👺 RAVAN 2.0 SCREENER | MY FAVOURATE TRADING STRATEGY | TRADINGVIEW INDICATOR | RULE BASED | 85%++

Summary

In this video, Akash Sharma walks users through the process of applying a specialized trading indicator in TradingView, designed to identify market trends and generate buy/sell signals. He explains the four key conditions to follow: confirming directional indicators (DI+ and DI-), using RSI for trend validation, checking for EMA breakouts, and analyzing multi-time frame data. The video emphasizes the importance of following these conditions for optimal trade accuracy, offering additional tools like Fibonacci retracement and pivot points for further trade validation. This strategy is suitable for all market types, from commodities to stocks.

Takeaways

• 😀 Clear your chart before applying the indicator. Remove any existing indicators to ensure smooth application of the new indicator.
• 😀 After receiving access, navigate to the 'Invite Only' section in TradingView to access the indicators: RA 2.0 Screener, TG AadX 2.0, and Rahan Alerts.
• 😀 The primary conditions for using the indicator include: DI+ and DI-, RSI above 60, 50 EMA breakout, and multi-time frame trend analysis.
• 😀 DI+ represents bullish momentum, while DI- indicates bearish momentum. Use these to identify market direction.
• 😀 RSI helps confirm trend strength: if RSI is above 60, a confirmation will appear as a yellow arrow on the chart.
• 😀 Use the 50 EMA to confirm entry points: for a short position, the candle should close below the 50 EMA; for a long position, it should close above.
• 😀 The multi-time frame table shows the market trend across different time frames using 21 EMA data. Minimum 70% bearish for short and bullish for long positions.
• 😀 In case of uncertainty, use horizontal lines to track key levels and breakouts, which can help confirm whether to enter the trade.
• 😀 Always focus on higher quality signals, such as those aligned with both DI+ and DI-, RSI, and 50 EMA conditions, to improve the accuracy of trades.
• 😀 The indicator can be applied to a variety of markets, including commodities, forex, crypto, and stocks. It provides flexibility for traders across different sectors.

Q & A

How can I apply the indicator to my chart after purchasing it?

To apply the indicator, first, remove any existing indicators from your chart by going to the indicator section and clicking the 'delete' option. Once your chart is clear, you will see the 'invite only' section in the indicator tab, where you'll find three available indicators: RA 2.0 Screener, TG AadX 2.0, and Rahan Alerts.

What is the purpose of the DI+ and DI- indicators?

The DI+ (Positive Directional Index) indicates bullish momentum, while the DI- (Negative Directional Index) indicates bearish momentum. These indicators are crucial for confirming market trends and trade signals.

What role does the RSI play in confirming trade conditions?

The RSI (Relative Strength Index) helps confirm the trend direction. If the RSI is above 60, it confirms a bullish market, while an RSI below 40 signals a bearish market. It provides confirmation for potential entries and exits.

How do I use the 50 EMA for confirming trades?

The 50 EMA (Exponential Moving Average) is used to confirm trades. For a short trade, the candle should close below the 50 EMA, and for a long trade, the candle should close above it. This helps determine the trend direction.

What is the significance of the multi-time frame table?

The multi-time frame table shows market momentum based on different time frames (from 1 minute to 1 month). It helps you assess the overall trend, whether bullish or bearish, across various time periods, aiding in better decision-making.

How do I use support and resistance levels for booking profits?

Support and resistance levels are essential for booking profits. When a price reaches a support zone, it may bounce back, signaling a good exit point for short trades. Similarly, a resistance zone indicates a potential exit for long trades.

What are the differences between Fibonacci retracement and pivot points?

Fibonacci retracement helps identify potential reversal levels by plotting horizontal lines based on the Fibonacci sequence. Pivot points, on the other hand, are calculated using the high, low, and close prices from the previous period, offering support and resistance levels.

How should I react if the conditions for a trade signal don’t align?

If the conditions, such as DI+ and DI- confirmation, don’t align, it is advisable to avoid taking the trade. In such cases, you can set a horizontal line to monitor when the market confirms the conditions, allowing you to enter the trade when they align.

What does the white candle indicate in this strategy?

White candles indicate that the RSI is within the 60-40 zone, suggesting that the market is not overly bought or sold. It helps identify range-bound markets where price movements are more stable, and you might avoid entering trades in such conditions.

How can I increase the accuracy of my trades using this strategy?

To increase accuracy, follow the four main conditions: DI+ and DI- confirmation, RSI confirmation, 50 EMA breakout, and multi-time frame analysis. Additionally, using support/resistance, Fibonacci retracement, and pivot points as confirmation tools can further improve trade precision.