---> The screenshot was ETH Perp, 1H, from 28th June to 13th of July.
a) First, limited access to indicator for free users.
Sorry for being poor, but I have to resort to this.
Some videos in youtube shows how you can click the same indicator multiple times, in order to utilize them to read the chart.
Like adding multiple EMA from public library. But doing that actually take two slot of your free indicator slot.
So, as poor as I sounds, there is free public indicator that combine or have multiple indicator in them. Like the one in my
screenshot, I used the multiple EMA + bollinger bands included.
I do think I need to adjust the BB, but I still don't understand which values is the best, so I stick with the current one.
This saves me EMA + EMA + EMA + BB = 4 slot already!
As I prefer to be able to tell something from just looking at the chart directly, so my design is all three free indicator slot is
viewable, but need to be quite transparent and distinguishable too. Sometimes the free public indicator can be save as another
template with different colors and designs, I just stick to Save as default.
b) Some free indicator is good!
Yes, there is no truly one indicator for all, but this Magic Lines VWAP / FOR SALE indicator is to me, is awesome.
I previously used MACD to read incoming uptrend or downtrend, because I watched the youtube tries 100x MACD and seeing
the winning rate is awesome, I stuck with MACD all the time. Until the market rekt me. Oh, this lagging indicator is truly live up
it's name eh?
So, I explore multiple public ones after heard the VWAP concept. It's too bad if you think VWAP is for smaller time frames, but if
there is VWAP for ALL time frames, that is awesome.
So, as from the screenshot, that MAGIC LINES VWAP is already edited just to show,
i- blue flexible lines is showing uptrend. A VWAP uptrend. As VWAP basically didn't change it's shape at all, this is great.
ii- pink flexible lines that connected with the blue line show downtrend. Also a VWAP downtrend.
iii- the blue plusses or pink plusses indicated "the best starting" entry for either long or short.
So form that free indicator alone, instead of me waiting for MACD crossing, VWAP just directly shows me this stuff already.
Even this is also good for swing trade. (Oh how I envy the ChartChampion thousands of precentage win).
Yes, there is an option just by using the heikin ashi candle, it's also serve the same uptrend and downtrend. But you know
right heikin ashi is just cosmetic right? Just an average ones right? (Sorry bad puns, I'll get myself out after finishing this).
c) The free MAGIC VWAP combines with EMAs crossing, it helps to read the chart.
i- Usually, when EMAs are under 200 EMA, it is downtrend. I purposely make 200 EMA as an area instead of line is too always
easily read at a glance whether we are in downtrend or uptrend. As long EMA 7 and 20 still inside the 200 area, it's still
going down. The further the downtrend it is. The closer, we can see the reversal thing, but wait the market to decide this.
ii- There is one youtuber video about riding the EMA lines, I can't remember. Say, on July 8th in screenshot, you enter at that
point, how do you know it's time to stop? You ride the EMA until it cross itself (the 7 and 20 ones). Remember, riding the
wave we get you pullback/retracement, so don't close your position too early, be patient and be calm.
When to stop? I'm not an expert about this, to me either you satisfy with your percentage or crossing appears.
Oh, before I forget, always and ALWAYS draw your 4H current resistance and support. The outermost range. The mini ones
like in the screenshot is any resistance or support that happens between the outermost 4h resistance and support range.
Make sure to touch as many as you can form the candle open/close and extend that range to the longest wick/shadow.
d) Bollinger band and Volume profile.
I'm still learning about this, but my prediction from this screenshot is the candle will come to the middle BB, and later going
downtrend back. And there is a free Volume profile indicator. (Oh how I wish I got money even for the Pro plan. Hmmmmm....)
Volume profile is interesting. Free indicator didn't show whether buying pressure is higher or selling pressure is higher, but we
can decipher is the trend is still going down or up. The highest in volume profile shows the current support or resistance range
there.
The key level/daily level or whatnot is got from youtube. Still I cannot afford their best membership, it's just I'm trying
to decipher the mentality the intelligence the psychology that they have. Maybe discovering there is free indicator that can
help free user too. Definitely joined after I can afford.
To conclude, TradingView is the best! And I'm sorry for my English. Writing this piece is meant to help me remember because
sometimes I forgot what some indicators do and to inspire or help other free user out there. It's not one month free trial is bad,
just it's not enough. And I think if I want to use that free trial, it's when I really really needs to. Don't you think it's tiring to
create multiple emails just to get the free stuff? Nope. I don't like that idea. If I can afford it, I will do it.
It helps support this free service that I love too.
Thank you so much for your time, you understanding of this, thank you very much for coming to my Ted-TradingView-Talk.
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