Pivot Points with TDI ProI am going to show you how to use Pivot Points with TDI to make the best use out of the three powerful indicators: Hull Moving Average, Fibonacci Pivots, and TDI indicator.
Tradingsystem
First Loss In 2 Months - Important LessonWe just took our first trading loss in two months on the GBPJPY short that we initiated a couple of days ago. I always welcome losses when they are controlled and within the confines or our trading system , which this GBPJPY short was.
Why is that?
Because I know that every loss is one trade closer to the next big win. And having a 81% success rate since the last loss at the end of May 2019 tends to make any loss much more bearable ;)
How do we remain unwaiveringly confident even in the face of losses? Easy. Trade with a system that has a proven edge. Not over one month. Not two month. Not even just one year, but a system that has a consistent track record over at least two years of backtesting. It should be rooted in sound technical analysis so that you know the odds are always in your favor when you place that next trade.
Because we have so much data for this system we know all the stats related to it. Therefore we will start experimenting with even bigger position sizing in a separate "High Risk" account. It will ask to stomach much bigger drawdowns but for much bigger returns as well.
More to follow, be safe and good luck!
How to trade news eventsHi traders,
news events are market situations with strong price movements and can give as fast good profits.
But if when you use the wrong way to set your oders and maybe trade in the wron direction then you
can lose a lot of money if you have not a good exit strategy.
This picture show you how you have to trade the news with limit orders.
I wish you a good trading week.
Stefan Forex
Create your own trading system: entry point # 8We continue to explore different points of entry into the market.
Today I want to show you a complex entry point that arises from the analysis of stochastic cycles.
As you know, the Stochastic indicator shows overbought and oversold zones. But, personally to me, he helps to find important levels of support and resistance.
The essence of the theory of stochastic cycles
The movement of the Stochastic indicator between zones 80 and 20 displays the beginning and end of the wave (impulse, or mini-trend). But, my observation showed that it is necessary to take into account not all the intersections of zones 20 and 80 with the Stochastic indicator.
The secret of the practice of using stochastic cycles
And the secret is simple: you need to take into account only those highs or lows of the price at which the stochastic indicator began its journey from zone 80 to zone 20 (down), or from zone 20 to 80 (up).
That is, we do not know when the growing price movement will end until the stochastic, starting from 20, comes to 80, and decreases back to 20 (the bullish stochastic triangle). Also with a falling motion, it will end when the stochastic crossed the zone 80, dropped to 20, and returned back to 80 (bearish stochastic triangle).
Support and resistance levels
As you can see on the EURUSD chart there are a lot of highs and lows in prices. There are many different methods of applying support and resistance levels.
Personally, I like my method - drawing support and resistance levels according to the highs and lows of the stochastic cycle.
The reversal line is the level of the stochastic maximum or minimum, which, as a rule, occurs at the base of the previous pulse. The logic is simple: if the price was able to absorb the previous movement, then a turn in the opposite direction is likely.
How to trade
There are several regularities for entering a trade in stochastic cycles.
1. Bullish and bearish triangle
We waited for the stochastics from 20 to rise to 80, and to fall to 20, entry into the purchase.
We waited until the stochastic dropped from 80 to 20, and rose to 80, the entrance to sales.
2. Retest level
We buy if the price has returned to the previous top of the stochastic cycle.
We sell if the price has returned to the previous low of the stochastic cycle.
3. Entrance to the rebound from the pivot line
We buy when the price bounces from the reversal line.
We sell when the price bounces from the reversal line.
Indicators:
Stochastic, 15.3.3.
Timeframe: H1
Currency: EURUSD
Personally, I only trade the retest level - this is a more likely signal.
Rules for entry into position:
We buy if:
The Stochastic has formed a bullish triangle;
We are waiting for the price to fall to the previous top of the stochastic cycle, we enter the buy.
We Sell if:
Stochastic shaped bearish triangle;
We are waiting for the price to rise to the previous low of the stochastic cycle, we enter the sell.
Exit position:
You can use a fixed profit, or trailing stop.
Create your own trading system: entry point # 6We continue to study simple market entry points with you.
It is very difficult to find the direction of price movement in the Forex market. That is why the indicators of the triangulation of the moving average look very good in practice. The difference between triangulation MA (TEMA) and simple MA is obvious.
Indicators:
TEMA, 100.
Williams% R, 5, hlc3.
Timeframe: D1
Currency: EURUSD
The essence of the idea: the search for points when the price returns to the indicator TEMA.
