Today we are testing the The BEST Indicator and most downloaded indicator On TradingView: Squeeze Momentum Indicator ...

Have you ever wondered how some Traders turn a small amount of money into a fortune today we're going to be looking at a strategy that promises just that so let's get straight to it [Applause] hey Traders I hope you're going extremely well my name is David andWelcome to my channel where I go through trading strategies that I find on YouTube and on the web and I use code to debunk the bad ones and find the good ones the crypto world is full of stories of people turning pocket change into fortunes and the trading strategy thatWe're looking at today did just that for its creator Luke the creator of this trading strategy actually comes with the 10 years experience in these penny stock market world he comes to the market with his trading strategy which isn't rocket science it is literally a pattern recognization with a little bit of extraVolume and we're going to be adding some other indicators to make it even better it uses a kind of a DCA method which I have kept away from for quite a long time after the Luna crash so I have called this trading strategy the ballsOf steel because I do believe that it is quite risky as there isn't really a stop loss involved but it seems to have really good results on back testing so I guess the best thing is to get over to my computer and I'll go through Luke'sStrategy and show you all of the details behind the strategy but before I go over to my computer if you do enjoy this video if you don't mind just hitting that thumbs up button it does help me to grow this community why not subscribe I do videos every Monday and FridayTalking about trading strategies and looking for scalping strategies and things like that in the crypto world and for in the future hopefully Forex and some others as well right let's get over to my computer okay here we are on my computer giving credit where credit was due quick fingers Luke uh actually it'sQuite hard to find nowadays because he has removed his YouTube channel but I found this article on steemit which gives us a quick overview of the strategy and where he comes from so he actually turned 300 into 50 000 as you can see he comes from the Penny tradingStock world and has over 10 years experience in the article he goes through what software he's using now this was seven years ago so things have changed and I'm going to be using a trading view myself to try and explain the training strategy so I'm going to goOver to trading View and we're going to go and add only one simple indicator to the charts at the moment that's going to be the RSI I will explain how I've tried to improve this this strategy afterwards as well so I'm looking for the RSI hereI'm going to put it here and add the relative strength index to my uh to my screen for this training strategy I have called it rules of Steel because you do have to actually have a code total rewire of your brain to be able to tradeIt we're going to be looking for Market structure where we're going to be breaking a structure in a reverse paddle pattern and instead of shorting like we would normally we're actually going to be adding buy orders in at that point we're going to be looking for an RSILevel which I'm going to be be showing you in a second and as price keeps going down we're going to be adding more and more orders until price reverses again this is where the risk comes in because it does sometimes in the crypto world that take a long time before it actuallyReverses in a in the correct direction but as price does come down we are ending but larger and larger sums of money until we get to a extremely big order as he calls it depending on your wallet size which is a lot larger than the other purchases which means that weAre putting probabilities on our side before a smaller reversal comes in and we can start taking profit okay let's get over to the computer I'll explain everything okay so as a price comes up we're going to be looking for structure I'm on the 15 minutes here this seems toWork extremely well on low time frames what I'm going to do is I'm going to try and draw this so it's understandable as price is moving in and up upward manner we're actually creating strong lows and and weak highs were breaking those previous highs going up in an upwardManner as we're looking what we're looking for is a reverse just like this here we're waiting for price to come and break a previous low let me just finish drawing this very quickly like this so that I can make it understandable okay right so as price it comes up here andThe brakes are previous a low this is where we're looking for our first entry we're going to look for the RSI to be at a certain level for our entry so we're going to be looking for it to be nice and low down in these barriers hereWhere it's starting to go red uh but I'll talk about that later so what our idea is is we're going to take our first entries around here our first entry would have probably been around the uh around this area here and what we're going to do is we're actually going toTake lots of entries until price starts to reverse again like I said it's very much in