This NEW TradingView Indicator Is Better Than PREMIUM |  Best Indicator For Scalping on 5min Chart

Summary

This video introduces a unique scalping strategy for various markets, including cryptocurrencies and stocks, focusing on 5-minute charts. It reveals a secret indicator, the Triple Confirmation Kernel Regression Overlay by Quantra AI, which combines three kernel regression functions for balanced market predictions. The strategy also incorporates the Voss Predictor for enhanced entry signals. Detailed instructions on setting up the indicators and rules for entry and exit points are provided, emphasizing the importance of trend analysis and signal validation for effective trading.

Takeaways

• 📈 The video introduces a scalping strategy using a secret indicator for 5-minute trades, emphasizing its accuracy and suitability for various markets including cryptocurrencies, stocks, futures, and major forex pairs.
• 🔍 The strategy involves two free indicators: the Triple Confirmation Kernel Regression Overlay and the Voss Predictor, which are used to identify trends and filter out false signals.
• 🛠️ The Triple Confirmation Kernel Regression Overlay uses three kernel regression functions to provide a balanced view of market trends, capturing complex and nonlinear relationships within financial markets.
• 🔧 The video provides specific settings for the Triple Confirmation indicator, such as adjusting the bandwidth, standard deviation, and enabling overbought/oversold shading to maximize profits.
• 📊 The center line of the Triple Confirmation indicator represents the long-term average trend, with the price action below indicating a bearish market and above indicating a bullish market.
• 📌 The Voss Predictor adds a color-changing predictive filter line and dots that signal the market's momentum and direction, enhancing entry signals for trades.
• 📝 Entry and exit rules are clearly defined for both long and short positions, including conditions for price action relative to the indicators' lines and zones.
• 🎯 For long positions, the price must be above the white line (bullish trend), below the overbought zone, and have a bullish crossover below the center line with green dots indicating bullish momentum.
• ❌ For short positions, the price must be below the white line (bearish trend), above the oversold zone, and have a bearish crossover above the center line with red dots indicating bearish momentum.
• 🚫 The video script emphasizes that the strategy is for demonstration purposes and should not be taken as financial advice, urging viewers to use the information responsibly.
• 👍 The presenter encourages viewers to subscribe to the channel for more informative content, highlighting the educational value of the video.

Q & A

What is the main topic of the video?

The main topic of the video is a scalping strategy using a secret indicator for trading in various markets, including cryptocurrencies, stocks, futures, and major Forex pairs.

What is the time frame that the strategy is best suited for?

The strategy is best suited for 5-minute and 15-minute time frames, although it can also be effective on longer time frames such as 1 hour and 4 hours.

What is the first indicator mentioned in the video and what does it do?

The first indicator mentioned is the 'triple confirmation kernel regression overlay' created by quantra AI. It uses three different kernel regression functions to calculate a balanced and smooth composite of the regressions.

What is kernel regression and how is it used in trading?

Kernel regression is a non-parametric machine learning algorithm that fits curves to a given data set by combining historical market data. It is used to make informed predictions and gain insights into market trends, especially capturing complex and nonlinear relationships.

What are the three kernel regression functions used in the triple confirmation indicator?

The three kernel regression functions are the Parzen, Wave, and Logistic kernel regressions, each with different methods of assigning weights to data points based on their distance from the target point.

How should the bandwidth and standard deviation be adjusted in the indicator settings for optimal results?

The bandwidth should be changed to 75 and the standard deviation extreme from 3 to 2 for optimal results in the market.

What does the white line in the triple confirmation indicator represent?

The white line in the triple confirmation indicator represents the long-term average trend. If the price action is trading below this line, it indicates a potential bearish market and downtrend.

What is the significance of the purple and blue channels in the indicator?

The purple upper channel signifies an overbought market condition, while the blue lower channel indicates an oversold market condition.

What is the second indicator added to enhance entry signals and what does it do?

The second indicator is the 'Voss predictor'. It has a color-changing filter line that, when it crosses over or under a white band pass filter line, signifies buy or sell signals depending on its position relative to the center line.

What are the conditions for entering a long position according to the strategy?

To enter a long position, the price action must be trading above the white line (indicating a bullish trend), below the overbought zone, with a bullish crossover below the center line, and the center line dots green.

What are the conditions for entering a short position according to the strategy?

To enter a short position, the price action must be trading below the white line (indicating a bearish trend), above the oversold zone, with a bearish crossover above the center line, and the center line dots red.

How should the stop loss and take profit be set for trades based on the strategy?

The stop loss should be set just below the blue shading or at the white line for long trades, and just above the purple shading or at the white line for short trades. The take profit should aim to be two times greater than the stop loss.

What is the disclaimer regarding the strategy presented in the video?

The strategy is for demonstration purposes only and should not be taken as financial advice. It is for informational purposes, and viewers should not rely solely on this information for trading.