Tradingview Indicator: Day Trading Essentials/h1>

Transcript

Indicators For Price Action Bounce Trading System. How To Scalp ES Emini or MES Micros Futures.

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good afternoon Traders and welcome to
the micostrader update for the day
trader Essentials indicator that is part
of The Suite of indicators you get when
you’re a member this is version
3.0 and I’m going to give you a glimpse
at it now be warned there might be some
singing coming forward so you might want
to lower your volume here soon but if
you can’t have fun
why do it so welcome to micros Traders
where together we trade better this is
the day trading Essentials update
3.0 an awful lot of time has went into
this and I’m really excited to bring
this to
you
so let’s get to
it whenever you update an indicator you
always go and removed items that aren’t
cutting it anymore things you really
aren’t using they’re not just getting
the job
done like a bad employee you just fire
them and move on much like a trade that
isn’t going your direction you just fire
it and move on and say get out of
here all right let’s get to the serious
stuff so where are we at that’s always
the primary question I’m trying to
answer where are we at and where might
we be headed we don’t have to predict
price with our system we just trade the
balce levels but it’s important to know
where you’re at because trade location
is very important I promise you if
you’re making trades in good places
you’ll be a better Trader if you’re
making bad trades in bad places it’s
hard to be a profitable Trader when you
have bad trade location so the entire
purpose is where are we much like when a
pilot is lost in the clouds they don’t
make sudden Maneuvers they don’t just
quickly start descending to try to find
light they
calm down they look at their instruments
they look at their maps and they figure
out where are they at so this indicator
is meant to be a minimalist dashboard it
is your instrument panel to knowing
where you are at when we’re live on Zoom
together I’m helping you with that when
we’re not on zoom and you’re trying to
trade you have to do it so therefore use
your instruments use these tools because
they will help keep you safe
by helping you have a good trade
location now the last thing you want to
do is to be an old country song and I’m
telling you you don’t want me to do
[Music]
this playing a Fool’s game hoping to
[Music]
win telling those sweet lies and losing
again oh no
I was looking for trades in all the
wrong places looking for shorts in too
many
places yeah it’s really really bad but
sometimes you just got to have a little
bit of
fun all right so part of the weekly of
knowing where you’re at is knowing where
the weekly levels are where are the
overnight levels where are we in
relation to yesterday’s highs and lows
and where are we in Confluence with the
other indices we need to know the those
things and now all of those things are
beautifully integrated into our
minimalist dashboard with this
indicator so I have added a customizable
watch
list I’ve added a visual Indy tracking
panel and inq adjustment and we are
going to cover each of those topics
right now so the added customizable
watch list you can create either a
horizontal or vertical watch list you
can place this almost anywhere on your
screen this gives you a quick dashboard
to see the three main indices and then
maybe four other ones they could be
individual stocks like Nvidia where
Nvidia goes the market goes where Apple
goes the market goes or you could use it
for smaller targeted ETFs like
financials or techn technology so the
customizable watch list you can change
those symbols and you can even remove it
if you don’t want to use it once again
it’s about how you like to look at your
dashboard now I have added visual indic
tracking and I absolutely love this so
This floating panel here can be adjusted
and moved the top line is the
yesterday’s high the middle line is the
halfback and the bottom line is
yesterday’s low the yellow dots is where
the current price is so at a glance we
can see where are we all at not only
where’s Es at but where is everybody
at this panel is also very customizable
you might want to say how do I move it
over there real simple inside of the
settings panel you can enter these
coordinates here and it will send the
panel over there it’s just like a
compass
10 steps that way 100 steps that way and
there you are so it’s real simple if you
want to adjust it personally I’m going
to probably keep it on the right hand
side of the chart it’s going to be out
of view most of the time and when I want
to see it I’ll just slide it over and
then slide it back out of the way that’s
how I like to do it but I wanted to give
you the customization to enjoy the
indicator the way you want to look at
it so here’s this panel more zoomed in
notice on the bottom right there’s a box
when all four indices have their price
above yesterday’s
high once again I’ll say it again when
all four indices when their price is
above yesterday’s high this box will
turn green when all four of the indices
are under yesterday’s low this box will
turn red now you may not be watching all
the indices all the time but if you see
that box turn red or
green pay
attention you want to be on the side
that the river is Flowing not trying to
walk
Upstream it’s always easier to go with
the current than to fight against it so
pay attention when that turns red or
green so what about adding the inq
adjustment well on the chart at that
same location where you can adjust the
