New Buy Sell Indicator Beats All Indicators On Tradingview!

in this video we're going to talk about a super powerful buy and sell indicator that you can use to identify buy and sell entry points in the market we're going to combine this indicator with other technical trading tools to create a super profitable trading system if you happen to find Value in this video remember to leave a like let's get into it so this indicator is called range filter by and cell to add it to your chart you first of all want to go to trading view which is the charting platform that I'm going to

be using if you need to sign up the link for that will be in the video description and then load any trading security that you like for this video I'm going to be using the 5 minute time frame of gbpjpy because this indicator is designed for the 5 minute time frame after that click on indicators then type in range filter buy and sell and you're going to select this one created by this guy so the range filter buy and sell indicator is actually not an indicator it's a p script strategy code designed for the 5

minute time frame you can see here the strategy tester says that this is actually a losing strategy which means using this strategy on its own isn't going to make you any money that is why we're going to combine it with other technical analysis tools to create a strategy that would be profitable instead of you know losing to do that we first of all want to go over this indicator's components as you can see here this indicator creates a range around the price and then as soon as the price breaks outside of that range it prints

a buy or a sell signal depending on the direction of the breakout if it's an upward breakout like here the indicator is going to print a Buy Signal and that is where you're going to look to enter your long positions now if you look at this indicator closely you will realize that these buy and sell signals are going to be delayed by one or two candles which means instead of entering the long positions here we're going to enter on the close of this next Candle One Candle after the signal candle itself and then for a

short position the indicator needs to identify a market range and then the price needs to break below that range like it did right here and again the sell signal is going to be delayed by one or two candles in this particular trade example we can see that it was delayed by one candle which makes this candle our entry point now in in order to turn this from a losing strategy to a profitable strategy we need to add two more indicators to the Chart but before we do that we're going to double click on it so

we can change some settings on the style tab we want to disable the range filter the high Target the low Target and then down here we're also going to disable the high target range the low target range trace on chart signal labels and quantity after all that click okay then open the indicator search Tab and type in liquidity weighted moving averages and you're going to select this one created by algo Alpha next type in MD this one called moving average convergence Divergence then double click on the macd indicator then on the stle tuab you want

to disable the macd line and the signal line options after that click okay for the liquidity weighted moving average indicator we're going to double click on it and then on the inputs tab you want to change the fast ma length to 100 and and then for the low ma length we're going to go with 200 after that click okay the liquidity weighted moving averages indicator is going to be used for Trend identification whenever it's colored teal like here this indicates a bullish Trend and we're only going to be looking to take long positions on the

other hand whenever the liquidity weighted moving average indicator is colored red like here this indicates a bearish trend and so we're only going to be looking to take short positions then finally the macd indicator is a momentum indicator we're going to be using it to ensure that there is enough bullish or bearish momentum in the market to take long and short positions now speaking of taking positions how can we take long and short positions using these three indicators combined well I'm going to show you but before that let's talk about the Forex broker called fentura

now I've been using fentura for quite some time as you can see here this is my Live account on mt4 yes mt4 is the trading platform used by fentura the reason why I think fentura is a great broker is because of their low commissions as well as spreads that go as low as 0.0 Pips they also have a maximum leverage of 1 to 500 you know for those of you who love High leverage if all of this isn't enough they're also going to give you a 100% deposit bonus for all your first deposits of between

$100 all the way to $50,000 so if you deposit say $5,000 they're going to give you a bonus of $5,000 so in total you're going to have $10,000 to trade with to access the bonus as well as all the other perks sign up to fentura using the link in the video description now let's get back to the video now at this point in time I know you may be thinking but how can we take long and short positions using these three indicators that we have here well let me show you to take a long position

first we need to confirm that the market is in a bullish trend for that we're going to use the liquidity weighted moving average indicator by algo Alpha we need this train ribbon to be colored teal and the price to be trading above it this indicates a bullish Trend condition number two is that we need a Buy Signal to be printed by the range filter buy and sell indicator this indicates a shift in Market momentum from bearish to bullish the third condition is to use the macd indicator to further confirm the presence of this bullish momentum

in the market we need the last macd histogram to be colored heal like this to indicate the presence of enough bullish momentum in the market to push the price all the way to take profit the last condition is to confirm that the entry candle opened and closed above the trend ribbon of the liquidity weighted moving average this is going to prevent us from taking trades when the market is ranging all our entry conditions are met on this scandle so we're going to enter a long position here we're going to set our stop loss just below

the most recent swing low and for for the take profit we're going to Target 1.5 times the risk letting this trade run and as you can see it hits St profit now here is another long position as you can see the liquidity weighted moving average was colored teal indicating a bullish Trend and then a Buy Signal was printed indicating a shift in Market momentum from bearish to bullish to confirm the bullish momentum we use the macd indicator and as you can see the last macd Instagram bar was colored teal lastly the entry candle opened and

closed above the trend ribbon of the liquidity weighted moving [Music] average now that we've taken two long positions you may be thinking but how do we take a short position well we're basically going to be doing the opposite of everything we did for the long positions let me show you the first condition is to confirm that the market is in a bearish trend for that we're going to be using the liquidity weighted moving average indicator by alga Alpha we need this trend ribbon to be colored red and the price to be trading below it this

indicates a bearish trend condition number two is that we need a sell signal to be printed by the range filter buy and sell indicator this indicates a shift in Market momentum from bullish to bearish the third condition is to use the macd indicator to further confirm the presence of this bearish momentum momentum in the market we need the last macd histogram bar to be colored red like this to indicate the presence of enough bearish momentum in the market to push the price in the direction of our trade the last condition is to confirm that the

entry candle opened and closed below the trend ribbon of the liquidity weighted moving average this is going to prevent us from taking trades when the market is consolidating all our entry conditions are met on this candle so we're going to enter a short position here we're going to set our stop loss just above the most recent swing high for the take profit we're going to Target 1.5 times the risk letting this trade run and as you can see it hits take profit in summary the range filter buy and sell indicator is a sophisticated trading tool

designed for identifying Market Trend and momentum shifts on the 5 minute time frame by integrating it with the liquidity weighted moving average and the the macd indicators Traders can refine entry and exit points for both long and short positions significantly improving their trading outcomes if you want to check out this indicator on trading view you can just access the indicator search Tab and type out its full name feel free to play around with it and see what other strategies and settings you can come up with well that's basically it for this video I hope you

found some value if you did hit the like button below and consider subscribing to stay tuned thanks for watching see you next time