Best TradingView Indicators for Day Trading Forex

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Best TradingView Indicators for Day Trading Forex

One of the best things about TradingView is that you get access to a ton of free indicators created by TradingView and its members.

But that's also one of the biggest challenges with using TradingView. You can spend a lot of time searching through all of the indicators, only to not find what you're looking for.

It can be frustrating. 

To make things more challenging, some indicator creators publish fantastic indicators, but give their indicators weird names, so they are hard to find.

So to save you some time, I'll give you the must-have TradingView indicators for Forex day traders.

Previous Day High Low Indicator

There are quite a few previous day high/low indicators, but most of them are distracting.

I want the minimum amount of information on my chart and this indicator fits the description.

The best part is that you can also mark weekly, monthly highs and lows on one chart.

In the example above, I've marked the daily high/low of the past 2 days. That's the most useful information to me for day trading.

Notice how price respects those levels.

To find this indicator, search for: DWM HL in TradingView.

It's one of those cases where the creator gave it a weird name, so it's hard to find.

But now that you know how to find it, you can start using this handy indicator.

Here's a look at the settings for the indicator.

 

Forex Market Session Boxes

If you prefer to see the market highs/lows and open/closes in a box, then this indicator is for you.

It's called the FX Market Sessions indicator.

It marks the start/end of each session and makes it easy to see the high/low of each session.

The default design isn't the greatest, in my opinion. But if you change the dashed lines, remove the colors and hide the session names, this indicator works great.

You can show or hide each of the 3 major sessions, depending on the session(s) that you like to trade.

A nice touch that's been added to this indicator is the ability to send you alerts. 

Never forget to get to your computer in time for your favorite session to start.

These notifications will also alert you to price breakouts.

 

Market Session Times

This is the only indicator that I could find that accurately shows the overlap of the London and New York sessions behind the chart.

There were a couple of similar indicators, but they were either annoying to look at, or not accurate.

Seeing the sessions on your chart will remind you when volume could increase or decrease.

To find this indicator, search for: Forex Session Overlap.

I use the indicator to mark the London and New York sessions, but you can also mark the Tokyo and Australian sessions.

There are also options to mark market sessions during the summer time change.

Visual Range Volume Profile

Volume profile can be a great way to predict potential support and resistance points on a chart.

It shows you the price levels that had the most volume, which is very helpful in understanding key prices on a chart.

There are several similar indicators out there, but I like this one best.

This indicator is slightly easier to use because it will show you the volume profile of all of the candles in the current view.

So to see the volume profile of a particular move, simply scroll and zoom your chart.

To find this indicator, search for: VRVP.

The settings are also very simple and there are only a few settings.

Session Separators

It's important to know exactly when the Forex trading day ends.

Sometimes, in the heat of managing multiple positions, you can forget that you're heading into the interbank period.

The final indicator that Forex day traders should use is the built-in period separator in TradingView.

It's not in the indicators list, but you can find it in the settings.

Right-click on your chart and select Settings at the bottom of the menu.

Then go to: Appearance > Session breaks

Check the box and change the color, line thickness and line type to something that works for you.

Click the OK button at the bottom and you're good to go.

Now you can easily see when the trading day ends and you can avoid wide spreads and illiquid markets.

Final Thoughts

Those are the best TradingView indicators that I've found for day trading Forex.

I hope that saves you a ton of time and frustration.

TradingView is my favorite charting and trading platform. You can find out why I switched to TradingView here.

If you liked this post, share it with someone you think would find it useful.

Are there are any other Forex day trading indicators that you think should be on this list?

Feel free to contact us and let us know.

Happy trading!

The post Best TradingView Indicators for Day Trading Forex appeared first on Trading Heroes.

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