Best Scalping Indicator **JUST GOT BETTER** — Transcript

Full transcript

1. 0:00well it's official the best scalping
2. 0:03indicator just got better you guys have
3. 0:05probably watched my previous video on
4. 0:07the best scalping indicator and version
5. 0:09two is now out so in this video i'm
6. 0:11gonna do a detailed explanation of
7. 0:13everything involved in this indicator
8. 0:16and how to use it
9. 0:17[Music]
10. 0:19welcome back to the channel everybody my
11. 0:21name's artie and this is the moving
12. 0:23average a show where we talk about
13. 0:24everything day trading to keep you
14. 0:26profitable on a consistent basis
15. 0:28so because the channel is so massive and
16. 0:31the discord group
17. 0:32is absolutely like growing like crazy
18. 0:35there are so many people on there
19. 0:36willing to help
20. 0:37because they vibe with my mission giving
21. 0:39free information to people who need it
22. 0:41and so through that one of the members
23. 0:43of the community
24. 0:44actually created an indicator using all
25. 0:46of the indicators that i used to use
26. 0:48in my previous videos and put them all
27. 0:50into one bunch
28. 0:51and through that process we realized
29. 0:53that we could improve it just a little
30. 0:55bit giving more of a momentum
31. 0:57indicator feel to this momentum
32. 0:59indicator so i'm gonna try to keep this
33. 1:00video very short
34. 1:02run through the details with you guys as
35. 1:04well as show you what trade i took
36. 1:06last night as a test because i just got
37. 1:09version two
38. 1:10last night let's jump into the charts
39. 1:11okay so we have australian dollar us
40. 1:13dollar on the charts and you guys know
41. 1:15that i like to do my support and
42. 1:17resistance levels
43. 1:18on the one hour time frame you should
44. 1:20always be doing this markup
45. 1:21before you throw on any indicator before
46. 1:24you do any price action analysis
47. 1:26like this is what you should be doing
48. 1:27and these are your targets
49. 1:29so usually i do my one hour markup and
50. 1:31then i take it down to the 15 minute
51. 1:33chart so from here i actually see my
52. 1:35rejections off of support and resistance
53. 1:38levels
54. 1:38i find my big ass candle because you
55. 1:40guys know i like to trade my big ass
56. 1:42candles
57. 1:42they are momentum shifting candles
58. 1:44really really good entry points
59. 1:46so i find those and i take my trade to
60. 1:49the next take profit area
61. 1:50the first version of this indicator was
62. 1:53very very simple
63. 1:54it took engulfing candles three line
64. 1:56strikes
65. 1:57and four moving averages the 21 the 50
66. 2:00the 100 and the 200 period
67. 2:02smoothed moving averages now that
68. 2:04indicator wasn't publicly listed but we
69. 2:06had a link
70. 2:06in each video description but now this
71. 2:09new indicator version two
72. 2:11is publicly listed so what you're gonna
73. 2:13do is click the indicators tab
74. 2:15up at the top and you're just gonna type
75. 2:17in
76. 2:18the artie it's gonna be called the arty
77. 2:20the moving average official
78. 2:22indicator by and literally i cannot
79. 2:24thank this person enough
80. 2:25phoenix binary he is a absolute wizard
81. 2:28when it comes to creating indicators
82. 2:31make sure you set it as your favorites
83. 2:32and make sure if you guys really like
84. 2:34this indicator and you like
85. 2:36all of his hard work and dedication i'm
86. 2:38gonna put a link down below to this but
87. 2:40definitely leave a thumbs up right here
88. 2:42on the indicator it helps him out a lot
89. 2:44okay so once you put up the indicator
90. 2:46you'll see how similar it is to the
91. 2:47other one
92. 2:48except there are a few minor differences
93. 2:50we've gotten rid of the 100 period
94. 2:52moving average you can also put it back
95. 2:54on in the settings if you wish i don't
96. 2:56personally like to trade off the 100
97. 2:58it's kind of like an in-betweener for me
98. 3:00so we have the 21
99. 3:01the 50 and the 200. now you guys know
100. 3:04that with my strategy if we are above
