Indicators and strategies are something that has been part of Tradingview ever since.
Different individual has contributed to building up the indicator library. Without any doubt, these are useful when it comes to having a look and taking a position in the market.
I am sure, many people know about the Exponential moving averages, and all. However, there is a tool I saw on twitter, which @incomesharks mentioned some months ago.
It is called Supertrend
I have been using it for a while now and I have to say it is one of the tools that can predict the trend to an accuracy of 70%.
This tool is not standalone for taking trades, but it can hugely assist in your trading.
The Indicator is a public and free one, so it is available for anyone to try it out. However, it has some settings to modify and backtest. The right setting will increase your chance of making good trades and the timeframe at which you can take each trade is also something worth considering.
Personal Opinion
I have been using it for BTCUSD trading and it has been a great tool. However, like I said no one indicator is sufficient. I use this tool with
- Fibonacci retracements
- Support and Resistance
- Willy
to determine when I take a trade.
In my experience, it is good for spot trading or leverage trading at the very low multiplier.
See some below
Short for the win
https://www.tradingview.com/x/yB0z8EAs/
Long for the win
https://www.tradingview.com/x/cUYQglkQ/
Long for the win also
https://www.tradingview.com/x/7OuOfZ0B/
Now getting crazy
Your understanding of placing stoploss and also backtesting of this Indicator will be of importance here.
https://www.tradingview.com/x/ETKnceN7/
Short for the win
https://www.tradingview.com/x/vV3TnqeJ/
My thought
You can play around with the setting in the Supertrend, backtest it and choose the right factor and period.