3 Best Tradingview Indicators To Use NOW!!!

Dear Traders

Are you feeling overwhelmed by the sheer number of indicators available on TradingView? It can take time to figure out which ones are the most effective, so I've put together a list of the best indicators to enhance your trading in this article. All the indicators mentioned are built into TradingView and don't require third-party payments. I've personally used all of them throughout my trading career. Here are my top three favorites:

Ichimoku Clouds

This dynamic trend-following indicator includes several moving average lines and comprises five lines and a "cloud" created by two of these lines' interaction. A green cloud indicates an uptrend, while a red cloud indicates a downtrend. You can also use the crossovers of the baseline and conversion lines, similar to a 9EMA and a 26EMA, to determine entry and exit points. The Ichimoku Cloud helps you easily identify trends and make trading decisions based on TK crossovers.

Auto Fib Retracement

The Auto Fib Retracement indicator automatically plots Fibonacci retracement levels on a chart, helping traders identify potential support and resistance zones based on key Fibonacci ratios (23.6%, 38.2%, 50%, 61.8%, and 78.6%). While many traders draw these lines manually, the Auto Fib tool saves time and provides retracement levels across multiple time frames. You can also adjust the depth if the lines are too close to the current stock price.

Relative Strength Index (RSI)

The RSI is a widely used tool to determine whether an asset is overbought or oversold. It is a momentum oscillator that measures the speed and change of price movements on a scale from 0 to 100. An RSI reading above 70 typically indicates that a stock is overvalued, while a reading below 30 suggests it is undervalued. However, it's best to use RSI in conjunction with other indicators to determine the best entry and exit points. The RSI is calculated based on an asset's price movements over a set period, typically 14 days, and compares recent gains to recent losses to gauge the speed and change of price movements.

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