[00:00] And as you can see, it works fn amazing. One day I was searching the internet for what&nbsp;&nbsp; I hoped to be the best indicator out there. Now some people would call this a waste of&nbsp;&nbsp;
[00:12] time because there s not an indicator out&nbsp; there that can actually work that good. &nbsp; And they are probably right. I checked indicator after indicator. &nbsp; And All of these indicators were&nbsp; promising huge gains but when I&nbsp;&nbsp;
[00:26] backtested them. They were all complete sht. I was actually pretty depressed because I felt I&nbsp;&nbsp; was being lied to by these indicator creators. Promising these huge gains, but all I was&nbsp;&nbsp; getting in return was my stop loss getting hit. After hours of searching through indicators, I&nbsp;&nbsp;
[00:42] stumbled upon one that looked somewhat promising. I added it to my chart expecting some mediocre&nbsp;&nbsp; indicator that would right somewhat of the time. But then I checked the chart history &nbsp; I was blown away from how accurate&nbsp; this indicator appeared to be. &nbsp;
[00:56] It was doing a surprisingly good job at&nbsp; finding where the trends started and ended. &nbsp; I was starting to get extremely excited&nbsp; because I thought I stumbled upon a gold mine. &nbsp;
[01:09] I was starting to see some problems. This indicator was doing a spectacular&nbsp;&nbsp; But where the problems started arising&nbsp; was when the market was moving sideways&nbsp;&nbsp;
[01:24] making false signals and really brought&nbsp; down the winrate of the indicator. &nbsp; So I had to think of a way to completely&nbsp; redesign this indicator. A way to alter&nbsp;&nbsp; the mechanics and absolutely change the&nbsp; mathematics and calculations to where they&nbsp;&nbsp;
[01:39] Yeah, I just changed the settings. First things first. &nbsp; You need to get on tradingview. If you don t yet&nbsp; have it, ill leave a link in the description. &nbsp; Next go to your chart and click indicators. You are then going to search ema trend&nbsp;&nbsp;
[01:53] meter . Click this one right here. Next Click this litter gear icon to&nbsp;&nbsp; why this indicator was inaccurate was&nbsp; because it was a little to sensitive. &nbsp; And it would enter a buy or sell&nbsp; from just a little movement. &nbsp;
[02:09] The ema fast to 21 The ema medium to 34 &nbsp; And then finally the ema slow to 55. Then, click the styles tab and&nbsp;&nbsp;
[02:21] uncheck this shapes box right here. Then wallah your indicator is more accurate. &nbsp; But there s still a major problem. So sure, we made the indicator less&nbsp;&nbsp; sensitive so it will only give us a signal&nbsp; when there is a greater chance of a trend. &nbsp;
[02:36] It s still giving us signals when&nbsp; the market is consolidating. &nbsp; And as we all know, indicators in&nbsp; consolidating markets don t work that well. &nbsp; So we have to find a solution to that. After hours of research of trying to&nbsp;&nbsp;
[02:52] find a solution to this problem.&nbsp; I finally found the perfect fit. &nbsp; This. Okay, I promise its cooler than it looks. &nbsp; To add it to your chart, type in stochastic&nbsp; momentum index and select this one by surj,&nbsp;&nbsp;
[03:06] surjith, surjithctl- this guy. Go to the settings of this new indicator. &nbsp; Go to the styles tab and change the color of the&nbsp; stochastic to white. Then raise the opacity. &nbsp; So now we have 2 indicators on our chart. One for finding trends. &nbsp;
[03:20] So whats the strategy? First, you have to select a timeframe. &nbsp; Now this indicator will work for all timeframes. But from my backtesting, I found that it&nbsp;&nbsp; works extremely well on higher time frames. So id suggest using the 1 hour, 4 hour or daily. &nbsp;
[03:38] The strategy is actually pretty simple. First, you If you are interested in&nbsp;&nbsp; entering a long trade. You first need all 3&nbsp; of these lines to be green just like this. &nbsp;
[03:50] If 2 of the lines are green and 1 is&nbsp; still red, we do not enter this trade. &nbsp; All 3 of the lines must be green&nbsp; in order to enter a trade. &nbsp; If you simply just do this in itself on a higher&nbsp; time frame and look at the chart history. &nbsp;
[04:04] You will see just simply doing&nbsp; this works very very well. &nbsp; green. Chart is going up. This area the indicator is&nbsp;&nbsp; actually quite surprised. But in old tradinglab fashion,&nbsp;&nbsp;
[04:20] First thing. We need this white line&nbsp; to go beneath this bottom blue line. &nbsp; there s movement or a pullback happening. Next, to make sure we have bullish momentum,&nbsp;&nbsp;