The TEMA indicator shows us the priority direction of opening deals. He very well shows the turning points, and the edges of the flat. And we will look for the entrances to the market using the Williams% R indicator.
Rules for entry into position:
We buy if:
The price approached the TEMA indicator from above;
We are waiting for the Williams% R indicator to cross the -80 values from bottom to top, and buy.
We sell if:
The price approached the TEMA indicator from below;
We are waiting for the Williams% R indicator to cross the top-down values of 20, and sell.
Exit position:
The exit from the transaction can be the opposite signal of the intersection of their zones indicator Williams% R. You can use a fixed profit, or trailing stop.
Identify Impulse and Corrective MovesMarket moves can generally be categorized as either an IMPULSE move or a CORRECTIVE move.
A fast and strong move is described as an IMPULSE move.
A slow and weak move is described as a CORRECTIVE move.
Practical Exercise
1) Pick any currency pair, any timeframe, and identify the IMPULSE and CORRECTIVE moves on the chart.
2) Draw a line on the IMPULSE move; draw a box on the CORRECTIVE move.
3) Post your chart on the comment section below.
4) Repeat this practice on 2 other currency pairs.
Create your own trading system: entry point # 5We continue to study with you the simple market entry points.
Today I would like to show you a very easy pattern for making money on the movement of the exchange rate - entry after a price rollback.
Indicators:
MACD 4C with a period of 8, 100.
Timeframe: M15
Currency: EURUSD
The essence of the idea: the search for entry points after the impulse, at the end of the price rollback.
This idea is very simple to understand: you need to wait for a strong impulse up or down, then wait until the end of the price rollback, and enter in the direction of the previous impulse.
Rules for entry into position:
We buy if:
MACD 4C was green for more than 9 bars (impulse up);
MACD 4C draws red histograms of more than 6 bars (case 1);
After that we draw a resistance line at closing prices (see line chart).
We enter into purchases on the breakdown of the resistance line (Case 2).
We sell if:
MACD 4C was red for more than 9 bars (impulse down);
MACD 4C draws green histograms greater than 6 bars (case 1);
After this, we draw a support line at closing prices (see line chart);
We enter sales on the breakdown of the support line (Case 2).
Exit position:
The exit from the transaction can be at a fixed profit, or use a trailing stop.
Create your own trading system: entry point #4We continue to look for your entry points into the market.
I bring to your attention an effective pattern of work in the flat. Traders who work in both directions name a swing - traders.
Indicators:
CCI with a period of 100, hlc3, levels 100 and -100.
Timeframe: H4
Currency: EURUSD
The essence of the idea: the search for entry points in the flat, after the breakdown of the trend line.
Once again I remind you: you need to look for deals only after the breakdown of the trend line, otherwise there will be too many unnecessary signals to enter. If the trend line is broken, the trend line may expand, so a flat is likely.
Rules for entry into position:
We buy if:
The price is near the support level;
The CCI indicator shows two touches of the -100 zone (case 1);
We enter the purchase at the intersection of the indicator CCI zone -100 bottom-up.
We sell if:
The price is near the resistance level;
The CCI indicator shows two touches of zone 100 (case 1);
We enter sales at the intersection of the CCI indicator of the zone 100 from top to bottom.
Exit position:
The exit from the transaction can be based on a fixed profit, or on the reverse intersection of the zones with the CCI indicator.
Create your own trading systemA trading system is a set of trading strategies for different phases of the market, or one strategy with a complex way to support transactions.
Trading strategy is a trader action plan.
The structure of the trading system:
1. The choice of a currency pair for work, or several currency pairs.
2. The choice of timeframe for trading, or several.
3. Trading time.
4. Actions to prepare for trade: carrying out technical analysis, viewing the economic calendar and studying important news, viewing the opinions of expert analysts, compiling a trader's journal.
5. Rules for opening positions: the presence of the main signal at the entrance, the search for confirmation signals, an additional signal (if necessary).
6. Rules for the management of capital and risk.
7. Rules of exit from the position: one or more signals to exit.
8. Analysis of transactions: search for errors, deviations from the selected plan, entry in the trader’s journal.
To become a system trader you need to solve a few questions for yourself:
1. What will I earn money on? What financial instrument do I understand: EURUSD or GBPUSD? Will I trade in gold or oil? Will I choose one or more currency pairs?
2. What timeframe will I look at for analysis? If I am a scalper, then M1, M5, M15. If I am a position trader, then D1 and H1. If I am a long-term trader, then - 1M, 1W, D1.
