TradingView Signal Indicators: The Untold Truth — Full Breakdown & Transcript

[00:04] signal their donations? Is this really possible? There are hundreds of thousands of indicators and tens of thousands of traders who rely on them daily. Simply put, you place the indicator on the chart, it gives you a buy signal, you enter a trade, and then you reap

[00:20] it gives you a buy signal, you enter a trade, and then you reap the profits. But is this really realistic? Is it really possible to grow a trading account in this way, or are all these indicators illusions? This is what I'll discover over the next five days, and if it works, I'll reward myself with a new Rolex watch.

[00:34] Just kidding! This video contains no promises or guarantees of any future results. So let's start now and choose a trading indicator. I'm currently on the TradingView platform, reviewing different indicators. I'm in the Community section, looking at the best indicators.

[00:48] Many of these indicators, like this one, don't give buy or sell signals, but rather help traders conduct their analyses and understand the market structure. However, we want something that provides buy and sell signals that we can follow directly. After reviewing all the indicators, we found the winner:

[01:04] reviewing all the indicators, we found the winner: UT Bot Alerts. This indicator is UT Bot Alerts. This indicator is very clear; it provides buy and sell signals and is used by more than 27,000 traders. So, I added it to my chart, and the only thing I'll

[01:17] adjust in the settings is the base value to four with an ETR of 10. That's all. I think this represents well the indicators that give signals and will give us an idea of ​​whether these buy and sell signals can actually grow a trading account. This

[01:32] means we actually need a real trading account to be able to grow it with these indicators. So, what account size do we want to start with? Let's spin the wheel to see if it will be $1000, $3000, $5000, or $10,000. We chose $3000. Excellent! I've now deposited

[01:50] $3000 into a verified live trading account so we can follow the index results live on the FXBook platform all week long. [Music] But before I start my first trade, if you're wondering where I trade all week, it's with

[02:05] Triple EFX. They're the best broker in this field. I recently switched to them because they offer better execution times for my scalping strategy, lower spreads, and lower commissions. They also

[02:17] have both MetaTrader platforms. So, if you're looking for a place to trade, click the link in the description now. Registration is free. Let's start placing trades. Okay, this is day one. I'll be doing this for five days, and I'm using a five-minute timeframe because that's what I usually use to

[02:32] enter trades on most of my personal accounts. We have a resistance level above here and clear support below here, so I think this gives us There's plenty of room to trade within our overall range. There's been a break of the trend line here, and I'm

[02:48] currently monitoring the charts to see if I'll get a sell signal once there's another break of the get a sell signal once there's another break of the trend line here. Let's execute that now. You can see that we broke the trend line here and then got a sell signal, which means I'll enter a short position

[03:04] in that area. Let's continue to follow this scenario to see how good this indicator actually is. So far, things look good. During the first few candles, we're in a downtrend and continuing to go down. There was some consolidation here, but the candle looks very good.

[03:22] consolidation here, but the candle looks very good. Another nice candle pulls back a little, and now things are starting to accelerate with the appearance of very large candles. And very large candles. And here the target has been fully achieved. I made

[03:35] about $235 from this first golden trade. Now look at another trade on the five-minute timeframe, the AUD/ CAD pair. You can see we have a

[03:47] resistance level here and a support level in this area. We'll trade again within our overall range now. There's been a break of this trend line here and another break here. This candle broke through the

[04:02] resistance box there. Now I need it to tell me The indicator gave a buy signal, and you can see that I The indicator gave a buy signal, and you can see that I received this signal and then entered the trade. Look, I noticed some consolidation, then the market moved against me a little here, and then it started to rise and

[04:18] the market moved against me a little here, and then it started to rise and fully reached the target of $142. So at the end of the day, my profit balance is $305.65. Let's scroll down a bit to review these winning trades. You can see here that the gold trade made about $230 in profit, and the AUD/

[04:35] gold trade made about $230 in profit, and the AUD/ problem with the way I'm handling this because you can see that I'm doing a lot of analysis before I get the signal. So, is the indicator actually good? I think the

[04:50] only way to find out is to do some backtesting and follow some signals directly without manual intervention. That's what I'll do tomorrow. It's day two, and I don't have much to show today. I only had one losing trade, which reduced my profit from $365

[05:07] to $203. If we scroll down and look at the trade history, you'll see that I I lost about $162 in a single trade in just 53 minutes. After this loss, I started doing

[05:19] some backtesting, and the results showed that using the indicator alone, without any manual intervention as I had done previously, yielded a relatively low profit rate of about 47%.

