over forgetting everything you studied. Moderate levels of arousal is best for overall performance. This theory can be applied to your trading. Take a non interested approach or bored approach and you performance in this area will be affected. Less potential profits etc. Get to focused on your trading or trade to hard could lead to poor performance along with a load of stress in your life. You as an individual will have to self reflect and determine where you fit on the curve in the idea graphic. If you fell more success, achievement and happiness can be had, by all means crack on and go for it! However, if you are getting to a point where you feel you might have reached your limit, it could well be time to dial it back a bit. Don’t push to hard for it that you go down the opposite side of the curve. This theory can be applied to every aspect in your life by using it to balance all aspects of your life will also help your trading as well as work, relationships and everything else we all go through day to day. Thanks for taking time to read this. Darren 🙌
Education
by pow_removetheguesswork
Ethereum forecast and signalLearn and Earn! after reaching the resistance line ( first target ), we have two scenarios, first: directly growing and hitting the last target. two: pullback and reach the stop loss. So after hitting the first target (which is a resistance line in this position too), close half of your trade and move the stop loss to the entry price. --------------------------------------------------------- Pay attention! First: Trades have a time term , and in this case, it's from now until the next 12 hours. (You can also see it in the diagram) Second: You can see the entry price in the chart. Before the price crosses the mentioned place, the trade position is not Active. --------------------------------------------------------- Please write any advice or suggestions. Dear friends, request any cryptocurrency pair, currencies pair for forex, and any index that you want to be analyzed and ask any questions. Thanks for your attention
Long
by Arash-RK
Ethereum Classic forecast and signalLearn and Earn! After breaking the price of 42 USDT and confirming the break. Confirmation of the break of resistance or support in this 1-H chart; that is, the bar (or candle) closed at the top of the resistance or support price, as well as the next candle, growing at least around 5 pip ( in forex usually call it pips ) or units ( 5 pips in cryptocurrency is around: 0.10%) more than the maximum price of the last closed candle. --------------------------------------------------------- Please pay attention! First: Trades have a time term , and in this case, it's from now until the next 24 hours. (You can also see it in the diagram) Second: You can see the entry price in the chart. So for this one, the trade is activated when the price reaches and crosses $42 (USDT) Before the price crosses the mentioned place, the trade position is not active. --------------------------------------------------------- Please write any advice or suggestions. Dear friends, request any cryptocurrency pair, currencies pair for forex, and any index that you want to be analyzed and ask any questions. Thanks for your attention
by Arash-RK
Relaxo Footwears (Pre - Results Analysis) | Good Move PossibleNSE:RELAXO Relaxo Footwears has been into a tight consolidation zone since the past few weeks, with quarterly results Last Quater due to weak results the stock had shipped down 10%, however, it came back to it original price gradually, the current consolidation happening in the stock is forming an ascending triangle pattern (which is considered as a bullish pattern) however with results on the go that will be announced on 26th July'22 (Tuesday) I am slightly positive about the results of this quarter So here is my Trade plan, Though I am bullish I will wait for the confirmation by price action, when the candle closes above the level of 1017, and gives a re-test/retracement on the level of 1017. I will plan to take a long position with a target price of 1111-1115 Also last quarter showed us that the costs pressures for the company had deeply hurt the profitability of the company, let's see how did company plan and take action on the last quarter's issues. Hoping for a positive Quater Do Support by Liking and Commenting on our Post as it motivates us to post more such ideas Disclaimer - The idea shared is just for educational purposes with no intention to promote the company, before investing kindly do your own research and also consult your financial advisor, I am not a SEBI registered individual. #Tradeplan #candlestick #candlestickpatter #priceaction #learn #Earn #analysis #Relaxo #Grow #harshnisar45 #stockmarket #chart #chartpatterns #swingideas #Learn&earn #Wealth #editorschoice #trending #weathmagnet NSE:RELAXO
NSE:RELAXO
by harshnisar45
Trading Sessions in Forex | Trading Basics 🕰🌎 Hey traders, In this post, we will discuss trading sessions in Forex. Let's start with the definition: Trading session is daytime trading hours in a certain location. The opening and closing hours match with business hours. For that reason, trading hours are varying in different countries because of contrasting timezones. ❗️Please, note that different markets may have different trading hours. Also, some markets have pre-market and after-hours trading sessions. In this post, we are discussing only forex trading hours. The forex market opens on Sunday at 21:00 GMT and closes on Friday at 21:00 pm GMT. There are 4 main trading sessions in Forex: 🇦🇺 Australian (Sydney) Session Opens at 21:00 GMT and closes at 06:00 GMT 🇯🇵 Asian (Tokyo) Session Opens at 12:00 GMT and closes at 9:00 GMT. 🇬🇧 UK (London) Session Opens at 7:00 GMT and closes at 16:00 GMT. 🇺🇸 US (New York) Session Opens at 12:00 GMT and closes at 21:00 GMT. Asian trading session is usually categorized by low trading volumes while UK and US sessions are categorized by high trading volumes. Personally, I trade the entire UK session and US opening and usually skip Australian and Asian sessions. What trading sessions do you trade? ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
Education
by VasilyTrader
2
Why can't you make it?Hello dear traders, These are some common mistakes that i used to do that are part of my trading journey which is about 6-7 years. This is my first video on tradingview so apoligize for some pauses in my speech. I was a bit nervous when i did it. If you are at the beginning of your trading journey and it seems that everything is wrong, you gotta ask yourself why can't you make it? Here are some common mistakes that i did and some that i gathered from various discord and slack groups. 1. FOMO-ing (i guess this is in all the videos out there) - Remember that money goes from impatient to the patient. 2. Journaling - this is an important and key process of your trading journey. No matter how boring it looks, its gonna make you better i promise 3. Understanding macro concepts - this is a very important aspect and unfortunately it takes time to progress in this matter. There is always something to learn when it comes to macro economics. Its very important to gauge your sentiment from having a good understanding on what is happening globally. You can do it! Even if you trade mechanical its good to have it in the back of your head. 4. Not writing down key levels on a daily basis (updates of the assets you are trading) 5. Phone trading(while good to watch the markets sometimes) just so you know professional traders dont do it(probably only to adjust orders). We spend time in front of the desk like a regular job. Also it distracts you from being social and turns into an angry monkey because you are high on watching the markets. Been there done that. 6. Quitting your job to trade full time - before you make this switch make sure you are at least profitable for one year on a real account. This is a very common mistake and i met some people along my journey that ended up pretty bad. 7. Overtrading and spending 12-14 hrs in front of the pc - very unhealthy habit and it will turn into an antisocial being. Less is more! 8. Overleveraging - If you dont protect your capital, who else will do it for you? You are the warden of your money and you should treat them with a serious attitude. No one likes to lose so lose less until you get better to crank that leverage up. (use a degen account if you want to go banana on an account but not on the main account) 9. If you are in a trade with defined risk (don't micro manage it) leave it to play out. You already knew the risk from the beginning and you already defined it. Closing too soon can lead to consecutive losses. 10. Using more than 1% risk per trade. Dont go more than that even if its a small account. It will help you build confidence in time. 11. Having a good process -> how many sessions do you want to trade? 1 or 2? (london&new york) ...i mostly trade London and then calling it quits for the day. 12. Daytrading(just so you know there are days where you have to wait for the pricce to come to your levels and it may take a few days for one trade to actually happen) You know what to do in that spare time, learn about the markets and review your trades. If you want you can add more mistakes here. I hope your journey is a successful one and you want to become better everyday in everything you do. You can do it!
