TMA Overlay & Neglected Volume Trading Strategy

Most Accurate TradingView Indicators For 2023 ( 100% Profitable )

3 minutes, 52 seconds Read

In this tutorial, I want to show you two very powerful trading view indicators that will really blow your mind. If you haven’t heard of these tools before, definitely consider using them in your trading because they will be responsible for huge gains in your account in 2023 and beyond. Guys, if you want to see tutorials like this more often, plese subscribe to website and share this blog post.

So without wasting any time, let’s start with the first indicator, which is called a TMA overlay by Arty FXC. You can access this indicator by clicking the indicators button and type in TMA overlay. The indicator you’re looking for is this one created by Arty FXC. Before we start using this tool, let’s make some adjustments in the settings. First of all, let’s disable the trade sessions and these types of candlesticks.

TMA Overlay by Arty FXC
TMA Overlay Settings

This indicator helps identify momentum by offering a visual representation of engulfing candlestick patterns overlaid with smooth moving averages. The moving averages you can see on a chart are 21 50, 100 and 200 SMAs. The second part of this indicator are these green and red triangles. For a buy signal to appear, three bearish candlesticks in a row must be formed in a market. Exactly opposite is true for a sell signal. If the SMAs are aligned in a way so that on the top goes white, then it goes green, yellow, and red. The market is officially in the uptrend. Any sell signals that happen during this time are invalid. On the other hand, when the moving averages are aligned in a way so that on a top goes 200 and then it goes 150 and 21 sma, the market is officially in a downtrend. Obviously, all the buy signals that happen during this time are canceled. There are many strategies you can create with this indicator, but let me show you the one that is almost never wrong.

For this strategy, you need to add one more tool to the chart. So click on the indicators button one more time and search for neglected volume by dgtrd. The one that you’re looking for is this one by dgtrd.

Neglected Volue By dgtrd

Access to indicator settings and make some adjustments in a style. You basically need to get rid of everything except for the volume bars.

Neglected Volume Settings

All right, the setup is complete. Now let’s understand the entry rules for a signal to buy. The following conditions must be met. First, there must be a change in a trend from bullish to bearish. This happens when these three moving averages cross the 200 SMA for the first time, and all four moving averages are aligned in a way so that they signal a bullish trend. Second condition is to have a three line strikes bullish signal printed on a chart at a time the signal is issued. The price bar must be fully above the moving averages once these conditions are met to check the volume indicator for a positive volume in the market. If the bar is green, then this is a signal for you to buy. You can set the stop loss at the recent swing low for the strategy target at least two times the risk.

TMA – Neglected / LONG

Here’s another very important rule to mention. The moment the 21 SMA crosses below the 50 sma, that’s it. No long trades should be taken after that. This rule stays in place. Even if the SMAs align, again, signaling a continuation bullish trend when the moving averages start crossing each other. This is an indication of a ranging market, and as you already know, this is definitely not the best time to trade. So again, as soon as you see the 21 SMA cross, the 50 SMA to the downside, abandon any long signals, simply wait for a complete change in trend from bullish to bearish. So first thing we do is we check whether the current bullish trend is fresh. We see that we did have a change in momentum from bearish to bullish, and the moving averages haven’t crossed ever since. We also have a bullish three line strikes pattern, which is confirmed by volume.

Ranging Market

Set the stop loss slightly above the recent swing and target at least two times the risk. And again, you should not be taking any short trades after you had 21 SMA cross above the 50 sma. For sell entries, we can see the bearish trend with printed a bearish signal and the volume confirms it. So yeah, definitely give the strategy a try. It works perfectly well on lower timeframes.

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