Summary of "馃搳Smart Money Setup 04 Indicator to TradingView - Free - [TradingFinder]"
The video presents the Smart Money Setup 04 Indicator, a free trading tool available on the TradingFinder website and directly accessible on TradingView. This indicator is designed to help traders identify key market zones and patterns linked to institutional trading activity, facilitating more informed buy or sell decisions.
Main Financial Strategies and Market Analyses:
- Order Block Zones Identification:
- Blue zones mark bullish order blocks (demand zones).
- Red zones mark bearish order blocks (supply zones).
- These zones represent areas where large institutional orders are placed, often leading to significant price reactions when revisited.
- Three Drives Pattern Detection:
- Bullish Three Drives Pattern forms near support zones, indicating decreasing selling pressure and increasing buying pressure.
- Bearish Three Drives Pattern forms near resistance zones, indicating decreasing buying pressure and increasing selling pressure.
- The pattern consists of three consecutive higher highs or lower lows with long wicks, signaling momentum shifts.
- Combined Strategy:
- When the Three Drives Pattern forms near an order block zone, it creates a strong entry signal for trades.
- Example given: Entering a buy trade at the 50% retracement level of a bullish order block after a Three Drives Pattern forms, with stop loss placed behind the order block or previous swing low, and targeting higher highs.
Methodology / Step-by-Step Guide:
- Access the Smart Money Setup 04 Indicator via TradingView鈥檚 indicators section or TradingFinder website.
- Add the indicator to your chart and optionally add it to favorites for quick access.
- Observe the chart for:
- Bullish (blue) and bearish (red) Order Block Zones.
- Formation of three drives patterns near these zones.
- When a Three Drives Pattern appears near an order block:
- Consider entering a trade at the 50% retracement level of the pattern.
- Set stop loss behind the order block zone or previous swing.
- Set profit targets at expected higher highs or lower lows.
- Customize indicator settings:
- Adjust the calculation period for the Three Drives Pattern to control pattern length and movement scale.
- Change colors of Order Block Zones for better visualization.
- Enable/disable visual display of inputs in the status line for clarity.
Business Trend:
The video highlights the growing use of Smart Money Concepts and Institutional Order Flow Analysis in retail trading tools, allowing individual traders to mimic strategies traditionally used by large financial institutions.
Presenters / Sources:
- The tutorial is presented by TradingFinder, the platform offering the Smart Money Setup 04 Indicator.
Category
Business and Finance