U
by Inorogu
FALSE BREAK | Price Action Trading📊 ⚠️How often have you opened a key level breakout trade, and then the price turned against you? False breakout happens quite often and it is a problem for many traders who buy at highs and sell at lows. Breakout trading is a fairly popular and viable trading strategy. However, some breakouts often turn out to be false. This can be quite frustrating, not to mention that it can often lead to a losing trade. However, in many cases, an experienced trader can analyze the market situation and react to it accordingly. False breakouts can make a profit if you know how to trade them correctly. ❗️A false breakdown is a situation when the price violates an obvious level, but then suddenly changes direction. When the initial breakout of the level occurs, many traders open a trade in the direction of the breakdown. These traders are trapped when the price reverses, which triggers a series of stop losses. New traders are also entering the market, and this puts additional pressure on the price. This often turns the price into a new trend, the opposite of the initial breakout. A breakout that turns out to be false is a sign of strength in a downtrend or weakness in an uptrend. As you can see, a false breakout can easily cause significant losses for any trader. Some traders develop their entire strategy around trading false breakouts, as this can be a very powerful trading approach. Some of the best trades happen when market players fall into a trap and their stops start to work. ✅How to find patterns of false breakouts? 🟢If you do not learn how to correctly identify false breakouts, you will not be able to trade them profitably. For example, there will be situations when the price returns to the breakout point, and only then continues its movement. 🟢One of the ways to detect false breakouts is to monitor the volume. Real breakouts are usually accompanied by strong indications of trading volume at the time of the breakout. When this volume is absent, there is a higher probability that the breakout will not happen. 🟢Thus, if the trading volume is low or it decreases during the breakout, a false breakout is likely to occur. In contrast, if the volume is large or it increases, a real breakdown is likely. 🟢It is also useful to monitor not only the trading volume but also the price movement on the lower timeframe. In many cases, you will see that the price makes a very sharp pullback on the lower timeframe, which is not visible on the higher timeframe. ✅False Breakout Trap 🟢After all, many trading textbooks say that a breakout can be considered confirmed when a candle closes above the resistance level. However, the price moves in your direction for a while and then turns 180 degrees. As a result, you have a stop loss triggered. 🟢The false breakout trap includes several candlesticks, usually 1-4, that go beyond the key support or resistance level. Such breakouts occur after a strong movement, as the market has reached an important level, but the price momentum still retains its strength. Have you ever been trapped by a false breakout? ❤️ Please, support our work with like & comment! ❤️
OANDA:XAUUSDEducation
by UnitedSignals
6
What is Forex and How Big It Is?💱 Forex - foreign exchange market, is a location where international currencies are bought and sold by economic participants at various exchange rates. Forex market is the biggest market in the world, reaching on average 6 trillion dollars trading volumes daily. Forex market is a vital element for a global economy because it provides capital exchanges between the countries. The main market participants of forex market are central banks, commercial banks, commercial companies, hedge funds and investors. 🕰In order to grasp how big is that market, take a look what is happening on that just in 60 seconds: 📎Total transactions value reaches 3.52 billion US dollars. 📎 1.15 billion dollars of spot transactions. 📎 1.65 billion dollar of exchange swaps. 📎 Total transactions value involving USD reaches 3 billion US dollars. 📎 Total transactions value involving EURO reaches 1.1 billion US dollars. 📎 Just one single EUR/USD pair accumulates 812 million US dollars transactions value. It is hard to imagine how such big amounts are rolling with such a frequency and how insignificant are the orders of individual traders. ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
OANDA:XAUUSDEducation
by VasilyTrader
6
Become a better trader by just answering these questions!Hey Traders! Most people think that trading success is found within a system... yet a successful trading system could be something as simple as 2 or 3 basic combinations, knowledge of price action and a sprinkle of instinct. To me successful trading is a completely different path, I believe that real trading success falls into one sentence which is "Constant and never-ending improvement", self-improvement that is, and in today's post, since it is the weekend, I want to go over this core improvement process with you so you too can become a better trader next week! First to make it clear, I believe that out of the 100% required for trading success the system part falls into the low 10%, while the other 90%+ is within you, it is your knowledge, knowhow, instinct, mindset and everything else that makes you... you. The system is something you learn once and all you have to do is follow it forever with consistency and focus, sounds simple right? It kind of is but we humans tend to make it complicated. Anyway, its Saturday the 9th of July and I want to give you 6 questions that if you answer will make you better by at least 1% right away, but if you continue to answer these questions each time you will, guaranteed no matter what (as long as you are honest) get better by 1% each time, how much better you become in entirely up to you, and by that I mean how honest you are and how consistent you are in answering these questions! So, without anymore delays, here are the 6 questions that can make you a better trader: What was my biggest loss and why? What was my biggest profit and how? What was the best thing I did this week? What am I most excited about for the upcoming week? Did I follow my system on every trade? Was I in control of my trading, mentally, every time I traded? BONUS QUESTIONS: What prevented me from doing better? What motivated me most? What will I not repeat next week? What will I repeat next week? What do I want to remember it for? What is the best highlight? What do I regret not doing? Do you have any of your own questions that could help other traders? - Do share in the comments!