coordinates of the floating panel click
inq chart and it will automatically do
the math required to put this floating
panel within the field of vision and
then you can micro adjust it micro
adjust it with those settings right
there so I really like that so now my
inq trators can easily use this as well
without having to have a separate
indicator so I’m very very very thankful
for
that okay so let’s hop on the indicator
and let’s customize it so first of all
thank you for being a member I hope you
like these updates I think it’s another
good move forward for our uh system and
I’m excited to share it with you so
let’s pop over to the
Chart all right so I did a fresh install
here right now it says Essentials 3.0 ES
that the es will drop cuz I was going to
have an es indicator and an inq but I
had an epiphany today of how to do it so
I reworked uh some of the indicator now
I only need one indicator and all you
need to do is click that inq box for the
adjustment so this is a fresh install
right out of the box with no
adjustments so let’s come in and look
at this
panel so this panel there divided into
three parts there’s input there’s style
and there’s visibility why would you be
interested in knowing anything about
visibility well you might have two
installs of the essentials indicator you
load it twice and you have one set of
settings for let’s say a 30 minute chart
and one set of settings for a 3 minute
chart where you simply come into the
visibilities panel here and you make
those adjustments and say only show this
indicator if I’m on the three minute
chart or only show this indicator if I’m
on the 30 minute chart okay so that
would be the only reason the visibility
would be important to you okay so let’s
come over to input so here’s the session
times this is important because I have
um International members and I just want
to make sure that the times are lining
up properly and if you need to adjust
them this panel will do it for you I
removed several things from the last um
iteration of this indicator the 2.0
version the 3.0 version I did keep these
two items though stop trading at
lunch it’ll put up that red box in the
final 30 minutes it’ll put up that red
box as well so I kept those in there
because I do think that’s really
important not that you’ll ever turn it
on but it’s there and uh you can’t say I
didn’t tell you
so um so the vwap standard old vwap is
there this yellow line here is the
overnight range you can turn that on or
off with this button
here and then our standard indicator
settings that we’ve had before these
yellow here are the overnight High the
overnight low now this is just for the
after little session here um overnight
halfback the rth low rth halfback rth
high and that little dot right there is
the opening so we’ll just turn those off
CU we know what those are now big candle
setting so when we have eight point
candles or more I like to have my
candles light up a different color right
now if you scroll down under the
inputs come down to the channel alert
you can set these colors okay you can
also set how many points I personally
believe eight points on a three minute
chart on ES is an alert I want to know
about you can come in here and click red
now notice when you click red here you
do not have to leave the indicator for
those effects to take place so you don’t
have to keep leaving the indicator and
coming back to make adjustments just
stay on the indicator when you make your
adjustments and you can see that they
will appear now I’m going to switch
these back to more gentle colors but if
I wanted to it to Disappear Completely I
could move my slider all the way to zero
here if I wanted for the opacity or you
come into the style panel and click big
up candle big down candle and they’re
gone now for last week’s high and low I
am going to come in here and I’m going
to make them a line okay and that’s how
you make them a line I’m going to come
out of the indicator for a second and
you’ll see the purple line there here
and the purple line here that’s your
weekly highs and lows once again where
am I at based on last week’s high and
lows that’s built into this
indicator let’s come back in we’ll turn
those
off and now we’re basically left with
our new stuff here is the watch list I
don’t like how trading View keeps their
logo right there I don’t know why I did
some research and a couple years ago
there was a way to remove it and they
have since removed the ability for
paying members who pays them hundreds of
dollars a year to not remove a logo in a
place that we’re going to put stuff oh
well so let’s go into the indicator and
you might want to move it so let’s do
that because it is
fun you know what I need to show you one
more thing built into this indicator is
also a gap indicator I want to make sure
you know this so let’s come back in time
just a little bit let’s come over here
cuz we actually had a gap up on um
Friday there let’s go back just a little
bit more let’s come into our indicator
I’m going to turn on the Gap indicator
Gap line and the 50%
line so what that will do is it tells us
where will the Gap fill based off
yesterday’s closing price here where is
that Gap where’s 50% of the Gap and once
price gets there here we’ll go forward a
few candles it will disappear so you
have a gap indicator embedded in the
essentials
indicator all right so let’s turn off
the Gap stuff of course you can change
the colors there as well there’s also a
notes panel that if you want to add a
set of notes onto your screen as we’ve
talked about before so we can move this
note panel let’s move it to the middle