3. What time is convenient for me to work in the foreign exchange market? Will I be sitting in both sessions: American and European, or is it better to trade in the Asian session?
4. What will I look at before trading? What do I need to prepare for trading? Will I watch the news, read the opinions of other traders, view the economic calendar? Will I make a daily trading plan with a forecast of the course of the selected currency pairs? Will I write everything in the trader's journal?
5. What is the main idea (pattern) I trade? Do I have a main input signal? How many signals do I need to enter the market?
6. How much volume do I enter the market? What leverage can I afford? Will I place a stop-loss order? What will I do if my daily trading plan is wrong?
7. What is my signal to exit a position? Will I use partial order closure? Will I trawl my position?
8. Am I a disciplined trader? Do I analyze my mistakes? Do I keep a trader's journal?
To answer all these questions and create your own trading system, you need to try different options, and finally decide what is right for you personally.
In my next training posts I will try to give you the answers to the questions above so that you can find yourself in the Forex market.
Create your own successful trading system!
Comprehensive Trading Strategy - ConsensioDisclaimer: If you are primarily interested in copying other people’s trades then this is not for you. However, if you are willing to put in the work that it takes to learn how to trade for yourself then you have found the right place! Nevertheless please be advised that you can give 10 people a profitable trading strategy and only 1-2 of them will be able to succeed long term. If you fall into the majority that tries and fails then I assume no responsibility for your losses. What you do with your $ is your business, what I do with my $ is my business.
Identify Time Horizon
First and most important is identifying the time frame that you want to trade. I primarily trade the daily chart using Tyler Jenks’ Consensio. It was designed to capture long term trends. If followed it will ensure that you do not miss out on a trend and it will also get you out before it fully reverses.
“We want 90% of the cookie” -Tyler Jenks
There will be times when we cost ourselves a small amount of opportunity but that will be peanuts in comparison to the larger trends that will be captured.
Even though it was designed for higher time frames (TFs), specifically the weekly, it can still be used on smaller TFs based on your understanding and time availability. Decisions need to be made each time a candle closes, therefore you need to be available, or out of all positions, every time that happens.
I trade the daily chart because I know that I will be available every day for the candle close. I also like to trade the stock market, commodities, and FOREX as well as crypto because the daily closes are staggered throughout the afternoon and it gives me time to manage my positions.
If you prefer to day trade then this strategy can be used for the 1m - 1h candles. However it doesn’t seem to be too conducive to anything above 1h, if trading 24/7 markets.
For example: if trading the 4h then will not have enough time for position to develop before going to bed.
Regardless of what TF you select you can zoom out to determine longer term trends, however you should only use one TF for making decisions.
For example: I trade the daily chart and will zoom out to the weekly when I am looking for major reversals. However, if the price is signaling entries on the weekly then that is irrelevant because I make decisions based on the daily chart.
Identify Trend
“The purest form of Consensio is three Moving Averages without the price” -Tyler Jenks
Once you know what time frame you are going to trade then you need a reliable way to identify the trend. I have found Consensio to be the single most powerful tool for recognizing trends (as well as signaling entries, exits and reversals).
It is a system that seems very simple on the surface and potentially even unoriginal. However the deeper you dig the more you will uncover.
To start you need to go to the source directly:
Consensio - A New Trading System
Deep Dive Into Consensio
The notes that I have on it span well over 100 pages and I couldn’t possibly sum that all up in this post. Nevertheless I will attempt to cover the most important parts of the puzzle.
Important: Watch the videos above or else below will not make sense.
I have four subcategories for trending markets that are somewhat similar to Elliott Waves.
1) Short, medium and long term trend all in alignment. For bull trend: price > Short MA > Medium MA > Long MA (Strong trend)
2) Minor Correction (Small pullback moves against overall trend)
3) Major Correction (ABC type of correction that forms lower high but finds support at major boundary levels - Long MA, horizontal or trend line)
4) Potential Reversal (Price closes below long term MA and starts turning it over)
The moving averages should be dialed in to your specific time frame to help identify each subcategory above. When the asset is in a strong trend you want to see the Short Term MA act as support / resistance. A close above / below the Short Term MA indicates a minor correction. When there is a minor correction you want the Medium Term MA to act as support / resistance. A close above / below the Medium Term MA indicates a major correction taking place. When there is a major correction that doesn’t quite reverse the trend then you want the Long Term MA to act as support / resistance. A close above or below the Long Term MA indicates a potential reversal. If in a strong trend then expect price to quickly react from the Long Term MA and continue the trend.
