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Transcript
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What’s going on, guys? So, this is a little Trading View indicator I’m going to start using. Um, before I even get into this, if you want this indicator, it’s free. The link to it is in our Discord. The Discord link is in the description of this video. Um, I don’t think it’s public yet on the Trading View platform. Also, I stream live every single day. Be sure to subscribe, smash the old like button. Uh, and if you want to support the
Stream, be sure to use code Cove Trader. But, uh, yeah, so I’m just going to get into what this is. It’s a cool little fib tool. I was looking for, uh, just another indicator that provides, um, confluence on the higher time frames. Um, and this is kind of what I was talking about. Sean made this indicator. I did not make it. Um he’s in the Discord. He provides a lot of tools. Uh if you got something that interests him, maybe he’ll
Make it for you, maybe he won’t. But he made this auto fib tool that’s based on the higher time frames. So basically, this is I have it set for five minutes, which I think is um is kind of what I’m looking for. And I’ll show you how it works right now. All right. So, I set it for five minutes, which I think is probably the best. Listen, I’m probably not solely taking trades on this. This is just going to be another
Indicator kind of how I use uh stochcastics. I don’t trade off stochcastics. It’s just something I look for. And then once we’re low, I’ll look for uh you know, I’ll look for a setup there. I’m not just gonna take, you know, a long here because stochastics are below 20. Um, you know, that’s just how it is. It’s just a secondary indicator that I’ll look at when placing trades to put probabilities in my favor. And how you can see this is kind
Of it autofibs it. So, you could see it just kind of moves along. Super simple. And you know, is it going to work every single time? No. But, you know, on the higher time frames when we get up into this area, if it presents a good short, I’m probably going to take it with a couple of the other things I’m looking for. And you can kind of see, it’s, you know what it’s doing. It’s moving along, creating the fib retracements, and
Then it kind of adjusts. um depending on the most recent. See? And then once it switches, see how it just came all the way down to it and then popped. It’s just kind of a thing that I’m basically using that when we make these large pullbacks, what area would I be looking for to possibly get long? And then I would look for my other things. um you know, maybe an inversion right here. Maybe when we came down here, I’d look for
An inversion and then take that to the upside. So, it’s just another thing that I’m looking for. Um I really like how it plays out. Um I’m like I said, I’m not solely playing on this. And if you like this, it’s free, doesn’t cost you anything. I just wanted to share with the community. Uh it’s a pretty cool trading uh trading view indicator. I like that it auto fibs. That’s kind of what I was looking for. And uh I like that
You could set it on the whatever time frame you want. You could do the five 15 hourly, whatever you want to do. You could probably split multiscreens and run five over here, 15 over here. Um if you wanted to. And that’s pretty much it. I I like it. It kind of lays everything out. And um I’m going to leave it on my screen. I just know when I’m streaming a lot of people are going to ask me about it, so I
Figured I’d make the video. And here that is. Any questions, come on live stream and ask or ask in the Discord. Like I said, everything is in the description of the video.
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