How to do Profitable Scalp Trading with Nadaraya-Watson Envelope
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Assalam-o-Alaikum Steemians !
I'm @moneyster, a professional level Cryptocurrency investor and an analyzer. As usual, today I thought to share another Crypto-related experience with you. I hope this article will be considerably beneficial for all the Steemians in this community
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Nadaraya-Watson Envelope is a very Profitable indicator that we can use for taking Scalp Trades in both Bullish and Bear Markets. According to TradingView data, this is a fully customized indicator developed by Lux Algo.
The most interesting thing about this indicator is that here we can use this Nadaraya-Watson Envelope to generate Buy and Sell signals without an effort. Therefore, even an amateur Trader can use this indicator without much knowledge about Technical analysis.
Basically, this Nadaraya-Watson Envelope indicator consists of Red and Green short lines from the above and below the price. When the price level reaches the above Green short lines, the price tends to fall down and when the price level reaches the below Red short lines, the price tends to rise again at a certain level.
At the same time, this Nadaraya-Watson Envelope indicator also generates Red and Green Arrows below and above the price. When the Nadaraya-Watson Envelope indicator generates a Red arrow, the price tends to fall down and when the Nadaraya-Watson Envelope indicator generates a Green arrow, the price tends to rise again at a certain level.
This Nadaraya-Watson Envelope indicator generates very easily recognizable signals in the chart in a creative graphical interface. Therefore, many newcomers can Trade Cryptocurrencies with the help of signals generated by this Nadaraya-Watson Envelope indicator. If we are able to combine this indicator with other major indicator such as RSI and MACD, we can get a higher success rate as compared to other single indicators. The most interesting thing about this Nadaraya-Watson Envelope indicator is that here we can use the above and below short lines to place our stop-loss levels to manage our risk at a certain level. Therefore, the risk rewards ratio of this Nadaraya-Watson Envelope indicator will be very high as compared to many other indicators.
First of all, I will add this Nadaraya-Watson Envelope indicator to my Crypto Chart using the TradingView platform. Then we can go to "Indicators" through the tool panels and search "Nadaraya-Watson Envelope" in the giver search bar. Below I have included a screenshot to demonstrate adding the Nadaraya-Watson Envelope Indicator to our chart.
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Now I have demonstrated some good zones provided by this Nadaraya-Watson Envelope Indicator. Here we can see good zones to buy our assets or take a buy entry after confirming the entry from the Green Arrow signal generated by this indicator. Here we can clearly see the indicator has generated a clear Green arrow near the Lower short lines. When the Nadaraya-Watson Envelope Indicator shows a buy setup(Green Arrow) in the chart, we can easily take our entry.
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Below I have demonstrated other good zones provided by this Nadaraya-Watson Envelope Indicator. Here we can see good zones to sell our assets or take a sell entry after confirming the entry from the Red Arrow signal generated by this indicator. Here we can clearly see the indicator has generated a clear Red arrow near the Upper Green short lines. When the Nadaraya-Watson Envelope Indicator shows a sell setup(Red Arrow) in the chart, we can easily take our entry.
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In this way, we can use these Nadaraya-Watson Envelope Indicators for getting better and easy trading opportunities. However, as always we can try to combine this strategy with some other indicators to increase the winning percentage.
At the same time, as I said in my previous article, we should remember that all the indicators and strategies are not efficient completely as nothing we can find 100% efficient in the world. So, we should depend only on these strategies and indicators to confirm our trading opportunities.
I have studied the below-sourced articles to further study these topics and I have explained all the above facts in my own words and experience.
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Thank you @kouba01 for your cooperation. I really appreciate it. You are doing a great job as a steem curator.
Keep up the good work.
Your posts are always educative
Thank you very much for visiting my article every day. I really appreciate it. You are also creating quality content in this community. Keep it up.