BITSTAMP:BTCUSDEducation
by PrimedGroup
TRIPLE TOP PATTERN | Tips on How to Trade it📚 ❗️A triple top is a type of graphical pattern that is used in technical analysis to predict the reversal of an asset's price movement. Consisting of three peaks, the triple top signals that the asset may no longer be growing, and that lower prices are possible. Triple tops can occur on all timeframes, but in order for the model to be considered a triple top, it must occur after an uptrend. The opposite of a triple is a triple bottom, which indicates that the asset price is no longer falling and may rise higher. ✅How the triple vertex works The triple top pattern occurs when the price of an asset creates three peaks at approximately the same price level. The area of peaks is resistance . The pullback between peaks is called the swing minimum . After the third peak, if the price falls below the lows of the fluctuation, the model is considered completed, and traders expect further downward movement. Three consecutive peaks make the triple peak visually similar to the "head and shoulders" pattern; however, in this case, the average peak is almost equal to the other peaks, and not higher. The model is also similar to the double top model, when the price touches the resistance area twice, creating a pair of high points before falling. Triple tops are traded in almost the same way as the "head and shoulders" figures. Let's say the stock price peaks at $119, drops to $110, rises to $119.25, rolls back to $111, rises to $118, then falls below $111, which is a triple top and signals that the stock is probably moving down. ✅The value of the triple vertex Technically, the triple top pattern shows that the price cannot break through the peak area. Translated into real events, this means that after several attempts, the asset cannot find many buyers in this price range. When the price drops, it forces all traders who bought during the pattern to start selling. If the price cannot rise above the resistance, there is limited potential for profit retention. As the price falls below the minimum of the fluctuation of the model, sales may increase as former buyers exit long positions and new traders open short ones. This is the psychology of the model and what helps fuel the sale after its completion. No template works all the time. Sometimes a triple top is formed and completed, which makes traders believe that the asset will continue to fall. But then the price may recover and rise above the resistance area. In order to protect, a trader can place a stop loss on short positions above the last peak or above the recent maximum of the fluctuation within the model. This move limits the risk of a trade if the price does not fall, but instead rises. ✅Trading on Triple Top patterns Some traders open a short position or exit long positions as soon as the asset price falls below the support of the model. The support level of the model is the most recent swing minimum following the second peak, or alternatively, the trader can connect the swing minima between the peaks with the trend line. When the price falls below the trend line, the figure is considered completed and further price decline is expected. To add a confirmation of the model, traders will keep an eye on the large volume when the price falls through the support. The volume should increase, which indicates a strong interest in sales. If the volume does not increase, the model is more prone to failures (the price rises or does not fall as expected). The pattern provides a lower target equal to the height of the pattern subtracted from the breakout point. This goal is approximate. Sometimes the price will fall far below the target, other times it will not reach the target. ⚠️Other technical indicators and graphical models can also be used in combination with the triple top. For example, a trader can watch the bearish crossing of the MACD after the third peak or the exit of the RSI from the overbought zone to confirm the price drop. ❤️ Please, support our work with like & comment! ❤️
OANDA:XAUUSDEducation
by UnitedSignals
5
FIBONACCI TOOL | common reversal levels📊 ⚠️Fibonacci levels are one of the most popular tools for analysis. These are price levels that are located in certain parts of the movement corresponding to the mathematical Fibonacci numbers. ✅What are Fibonacci numbers? 🟢In the XIII century, the famous scientist Leonardo of Pisa lived in the Republic of Pisa – the first major medieval mathematician in Europe. On the cover of one of his most famous works was attributed filius Bonacci (son of Bonacci). Hence the nickname Fibonacci. 🟢The Fibonacci numbers are a sequence of numbers derived from Leonardo's experiment on rabbits. The Pisan mathematician decided to find out how many pairs of rabbits will be in a fenced pen a year after the start of breeding (provided that there will be only one pair in the pen in the first month). In the third month, the cuts began to multiply recurrently – each subsequent number was equal to the sum of the previous two (1, 2, 3, 5, 8, 13, etc.). 🟢If any number from the sequence is divided by the previous one, you get a number tending to 1.61803398875… This number is the "golden ratio". In algebra, such a number is called the Greek letter phi. When dividing any number from the sequence by the following, the inverse of phi 0.618 is obtained. When dividing any number from the sequence by the number following one, 0.382 is obtained. In this form, Fibonacci numbers are much more familiar to traders. ✅Correction levels 🟢Correction (retracement) - movement against an existing trend. The correction "absorbs" part of the trend movement. Of the Fibonacci numbers, 38.2 are mainly used for correction levels (from the previous trend movement), 50%, 61,8%, 78,6%. 🟢Correction levels are based on candle wicks, in other words, on their maximum or minimum points. To build a correction level, you need to find a trend. Fibo levels can be asymmetrical, so it is especially important to pay attention to where the beginning and end of the wave on which the level is being built are located. 🟢On a downtrend, 0% at the bottom, 100% at the top. When ascending, the opposite is true. The most significant correction level is 61.8. When a breakdown of this level occurs, a new trend in the opposite direction usually begins. After that, it is necessary to build a new corrective level. 🟢Correction pattern – movement between minor correction levels. After such a move, the price usually moves to the key level of 61.8. 4 patterns are depending on which levels of correction the price concerns. ❗️Even if the skills of analyzing the state of the market by Fibonacci levels will not be a big advantage in trading, then in any case it is a great (and to some extent integral) experience of technical analysis. Fibo levels can be combined with a footprint, deltas, and other tools. The trader will understand only in practice if it is possible to benefit from this or not. ❤️ Please, support our work with like & comment! ❤️