For example: in a bull market the long term MA should act as strong support / provide a strong bounce. If it doesn't and the price closes below it instead then that is an indication that the bull market is getting exhausted.
When the Long Term MA starts to show signs of a reversal then I will add a Longer Term MA (default is 200) and / or I will zoom out to the weekly chart. This really helps me to understand if it is just a major correction within a market that is still trending or if a full on reversal is to be expected.
Being able to distinguish major corrections from reversals is the hardest part about consistently beating the market in the long run. Once you are comfortable with that then it mainly comes down to patience, discipline and diligence in regards to acting on signals and managing risk.
Entry & Exit Signals
5% when Price crosses Short Term MA (default is 4)
10% when Price crosses Medium Term MA (default is 9)
15% when Short Term MA crosses Medium Term MA
20% when Medium Term MA turns over (if it was trending down, then watch for it to turn up)
25% Price cross Long Term MA & Long Term MA flattens / turns over
25% Golden Cross with the Medium Term MA & Long Term MA
If multiple happens at once then sum the %’s.
For Example: P close < S & M MA then enter 15% .
If I am not in position then price crossing MA’s would trigger entries. If I am in a position then it would trigger exits. In rare cases I will flip my position by exiting a short and immediately entering a long, or vice-versa.
Entries and exits are done as soon as possible after the candle closes. I trade the daily chart so I will wait for the daily candle to close before making decisions and then I will try to make sure I get filled within 30 minutes (will take a market order if necessary). If you try to front run the candle close then you will make more mistakes than it is worth. It is very important to only make decisions after the candle closes. Everything else is noise and you cannot make decisions based on noise.
I may pass on signals if it would enter me against a longer term trend.
For Example: Price closes above Short Term and Medium Term MA’s and they cross over in a bullish manner. 30% - 50% long entry signaled. May choose to pass if Long Term MA is bearish.
I can completely pass on this entry in favor of waiting for a short if the price is below the Long Term MA and the Long Term MA is in a strong bear trend. In this case I will expect Long Term MA to act as strong resistance and will wait for price to close back below shorter term MA’s to trigger a short entry.
It takes time to reverse a trend. In the above example the Long Term MA is in a strong bear trend while price appears to be rallying through it after 50% long entry is signaled. I would pass on long entries and be very confident that the price isn’t going to blow right through my Long Term MA (due to the downward angle).
It very well might reverse the trend, however that will take time. If the price is above a Long Term MA that is angled down then the MA will act as a magnet for the price until it flattens / turns over.
Passing on the first long entries that are signaled does not mean that I will pass up on it all together, it just means that I think it is too early / risky. I would strongly prefer to wait for a golden cross with the Long Term MA flattened, or angled up, to go ahead and fully enter. In the example above I would wait for a pullback to the Long Term MA. If it supports above and gets a golden cross with the Medium Term MA then I would be much more inclined to take that entry.
It is very important to understand the difference between opportunity cost vs capitalizing on a loss. As traders we need to be completely comfortable with missing out on opportunity and extremely diligent about avoiding / minimizing losses. Therefore it is okay to pass on possible entries that are less than ideal however it is not okay to pass up on exits that feel similar.
Stop Losses & Risk Management
I determine my position size and leverage based on the amount of risk that I would be assuming. If an entry is triggered then I will use the Parabolic SAR or the Bill Williams Fractal to determine my risk.
If SAR is too tight then I will use the Fractal. I use the medium and long term MA’s to determine what is or is not too tight. Prefer stop to be above long term MA but has to be above medium MA.
I am trading Consensio, and it does not allow for stop losses in this manner. Instead it demands that you hold onto a position through the candle close and that you scale out in pieces (see above 'Entries & Exits'). This is best in 99%+ of the time.
However that really limits the leverage that can be used. If trading the daily chart 3X - 5X would be the absolute max. I tend to prefer 5X - 10X leverage for a number of reasons:
-Minimizes exchange risk
-Can minimize slippage
-Still gives me plenty of flexibility to place stop above prior Fractal / SAR
Below shows an example entry triggered and my thought process for where to place the stop along with a risk / leverage calculation.
Once I understand the risk, then I can calculate the position size. You should always think of risk as the amount you stand to lose opposed to exposure amount. I do not care about the exposure amount. I care about how much I stand to lose... how much I am risking. I care about controlling my downside and limiting it to less than 2% of my trading capital.
