⚙️TradingView Configuration
Introduction to Configuration on TradingView
Last updated
Introduction to Configuration on TradingView
Last updated
In this chapter, we will explore how to configure the indicator on the TradingView platform. Below, we will detail each of the key parameters that influence the behavior and sensitivity of the indicator, allowing traders to adapt it to their specific needs for technical analysis.
The Tradefi.bot Reversal Zones indicator is designed to help traders identify potential reversal zones in the market. This indicator uses various types of moving averages and envelope channels to determine these zones, providing a visual representation on the TradingView chart. It is customizable to fit different trading styles and timeframes, making it a versatile tool for any trader.
To set up the Tradefi.bot Reversal Zones indicator on TradingView, follow these steps:
Open TradingView and go to the chart where you want to apply the indicator.
Click on the "Indicators" button at the top of the chart.
Search for "Tradefi.bot | Reversal Zones".
Click on the indicator to add it to your chart.
The Tradefi.bot Reversal Zones indicator comes with a variety of input parameters that allow you to customize its behavior and appearance. Here is a detailed explanation of each input:
Length
Description: The length of the moving average used in the calculation.
Default: 100
Input Type: Integer
Purpose: Determines the period over which the moving average is calculated.
Source
Description: The source of the price data used for calculations (e.g., close, open, high, low).
Default: Close
Input Type: Dropdown (close, open, high, low)
Purpose: Defines which price data point is used for the calculations.
Type
Description: The type of moving average or channel to use.
Default: SMA (Simple Moving Average)
Input Type: Dropdown (SMA, EMA, HULL)
Purpose: Selects the type of moving average or channel for the indicator.
Multipliers
Multiplier 1 (Large Channel Multiplier)
Description: Multiplier for the large channel envelope.
Default: 4
Input Type: Float
Purpose: Determines the width of the large channel based on ATR (Average True Range).
Multiplier 2 (Medium Channel Multiplier)
Description: Multiplier for the medium channel envelope.
Default: 2
Input Type: Float
Purpose: Determines the width of the medium channel based on ATR.
Multiplier 3 (Small Channel Multiplier)
Description: Multiplier for the small channel envelope.
Default: 0.8
Input Type: Float
Purpose: Determines the width of the small channel based on ATR.
Adjustment Factor
Description: Factor to adjust the multipliers based on the selected timeframe.
Default: 2 for daily timeframe, 0.8 for others
Input Type: Float (calculated based on the timeframe)
Purpose: Adjusts the channel widths to fit different timeframes appropriately.
The indicator plots three upper and three lower channels on the chart:
Upper Channels: Represent potential resistance zones.
Large Upper Channel
Medium Upper Channel
Small Upper Channel
Lower Channels: Represent potential support zones.
Large Lower Channel
Medium Lower Channel
Small Lower Channel
Color Settings
Upper Channels Color: #B164EC (Purple)
Lower Channels Color: #F3DDA0 (Yellow)
Transparency: Adjustable transparency for filled areas to highlight the channels without obscuring the price action.
The indicator also provides shaded areas between the channels to visually emphasize the potential reversal zones:
Large to Medium Upper Channel: Shaded with 80% transparency.
Medium to Small Upper Channel: Shaded with 60% transparency.
Large to Medium Lower Channel: Shaded with 80% transparency.
Medium to Small Lower Channel: Shaded with 60% transparency.
The Tradefi.bot Reversal Zones indicator is suitable for traders of all experience levels. By highlighting potential reversal zones, it helps traders make more informed decisions and improve their market timing. The adjustable parameters allow for customization to suit different trading styles and preferences.
These configurations allow TradingView users to customize the indicator to better suit their trading strategy and the specific behavior of the market. By understanding and adjusting these parameters, traders can optimize their use of the indicator, improving their trading decisions based on more precise technical signals tailored to their needs.