OANDA:XAUUSDEducation
by UnitedSignals
4
Pine Beginner with Gr8 Script Idea - Script part need helpHi everyone So before you get to excited - this is only the half of an idea which needs some Pine Scripting polish before I would classify this idea as one to take note of. With that said, if there's someone reading this that is willing to amend the code of my poor attempt to combine 3 scripts together in to 1 rather successful (potentially) algo/auto-trading script which was initially intended to place trades on MT5 for those who are either stuck, to far tied-in or simply stubborn enough to continue using a broker/s that are not listed on TradingView's list of verified brokers. I must add that I honestly think this script has the potential to be one hellofa successful strategy for any trader who is considering or attempting to learn this fascinating and exciting coding language that can either leave you more confused than blind deaf old man at a psychedelic's rave OR open up a whole new approach of trading that was previously unfathomable yet now with each unique scripts encounter becoming unquestionably clearer that traders who embrace this path can only empower their trading potentials. I think if more opportunistic scripts like this one (once correctly coded by someone who is not as much a rookie as I am - at Pine Script coding not trading) along with some helpful guidelines for traders who have not discovered the wonders that TradingView has to offer any/all traders - that these "aha" types of doorways will be easily flooded with new interest evoked traders to the TradingView world. But that's just one traders opinion who is looking towards putting this somewhat overly thought concept to test/s and I welcome any of you who wish to do the same, particularly in terms of trying to make heads or tails of my script that in theory makes perfect sense in my mind by using well known trading concepts by those who don't necessarily need to know how to code them in order to use them. However, in this specific case, the knowledge of how to code them has been given the centre front spotlight so feel free to take your shot in it's lime light if you wish. I would most definitely appreciate it and I'm sure you would benefit from the final scripts results as well. Thanks to any and all who give it a go. // Here's the script that I feel is best to share - there is a more recent updated version, however, I feel that my scripting skills or lack of may have made that version a great deal more confusing and messy than what this version below is. Hopefully you can see where Im trying to go with it. If not, please don't hesitate to ask and I'll do my best to try clarify where needed. // //@version=4 // // Thanks to dynausmaux falconCoin LazyBear RicardoSantos LucemAnb andreholanda73 for all the scripts I'm using here. // Special thanks to TradingView for unarguably the best trading platform in the world that facilitates development and learning. // Before I begin, TAKE NOTE: I'm not an expert trader or pine script coder as such and all the code used here is copied and/or modified from scripts freely found that are published through TradingView. // // // For those of you who actually do look in to the code behind scripts they come accross - here's logic behind all the colorful shapes all over your charts. // // CIRCLES & TRIANGLES: // - LITTLE CIRCLE: They appear at all WaveTrend wave crossings. // - GREEN CIRCLE: The wavetrend waves are at the oversold level and have crossed up (bullish). // - RED CIRCLE: The wavetrend waves are at the overbought level and have crossed down (bearish). // - GOLD/ORANGE CIRCLE: When RSI is below 20, WaveTrend waves are below or equal to -80 and have crossed up after good bullish divergence (DONT BUY WHEN GOLD CIRCLE APPEAR). // - None of these circles are certain signs to trade. It is only information that can help you. // - PURPLE TRIANGLE: Appear when a bullish or bearish divergence is formed and WaveTrend waves crosses at overbought and oversold points. // // +BEARS/BULLS FLAG: // - MFI+RSI Area are RED (Below 0). // - Wavetrend wave above 0 and crossing over down. // - VWAP Area below 0 on higher timeframe. // - This pattern reversed becomes bullish. // +SIDE NOTE: Check the last heikinashi candle from 2 higher timeframe // - Bearish/Bullish DIAMOND: // -- HT Candle is red // -- WT > 0 and crossed down study(title = 'VuManChu B Divergences', shorttitle = 'VuMan CBD') // PARAMETERS { // WaveTrend wtShow = input(true, title = 'Show WaveTrend', type = input.bool) wtBuyShow = input(true, title = 'Show Buy dots', type = input.bool) wtGoldShow = input(true, title = 'Show Gold dots', type = input.bool) wtSellShow = input(true, title = 'Show Sell dots', type = input.bool) wtDivShow = input(true, title = 'Show Div. dots', type = input.bool) vwapShow = input(true, title = 'Show Fast WT', type = input.bool) wtChannelLen = input(9, title = 'WT Channel Length', type = input.integer) wtAverageLen = input(12, title = 'WT Average Length', type = input.integer) wtMASource = input(hlc3, title = 'WT MA Source', type = input.source) wtMALen = input(3, title = 'WT MA Length', type = input.integer) // WaveTrend Overbought & Oversold lines obLevel = input(53, title = 'WT Overbought Level 1', type = input.integer) obLevel2 = input(60, title = 'WT Overbought Level 2', type = input.integer) obLevel3 = input(100, title = 'WT Overbought Level 3', type = input.integer) osLevel = input(-53, title = 'WT Oversold Level 1', type = input.integer) osLevel2 = input(-60, title = 'WT Oversold Level 2', type = input.integer) osLevel3 = input(-75, title = 'WT Oversold Level 3', type = input.integer) // Divergence WT wtShowDiv = input(true, title = 'Show WT Regular Divergences', type = input.bool) wtShowHiddenDiv = input(false, title = 'Show WT Hidden Divergences', type = input.bool) showHiddenDiv_nl = input(true, title = 'Not apply OB/OS Limits on Hidden Divergences', type = input.bool) wtDivOBLevel = input(45, title = 'WT Bearish Divergence min', type = input.integer) wtDivOSLevel = input(-65, title = 'WT Bullish Divergence min', type = input.integer) // Divergence extra range wtDivOBLevel_addshow = input(true, title = 'Show 2nd WT Regular Divergences', type = input.bool) wtDivOBLevel_add = input(15, title = 'WT 2nd Bearish Divergence', type = input.integer) wtDivOSLevel_add = input(-40, title = 'WT 2nd Bullish Divergence 15 min', type = input.integer) // RSI+MFI rsiMFIShow = input(true, title = 'Show MFI', type = input.bool) rsiMFIperiod = input(60,title = 'MFI Period', type = input.integer) rsiMFIMultiplier = input(150, title = 'MFI Area multiplier', type = input.float) rsiMFIPosY = input(2.5, title = 'MFI Area Y Pos', type = input.float) // RSI rsiShow = input(false, title = 'Show RSI', type = input.bool) rsiSRC = input(close, title = 'RSI Source', type = input.source) rsiLen = input(14, title = 'RSI Length', type = input.integer) rsiOversold = input(30, title = 'RSI Oversold', minval = 50, maxval = 100, type = input.integer) rsiOverbought = input(60, title = 'RSI Overbought', minval = 0, maxval = 50, type = input.integer) // Divergence RSI rsiShowDiv = input(false, title = 'Show RSI Regular Divergences', type = input.bool) rsiShowHiddenDiv = input(false, title = 'Show RSI Hidden Divergences', type = input.bool) rsiDivOBLevel = input(60, title = 'RSI Bearish Divergence min', type = input.integer) rsiDivOSLevel = input(30, title = 'RSI Bullish Divergence min', type = input.integer) // RSI Stochastic stochShow = input(true, title = 'Show Stochastic RSI', type = input.bool) stochUseLog = input(true, title=' Use Log?', type = input.bool) stochAvg = input(false, title='Use Average of both K & D', type = input.bool) stochSRC = input(close, title = 'Stochastic RSI Source', type = input.source) stochLen = input(14, title = 'Stochastic RSI Length', type = input.integer) stochRsiLen = input(14, title = 'RSI Length ', type = input.integer) stochKSmooth = input(3, title = 'Stochastic RSI K Smooth', type = input.integer) stochDSmooth = input(3, title = 'Stochastic RSI D Smooth', type = input.integer) // Divergence stoch stochShowDiv = input(false, title = 'Show Stoch Regular Divergences', type = input.bool) stochShowHiddenDiv = input(false, title = 'Show Stoch Hidden Divergences', type = input.bool) // Schaff Trend Cycle tcLine = input(false, title="Show Schaff TC line", type=input.bool) tcSRC = input(close, title = 'Schaff TC Source', type = input.source) tclength = input(10, title="Schaff TC", type=input.integer) tcfastLength = input(23, title="Schaff TC Fast Lenght", type=input.integer) tcslowLength = input(50, title="Schaff TC Slow Length", type=input.integer) tcfactor = input(0.5, title="Schaff TC Factor", type=input.float) // Sommi Flag sommiFlagShow = input(false, title = 'Show Sommi flag', type = input.bool) sommiShowVwap = input(false, title = 'Show Sommi F. Wave', type = input.bool) sommiVwapTF = input('720', title = 'Sommi F. Wave timeframe', type = input.string) sommiVwapBearLevel = input(0, title = 'F. Wave Bear Level (less than)', type = input.integer) sommiVwapBullLevel = input(0, title = 'F. Wave Bull Level (more than)', type = input.integer) soomiFlagWTBearLevel = input(0, title = 'WT Bear Level (more than)', type = input.integer) soomiFlagWTBullLevel = input(0, title = 'WT Bull Level (less than)', type = input.integer) soomiRSIMFIBearLevel = input(0, title = 'Money flow Bear Level (less than)', type = input.integer) soomiRSIMFIBullLevel = input(0, title = 'Money flow Bull Level (more than)', type = input.integer) // Sommi Diamond sommiDiamondShow = input(false, title = 'Show Sommi diamond', type = input.bool) sommiHTCRes = input('60', title = 'HTF Candle Res. 1', type = input.string) sommiHTCRes2 = input('240', title = 'HTF Candle Res. 2', type = input.string) soomiDiamondWTBearLevel = input(0, title = 'WT Bear Level (More than)', type = input.integer) soomiDiamondWTBullLevel = input(0, title = 'WT Bull Level (Less than)', type = input.integer) // macd Colors macdWTColorsShow = input(false, title = 'Show MACD Colors', type = input.bool) macdWTColorsTF = input('240', title = 'MACD Colors MACD TF', type = input.string) darkMode = input(false, title = 'Dark mode', type = input.bool) // Colors colorRed = #ff0000 colorPurple = #e600e6 colorGreen = #3fff00 colorOrange = #e2a400 colorYellow = #ffe500 colorWhite = #ffffff colorPink = #ff00f0 colorBluelight = #31c0ff colorWT1 = #90caf9 colorWT2 = #0d47a1 colorWT2_ = #131722 colormacdWT1a = #4caf58 colormacdWT1b = #af4c4c colormacdWT1c = #7ee57e colormacdWT1d = #ff3535 colormacdWT2a = #305630 colormacdWT2b = #310101 colormacdWT2c = #132213 colormacdWT2d = #770000 // } PARAMETERS // FUNCTIONS { // Divergences f_top_fractal(src) => src < src and src < src and src > src and src > src f_bot_fractal(src) => src > src and src > src and src < src and src < src f_fractalize(src) => f_top_fractal(src) ? 