Trading with the Buy Sell Signal Indicator with More accuracy Using Indicators to Display Buy and Sell Signals It's difficult to tell which ones to trade and which ones to avoid on the chart, so this is my idea of how I traded with this indicator when I was new to trading. I hope you enjoy it.
Plot two indicators : (1) Buy Sell Indicator (2) Option Volume Indicator (it consists of average RSI and it has already included a lot of confirmation) / You can use your own indicator as well.
Strategy :
- Go for this signal with STOPLOSS nearest Swing and target minimum to 1: 2 once the Pivot UP arrow appears on the chart and the volume indicator is showing faint aqua color, and vice versa for the Short signal (Faint Red volume). Never trade if the volume is showing Black Candles in Option Volume Indicator . or
- Whenever Signal Appears on chart wait for next candle to break the high/Low of signal candle
- Small traders can use the candle's low as a stop loss.
Don't Break Rules :
- If signals appear on the chart, the volume indicator is showing a faint color, and the subsequent volume candle is dark, close the trade in your favor.
- Avoid trading every signal as doing so will result in the loss of your capital; instead, wait for the right opportunity.
- Once you are in profit, you should always trail Stoploss rather than book because it always increases your profit.
I hope you enjoy trading with my signals. Message me with any questions, and I'll do my best to answer them. & Back Test it
