So in this video, I will show you
step by step how to set
up Trading View for the PowerX
Strategy. So let's
get started.
All right, so here's how to set up
Trading View for the PowerX Strategy
in eight simple steps.
So first of all, all
you need to do is go to
tradingview.com.
That is step number one.
Now, I recommend that you register
for Trading View, even if you go for
the, for the free version,
because this way you can get all
the features that I'm showing you
here in this video.
You might even consider upgrading
to the pro version, and the pro
version is $14.95
per month. That is the version that
I have, and I think
it is well worth the price.
So the first thing that you need to
do is bring up tradingview.com
and register for it.
So let's already move on to step
number two out of the eight steps
that I have for you.
So step number two, you want to
click on full feature
chart. You see, this is right here.
And when you click on full feature
chart, this is
what it comes up.
Since I'm logged in the charts
that I use is coming up.
So I want to show you what will come
up for you, which will be a
new chart layout.
So when you bring it up for the very
first time, this here
is exactly what the chart will
look like. Step number three.
You see, it's super easy, so step
number three. Here's what we want to
do, delete the volume.
You see the volume information here
on the bottom? I don't use volume.
So in order to have a clean
chart, I get rid of the volume
because you see, it's kind of in the
way of the prices right
here. So in order to do this
on the upper left-hand corner, you
see volume, you click on X.
And this is how it disappears.
So now it is already much cleaner
and that's what I like to do.
So this is how easy it is.
So let's move on, let's go to step
number four.
This is where we want to add the
indicators right now that I
personally use in my trading.
So the first indicator that I
like to use is the RSI.
Here's how you add indicators to
Trading View.
On the top here you see an F.
This is for function, right?
You see Disney or the
Dow, whatever you picked
here. And then you see the F,
that's what you want to click on and
then on the left, you look for
RSI.
This is the relative strength
index. And you see it shows a
built-in here, you just click on
the relative strength index and it
appears right on the chart.
So let's close this here.
Here's what I want you to do next.
Where you see the RSI 14,
I want you to click on this little
settings icon.
And when you do, we
have to adjust a few settings here.
So the first thing that you want to
do is change the setting from
14 to 7
because I'm using a seven
day RSI.
Now under style, I like
to change a few things.
You see, it is purple here right
now.
I like to actually change this,
to I leave it in purple, but I make
the line a little bit stronger.
You see, it's a little bit easier
for me to read this way.
And the upper band
I'm setting to 100
and the lower band I'm setting
to 50.
And the background, I like to set it
to green, so I'm using green
here with an opacity of
20.
So here's what it does.
When I click okay, right now, see
this what the RSI looks like right
now, and as you know, the indicators
that I like to use RSI, I want to
see that it is above
50 in order for
me to get a buy signal.
When it is below 50, it
is a sell signal.
So this is one of the three
indicators that I like to use.
The second indicator is
the stochastics.
So let's move on to step number
five, adding
the stochastics.
So very simple here again, you click
on the F, you just
type in here, stochastics,
you bring it up and
same deal as with the RSI.
We want to configure it a little bit
here on the stochastics you click
on the settings symbol, which
brings up the settings here.
So let's go to the inputs first.
So the inputs we leave at 14,
3 and 3.
And here's a few things that I do
regarding the style.
First of all, I don't need %K,
I only need %D, so I get rid
of %K, for the
%D I like to have this in
red actually, and
the line strength I like to have it
in 3.
So same here
upper band I'm changing this to 100
and the lower band to 50,
so upper band
100 lower band 50.
Very similar to the RSI.
See, it's super easy.
And the background I personally
prefer green with an opacity
of 20.
So exactly the same thing here
and hit okay.
As you can see, we're getting close
to what I usually have.
See? The first two look already
very, very similar.
This is what we did here.
These are my original settings.
Let's move on to step number six
add the MACD.
Very similar here again, you click
on the F and now we are looking for
the MACD.
The moving average convergence
divergence.
That's what we are looking for.
And again, we adjust the settings
here. I simply click on
this little settings symbol
right here.
And this brings up the MACD.
And I'm coming back to you on the
screen that we can do this together.
So here's what I'd like to do.
I don't use the histogram.
I get rid of their histogram here.
The MACD I personally prefer
to have it purple and
a little bit thicker here.
And the signal line, I like to have
orange and also a little
bit thicker.
There we go.
Precision I leave on default.
And that's pretty much it.
So there you go.
Now we have the three indicators.
You see they take a lot of room
here. So you can move these
indicators around, make the panes
a little bit smaller so
that you can arrange
any way you want.
OK, so there you go.
There you have the three indicators
and as you can see here on my
original chart settings and here is
what we just did.
So is this helpful thus far?
We will move on to step number
7 and 8.
So we only have two steps left.
But if this helpful thus far,
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So let's move on to step
number 7.
This is where you add the Rockwell
PowerX Bars.
See this is one of the things I like
to color my bars red
when I see that all the three
indicators are giving me a sell
signal.
And I like to color them green
whenever I see that all the three
indicators are giving me a
buy signal.
So I have created a little
library and here is how you at the
library. So this is step number
seven.
You click on the function here and
then you search for Rockwell.
OK? So when you do,
you search for Rockwell and it
should come up under Rockwell
Trading PowerX Bar Coloring.
Again, this is not official and
we'll talk about this, what it
means.
You simply bring this up here
and when you do,
you see right here you
have actually the bars
in the right colors.
Now, here's what I like to do
and this is where we go to step
number 8 now, which is the final
step. I want to make sure that I see
the bars and not the line.
So I right mouse click here,
click on settings and
I decrease the setting
for the line here to
1.
OK. So there
you have it.
These are the eight steps.
And here
is a lifesaver, you want
to save this template
here. So you want to make sure that
you are saving this template here,
you rename it to whatever you want.
You can rename this to
Rockwell PowerX Strategy.
OK, you save it because this way
you have it available under
templates whenever you need
it. See, you see, you can then
simply load the chart
layout.
So whenever you mess it up, you
don't have to do all of this
over. OK,
so let me come back to you because
there's a few more important things
that I want to mention.
So this is everything
that I describe in the book, The
PowerX Strategy on
Trading View here.
Now, keep in mind there is a huge
difference between Trading View
and the software that I personally
use PowerX Optimizer.
Because here's what it is.
On Trading View right now you see,
OK, when you should enter
and when you should exit, right?
But this is where on PowerX
Optimizer it actually shows you
exactly how this
stock would have performed over the
past year if you had applied
this strategy to the stocks if you
had traded the stock according to
the PowerX Strategy for the past
year. It is filtering out all
the stocks that give
you a new buy signal or new sell
signal because here's what you want
to do. You only want to take the
first buy signal or the first
sell signal. So don't enter into
a trade when the trend
is already gone.
So there are some major differences.
Please make sure this is just a
quick setting so that you see very
quickly is it more likely
to go up or is the stock
more likely to go down.
Anyhow, hope
you find this helpful, if you did,
do me a favor and give me a thumbs
up and also make sure that you
subscribe to this channel hit that
little notification bell because
this way you get a notification
whenever I release in your video and
right now I'm putting a few videos
that you might find helpful right
here on the screen.
Simply click on any of the videos
and hope you enjoy it.
And I'll see you in the next video.