1 : f_bot_fractal(src) ? -1 : 0 f_findDivs(src, topLimit, botLimit, useLimits) => fractalTop = f_fractalize(src) > 0 and (useLimits ? src >= topLimit : true) ? src : na fractalBot = f_fractalize(src) < 0 and (useLimits ? src <= botLimit : true) ? src : na highPrev = valuewhen(fractalTop, src , 0) highPrice = valuewhen(fractalTop, high , 0) lowPrev = valuewhen(fractalBot, src , 0) lowPrice = valuewhen(fractalBot, low , 0) bearSignal = fractalTop and high > highPrice and src < highPrev bullSignal = fractalBot and low < lowPrice and src > lowPrev bearDivHidden = fractalTop and high < highPrice and src > highPrev bullDivHidden = fractalBot and low > lowPrice and src < lowPrev // RSI+MFI f_rsimfi(_period, _multiplier, _tf) => security(syminfo.tickerid, _tf, sma(((close - open) / (high - low)) * _multiplier, _period) - rsiMFIPosY) // WaveTrend f_wavetrend(src, chlen, avg, malen, tf) => tfsrc = security(syminfo.tickerid, tf, src) esa = ema(tfsrc, chlen) de = ema(abs(tfsrc - esa), chlen) ci = (tfsrc - esa) / (0.015 * de) wt1 = security(syminfo.tickerid, tf, ema(ci, avg)) wt2 = security(syminfo.tickerid, tf, sma(wt1, malen)) wtVwap = wt1 - wt2 wtOversold = wt2 <= osLevel wtOverbought = wt2 >= obLevel wtCross = cross(wt1, wt2) wtCrossUp = wt2 - wt1 <= 0 wtCrossDown = wt2 - wt1 >= 0 wtCrosslast = cross(wt1 , wt2 ) wtCrossUplast = wt2 - wt1 <= 0 wtCrossDownlast = wt2 - wt1 >= 0 // Schaff Trend Cycle f_tc(src, length, fastLength, slowLength) => ema1 = ema(src, fastLength) ema2 = ema(src, slowLength) macdVal = ema1 - ema2 alpha = lowest(macdVal, length) beta = highest(macdVal, length) - alpha gamma = (macdVal - alpha) / beta * 100 gamma := beta > 0 ? gamma : nz(gamma ) delta = gamma delta := na(delta ) ? delta : delta + tcfactor * (gamma - delta ) epsilon = lowest(delta, length) zeta = highest(delta, length) - epsilon eta = (delta - epsilon) / zeta * 100 eta := zeta > 0 ? eta : nz(eta ) stcReturn = eta stcReturn := na(stcReturn ) ? stcReturn : stcReturn + tcfactor * (eta - stcReturn ) stcReturn // Stochastic RSI f_stochrsi(_src, _stochlen, _rsilen, _smoothk, _smoothd, _log, _avg) => src = _log ? log(_src) : _src rsi = rsi(src, _rsilen) kk = sma(stoch(rsi, rsi, rsi, _stochlen), _smoothk) d1 = sma(kk, _smoothd) avg_1 = avg(kk, d1) k = _avg ? avg_1 : kk // MACD f_macd(src, fastlen, slowlen, sigsmooth, tf) => fast_ma = security(syminfo.tickerid, tf, ema(src, fastlen)) slow_ma = security(syminfo.tickerid, tf, ema(src, slowlen)) macd = fast_ma - slow_ma, signal = security(syminfo.tickerid, tf, sma(macd, sigsmooth)) hist = macd - signal // MACD Colors on WT f_macdWTColors(tf) => hrsimfi = f_rsimfi(rsiMFIperiod, rsiMFIMultiplier, tf) = f_macd(close, 28, 42, 9, macdWTColorsTF) macdup = macd >= signal macddown = macd <= signal macdWT1Color = macdup ? hrsimfi > 0 ? colormacdWT1c : colormacdWT1a : macddown ? hrsimfi < 0 ? colormacdWT1d : colormacdWT1b : na macdWT2Color = macdup ? hrsimfi < 0 ? colormacdWT2c : colormacdWT2a : macddown ? hrsimfi < 0 ? colormacdWT2d : colormacdWT2b : na // Get higher timeframe candle f_getTFCandle(_tf) => _open = security(heikinashi(syminfo.tickerid), _tf, open, barmerge.gaps_off, barmerge.lookahead_on) _close = security(heikinashi(syminfo.tickerid), _tf, close, barmerge.gaps_off, barmerge.lookahead_on) _high = security(heikinashi(syminfo.tickerid), _tf, high, barmerge.gaps_off, barmerge.lookahead_on) _low = security(heikinashi(syminfo.tickerid), _tf, low, barmerge.gaps_off, barmerge.lookahead_on) hl2 = (_high + _low) / 2.0 newBar = change(_open) candleBodyDir = _close > _open // Sommi flag f_findSommiFlag(tf, wt1, wt2, rsimfi, wtCross, wtCrossUp, wtCrossDown) => = f_wavetrend(wtMASource, wtChannelLen, wtAverageLen, wtMALen, tf) bearPattern = rsimfi < soomiRSIMFIBearLevel and wt2 > soomiFlagWTBearLevel and wtCross and wtCrossDown and hwtVwap < sommiVwapBearLevel bullPattern = rsimfi > soomiRSIMFIBullLevel and wt2 < soomiFlagWTBullLevel and wtCross and wtCrossUp and hwtVwap > sommiVwapBullLevel f_findSommiDiamond(tf, tf2, wt1, wt2, wtCross, wtCrossUp, wtCrossDown) => = f_getTFCandle(tf) = f_getTFCandle(tf2) bearPattern = wt2 >= soomiDiamondWTBearLevel and wtCross and wtCrossDown and not candleBodyDir and not candleBodyDir2 bullPattern = wt2 <= soomiDiamondWTBullLevel and wtCross and wtCrossUp and candleBodyDir and candleBodyDir2 // } FUNCTIONS // CALCULATE INDICATORS { // RSI rsi = rsi(rsiSRC, rsiLen) rsiColor = rsi <= rsiOversold ? colorGreen : rsi >= rsiOverbought ? colorRed : colorPurple // RSI + MFI Area rsiMFI = f_rsimfi(rsiMFIperiod, rsiMFIMultiplier, timeframe.period) rsiMFIColor = rsiMFI > 0 ? #3ee145 : #ff3d2e // Calculates WaveTrend = f_wavetrend(wtMASource, wtChannelLen, wtAverageLen, wtMALen, timeframe.period) // Stochastic RSI = f_stochrsi(stochSRC, stochLen, stochRsiLen, stochKSmooth, stochDSmooth, stochUseLog, stochAvg) // Schaff Trend Cycle tcVal = f_tc(tcSRC, tclength, tcfastLength, tcslowLength) // Sommi flag = f_findSommiFlag(sommiVwapTF, wt1, wt2, rsiMFI, wtCross, wtCrossUp, wtCrossDown) //Sommi diamond = f_findSommiDiamond(sommiHTCRes, sommiHTCRes2, wt1, wt2, wtCross, wtCrossUp, wtCrossDown) // macd colors = f_macdWTColors(macdWTColorsTF) // WT Divergences = f_findDivs(wt2, wtDivOBLevel, wtDivOSLevel, true) = f_findDivs(wt2, wtDivOBLevel_add, wtDivOSLevel_add, true) = f_findDivs(wt2, 0, 0, false) wtBearDivHidden_ = showHiddenDiv_nl ? wtBearDivHidden_nl : wtBearDivHidden wtBullDivHidden_ = showHiddenDiv_nl ? wtBullDivHidden_nl : wtBullDivHidden wtBearDivColor = (wtShowDiv and wtBearDiv) or (wtShowHiddenDiv and wtBearDivHidden_) ? colorRed : na wtBullDivColor = (wtShowDiv and wtBullDiv) or (wtShowHiddenDiv and wtBullDivHidden_) ? colorGreen : na wtBearDivColor_add = (wtShowDiv and (wtDivOBLevel_addshow and wtBearDiv_add)) or (wtShowHiddenDiv and (wtDivOBLevel_addshow and wtBearDivHidden_add)) ? #9a0202 : na wtBullDivColor_add = (wtShowDiv and (wtDivOBLevel_addshow and wtBullDiv_add)) or (wtShowHiddenDiv and (wtDivOBLevel_addshow and wtBullDivHidden_add)) ? #1b5e20 : na // RSI Divergences = f_findDivs(rsi, rsiDivOBLevel, rsiDivOSLevel, true) = f_findDivs(rsi, 0, 0, false) rsiBearDivHidden_ = showHiddenDiv_nl ? rsiBearDivHidden_nl : rsiBearDivHidden rsiBullDivHidden_ = showHiddenDiv_nl ? rsiBullDivHidden_nl : rsiBullDivHidden rsiBearDivColor = (rsiShowDiv and rsiBearDiv) or (rsiShowHiddenDiv and rsiBearDivHidden_) ? colorRed : na rsiBullDivColor = (rsiShowDiv and rsiBullDiv) or (rsiShowHiddenDiv and rsiBullDivHidden_) ? colorGreen : na // Stoch Divergences = f_findDivs(stochK, 0, 0, false) stochBearDivColor = (stochShowDiv and stochBearDiv) or (stochShowHiddenDiv and stochBearDivHidden) ? colorRed : na stochBullDivColor = (stochShowDiv and stochBullDiv) or (stochShowHiddenDiv and stochBullDivHidden) ? colorGreen : na // Small Circles WT Cross signalColor = wt2 - wt1 > 0 ? color.red : color.lime // Buy signal. buySignal = wtCross and wtCrossUp and wtOversold buySignalDiv = (wtShowDiv and wtBullDiv) or (wtShowDiv and wtBullDiv_add) or (stochShowDiv and stochBullDiv) or (rsiShowDiv and rsiBullDiv) buySignalDiv_color = wtBullDiv ? colorGreen : wtBullDiv_add ? color.new(colorGreen, 60) : rsiShowDiv ? colorGreen : na // Sell signal sellSignal = wtCross and wtCrossDown and wtOverbought sellSignalDiv = (wtShowDiv and wtBearDiv) or (wtShowDiv and wtBearDiv_add) or (stochShowDiv and stochBearDiv) or (rsiShowDiv and rsiBearDiv) sellSignalDiv_color = wtBearDiv ? colorRed : wtBearDiv_add ? color.new(colorRed, 60) : rsiBearDiv ? colorRed : na // Gold Buy lastRsi = valuewhen(wtFractalBot, rsi , 0) wtGoldBuy = ((wtShowDiv and wtBullDiv) or (rsiShowDiv and rsiBullDiv)) and wtLow_prev <= osLevel3 and wt2 > osLevel3 and wtLow_prev - wt2 <= -5 and lastRsi < 30 // } CALCULATE INDICATORS // DRAW { bgcolor(darkMode ? color.new(#000000, 80) : na) zLine = plot(0, color = color.new(colorWhite, 50)) // MFI BAR rsiMfiBarTopLine = plot(rsiMFIShow ? -95 : na, title = 'MFI Bar TOP Line', transp = 100) rsiMfiBarBottomLine = plot(rsiMFIShow ? -99 : na, title = 'MFI Bar BOTTOM Line', transp = 100) fill(rsiMfiBarTopLine, rsiMfiBarBottomLine, title = 'MFI Bar Colors', color = rsiMFIColor, transp = 75) // WT Areas plot(wtShow ? wt1 : na, style = plot.style_area, title = 'WT Wave 1', color = macdWTColorsShow ? macdWT1Color : colorWT1, transp = 0) plot(wtShow ? wt2 : na, style = plot.style_area, title = 'WT Wave 2', color = macdWTColorsShow ? macdWT2Color : darkMode ? colorWT2_ : colorWT2 , transp = 20) // VWAP plot(vwapShow ? wtVwap : na, title = 'VWAP', color = colorYellow, style = plot.style_area, linewidth = 2, transp = 45) // MFI AREA rsiMFIplot = plot(rsiMFIShow ? rsiMFI: na, title = 'RSI+MFI Area', color = rsiMFIColor, transp = 20) fill(rsiMFIplot, zLine, rsiMFIColor, transp = 40) // WT Div plot(series = wtFractalTop ? wt2 : na, title = 'WT Bearish Divergence', color = wtBearDivColor, linewidth = 2, offset = -2) plot(series = wtFractalBot ? wt2 : na, title = 'WT Bullish Divergence', color = wtBullDivColor, linewidth = 2, offset = -2) // WT 2nd Div plot(series = wtFractalTop_add ? wt2 : na, title = 'WT 2nd Bearish Divergence', color = wtBearDivColor_add, linewidth = 2, offset = -2) plot(series = wtFractalBot_add ? wt2 : na, title = 'WT 2nd Bullish Divergence', color = wtBullDivColor_add, linewidth = 2, offset = -2) // RSI plot(rsiShow ? rsi : na, title = 'RSI', color = rsiColor, linewidth = 2, transp = 25) // RSI Div plot(series = rsiFractalTop ? rsi : na, title='RSI Bearish Divergence', color = rsiBearDivColor, linewidth = 1, offset = -2) plot(series = rsiFractalBot ? rsi : na, title='RSI Bullish Divergence', color = rsiBullDivColor, linewidth = 1, offset = -2) // Stochastic RSI stochKplot = plot(stochShow ? stochK : na, title = 'Stoch K', color = color.new(#21baf3, 0), linewidth = 2) stochDplot = plot(stochShow ? stochD : na, title = 'Stoch D', color = color.new(#673ab7, 60), linewidth = 1) stochFillColor = stochK >= stochD ? color.new(#21baf3, 75) : color.new(#673ab7, 60) fill(stochKplot, stochDplot, title='KD Fill', color=stochFillColor) // Stoch Div plot(series = stochFractalTop ? stochK : na, title='Stoch Bearish Divergence', color = stochBearDivColor, linewidth = 1, offset = -2) plot(series = stochFractalBot ? stochK : na, title='Stoch Bullish Divergence', color = stochBullDivColor, linewidth = 1, offset = -2) // Schaff Trend Cycle plot(tcLine ? tcVal : na, color = color.new(#673ab7, 25), linewidth = 2, title = "Schaff Trend Cycle 1") plot(tcLine ? tcVal : na, color = color.new(colorWhite, 50), linewidth = 1, title = "Schaff Trend Cycle 2") // Draw Overbought & Oversold lines //plot(obLevel, title = 'Over Bought Level 1', color = colorWhite, linewidth = 1, style = plot.style_circles, transp = 85) plot(obLevel2, title = 'Over Bought Level 2', color = colorWhite, linewidth = 1, style = plot.style_stepline, transp = 85) plot(obLevel3, title = 'Over Bought Level 3', color = colorWhite, linewidth = 1, style = plot.style_circles, transp = 95) //plot(osLevel, title = 'Over Sold Level 1', color = colorWhite, linewidth = 1, style = plot.style_circles, transp = 85) plot(osLevel2, title = 'Over Sold Level 2', color = colorWhite, linewidth = 1, style = plot.style_stepline, transp = 85) // Sommi flag plotchar(sommiFlagShow and sommiBearish ? 108 : na, title = 'Sommi bearish flag', char='⚑', color = colorPink, location = location.absolute, size = size.tiny, transp = 0) plotchar(sommiFlagShow and sommiBullish ? -108 : na, title = 'Sommi bullish flag', char='⚑', color = colorBluelight, location = location.absolute, size = size.tiny, transp = 0) plot(sommiShowVwap ? ema(hvwap, 3) : na, title = 'Sommi higher VWAP', color = colorYellow, linewidth = 2, style = plot.style_line, transp = 15) // Sommi diamond plotchar(sommiDiamondShow and sommiBearishDiamond ? 108 : na, title = 'Sommi bearish diamond', char='◆', color = colorPink, location = location.absolute, size = size.tiny, transp = 0) plotchar(sommiDiamondShow and sommiBullishDiamond ? -108 : na, title = 'Sommi bullish diamond', char='◆', color = colorBluelight, location = location.absolute, size = size.tiny, transp = 0) // Circles plot(wtCross ? wt2 : na, title = 'Buy and sell circle', color = signalColor, style = plot.style_circles, linewidth = 3, transp = 15) plotchar(wtBuyShow and buySignal ? -107 : na, title = 'Buy circle', char='·', color = colorGreen, location = location.absolute, size = size.small, transp = 50) plotchar(wtSellShow and sellSignal ? 105 : na , title = 'Sell circle', char='·', color = colorRed, location = location.absolute, size = size.small, transp = 50) plotchar(wtDivShow and buySignalDiv ? -106 : na, title = 'Divergence buy circle', char='•', color = buySignalDiv_color, location = location.absolute, size = size.small, offset = -2, transp = 15) plotchar(wtDivShow and sellSignalDiv ? 