Top 5 TradingView Indicators 2022
In this article, we are going to explain the top 5 TradingView indicators the MDX team uses every single day to profitably trade the crypto markets. We will also go through the incredibly accurate indicators the MDX team have built, based on our favourite indicators.
Relative Strength Index (RSI)
The RSI will give you an idea of the momentum of price action of a given asset, helpful for spotting divergences, switches in momentum and changes of trend, whether in crypto or the stock market. For example, when price action is creating higher highs, but the RSI is creating lower lows, it can indicate a potential reversal or change in trend.
Stochastic Relative Strength Index
The Stochastic RSI is a more exponential version of the RSI, putting a lot more weight on the most recent price action. It is much more valuable for scalp trading, and trying to time tops or bottoms. It is read very similarly to the RSI example we gave above. Very reliable for reading bullish and bearish divergences, both on micro and macro timeframes.
Visible Range (VPVR)
The VPVR indicates a visible level on the chart where most of the trading action has taken place. It gives you a volume node, showing how much volume has been traded at each level. It is great for trading support and resistance flips, giving you a great idea of strong support and resistance levels, based on previous influxes of volume. It is dynamic, and changes as new data is added to the market, showing how the market is a magnet to liquidity.
Historical Volatility Percentile (HVP)
This shows what the volatility of the market is at any given time. When it marks high (100) it shows high volatility, when it marks low (10-20) it shows low volatility. It can give you an inkling as to when there may be a break-out. Low volatility for extended periods of time can indicate an upcoming strong move, and therefore high volatility. Coupling volatility and chart pattern recognition is a great way of predicting where and when break-outs may occur.
MDX Signals Indicators (MDX Trading Portal)
Our team has built 4 great Indicators of our own, based on our favourite indicators, and added many more data points, bringing this wide range data together into simplified, easy-to-use indicators.
The most popular is the MDX Advanced Trend v2.3 which prints long short signals, coupled in with exhaustion, stochastic rsi, trending lines, support and resistance levels. It shows when price action is oversold, or overbought, and clearly shows bullish and bearish divergences. This indicator has been backtested and is incredibly accurate.
Another popular one of our indicators is the Oscillator TDI – which shows momentum – if price action is coming down, but the oscillator TDI’s momentum is increasing, it has indicated over time a big move to the upside.
The MDX Advanced Scalp v4 indicator is a fantastic one for scalp trading, giving very precise short-term signals for those who like to get in and out of trades quickly.
The MDX Simple Trend v4 is similar to the MDX Advanced Trend v2.3, but uses slightly different data points and is incredibly useful to contrast with the MDX Advanced Trend v2.3, to add an extra perspective on the market.
With the MDX Trading Portal, you get all 4 of our indicators. The idea behind them is to aid traders to trade the markets more simply, and more profitably.
Find out more, and join the MDX Trading Portal by clicking here.