Education

GRAB OUR E-BOOK! This will help you gain confidence in knowing what to look for using indicators, and also shows how to use Trading Oracle's tools to maximize your potential in the market. 

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In this guide, we will walk you through setting up TradingOracle within your TradingView account. As well as explaining how each of our indicators/tools work.

To set up Trading Oracle after purchase, keep in mind you must have a TradingView account. They are completely free, and do not require the premium version to use Trading Oracle. 

After Purchase: It can take up to 24 hours for the indicator to be activated in your account, but typically only takes an hour or so. 

Step 1: Log into your TradingView account.

Step 2: Open the chart to whatever ticker you are trading. (Or any ticker for that matter) 

Step 3: Click on “Indicators” (Desktop will be at the top) Mobile will be at the bottom, you will need to click the “+” then “indicators”.

Step 4: When activated, you will see an “invite-only scripts” option. Open that, and you will see Trading Oracle.

Step 5: Follow the prompts to set it up in your chart, you will be asked to double click an area on the chart and you will see the signals come up. You can adjust your settings at this point as well.

If any issues arise, refer to this video to make the process more simple for you. 

BUY/SELL SIGNALS

Using our Buy and Sell signals can drastically improve not only your profits, but they also improve your overall trading experience. These are based on many factors such as current trends, MACD, Oversold/Overbought conditions, and much more. While we do not guarantee you to become Warren Buffet using these signals, with good risk management, the sky's the limit. 

Recommended Settings

• Sensitivity : 180-250 (This will provide less signals for better entries, and could limit shakeouts)
• Timeframe : This depends on your trading style. If you are the trader who does this full time and are used to making over 10-20 trades per day, we suggest using the 1m-3m charts. For traders who are not staring at the chart for the entire day, we suggest using 5m-15m charts. We also recommend HA candles.
• Trades To Make : This also varies. Most of our members day trade options with our signals, that is where the best results are given on a daily basis. We typically use buy signals to purchase ITM calls 1 DTE. The opposite for sell signals. (Puts)
  
  

Extended Oscillator (Smoothed Money Flow)

This tool is great to use as well. It calculates the current buying and selling pressure to possibly point to a bigger move coming. Using this in conjunction with our other tools, can provide serious insight on what your next trade should be. In the picture above, you can see as the green wave starts to increase, the price does as well, super easy to read. 

Bollinger Band Squeeze Tool 

Our Bollinger Band tool is a must use when you’re using Trading Oracle Pro. These show the relative strength/momentum of the current stock you’re trading. 

When the bands get closer together (squeezing) you can expect a big move up or down. Typically there will be a buy/sell signal directly after, and it usually implies a good sized move. 

Take Profit/Stop Loss Tool

Our long awaited TP & SL Tool is finally here. We are super excited for all of our members to start using this, to not only maximize profits, but to also teach some risk management, as that is what most traders struggle with. This tool gives you a limit of 3 profit taking levels, you can use less if you desire. As well as a stop loss level. 

Our default settings are a good starting point, but we suggest creating your own that works for your trading style. You will see these options in the settings.

Stop Loss ATR Length : This indicates what time period you want your ATR (Average True Range) Stop Loss you want it set at. For day traders we suggest 3-5. Swing traders, 7-10. You can have great success using this all the way up to 25 trading the right stock. If you do not know what ATR means or how it works, we suggest doing a quick search and learning about it as it could help the way you look at these different levels. 

Stop Loss ATR Multiplier: This will multiply the ATR that is calculated from the first input of however many days you selected, and give you a valid stop loss. We typically recommend this staying around 1.5 up to 3. 

Take Profit 1,2, and 3: This setting is what you use to determine your profit taking levels using our R:R system. (Risk to Reward) In a nutshell, you see 1,2, and 3. For the first profit taking level, a good starting point would be 2-3. For the second profit taking level, 4-5. For the third, 6-7. This is saying that you expect to invest $1 to make $3. Or $2 to make $5, etc.. You can also use these as more of a tool for yourself to stay in a system you made for yourself and sticking to it. There are so many ways you can use this, and like all of our other tools, we recommend playing around with them, and finding what works best for you.

Trend Channel Tool

Our Trend Channel Tool has also been added along with our TP & SL tools. This is a very basic but extremely powerful strategy to implement to your chart. Obviously, in the name “Trend” you can guess it's based on the current trend. It also shows different support/resistance levels as the price increases. So in short, if you see a bar break above resistance in an uptrend, its very possible that it could make a big move up, and this is also the case if a bar closes below the support line.

Dynamic Support & Resistance

Our Dynamic Support & Resistance levels are another crucial tool to have while using our strategy. These help you be able to identify key levels of support and resistance so you can determine a better entry point by playing bounces or possible rejections. 

You can adjust the settings on this based on how far out you want your data to be. For example, the higher your setting on this, the further back it looks to gather data to provide support and resistance lines.

Consolidation Zones

Our consolidation zones are a great way to be able to identify if we are consolidating, trading in a range, or breaking through a trend. We have noticed this to be a big issue with traders not being able to identify choppy or consolidating market moves, so this tool eliminates that issue.

VWAP

VWAP is the average price of a stock weighted by volume. By monitoring VWAP, you can get an idea of a stock's liquidity and the price buyers and sellers agree is fair at a specific time. The VWAP indicator can be used by day traders to monitor intraday price movement. Institutions and algorithms might use VWAP to figure out the average price of large orders.

Reversal Bands

Our Reversal Bands are another member favorite. These bands are used to be able to identify if we are reaching overbought or oversold territory, the deeper price goes into the bands, the better chance you have to see a potential reversal.

Golden & Slingshot Signals

Our Golden and Slingshot Signals are one of our newest additions to Trading Oracle. These signals are meant to produce a higher probability than our normal buy and sell signals. These monitor EMA's in addition to other market patterns that calculate when is a good time to enter, as well as how long to stay in that current trade. 

You will sometimes see consecutive Golden Buy Signals, in that case, our algorithm  is detecting clear trend movement, and you could either scale into your current position, or take profit. This tool is there to provide a better overall signal that you can take, and be confident in. 

These tools we are offering, and adding to Trading Oracle are just scratching the surface. We have big plans for 2024, and we will be adding many more tools, and anything we can to help all of our members succeed. We do take recommendations as well, so if you have any ideas for anything, we would love to hear them. Just email us at support@mytradingoracle.com

We will update this guide accordingly.