The Best TradingView Strategy for Swing Traders
In this article, I will cover the best trading view strategy for swing trades. I will explain one indicator that is widely good for short-term and swing price ranges. This indicator is very good for intra-day trading and I will explain how to use it for free with trading rules.
What is the IPDA Operating Range Indicator?
This IPDA operating range indicator is an advanced tool to judge the potential price movements in the market before they happen. It automatically draws highs and lows on the trading view chart and show you levels in the form of ranges. There are many important key levels in the market and this indicator helps traders to track those levels. Thats why it makes it the best trading view strategy for swing trades.
How to Attach the IPDA Indicator?
You need to go to tradingview.com. Write Ipda in the indicator section and click on the one by author makuchaku. Its full name is IPDA Operating Range by makuchaku. After you attach it mark this indicator in your favorite list.
Identify Market Range:
This is one of the best trading view strategy for swing traders because it identifies market ranges in green and red color. It identifies these ranges based on swing highs and lows.
Range Boundary:
The upper red boundary range works as a resistance level. On the other hand, the green lower range represents the potential support level in the market. You can use this indicator on any time frame but my suggestion is to find the wider picture on 15-minute, 1 hour and 4 hour charts.
Breakout Trading:
Some traders also use this indicator for breakout trading. For example, we know that there are two types of ranges on the chart. The green one and the red one. If the price action breaks above the green level they open buy positions in this case. Similarly if the price breaks below the red level then they assume bearish pressure in the market.
Test on Demo:
Before you jump into trading on your live account it’s advisable to test this strategy on a demo account first and then implement it after your satisfaction and practice.
In short, the IPDA Indicator along with the combination of other technical tools can make you a better trader.
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