⚙️TradingView Configuration

Introduction to Configuration on TradingView

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.

Configuration and Inputs

Indicator Settings

To set up the Tradefi.bot Reversal Zones indicator on TradingView, follow these steps:

1. Open TradingView and go to the chart where you want to apply the indicator.

2. Click on the "Indicators" button at the top of the chart.

3. Search for "Tradefi.bot | Reversal Zones".

4. Click on the indicator to add it to your chart.

Input Parameters

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.

Visual Representation

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.

Shaded Areas

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.

Usage

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.