FREE Amazing Tradingview Indicator | 92% WIN RATE [Best Buy Sell Indicator Tradingview]

Summary

In this video, David explores the trading strategy of W.D. Gann, known for his 92% win rate, by backtesting a lesser-known technique from Gann's book. The focus is on a divergence indicator, which David plans to code and test on TradingView. He explains the concept of divergence, both regular and Gann's unique method, which involves analyzing pairs of assets to detect market reversals. Viewers are encouraged to engage with the content for a chance to win 100 USDT, and David promises to delve deeper into the indicator's application in future videos.

Takeaways

• 😀 The video discusses backtesting a trading strategy with a 92% win rate and building an indicator to emulate successful trades.
• 📈 The presenter, David, introduces a trading strategy inspired by WD Gann, a well-known figure in the trading world, famous for his high win rate and achievements, including turning $30 into $112,000 in 30 days.
• 📚 The strategy involves using a divergence indicator mentioned in one of Gann's books, 'The Truth of the Stock Tape', which includes various methods for predicting market movements.
• 🔍 Divergence is a trading concept where the price action and an oscillator, like RSI, move in opposite directions, signaling potential reversals in the market trend.
• 🤔 David proposes a unique divergence indicator that uses two currency pairs to detect reversals, rather than a traditional oscillator like RSI.
• 💡 The indicator uses the price action of the main currency (e.g., BTC/USDT) and compares it with a moving average of other coins to spot inefficiencies in the market.
• 👀 The indicator can be applied to price action, RSI, and other oscillators, with settings to normalize the data on a scale of 0 to 100 for better comparison.
• 📊 The script includes examples of both bullish and bearish divergences, highlighting how the indicator can be used to identify entry points for trades.
• 💻 David demonstrates the indicator in action on TradingView, showing how it has already been used in live trades with positive results.
• 🔧 The video mentions the process of turning the indicator into a trading bot, acknowledging the complexity of confirming divergences in automated trading.
• 🎁 David offers a 20% discount for trading fees on Bybit and gives away 100 USDT to a random comment, showing appreciation for the community's engagement.

Q & A

What is the main topic of the video script?

The main topic of the video script is exploring and backtesting a trading strategy with a 92% win rate, specifically focusing on a divergence indicator inspired by W.D. Gann's methods.

Who is W.D. Gann and what is he known for in the trading world?

W.D. Gann, also known as William, was born in 1878 and is well known in the trading world for his high win rate and achievements, such as making millions during the 1929 stock market crash and turning $30 into $112,000 in 30 days. He is also an author of many trading books.

What is a divergence indicator in trading?

A divergence indicator in trading is a technical analysis tool that identifies a lack of confirmation between the price action of a security and an indicator, such as the RSI. It often signals a potential reversal in the current trend.

How does the divergence indicator work in the context of the video script?

In the context of the video script, the divergence indicator works by comparing two currency pairs or the average of multiple coins against a main currency. It looks for situations where one currency makes a higher low while the other continues to make lower lows, indicating a potential reversal.

What is the 'squeeze' trading strategy mentioned in the script?

The 'squeeze' is a trading strategy based on divergences, which is one of the most profitable strategies of the speaker. It involves using confluence within a trading strategy to identify potential market reversals.

What is the purpose of the indicator being built in the video?

The purpose of the indicator being built in the video is to emulate the trades of a successful trader with a 92% win rate, by detecting divergences that could signal potential market reversals.

What is the significance of the 100 USDT giveaway mentioned in the script?

The 100 USDT giveaway is a weekly incentive for viewers to engage with the content by leaving comments. One random commenter is selected to receive the prize, which is a form of community engagement and reward.

How does the speaker plan to test the divergence indicator?

The speaker plans to test the divergence indicator by coding it into a trading strategy, potentially backtesting it during the week if the video gets enough likes, and then sharing the results with the audience.

What is the role of Bybit in the development of the indicator?

Bybit is mentioned as a supporter in the development of the indicator, providing tools and a discount on trading fees for the community. The speaker has negotiated a 20% discount on trading fees for their viewers.

How can viewers access the indicator and other trading tools discussed in the video?

Viewers can access the indicator and other trading tools by joining the speaker's Patreon or Discord community, where they collaborate on optimizing strategies and sharing trading insights.

What is the speaker's final message to the audience?

The speaker's final message is a thank you to the audience for being part of the community, an invitation to join the Discord for further collaboration, and a tease for the next video on Monday with the hope of providing profitable trading insights.