The Most Powerful Tradingview Buy/Sell Indicator

In this article, we will discuss one of the most powerful buy/sell trade display indicators. We will provide information on how to use this trading indicator.

The trading indicator that we will discuss in this article is the "ut bot indicator" besides that we will use the "EMA 200" indicator which functions as a trend filter indicator.

In this article there are several things that we will learn including the following:

How to install the "ut bot" indicator
How to place the "EMA 200" indicator
How to read trading signals when using the ut bot and "EMA 200" indicators

How to Install "Ut Bot" Indicator

For how to install the "ut bot" indicator, first open your trading chart. In this article, we will use XAU USD or gold chart with an hour time frame. The reason we use this indicator on the XAU USD trading chart is, it works well on the XAU USD chart.

UT BOT Indicator

Once your trading chart is ready, click on the indicators menu at the top of the search field and write "Ut bot". And the ut bot indicator will appear, then the display will appear more or less like the image below.

UT BOT Indicator

if so, please close the search menu, now you have successfully placed the ut bot indicator on your trading chart.

To make it more convenient to use, we can set this indicator. The first way, please click the settings menu on the ut bot indicator, the next step is to click the style menu on the ut bot indicator. after that please turn off the trailing stop option, if it is click ok in the lower right corner. if you do the steps correctly then your trading chart will look like this.

How to Place the 200 EMA Indicator

In this discussion, the "EMA 200" indicator serves as a trend filter. how to place the "EMA 200" indicator, first click the indicator menu above the search menu. Please write down the exponential moving average, then click on the exponential moving average indicator option. After that close the search menu, then change the length of the period from nine to 200.

After you finish changing the length of the EMA indicator, click the style menu then adjust the color you want in the EMA option. Then change the thickness of the EMA line using the thickness of line number three from the left, the reason why we change the thickness of this line?. The reason is to make it easier for us to see the 200 lines that we place. If so please return to your trading chart.

The way the ut bot trading indicator works is actually very simple. We will make a buy entry when the green candle and label appear on our trading chart. Meanwhile, you will make a cell entry when a red candle and cell label appear on your trading chart.

However, for this trading strategy, We will add the “200 EMA” indicator which has a role as a trend filter indicator. This means we will make a buy entry when the green candle and the buy label appear then the price position is above the "200 EMA" line.

Instead, we will enter the cell when the red candle and the cell label appear, then position the price below the "EMA 200" line. So with the help of the “200 EMA” line, the winning rate of this trading strategy will increase.

How to read trading signals when using the ut bot and "EMA 200" indicators

To make it easier for you to understand what We said above, We will give examples of "BUY" entry rules with exit rules as well as "SELL" entry rules and "SELL" exit rules.

Example for with "BUY" entry rule and the "BUY" exit rule.

Place your take profit with a value twice as large as the stop loss value. This trading strategy uses one to two ratios.

Examples of the "SELL" entry rule and "SELL" exit rule.

As we can see in the picture above that the red candle and cell labels appear, also the current price position is below the "200 EMA" line. It is the right time to make a cell entry, we can set our stop loss at a swing high, then place our take profit with a value twice as large as the stop loss.

That's the strategy that we can share in this article, hopefully, you can understand what we're telling you. Be wise in using any strategy. Remember trading has a very high risk.