TradingView is one of the most popular and powerful platforms for traders and investors. It offers many features, such as advanced charting tools, technical analysis, market data, social trading, and more. One of the most useful features of TradingView is its huge library of indicators. Indicators are mathematical formulas that analyze price and volume data and display them on the charts. Indicators can help traders identify trends, patterns, signals, support and resistance levels, and other market information. However, with thousands of indicators available on TradingView, choosing the best ones for your trading style and strategy can be overwhelming and confusing. That’s why we have compiled a list of the best TradingView indicators for 2023 that can help you improve your trading performance and results.
These indicators are based on popularity, functionality, versatility, and reliability. They can be used by crypto traders for different types of trading, such as day trading, swing trading, scalping, and long-term investing. They can also be applied to various markets, such as stocks, forex, crypto, commodities, and indices.
Without further ado, here are the best TradingView indicators for 2023:
1. Volume Profile HD
The Volume Profile HD indicator is one of the best indicators for analyzing supply and demand on TradingView. It shows the volume distribution at different price levels over a given period. This allows traders to see where the most buying and selling activity occurs, which can indicate areas of strong support and resistance.
The Volume Profile HD indicator can also help traders identify value areas, which are price ranges where most of the volume is traded. Value areas can indicate where the market perceives the fair price of an asset. Traders can use value areas to find potential trade entry and exit points.
The Volume Profile HD indicator can be used in any time frame and market. It can also be customized to show different types of volume profiles, such as session volume profile, fixed range volume profile, visible range volume profile, and more.
You need to have a paid subscription to use the Volume Profile HD indicator on TradingView. However, you can also access a free version of the indicator called Session Volume Profile HD(liberatedstocktrader.com).
2. VWAP
The VWAP (Volume Weighted Average Price) indicator is one of the best volume indicators on TradingView. It calculates the average price of an asset-weighted by the volume traded at each price level over a given period. It plots a line on the chart that represents the VWAP.
The VWAP indicator can help traders identify the trend direction and support and resistance levels. When the price is above the VWAP line, it indicates an uptrend. When the price is below the VWAP line, it indicates a downtrend.
The VWAP line can also act as a dynamic support or resistance level. When the price approaches the VWAP line from above or below, it can bounce off or break through it depending on the trend’s strength and volume.
The VWAP indicator can be used for intraday trading or longer-term analysis. It can also be combined with other indicators or tools, such as moving averages or Fibonacci retracements(tradamaker.com).
3. Technical Ratings
The Technical Ratings indicator is one of the best indicators for getting an overview of the market sentiment on TradingView. It summarizes various technical analysis indicators and signals based on different time frames. It assigns a rating to each indicator and signals from 0 to 10, where 0 is bearish, and ten is bullish.
The Technical Ratings indicator can help traders quickly assess the strength and direction of the trend, as well as potential reversal points. It can also help traders compare different assets or markets based on their technical ratings.
The Technical Ratings indicator can be used for any market and time frame. It can also be customized to show different technical analysis indicators and signals, such as moving averages, oscillators, trend indicators, volatility indicators, and more.
4. MOSES
The MOSES (Moving Oscillator Support and Resistance) indicator is one of the best indicators for identifying support and resistance levels on TradingView. It uses moving averages and oscillators to plot horizontal lines on the chart that represent potential support and resistance zones.
The MOSES indicator can help traders find optimal entry and exit points for their trades and stop-loss and take-profit levels. It can also help traders identify trend changes and breakouts.
The MOSES indicator can be used for any market and any time frame. It can also be customized to show different types of moving averages and oscillators, such as simple moving averages (SMA), exponential moving averages (EMA), relative strength index (RSI), stochastic oscillators, and more.
5. Supertrend
The Supertrend indicator is one of the best indicators for trend following on TradingView. It plots a line on the chart that follows the direction of the trend and changes color when the trend reverses. It also plots dots above or below the price bars that indicate potential buy or sell signals.
