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My Successful Intraday Trading Setup: Tools Used
My Successful Intraday Trading Setup: Tools Used
My Successful Intraday Trading Setup: Tools Used
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To know more about Volume Profile and its power. Follow my daily trading analysis in our
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TOOLS USED
Trading charts are viewed in - Tradingview.com
Tradingview is a very useful platform, which can be used on any browser to check the stocks at
any time. You can buy pro membership of tradingview which is worth the money.
INDICATORS USED
1. Volume Profile
2. VWAP - Volume Weighted Average Price
3. Pivot Points.
VOLUME PROFILE
1. First setting in Volume Profile is to increase the granularity of the indicator by changing
the Rows layout to Ticks per row
2. Row Size to 1
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3. Enable only the POC, developing POC and value area will give false signals often at
lesser time frame.
VWAP
VWAP is again a greatest tool when used in combination with Volume Profile, as both are using
volume one can confirm the other easily and reliably. The signals generated on the combination
of the above two signals is very strong.
PIVOT LINES
Pivot lines is an additional indicator which we use to avoid false trade. As many people are
observing the PIVOT points in their day to day trading life. A stock approaching PIVOT line will
definitely show greater price action. By using Volume profile we can identify who is stronger in
the market.
Use the PIVOT points with the default settings of the trading view.
The combination of the above indicators has shown some greatest movement in the
trading panel. Some example are below.
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FIG - Financially Independent Group
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EXAMPLE 1
EXAMPLE 2
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FIG - Financially Independent Group
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EXAMPLE 3
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