In the above example the risk is 7.10% and the max leverage is 14.08%. I never use the max leverage because getting liquidating comes with significantly higher fees. In this case I would use 10X or less leverage and I would make sure to set a market stop loss below the liquidation price.
If you get liquidated then it will likely be a ~22% fee. If you take a market stop before the liquidation triggers then it will be a ~2% fee.
I currently like to cap my risk at $500 per trade. $500 (USD I wish to risk) / 0.071 (calculated risk based on wick above Fractal) = $7,042 (exposure)
$7,042 is my maximum exposure. With 10X leverage $704.20 is the most I will need for margin. Once I understand my position size, leverage and margin requirements then the position size can be easily calculated based on the Entry & Exit Signals above.
Trailing Stop Losses
I consider myself 100% entered when I have $500 at risk. If the price moves in my favor then I will trail the stop loss. If I trail it to the point where it is at break even, or better, then I will not consider myself fully entered anymore.
Even though I still have the full original exposure, I am no longer assuming any risk and the latter is all that matters to me. Therefore I would feel comfortable adding to my exposure up until the point where I am risking another $500.
In the example above we get a great entry before a strong trend starts (also happened to follow descending triangle breakdown which provided great confirmation). The price quickly moves in our favor to the point where the stop is adjusted to break even, or very close to it.
With no risk I do not consider myself to be fully exposed anymore and I feel comfortable adding to my position up to an amount that would risk $500. Need to be very careful with this because adding to a profitable position after a big move can completely ruin your trade.
I will use the TD’ Sequential , RSI and Average Directional Index to confirm that the trend still has room to go. I will also check horizontals and trends to make sure I’m not selling support / buying resistance. In the example above I would really like adding because all of the above are in my favor.
This can be thought of as manual unbalancing which is the opposite of how most people approach allocating capital.
Automatic rebalancing will sell the most profitable positions and add to the lesser profitable positions in order to keep the same allocation percentages.
For example: if allocations are 50% Apple and 50% Amazon then Amazon outperforms. It will be something like 45% Apple and 55% Amazon. Rebalancing would sell Amazon and buy Apple so that it is 50:50 again.
I have always thought that is completely backwards. I want to allocate my capital to the best performing assets. If I am in a position that is really moving in my favor then I am thinking about adding to it. I would never take away from a more profitable position to add to a lesser profitable one just for the sake of balancing my portfolio.
Conclusion
What is outlined above is enough to ensure that you do not miss out on a trend and it also ensures that you will get out before it fully reverses. Don’t take me word for it, go do some backtesting yourself. That is when the power of Consensio will really come to life.
When trying out a new strategy I always recommend to start with an extremely small amount of money that is > $0 and I also recommend zooming in.
I think that it is very important to have some skin in the game so that you feel the pain and pleasure of losing and winning. However I think that is should be very nominal. If you have a $10,000 trading roll then I would take $100 and trade the 3m chart. Focus on learning the intricacies and making sound decisions. Also focus on ROI and how long it takes to generate 10%, 50% or 100%+ returns opposed the dollar amount being returned.
Regardless of what time frame you decide to trade I would always start with a very small TF. The reason is that the daily / weekly charts could take years to teach what the 3m and 5m charts can teach in days.
The decision making process should be exactly the same regardless of the TF. There are a ton of variables and intricate situations that you can put yourself into by trading small TF’s. Thinking your way through these situations is how you internalize and gain confidence in the trading system as well as the decision making process.
Facing these situations before you have significant money on the line is what I consider batting practice.
“We don't rise to the level of our expectations, we fall to the level of our training.” -Archilochos
After a couple weeks of trading the shorter TF’s I felt comfortable putting significant money to work on the Daily chart. However, I consider myself a fast learner and that process could take longer for others.
Visual Lesson ExampleRecognize approximate price moves by acknowledging visual patterns.
Observing 360 (6H) note, and... Accompanied by other time frames such as the 90 min presents the market in an overbought condition, therefore giving away the future move because 50 level then becomes a substitute overbought level as if it were 68 on the particular time frame.
Combining Fibonacci with TDIUsing triple charts, TDI' Complementary Overlay, TDI' PRO and a basic entry rule we can make profitable trades possible.