The Supertrend indicator can help traders capture the market’s major moves and avoid false signals. It can also help traders determine the optimal trailing stop level for their trades.
The Supertrend indicator can be used for any market and any time frame. It can also be customized to show different parameters, such as period, multiplier, source, and offset.
6. ATR
The ATR (Average True Range) indicator is one of the best indicators for measuring volatility on TradingView. It calculates the average range of price movement over a given period. It plots a line on the chart that represents the ATR value.
The ATR indicator can help traders gauge the risk and reward potential of their trades and adjust their position size and stop-loss level accordingly. It can also help traders identify the breakout and consolidation phases of the market.
The ATR indicator can be used for any market and any time frame. It can also be customized to show different parameters, such as period, source, smoothing method, and multiplier.
7. Automated Chart Pattern Recognition
The Automated Chart Pattern Recognition indicator is one of the best indicators for spotting chart patterns on TradingView. It scans the chart for various patterns, such as triangles, wedges, flags, pennants, head and shoulders, double tops and bottoms, and more. It draws the pattern on the chart and labels it with its name.
The Automated Chart Pattern Recognition indicator can help traders identify potential trading opportunities based on classic chart patterns. It can also help traders confirm their analysis and avoid missing important patterns.
The Automated Chart Pattern Recognition indicator can be used for any market and time frame. It can also be customized to show different chart patterns, such as reversal patterns, continuation patterns, harmonic patterns, candlestick patterns, and more.
FAQ
TradingView is a popular and powerful platform for traders and investors. It offers many features, such as advanced charting tools, technical analysis, market data, social trading, and more.
Indicators are mathematical formulas that analyze and display price and volume data on the charts. Indicators can help traders identify trends, patterns, signals, support and resistance levels, and other market information.
TradingView has thousands of indicators available on its platform. They can be divided into four main categories: built-in indicators, public library indicators, user-created indicators, and volume profile indicators.
You can access indicators on TradingView by clicking on the “Indicators” button on the main toolbar or typing “/” on your keyboard. You can then browse or search for the indicators you want to use and add them to your chart.
You can customize indicators on TradingView by clicking on the gear icon next to the indicator name in the chart legend. You can then adjust the indicator’s parameters, colors, styles, and visibility according to your preferences.
The best TradingView indicators for 2023 are Volume Profile HD, VWAP, Technical Ratings, MOSES, Supertrend, ATR, and Automated Chart Pattern Recognition. These indicators are based on popularity, functionality, versatility, and reliability.
Volume Profile HD is an indicator that shows the volume distribution at different price levels over a given period. It can help traders identify areas of strong support and resistance and value areas.
VWAP (Volume Weighted Average Price) is an indicator that calculates the average price of an asset-weighted by the volume traded at each price level over a given period. It can help traders identify the trend direction and support and resistance levels.
Technical Ratings are an indicator that provides a summary of various technical analysis indicators and signals based on different time frames. It can help traders quickly assess the strength and direction of the trend and potential reversal points.
MOSES (Moving Oscillator Support and Resistance) is an indicator that uses a combination of moving averages and oscillators to plot horizontal lines on the chart that represent potential support and resistance zones. It can help traders find optimal entry and exit points for their trades.
Supertrend is an indicator that plots a line on the chart that follows the direction of the trend and changes color when the trend reverses. It can help traders capture the market’s major moves and avoid false signals.
ATR (Average True Range) is an indicator that measures the average range of price movement over a given period. It can help traders gauge the risk and reward potential of their trades and adjust their position size and stop-loss level accordingly.
Conclusion
TradingView is a great platform for traders and investors who want to access advanced charting tools, technical analysis, market data, social trading, and more. However, to make the most out of TradingView, you need to use the best indicators that suit your trading style and strategy.
This article lists the best TradingView indicators for 2023 that can help you improve your trading performance and results.
0 Comments