101. 3:06the 200 we are looking for buys
102. 3:08and if we are below the 200 we are
103. 3:10looking for cells
104. 3:11and now the 200 period moving average is
105. 3:14dynamic before it used to just be a
106. 3:16solid red color but now it has a
107. 3:18momentum shifting tone
108. 3:20it kind of looks like those fruit by the
109. 3:22foot candies that are tie-dye colored
110. 3:24one they're really tasty and two this
111. 3:26helps
112. 3:27show you the momentum so if you haven't
113. 3:28seen that previous video the basic
114. 3:30concept is this you want a cross past
115. 3:32the 200 and you want it to come up and
116. 3:34re-test the 21 or the 50
117. 3:37and continue the downtrend or the
118. 3:39uptrend your indications of your entries
119. 3:41are gonna be
120. 3:42these big-ass candles whether it's a
121. 3:44three-line strike candle meaning that
122. 3:46there's three subsequent
123. 3:47bullish and then one engulfing bearish
124. 3:50or
125. 3:50it's just an engulfing meaning it
126. 3:52engulfs the previous candle
127. 3:53so you want that rejection off of that
128. 3:55moving average and then a trend
129. 3:57continuation
130. 3:58your stop-loss is going to be about 2x
131. 4:00the size of that engulfing candle
132. 4:02and then your take profit is 4x that
133. 4:04engulfing candle 2-1 risk to reward
134. 4:06ratio
135. 4:07that was the normal setup and that would
136. 4:08have looked something like this you get
137. 4:10the engulfing candle your stop
138. 4:12loss is 2x that engulfing candle and
139. 4:14your take profit
140. 4:16is 4x haha 4x but with this new momentum
141. 4:19cloud in between the 20 and the 50
142. 4:22moving average
143. 4:23it'll actually show you a hue of red
144. 4:25showing you the strength of the momentum
145. 4:27of that move
146. 4:28letting you hold your trade longer
147. 4:30instead of just a two to one risk to
148. 4:32reward ratio so you could have actually
149. 4:34held your trade
150. 4:35down to here when we started seeing a
151. 4:38loss of momentum
152. 4:39and a color change in the cloud then as
153. 4:41the momentum starts shifting the other
154. 4:43way
155. 4:44the red line turns to an orange and then
156. 4:46a green
157. 4:47showing that bullish momentum is
158. 4:49returning so i got this indicator last
159. 4:52night at i don't know just before i was
160. 4:54going to bed
161. 4:55and so i put it up on the five-minute
162. 4:57chart because five-minute scalping
163. 4:58is very common and i tossed it up on
164. 5:01australian dollar u.s dollar because
165. 5:03it's one of my favorite currency pairs
166. 5:05to trade
167. 5:06at that time i saw this big engulfing
168. 5:09candle like this huge
169. 5:1010-pip candle start forming and i was
170. 5:13like cool
171. 5:14let's see how it works i've already got
172. 5:16my chart marked up
173. 5:17and then i saw this trend line right
174. 5:19here being broken with that
175. 5:22big ass candle at that point i see the
176. 5:24clouds start turning green
177. 5:26so i got in on my entry right here and
178. 5:29when i'm trading reversals
179. 5:31i'm always targeting the next moving
180. 5:32average and so here
181. 5:34i simply targeted the 200 and i know at
182. 5:36that point it's dynamic and it's coming
183. 5:38down towards the price
184. 5:39so i just let it run overnight because i
185. 5:41know asian session doesn't have that big
186. 5:43of a move
187. 5:44and sure enough when i woke up i closed
188. 5:46the trade and this was the profit i know
189. 5:48it's a .01 but i wanted to test it on a
190. 5:50very very small size
191. 5:52trade but still it's like 13 15 pips or
192. 5:55something from my recollection
193. 5:57which is great because you've already
194. 5:58analyzed your chart you've got your
195. 6:00trend line on there you traded your big
196. 6:02ass candle
197. 6:03you see that it's gonna move through the
198. 6:04moving average and you just scalp that
199. 6:06move between the 50 and the 200
200. 6:0813 pips on a huge lot size is some good
201. 6:11money so let's get into the settings
202. 6:13really quick
