Exploring New Indicators for Day Trading
Transcript
Auto-generated from the video audio — expect imperfect punctuation.
What’s going on guys so I’m coming to you midday um I started using these two indicators and like always I am transparent with what I use people constantly ask me what I use so um yeah I mean this is two indicators I was playing around with one is zero lag macd and this is uh the bottom one is uh wada it’s uh this one by lazy bear I’ve used some of his scripts before pretty good stuff um yeah I mean basically
Uh I was just using it to get in trades and kind of stay in trades and ride uh the momentum up and I typically look at the F minute chart here uh I took a trade today that um that bounced right off of oh where oh right here this pivot point it was off of vwap right here and normally I would have just you know say I got in like I got in really really good I probably got in like 175
I normally would take like you know 10 points and be out um but I was actually looking at this on the one at the time which I’m playing around with the script on both actually and the one at the time see it shows that it’s green so green was you know it’s obviously uh starting to Trend up and then uh yeah so when I got in super low I was like you know what the red line which is the one you
Want to follow on this script I believe is so once that really broke above of the others I stayed in this trade I I mean I stayed in this trade until right around here with a purple circle um also it was coming up to 18200 but I got like double the amount of profit that I would have got off this all because I stayed in using um using this indicator um I’m toying with the idea of the one or the five
The five is obviously on the you know a longer term play you know I’m just looking like here’s where it lines up for the green this is where you know lined up for the red you know for a cell I don’t really know what I’m going to use it as um you know it’s pretty decent obviously it works on based on momentum um so that’s with this I’m testing it like I said between the one and the five and then down
Here is the same thing uh I it kind of lags this because this kind of gave me a Buy Signal before the green um but yeah I mean basically These Bars I believe move up with movement um I want to say this lag this bottom one when it turns red is obviously not good but I was using it on one earlier and um you know it it works it’s almost like a confirmation of the above of this cuz like this turned
Green right here and then the next bar this turned green and then you basically I would have stayed in um until either we close this red below or this turns red so I would still be in this but I’m making the video for you guys because I was kind of excited about it I I’ve gotten I traded a couple times they also kept me out of doing some stupid stuff um you know I kind of thought this would break out and
And test this pivot point but once this turned purple and showed negative and I saw this red bar uh I did not play this even though we came up a little bit this never turned green it was still um like a cell cell side so I just kind of uh you know I I just kind of didn’t play the breakout and it saved me from some bad uh some bad trades so it’s not only helping me stay Ines longer it’s kind
Of helping me to stay out of bad scalps so i’ I’ve did that um you know just a couple times but yeah it’s definitely helped to day just looking at things a little bit different um you know not looking to play bounces until this turns green like you know right here you could have easily been faked out um but I was not even looking for anything until this turn until this turns green and then obviously you want to see this bottom
Bottom one turn green soon after otherwise it’s you know not really a confirm but I I took a scalp at the 200 any anyways doesn’t even matter what this says and like I said I’m still going to play the pivot Points and the or bottom and top no matter what those say because that’s my style of trading this is just kind of secondary for me to look at I just wanted to share it with you guys and I’m going to continue
Playing with it I’m looking for other scripts as well within trading view to to play with and add on um like you guys watching this YouTube video I watch other people’s videos I’m always looking for or something because if it works for somebody it might work for me it might not what I’m telling you might work for you or what works for me might not work for you because it’s like a million ways to trade um I’m just kind of giving
You my thoughts my ideas and I’m constantly learning from other people also um you know until you have the best like I have I feel like I have a really good system but I still look to see uh what other cool indicators and things other people looking at um it can only help so shout out to everybody else on YouTube helping each other out um but here it is you got these two if you want to use it use it they’re
Both free um I don’t really I don’t pay for anything on here so you can add them to your chart and tell me what you like
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