106 : na, title = 'Divergence sell circle', char='•', color = sellSignalDiv_color, location = location.absolute, size = size.small, offset = -2, transp = 15) plotchar(wtGoldBuy and wtGoldShow ? -106 : na, title = 'Gold buy gold circle', char='•', color = colorOrange, location = location.absolute, size = size.small, offset = -2, transp = 15) // } DRAW // ALERTS { // BUY alertcondition(buySignal, 'Buy (Big green circle)', 'Green circle WaveTrend Oversold') alertcondition(buySignalDiv, 'Buy (Big green circle + Div)', 'Buy & WT Bullish Divergence & WT Overbought') alertcondition(wtGoldBuy, 'GOLD Buy (Big GOLDEN circle)', 'Green & GOLD circle WaveTrend Overbought') alertcondition(sommiBullish or sommiBullishDiamond, 'Sommi bullish flag/diamond', 'Blue flag/diamond') alertcondition(wtCross and wtCrossUp, 'Buy (Small green dot)', 'Buy small circle') // SELL alertcondition(sommiBearish or sommiBearishDiamond, 'Sommi bearish flag/diamond', 'Purple flag/diamond') alertcondition(sellSignal, 'Sell (Big red circle)', 'Red Circle WaveTrend Overbought') alertcondition(sellSignalDiv, 'Sell (Big red circle + Div)', 'Buy & WT Bearish Divergence & WT Overbought') alertcondition(wtCross and wtCrossDown, 'Sell (Small red dot)', 'Sell small circle') // } ALERTS
OANDA:XAUUSDLong
by Y2K_B
3 Types of Charts You Must Know 📈 Hey traders, In this post, we will discuss 3 most popular types of charts. We will discuss the advantages and disadvantages of each one, and you will decide what type is the most appropriate for you. 📈Line Chart. Line chart is the most common chart applied by analysts. Reading financial articles in different news outlets, I noticed that most of the time the authors apply line chart for the data representation. On a price chart, the only parameter that the one can set is a time period. Time period will define a time of a security closing price. The security closing prices overtime will serve as ​data points. These points will be connected with a continuous line. Line charts are applied for displaying an asset's price history, reducing the noise from less volatile times. Being simplistic, they can provide a general picture and market sentiment. However, they are considered to be insufficient for pattern recognition and in depth analysis. 📏Range Bar Chart. In contrast to a line chart, a range bar chart does not consider time horizon. The only parameter that the one can set is a price range. By the range, I mean a price interval where the price moves. A new bar will be formed only once the prices passes the desired range. Such a chart allows to completely ignore time variable focusing only on price movement and hence reducing the market noise. The chart will plot new bars only when the market is volatile, and it will stagnate while the market is weak and consolidating. Accurately setting a desired price range, one can get multiple insights analyzing a range bar chart. 🕯Candlestick Chart. The most popular chart among technicians and my personal favorite. With just one single parameter - time period, the chart plots candlesticks. Each candlestick is formed as a desired time period passes. It contains an information about the opening price level, closing price, high and low of a selected time period. Candlestick chart is applied for pattern recognition and in-depth analysis. Its study unveils the behavior of the market participants and their actions at a desired time period. Of course, each chart has its own pluses and minuses. Choosing its type, you should know exactly what information do you want to derive from the chart. What chart type do you prefer? ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
OANDA:XAUUSDEducation
by VasilyTrader
12
Improve your trading skills with PTAHey Traders! In this video we talk about Post Trade Analysis which we believe it probably the best way to develop your trading skills, trading system and general instinct of trading. Today we traded the DAX for 2 hours with complete focus, focus is a vital requirement for trading success as it allows you to be present and disciplined to follow your trading rules and system. The video explains some things we did good and some things we did bad, of-course the good should be repeated in the next trading session, the bad either improved or removed! Do you do post trade analysis? - Let us know in the comment section below! Have a fab day!
OANDA:DE30EUREducation
by PrimedGroup
Don't let the dopamine get you 🥴Do you feel excited? 😅 This is why. It's all down to the chemical reaction in your brain. Dopamine. Dopamine is a chemical in the brain that makes us feel good. Should you be feeling excited when trading?🤔 No.🙈 As this isn't gambling and shouldn't give you the same dopamine rushes like a gambling win does. What's starts as initial excitement will move to fear, anxiety, stress and excitement again. 🤷🏻‍♂️ You become irrational and unable to stick to your plan.🤯 Entering trades through boredom for the 'rush' and closing profitable trades too early because of fear of the profit disappearing - all because you risked too much for that 'buzz'. 'So what can I do about it?' I hear you shout loudly....📢 Well this depends on if you really want to change or not, the downside is you'll think you will make less money .... Think about it - you have a £5000 account right? Option 1 - you trade 15 pairs at 0.5 lot size and your account is up and down like a yo yo - but it's exciting right? Option 2 - you trade 3 pairs at 0.01 - your account movement is marginal. Option 2 is less exciting for sure, but if you want excitement go and jump out of plane. Option 1 will eventually lead to a blown account. Option 2 will give you sustainable consistent trading - you'll let your winners run and you'll lose less on the losing trades. A win win. Only when you get this bit right will you start to see positive change. Emotional control is key Be present doing other things without checking your phone to see how trades are going. Exercise patience by sticking to your plan and letting your trades run instead of closing them early. The only thing you can control in trading is YOU Just don't end up letting the dopamine take control! Have a good weekend everyone and thanks for looking Darren👍
Education
by pow_removetheguesswork
5