Based on the condition of using an account with just under $5,000 trading account capital, with 1:500 leverage, with a deposit margin of ~$80, a single trade with lot size of 0.35
~ $310 Profit, 1 trade in one day
Third Chart use example
5] How to use Traders Dynamic Index and Complementary OverlayCOMBINING MULTIPLE TUTORIALS
Price/HighMBL crash, overbought TDI:RSIPL indication = MUST SELL with use of lower time frames.
Trading a retracement (into HighMidline) is not really recommended, your'e not trading a reversal so its highly risky to countertrend trade against the main trend.
Price under HighMidline, with 'TDI overbought indication = MUST SELL with proper setup. Use of Flat Bottom, disjoint angle, or parallel channel are very useful when used with the separated 'TDI Pro indicator window.
60 Min chart BEST SELL ENTRY ZONE corresponds to price nearest of 240 HighMidline and especially of 'TDI indication of overbought condition. In this time period preparation of best sell entry is crucial for evasion of being stopped out and best to enter by RSIPL above 68 as BEST SELL POINT.
XtremePhaser trending down helps to determine the Take Profit area to look into (1] How to use Traders Dynamic Index and Complementary Overlay). As also was shown in the chart as target (2] How to use Traders Dynamic Index and Complementary Overlay). Midlines (Black & Gray lines) however are mainly for identifying the current trend as this published idea explains. Other 'TDI overlay component lines (MBLs, TSLs), and Phasers are only for reversal breakouts, if you know what I mean, and can be used to observe support/resistance.
TENTATIVE APPROACH OF PUBLIC TRADING MARKETSHi fellow traders,
I started to trade forex 12 years ago. I looked at almost all possible literature (books) and Technical Analysis (Japanese candle sticks, indicators, Elliott Waves, etc.), traders' psychology, paid for expensive forex courses.
They all failed me . 4 years!
Not because these were wrong (or maybe but who am I to say so) but because they were of no help for me to trade. I was loosing money.
On the chart, this is me 10 years ago applied to today's bitcoin chart
Then I realized that trading is only managing risk. As a trader, my job is to manage risk. And it needs a set of few components that you need to have right:
- Charts - and how to read them.
- Understand cycles of the market (time frame, momentum)
- A trading system (that provides entries based on the same approach over time. can be anything I reckon: MACD cross-over, candle stick patterns)
So, I based my work on Elliott Waves Theory (Elliott was a genius) but I dropped his approach of market trending in 5 waves only and also his labeling but I kept his vocabulary.
I used different time frames for direction, setup and execution that fits my personality. I do not read news or listen to rumors when I trade. This is noise to me that is here to justify price when I believe that price is all that matters (except if you are an insider trader with deep pockets... no further comment). I trade extensions in corrective sequence with Fibonacci levels.
This year, I started The Trader's Corner and I am trading for a living.
What is your approach to trading in general and cryptocurrency in particular?
Tradingview Replay Function, Perfect your edge whenever you wantTradingView Bar Replay is a feature that you should take advantage of, In this post, I'll show you how it works and what it is good for.
Turn Bar Replay On
To turn on Bar Replay, click on the icon in the toolbar at the top of the screen.
Adjust the Settings
After you turn it on, you will see a new toolbar appear on your active chart. You will also see a vertical red line appear where your cursor is.
The red line marks where the replay will begin, so do not click until you have scrolled back to where you want the playback to begin.
You can use the scroll control on your mouse the move the chart back or click and drag the chart to move it. Clicking and dragging will not set the start point.
Start the Replay
Once you have scrolled back to where you want to begin the replay, click once on the chart and you will be in Replay mode. Now click on the Play button to start the replay.
How it Can Improve Your Trading
There are a few different ways that this feature can help you improve your trading. If you can think of any other use cases, feel free to leave them in the comments at the end of this post.
Reviewing Your Old Trades
You can use the playback feature to analyze what a chart looked like before you entered a trade.
When you look at a trade a few days later, you will usually be able to see it from a more objective standpoint. This is because the emotion surrounding the trade has dissipated.
So a follow-up analysis of your trades could reveal what you do well and what you need to fix.
Backtesting
You could use this as a free backtesting platform. Of course, the currency pairs that you test would need to have enough historical data available. But if there is enough data to do a solid test, then you would just need a simple spreadsheet to track your trades and you are good to go.
Since TradingView makes it easy to do screenshots, it's also easy create flash cards of good setups, for later.
Practice
Another helpful use of this feature is to replay premium setups, so they get engrained in your brain. You can keep a spreadsheet of dates when good setups for your trading system happened and you can use this replay feature to play them forward a few times to get some practice, without going through the entire process of backtesting.
