This Indicator Predicts The Future Move-EWMA-VI Indicator
The Exponentially weighted moving average trading view indicator is developed by author bii_vg and you can use it for free on trading view. It helps traders easily find out potential buy and sell signals. If you look at these signals then they are available in green and pink color. This article is surely going to level up your trading knowledge.
How To Attach The EWMA Indicator
This indicator is free to use on tradingview.com. Just visit this website signup and inside the indicator section search for EWMA and attach the one that is given by the author named bii_vg. You can check its details in the image.
Smart Trading Strategy
This indicator is designed on a simple concept of green and pink color. You can take your entry according to these colors. When EWMA shows green color moving average then its a BUY signal. This shows us a good entry point before a bullish rally. I have seen this indicator to be very accurate on forex, crypto, and stocks.
When the color of the moving average turns green it also shows that demand for that particular asset can be increased. This provides traders with a solid reason to enter into the BUy position.
Double Confirmation
For example, you have a green buy signal on the moving average. Now you can double-check it with support levels and RSI. If RSI is oversold and price action also stands at the support level then such type of trading setup can be very profitable.
SELL SIGNAL
When the EWMA indicator changes its color to pink it’s a sell signal. This will be considered a good time to enter into a short position. You can check RSI to find the overbought situation and resistance levels for reversal confirmation. Moreover, you can double-check the signal with another indicator called MACD.
Stop Loss and Take Profit
You can easily manage your risk by placing a stop loss. If you get a green buy signal from the moving average indicator then set your stop loss below the ema line and vice versa for the sell signal.
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