203. 6:14you have everything perfectly labeled
204. 6:16you can actually
205. 6:17change your moving averages from
206. 6:19smoothed which is what i prefer
207. 6:21to simple exponential weighted
208. 6:23everything you can change the period of
209. 6:26each one of these moving averages if you
210. 6:27so choose
211. 6:28i like to use these now with the big ass
212. 6:31candles
213. 6:32and the three line strike the big-ass
214. 6:33candle is just an engulfing candle
215. 6:35there's an option to make them strict so
216. 6:37with a three-line strike
217. 6:39strict on a three-line strike means that
218. 6:41that last
219. 6:42engulfing candle actually engulfs all
220. 6:44three previous candles
221. 6:46so you will get less signals but they
222. 6:48will be
223. 6:49more substantial same with the big ass
224. 6:51candle strict is
225. 6:52fully engulfing that previous candle
226. 6:54like a nice
227. 6:55engulfing just eating that one i'm gonna
228. 6:58get into the trade management in a
229. 6:59second but i wanna
230. 7:00show you the back testing features so
231. 7:02you're gonna have basically a cloud
232. 7:04around the session that you prefer
233. 7:06whether it's tokyo session london
234. 7:08session or new york session
235. 7:09and you can set certain days of the week
236. 7:11that you trade and only have it
237. 7:13say on tuesday wednesday and thursday
238. 7:16avoiding monday and friday
239. 7:18and also right here down at the bottom
240. 7:20if you do take screenshots of your chart
241. 7:22you can actually show the logo and on
242. 7:25the bottom corner here it's going to
243. 7:26show the moving average with the link to
244. 7:28the youtube channel to show your
245. 7:30support for the channel and when you
246. 7:32share your screenshots okay so one of
247. 7:34the biggest and best
248. 7:35new features of version 2.0 is this
249. 7:38chart
250. 7:38up here on the top right hand corner i
251. 7:41wanted an atr
252. 7:42indicator an average true range built
253. 7:45into this indicator
254. 7:46to show you at that time the average
255. 7:49true range and if you haven't seen my
256. 7:51how to set your stop loss video
257. 7:52i talk about the atr in there you can
258. 7:54watch it right here but essentially you
259. 7:56want to take your atr
260. 7:57and either multiply it by 1.5 or 2
261. 8:00because it shows you the true range at
262. 8:02that time
263. 8:03how big that candle might go up and down
264. 8:06so keeping your stop loss
265. 8:08at 2x the atr is going to be a good way
266. 8:11to set your stop loss
267. 8:13and it also gives you some other
268. 8:14information so if you do
269. 8:16see your big entry candle okay just to
270. 8:19fully clarify this
271. 8:20the stop loss right here is going to be
272. 8:23an atr multiplier so if you
273. 8:26take 2x the atr so on the five minute
274. 8:29chart right here
275. 8:30the atr is 3.3 which is 3.3 pips
276. 8:34so if your stop loss is 2x your atr
277. 8:38at that time it's gonna give you the
278. 8:39number for that to put in as your stop
279. 8:41loss
280. 8:42break even is going to be a multiplier
281. 8:45of the atr so you need to calculate how
282. 8:48much commission
283. 8:49and what your spread is on most if not
284. 8:51all of the currency pairs that you are
285. 8:53trading
286. 8:53you'll have to fine tune this to your
287. 8:56broker specifically and your risk to
288. 8:58reward you can keep it as a one to one
289. 9:00or a
290. 9:00two to one which i prefer for all of my
291. 9:02scalping trades
292. 9:03but keep in mind you can also use this
293. 9:05as a swing trading indicator
294. 9:07and take much longer positions getting a
295. 9:10higher risk to reward like a one to five
296. 9:12so if i set this all up with my stop
297. 9:14loss being two times my atr
298. 9:16my break even being 0.4 of the atr
299. 9:19because my spreads are really really low
300. 9:21on my broker
301. 9:22and a one to four risk reward ratio you
302. 9:24can see now
303. 9:25these positions if i entered either a
304. 9:27long or short position
305. 9:28on this candle this would be my target
306. 9:31for