right um and right there you can see
where the notes came up so might be
something you are interested
incorporating into your experience as a
Trader so let’s scroll on down we’re
going to skip over this part for now
because that relates to these things the
floating panel so let’s come down here
where it says watch
list and this is where you can change
your ticker symbols if you want to
change them
you want to rearrange the order whatever
you want it’s your
experience up here we can do some more
customization so for example if I want
to move this to the top right and make
it
vertical Che a second for indicator to
catch up you can do that I can come in
here and make the font huge if I want
and it will go huge I’m going to take
this back to horizontal and I’m going to
take this back to normal let the
indicator catch up
and there’s a nice panel I actually
might want it
large and uh there we go not a bad place
to have that as a quick glance now you
can come in and change these colors if
you want and you can also change the Min
and Max numbers now what are these so
let’s just take this down to let’s say
0.25 let’s take this down to 025 and
you’ll see the colors
change and I don’t really really like
for example something’s up 63 it’s the
same green as something up
1.44 seems like there should be a a
different shading for that so I have
experimented and I like minus 1.25 and
plus
1.25 and I tend to like that shading
better now that makes sense this is a
stronger Green at 1.44 and this is more
darker lower opacity type of red I mean
typee of green so I like that as well if
you wanted to get rid of this panel you
simply come into each of these and you
lower the opacity to zero right here
just lower the opacity to zero on every
one of them and this panel will
disappear I believe that’s all I want to
say about that panel so let’s come over
here now and let’s look at our floating
indic panel I am just so excited about
this to have this right here and I will
probably keep it right there on the
right side of my chart as I’m trading
and whenever I want to see it just
scroll over take a peek okay so the
yellow dots is where price is at the
currently at the time during rth so here
let’s get rid of the and you’ll
see that es did indeed finish up
here and Q did indeed finish just over
yesterday Thursday’s
low Dow did indeed close way up here
over its high and in and Russell did
indeed close over the high this is
accurate um I tested it all week long
live and it’s really cool to watch these
balls go up and down so there is
customization that can be done here as
well so let’s go into our panel let’s go
under inputs let’s scroll down about 3/4
of the way so in this area here you can
change the writing or you can delete it
so if I take es and I remove it let the
indicator update you’ll see that the
word the letters es disappears I
personally like them so I will most
likely keep them there this is where you
can enter those numbers to make the
panel move wherever you want if you want
to move it over here you will make this
vertical let’s say I don’t remember
let’s say it’s minus 70 um
horizontal adjustment instead of 86 to
the right we probably want it minus 150
to the left let’s let that
adjust going to go somewhere over there
let’s go to minus
180 all right and minus let’s go minus
90 we don’t have to be exact you get the
idea just tell it where you want it to
go enter the coordinates and that’s
where it will go so if you wanted it
down there while you’re trading you
certainly can if you wanted it further
over here no problem let’s come in here
let’s go down to inputs let’s take this
minus 380 why not see what that looks
like I haven’t done it that far okay
there you go so it’s minus 380 over
there and maybe you like you want it to
reside over there another setting that I
think will be useful here let’s come
down and find that
again it’s the Indy floating panel is
the squeeze here okay so if you don’t if
you think this distance is too far based
off how zoomed in you are on the chart
you can squeeze that let’s let’s go to
15 you will watch the line squeeze in
you’ll also see the ball move in with it
so um let’s watch
that squeeze there we go and you see
that everything squeezed in okay and you
can also expand it by going negative if
you want to separate the distance of
these indices a little bit more I think
22 is about perfect in my humble opinion
let’s go to 35 let’s just
watch and they should expand okay not
perfect but you you get the idea you can
expand them if uh people feel like they
really are expanding their things a lot
and they want it more perfectly spaced
let me know I can go in and dial that in
a little bit but I think this is fine
for what we are doing I like that
spacing I think that works for me and
I’m and I think I think it’s good okay
so that is really the customization of
the indicator I still want to play with
it more tonight and more tomorrow and
make sure there’s nothing else that I
need to update I’d hate to update 3.0
then I got to release 3.1 then 3.2
because of a misspelling or something
like that so I hope you enjoy these
updates members um obviously a lot of
thought and time goes into these to try
to make it even more useful as our
strategy
continues to slightly tweak and morph
and we find out exactly what it is we’re
looking for and how we want that
information presented to us sure I can
go to the right and see all of my
indices or now I can just have a little
panel box right there and look at it
real quickly as well all right guys
that’ll be it for me have a great
weekend