a DCA manner each of these lines would be a slightly larger price so this one may be this one here may be ten dollars this one here would be twenty dollars uh thisOne here would be forty dollars and it would be continually increasing until we get up to a much higher amount of orders so the first entry is going to be our smallest and all we're doing is we're literally waiting for price to reverse enough for us to start taking profit weDon't need it because as we're going down we're lowering uh lowering our entry order so at the price that we're actually purchasing at is getting lower and lower as we go along our average entry is actually going to be much much lower than if we would have justPurchased all up here and waited for price to reverse so this means that our stop loss can be either trailing any other way uh currently in the trading strategy that is proposed by the qfl system actually there is no trade uh stop loss which is the thing that I don't particularly like myselfBut there is otherwise of risk managing like having a very small amount your portfolio you're using in this trading strategy so it is completely it is completely different and a lot more risky as far as I'm concerned uh but I'm going to back test so let's go over toThe Chart here and have a look at one of these examples so as you can see price breaks previous structure here we're looking for the RSI down here to be in the over over uh oversold area to start building our positions so our first position would be around here as we'reLooking for it to come over into the alpha sold so our first position would be just here like this around here we're going to be then continuing to buy in as percentages as we go all the way down to the bottom and then we're looking for it to start reversing in theOther direction as you can see this is an absolute perfect entry we would have longed from here all the way down to here creating bigger and bigger positions so our average order may be roughly around this area here so this would be our average price uh justAround here so I'm going to put our average price here like this we're going to put our average price in around this area here so it depends who you're following but some people say that you should take profit out in small blocks as price goes up maybe a trailingSystem uh others take the profit out our all in one go I'm looking to build a scalping strategy myself with this so I'm going to be taking all of my profits out at the 0.7 to 0.9 which kind of covers all of the fees and call coversUh enough percentage to make money out of this trading strategy so I'm now going to go back to my computer I'm going to explain the last bit so then I'm going to code this trading strategy which I actually have already coded and have actually forward tested for aboutTwo months now so I'm quite happy the results that's what I'm sharing with it today okay let's get over to my computer all right okay so as I said I'm looking for a 0.7 to 0.8 uh take profits here this would have been an absolutely easyTrade there are times as you know in cryptocurrency where price does come down so this is why why I believe that you really do need it rules of still sometimes to actually trade this trading strategy sometimes it pops up just like this here uh enough to take privateTrades out here and then it gets back in and then comes back out here it depends on how you feel about those kind of things and the way that the market will react it certainly is a different way of psychologically thinking about things you have to want to jump into the marketWhen everybody else is panicking up here and start your trades as people are panicking buying in in in so it is a difference a different way of thinking of the market but let's go over to the back testing uh I haven't really created the boilerplate around it because theBoilerplane wouldn't fit to this but it will work with trigger trade uh I will show you how to set it up with Bots after this okay let's go but before I go over to the results a quick word from our sponsors May if you do enjoy or wantTo add these trading view strategies to your trading view you'll be able to find the links down in the description you'll also be able to connect them to bots using trading trick or trade which is part of the David taker platform uh you'll be able to connect to buy a bitOkay X bit get and plenty of other platforms you'll also be able to find signals on Pion X okay let's get back over okay so here's the trading strategy as I said earlier I will go through step by step the actual entries afterwards and how to really do this if you wantedTo do it manually I do believe it's something that you'll find difficult to do manually as a trading strategy I'm on BTC usdt here on the one minute I've moved from 15 minute uh I will go back over to other time frames in a minuteOkay so as you can see on the one minute we have 162 net profit 100 closed trade so that's great uh we have 75 profitable and we have 13.8 profit create a factor they have a 30 drawdown which is a bit higher well very high but I did say that this kind ofTrading strategy is more risky uh and maybe the best to use on a sub account or with a small amount of