307. 9:32my current risk to reward this would be
308. 9:34my break even which means the price
309. 9:36would have to get to that point in order
310. 9:38for me to have a zero balance trade
311. 9:40this is your entry and this is your stop
312. 9:42loss so
313. 9:43at a glance you have this information
314. 9:45ready for you
315. 9:46so like most people we do all of our
316. 9:49analysis on
317. 9:50trading view and then we take out mt4 on
318. 9:52our phones
319. 9:53and enter our trades that way here you
320. 9:55have your take profit you have your stop
321. 9:56loss you have everything
322. 9:57set and then you can either click buy or
323. 9:59sell depending on which direction you're
324. 10:01trading this table right here
325. 10:03gives so much value to this indicator
326. 10:05and honestly it makes it a game-changing
327. 10:07indicator all of the information is
328. 10:09there for you guys
329. 10:10you see your entry candle with the big
330. 10:12engulfing the big ass candles
331. 10:14or the three lines strike and if you set
332. 10:17everything up with the spreads from your
333. 10:18broker
334. 10:19and the atr indicator on here it shows
335. 10:21you every single
336. 10:23number you should enter in on your trade
337. 10:25and if you guys are using this
338. 10:27on mobile it can actually make the chart
339. 10:30smaller for you you just click
340. 10:32the phone drop down right here on the
341. 10:34size
342. 10:35and it'll give you one column whether
343. 10:38you're only looking for
344. 10:39long positions or whether you're only
345. 10:41looking for short positions through this
346. 10:44toggle option right here it's super
347. 10:46customizable i mean you can even adjust
348. 10:48where you want it on your screen in the
349. 10:49middle on the top on the bottom
350. 10:51right left anywhere so if you guys are
351. 10:53looking for a great scalping indicator
352. 10:55this is free it's in the public library
353. 10:58i'm gonna have it linked down below
354. 10:59essentially you're trading with the
355. 11:00trend you're trading engulfing candles
356. 11:03off of moving averages going with the
357. 11:05trend now if you're scalping reversals
358. 11:07you want to see a loss of momentum a
359. 11:10color shift
360. 11:11in between these two smooth moving
361. 11:13averages
362. 11:14and you want to target that 200. once
363. 11:16you get these huge momentum shifting
364. 11:17candles and the moving averages start
365. 11:19swooping
366. 11:20you can get in on your position here
367. 11:22take profit right here just like i did
368. 11:23on my practice trade last night
369. 11:25and it works out really really well and
370. 11:27if you guys aren't aware there's also
371. 11:29a tma divergence indicator that's going
372. 11:31to be linked down below it is not in the
373. 11:33public library yet because we're still
374. 11:35finishing
375. 11:35up version two i say we i mean phoenix
376. 11:38and here you get a great rsi with a
377. 11:41floating moving average in between it it
378. 11:42also
379. 11:43shows you bullish and bearish
380. 11:45divergences as well as hidden
381. 11:46divergences
382. 11:48bullish and bearish once version 2 is
383. 11:50done i will be doing a follow-up video
384. 11:52on that
385. 11:52but this alone right here is going to
386. 11:54help you with your entries on your
387. 11:55trades if you get a bullish divergence
388. 11:57and a big ass candle
389. 11:59you're good to go on a scalp and if you
390. 12:01guys want to learn how to spot
391. 12:02divergences
392. 12:03on your own without this indicator check
393. 12:05out this video that i did right here on
394. 12:07divergences
395. 12:08it is very very good and if you guys got
396. 12:10some value out of this video and you
397. 12:12like the way that i teach consider
398. 12:13subscribing to the channel
399. 12:15by clicking this button right here don't
400. 12:17forget to show your support on phoenix's
401. 12:18new indicator by leaving a like
402. 12:20on that as well as a like on this video
403. 12:22thanks so much for watching and we'll
404. 12:24see you in the next one