[04:34] this white line must cross above this red line. If we get this combination we can enter a trade. &nbsp; So lets go over a trade example. After that I&nbsp; ll give you one more indicator that changes this&nbsp;&nbsp;
[04:46] indicators performance by a land slide. First we go on the 4 hour time frame. &nbsp; Next we wait for the trend meter to have&nbsp; all lines green. So we re good here. &nbsp; Next we wait for 2nd indicator to&nbsp; go below the blue line, like this. &nbsp;
[05:01] Next, we wait wait for the white line&nbsp; to cross and go above the red line. &nbsp; Once this happens. Check your trend&nbsp; meter and make sure its still all green. &nbsp; of put your own twist on the indicator. The take profit and stop loss can be&nbsp;&nbsp;
[05:16] with fair value gaps, orderblocks,&nbsp; and liquidity works extremely well. &nbsp; These are kind of advanced topics so im not&nbsp; going to over all that in this video, I ve&nbsp;&nbsp;
[05:29] made multiple videos on these topics so if you&nbsp; don t know what im talking about check those out. &nbsp; you can apply it to this indicator. An alternate way you can use this&nbsp;&nbsp;
[05:41] indicator is what im going to call the noob&nbsp; way. It still works extremely well but just&nbsp;&nbsp; know you can get a lot more out of this&nbsp; indicator by adding other confluences. &nbsp; You re going to enter. Set your stop loss below the recent low. &nbsp;
[05:54] Then set your take profit at&nbsp; a 2:1 risk to reward ratio. &nbsp; Okay lets go over a short example and then I will&nbsp; give you that final indicator to sky rocket the&nbsp;&nbsp;
[06:06] of these lines are red this time. Next make sure the stochastic momentum index s&nbsp;&nbsp; white line has gone above this top blue line. Then finally the white line should&nbsp;&nbsp;
[06:18] trend meter is all red still. Enter the short trade. &nbsp; Set your stop loss above the recent high and set&nbsp; your take profit at a 2:1 risk to reward ratio. &nbsp;
[06:30] Alright, how about we increase the&nbsp; accuracy of the strategy bit more eh? &nbsp; I don t know why I said eh im not Canadian. It&nbsp; just kind of felt good in the moment moving on. &nbsp;
[06:42] Now this part is completely optional, but when I&nbsp; added it to this strategy it increase the winrate&nbsp;&nbsp; by 9%. Which, may seem like a small number but&nbsp; in the long run that could be the difference of&nbsp;&nbsp; thousands of dollars if not 10 s of thousands. Now one of the big problems with this&nbsp;&nbsp;
[06:58] indicator is consolidating markets. 99% of the losing trades this indicator&nbsp;&nbsp; had were taken in consolidating markets. So if we found a way to avoid these trades,&nbsp;&nbsp; it would make this indicator absolutely insane. Luckily for you, I found the perfect solution. &nbsp;
[07:14] I created an indicator that&nbsp; does all of that for you. &nbsp; it will give you important metrics&nbsp; like trend, momentum, volatility,&nbsp;&nbsp; and volume. And will automatically&nbsp; calculate if its bullish or bearish. &nbsp;
[07:27] But not only that, it will automatically tell&nbsp; you if the market is consolidating or trending. &nbsp; Hopefully that little hamster wheel is&nbsp; spinning in your head right about now. &nbsp; You go to tradinglab.ai to get the indicator.&nbsp; I ll also leave a link in the description. &nbsp;
[07:42] The only thing that sucks is that my indicator&nbsp; on mt5. Which is another charting platform. &nbsp; So you do have to have both tradingview&nbsp; and mt5 open at the same time. &nbsp; its 100% worth it for the results. So we are going to do the exact&nbsp;&nbsp;
[08:00] same thing but just add the trend table. Make sure the trend meter is all green. Make sure&nbsp;&nbsp; the white line dips below the blue line. Then make&nbsp; sure the white line crosses above the red line. &nbsp; Next go to the trend table on mt5. In an ideal world we want to see&nbsp;&nbsp;
[08:15] the consolidation metric to say trending If we see this, it means we can enter the trade&nbsp;&nbsp; knowing we have a great chance of winning it. Enter the trade. Set your stop loss below recent&nbsp;&nbsp;
[08:29] low. Set your take profit to a 2:1&nbsp; and boom you got a winning trade. &nbsp; This strategy works extremely well. And to be honest, Im kind of&nbsp;&nbsp; Try it out yourself, let me&nbsp; know how it works for you. &nbsp;
[08:43] Thanks for watching, and ill&nbsp; see you guys next time.