[05:31] However, I believe we can find ways to increase this rate, as I did in the first two trades. Now let's move on to day three. Well, this is day three, and I've just completed some trades on the USD/JPY pair. You can see here that I received a sell signal, so I

[05:47] opened a sell position at this point. Let's continue and see what happened. You can see some hesitation, then the market moved against me, reaching my stop-loss level, and I lost some money there. After that, I received a buy signal

[06:03] money there. After that, I received a buy signal at that point, so I decided to try a buy position, following the signal directly and without any manual intervention, letting the indicator do its job. It seems that when I let it work freely, it tends to

[06:16] disappoint, as the stop-loss was triggered again, resulting in two consecutive losses. If we look at... Let's look at this chart to define our range. You can see that we have a clear resistance level

[06:28] here and a support level here at the bottom. This is the range we're trading within. So, should I have sold here? Maybe it's not a

[06:40] bad sell, but should I have bought here? Definitely not. This is the resistance level here. Definitely not. This is the resistance level here. Look, it touched the resistance and then bounced down. That's right, don't buy at resistance and don't sell at support. Be smart and don't blindly follow these indicators.

[06:57] Now, to save the day, and know that I said I would just copy the signals, but look, I was following the charts. I identified the support level here and the resistance level on the hourly timeframe here. So, we're trading within this range. If we measure the distance from one

[07:13] end of the range to the other, we find that the price is above the 50% limit. the price is above the 50% limit. So, we're selling at a discount. The trend line was broken So, we're selling at a discount. The trend line was broken here, so I decided that was enough and I would enter the trade using my

[07:27] here, so I decided that was enough and I would enter the trade using my own method. As you can see, the performance here was better, as the sell signal was present with some slight hesitation, slight hesitation, then the price dropped completely and hit the target exactly.

[07:42] Now, I've already shown you this backtest, but I haven't shown you the but I haven't shown you the other backtest where I achieved a profit rate of up to Up to 87% other backtest where I achieved a profit rate of up to Up to 87% when using personal intervention with signals.

[07:56] when using personal intervention with signals. This shows that knowledge helps you more. Don't rely on these indicators blindly. And now I promise you that on day four I will refrain from personal intervention. Well, this is day four, and as you can see, things haven't gone

[08:10] Well, this is day four, and as you can see, things haven't gone well. My loss is now well. My loss is now $355. I let the indicator run freely and lost four consecutive trades. So I think it's safe to say that we

[08:27] should be involved in the process of using the indicator, and I won't argue with you about this anymore. Tomorrow I only have one day to get my account balance back up to over $3,000. Also, I'm

[08:39] going to the beach with my family, and I'm taking you with me. So if you feel any sympathy for me, please leave a comment and like the video. And let's begin day five. I wanted to show you some trading on the beach, but the internet wasn't working, and I hope I just won a trade.

[08:54] won a trade. [Music] I hope you enjoyed joining me on the beach. As you can see, the internet wasn't working, then it started working, and I was losing the trade. This is the trade in question. You can see that the

[09:10] resistance level on the timeframe The hourly timeframe is here. We also have a trend line here. We were waiting for a breakout to enter the trade. We got a sell signal from our indicator. Let's identify the

[09:23] resistance level on the hourly timeframe and the support level below. Here, the price is at the top, so we want to support level below. Here, the price is at the top, so we want to sell it down to the support level. Let's see what happened. You can see that the trade started in my direction,

[09:38] You can see that the trade started in my direction, then the market moved against me a little. At one point, I was probably on the beach and lost about $50, but we continued with the trade. The trade continued for a long time and actually reached day six. So this is a

[09:55] reward. We are now on day six. The trade continued throughout the weekend, and we waited for it to start again on Monday. I was still feeling confident about the trade. Why? Because I have a resistance level on the hourly timeframe, you need to know what you are doing when trading and you need to

[10:11] have some technical analysis skills. You cannot rely on the indicator alone. As you can see here, we were making profits at these points, at these points, at these points, but can we

[10:23] reach the ultimate goal? Yes, we managed to achieve our ultimate goal with gains of several hundred dollars. Now for the final results: unfortunately, this win wasn't enough to save us, and we ended up final results: unfortunately, this win wasn't enough to save us, and we ended up losing $181. Our best

[10:37] losing $181. Our best balance was $3,365. That was on the first day when I was actively involved in the operation. You can see the trading results below. Our last winning trade lasted three days, including the weekend, and

[10:51] lasted three days, including the weekend, and yielded $173. I think what we learned today is that you can't rely on signal indicators without your own skills and on signal indicators without your own skills and ability to analyze the markets.

[11:03] Identify support and resistance levels and use some supply and demand concepts. Join my free trading room. Join my VIP trading room to learn more and get trades directly from me. Like and subscribe to the channel. Consider watching this video

[11:18] here. Definitely watch this video here, and I'll be back next week. All my love.