TradingView's comprehensive toolkit has become the go-to resource for traders worldwide. One standout feature is its vast library of indicators catering to trading styles ranging from beginner to advanced. In this guide, we explore top TradingView indicators to enhance decision-making and optimize trading strategies.
Top TradingView Indicators for Day Trading
TradingView indicators help analyze price movements, identify trends, and generate precise trade signals. Below is an overview of the platform’s most effective tools for day trading, swing trading, and long-term investing.
1. Relative Strength Index (RSI): Momentum Measurement
The RSI measures price velocity on a 0–100 scale:
- Above 70: Overbought (potential sell signal)
- Below 30: Oversold (potential buy signal)
Example:
- Buy when RSI exits oversold territory (>30).
- Sell when RSI drops from overbought levels (<70).
Combine RSI with trend analysis to reduce false signals.
2. Moving Average Convergence Divergence (MACD): Trend & Momentum
MACD uses two moving averages:
- Bullish crossover: MACD line crosses above signal line → Buy.
- Bearish crossover: MACD line crosses below signal line → Sell.
Pro Tip: Track MACD divergence to spot weakening trends.
3. Bollinger Bands®: Volatility Insights
Three components:
- Upper/lower bands (volatility boundaries).
- Middle line (20-period SMA).
Strategy:
- Price touching lower band → Potential rebound.
- "Squeeze" (narrowing bands) → Impending breakout.
4. SuperTrend: Simplified Trend Following
Uses Average True Range (ATR) to signal:
- Green line: Uptrend (buy).
- Red line: Downtrend (sell).
Best for fast-moving markets.
5. Ichimoku Cloud: Comprehensive Trend Analysis
Components:
- Kumo (Cloud): Support/resistance.
- Tenkan/Kijun lines: Momentum.
Example:
- Price above cloud → Bullish.
- Lagging line confirms reversals.
6. VWAP: Day Trading Benchmark
Volume-Weighted Average Price helps:
- Buy below VWAP → "Discount."
- Sell above VWAP → "Premium."
Pair with MACD for confirmation.
Trading Directly on TradingView
Selected brokers integrate with TradingView for seamless trade execution.
| Broker | Min. Deposit | Max Leverage | EUR/USD Spread | Regulation |
|----------------|-------------|------------|----------------|---------------|
| Vantage Markets | $50 | 1:2000 | 0.3–1.4 | Tier-1 |
| IC Markets | $200 | 1:500 | 0.8–1.0 | Tier-1 |
| Pepperstone | None | 1:500 | 0.5–1.5 | Tier-1 |
Pros & Cons of TradingView Indicators
✅ Advantages:
- Data-driven decisions.
- Customizable backtesting.
- Quick visual signals.
❌ Limitations:
- Lagging signals.
- Overanalysis risks.
- Requires complementary strategies.
Key Risks
- Lagging data → Delayed entries.
- False signals → Verify with volume/trend.
- Overcrowding charts → Stick to 2–3 indicators.
FAQ
Q: Are TradingView indicators free?
A: Basic indicators are free; premium plans unlock advanced tools.
Q: How to test indicators risk-free?
A: Use TradingView’s paper trading mode.
Q: Can I create custom indicators?
A: Yes, via Pine Script coding.
Q: Why do indicators conflict?
A: They measure different metrics (e.g., momentum vs. trend).
Final Tips
- Less is more: Focus on 2–3 high-probability indicators.
- Backtest: Validate strategies historically.
- Combine tools: Use indicators + price action.
By mastering these indicators, traders gain an edge in spotting opportunities while minimizing risks.