AIO Indicator — How to use Statistic Panel
I would like to explain in detail about function Statistic Panel of my All In One Price Action Indicator (TradingView) & give an example of how I use it to trade.
SESSION INFO PANEL
showing pips information of ADR, Asian, London, and New York sessions at the top-right of the chart.
Pips value is changed depending on your time setting for each session. The default values of London & New York sessions are set just opening time not the whole session but you can change the timing range to whatever range you like.
TREND PANEL
showing the trends of 4 MA (default values: SMA with lengths 20-50–100–200) and main time frames (TF) 5m/15m/1h/4h/D/W at the bottom-right of the chart in green (uptrend)-red (downtrend) colors.
Which TF trends you focus on depends on your trading style:
For scalping trades: 5m/15m/1h
For intraday trades: 15m/1h/4h
For Swing Trades: 1h/4h/D/W
Scalping Analysis Example
What would you choose to long/or short if 3TFs (1h/15m/5m) are showing that it’s a downtrend?
MONEY MANAGEMENT PANEL
showing at the bottom-left of the chart
The most important thing for every trader is money management. If you’re not good at this, you should not trade or your account will be blown up soon.
By default, I set the most used risk ratio: 2%. You can change it if you want.
The amount in Lots is very useful for those who trade using MetaTrader 4 or MetaTrader 5. Put your stop-loss info in pips, the indicator will calculate for you the suitable lots size for a trade.
The unit size is helpful if you don’t use MetaTrader. In forex, the smallest unit is 1000, so just round up or round down the number the indicator showed. With unit size, please put your stop loss info in % (of the price) from the current price. I use this much when trading using TradingView integrated brokers & when trading crypto.
The text size of three panels can be changed from Tiny→ Small→ Normal→ Large→ Huge→ Auto. The default value is Small. If you use >4k monitors, you might be want to change the size to a larger one. The small size is suitable for normal laptops & mobile screens.
Please read the full article about my AIO — All In One Price Action Indicator below for more information & other functions of my indicator.
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Nguyen Tran