money hoping for the bigger wins and turning 500 into I think it was 50 000 but not Financial advice in the slightest it could be that you only getThe 30 drawdown is the way trading is I guess okay anyway uh so as I said earlier if we look at the buy two hold we have a minus seven percent on BTC usdt so we absolutely smashed that uh on the one minute right let's go over to aCouple of other time frames up here so on the five minute you can see that it stays profitable as well if we go up to the 15 minute it still is profitable as well uh I even one hour we go over to one hour here we're still profitableEven while Bitcoin is crashing and we're actually still 23 profitable on the one hour so it seems most optimal on Lower time frames let's have a look at some other coins here let's have a look at Ada we have Ada which we have uh 296 uh profit we have a percentageProfit of 66 on Ada so that's a win rate of 66 percent if we keep going down let's have a look at some of these let's go to BNB I'm gonna do the common ones we have 239 percent win uh 239 percent of profit on a 60 win rateLet's keep going down keep going down now I wouldn't suggest that they you use uh use much leverage if any leverage at all with this kind of trading strategy uh because sometimes you do get quite far big drawdowns on uh on E3 have aVery good uh 73 win rate we have a 25 25 profit Factor uh and we have 259 and 18 next draw down which is actually very very good let's have a look at some some old coins here some I know some yes um yeah some old coins here we have 202 onThis one here 38 draw down at 60 UH 60 win rate and that is on Full usdt uh let's do one or two more LTC usdt some of the old coins here look at that Equity curve okay we have 410 but you did obviously pick up a big win here somewhere uh 78.95A win rate let's go and find some other ones that sheep here yeah 160 33 drawdown and we have earned 78 well win rate so is this the Holy Ground of trading strategies who knows I'm going to be testing it Forward testing it I will post a load of results on myWebsite I would also come back here on you a trading view to show you the ways that I've improved and added differences to the trading strategy to make it better as I said you can add this to your trading view the links are down in the description do be careful guys IHave gone through plenty of times at my catastrophic results with DTA in the past and how I purchased Luna as it was spying all the way down to the bottom uh so do be careful with these kind of strategies you have to risk manage and maybe like I said use an extremely smallAmount of your portfolio on a sub account to trade this kind of strategy that's all for today as I said don't forget to come and join us david.tick David with 2DS at the end please don't hesitate to ask any questions down in the comments below so take care KeepSafe Keep coding treat like a boss and I will see you on Monday hold on wait wait wait I totally forgot to go through the settings let's go through the settings very very quickly I won't be long it'll be very quickly and then I'll leave youTo your day sorry about that got a bit too excited by this trading strategy so as you can see if you click on the cook up here my trading settings are pretty simple I'm on an RSI period of seven the oversold is 40 levels so if coming belowThe 40 is where actually it's a little bit of a surprise to me I was expecting it to be like a really extended amount but best settings seem to be 40. as we come down below the 40 level here uh we're looking to start our entries asWe're coming down uh obviously you can play around with these settings and try and find a better setup for yourself my base order was at fifty dollars so my first entry was fifty dollars the first uh safety order was at 100 and then we increased by 1.8 uh each new order nowThat means that you can play around with these settings as well if you want to start with ten dollars and an increase to twenty dollars whatever works best for you and your trading strategy like I said it is a risky trading strategy so I would certainly be careful with the wayThat you play with them the money smaller accounts Etc and then I have a maximum set up orders of Safety Orders of 10. I've been playing around with a couple of other indicators here to try and improve uh adding my David take effect market and also the flow volumeUh volume flow sorry uh yep just been playing around with those my take profit is at 0.8 percent as I said earlier uh for just enough to pay for cover fees it is a low time scalping strategy you can play around with that as well take it upTo one percent it still stays profitable but a little bit less uh and maybe you'll need a couple more extra Safety Orders I guess like I said a bit to play around with and there is no stop loss so it's at 100 so here is the David takeCare to connect it to bots it's very simple I have loads of tutorials on how to connect these two Bots inside my website so like I said if you want to add these my patreon links are down in the description once again have a great day guys take care Keep Safe Keep codingTrade nugget boss and I'll see you in the next video on Monday take care bye foreign