We know Tradingview comes with too many rich features offering an excellent platform for traders and investors to conduct in-depth technical analysis. By familiarizing yourself with the various tools, indicators, and drawing features, you can gain a deeper understanding of market trends and make well-informed trading decisions. Here are 10 top TradingView indicators that can help you boost your trading strategies:
Moving Averages
Moving averages are one of the most popular technical indicators used by traders. They are calculated by averaging the closing prices of a security over a specified period of time. Moving averages can be used to identify trends, momentum, and support and resistance levels.
Bollinger Bands
Bollinger Bands are another popular technical indicator that can be used to identify trends, volatility, and overbought/oversold conditions. Bollinger Bands are made up of three lines: a moving average, a standard deviation above the moving average, and a standard deviation below the moving average.
Relative Strength Index (RSI)
The Relative Strength Index (RSI) is a momentum indicator that measures the speed and magnitude of price changes. The RSI is typically used to identify overbought and oversold conditions.
Stochastic Oscillator
The Stochastic Oscillator is another momentum indicator that measures the speed and magnitude of price changes. The Stochastic Oscillator is typically used to identify overbought and oversold conditions.
Volume
Volume is the number of shares or contracts that are traded in a given time period. Volume can be used to identify trends, volatility, and support and resistance levels.
Fibonacci Retracements
Fibonacci retracements are a set of ratios that can be used to identify potential support and resistance levels. Fibonacci retracements are typically used after a significant price movement.
Moving Average Convergence Divergence (MACD)
The Moving Average Convergence Divergence (MACD) is a trend-following indicator that can be used to identify trend reversals. The MACD is made up of two lines: the MACD line and the signal line. The MACD line is calculated by subtracting the 12-day moving average from the 26-day moving average. The signal line is calculated by subtracting the 9-day moving average from the MACD line.
Average True Range (ATR)
The Average True Range (ATR) is a volatility indicator that measures the average range of a security’s price over a given period of time. The ATR is typically used to set stop-losses and profit targets.
Aroon Oscillator
The Aroon Oscillator is a momentum indicator that measures the strength of a trend. The Aroon Oscillator is typically used to identify overbought and oversold conditions.
Ultimate Oscillator
The Ultimate Oscillator is a momentum indicator that combines moving averages and the Stochastic Oscillator to identify overbought and oversold conditions.
These are just a few of the many technical indicators available on TradingView. By using these indicators, you can gain a better understanding of the market and identify trading opportunities.
Here are some additional tips for using technical indicators. Use multiple indicators to confirm the signals you are seeing. Don’t rely on technical indicators alone to make trading decisions. Backtest your trading strategies before using them in live trading. Thus by following these tips, you can use technical indicators to become a more successful trader.
