CoinRotator TradingView Indicator: A Vital Tool for Crypto Traders
The right tools can significantly enhance your trading decisions.
One such tool is the CoinRotator Indicator developed by AresTV, available on TradingView. This post will delve into what the CoinRotator Indicator is and how to effectively use it in your trading routine.
Understanding the CoinRotator Indicator
It’s crucial to note that the CoinRotator indicator is not a standalone trading system but a tool to aid in managing your trades and understanding the visual trend status.
The indicator uses bands to signify support and resistance levels, primarily designed to align with the trend. The midline of the indicator can serve as an additional support or resistance level, acting as an invalidation point or a target.
To signal trading actions, the CoinRotator uses color-coded triangles:
Entry Points Exit Points
Green Up Triangle (▲) - Long Entry Orange Down Triangle (🔻) - Exit Point
Red Down Triangle (▼) - Short Entry Orange Up Triangle (🔺) - Exit Point
for long and short entry points the triangles are green and red. While orange triangles are for exit points for both long and short positions.
In all cases, you can consider these as mean reversion opportunities but definitely not on their own.
Utilizing the CoinRotator Indicator
To maximize the benefits of the CoinRotator Indicator, consider the following steps:
- Confirm the trend status of your chosen coin on Coinrotator.app and review the daily chart for complementary trends from the past 1–2 days.
- Once you have the direction established, scale down to a faster timeframe and look for a pullback against your chosen trade to enter.
- Once a trade is profitable, await an orange triangle signal to consider locking in profits or exiting the trade.
- Use the middle band as a balance point, aiming to take trend trades when the price aligns with the middle band.
- For detailed information on how to effectively enter and exit positions using the CoinRotator Indicator, refer to the discord channel #trend-talk.
Dollar-Cost Averaging (DCA)
With this technique, only buy when the market is in a heavy downtrend using either Green triangles or orange triangles but only after the market has sold off to an extreme.
Mean Reversion Technique
Here, wait for the price to enter the outer bands, then “probe against the trend” once an orange triangle appears and the next bar has begun. Use wide stops and reduce position size during this process.
Setting up CoinRotator Alerts
If you are able to upload the indicator on your Trading View charts, you can also take advantage of the built-in alerts of the CoinRotator indicator. This will signal each time an arrow forms. Be advised, it will form BEFORE a candle completes so it is very possible it can disappear. Simply ensure you have your timer set if you want to be more conservative before taking action.
A Note of Caution
The CoinRotator Tradingview Indicator is a powerful tool for identifying favorable trade conditions, but it’s not a substitute for a comprehensive trading system. It’s crucial to always employ sound risk management and integrate it with other high-time-frame CoinRotator trend alerts (available through coinrotator.app /discord or telegram) to reap maximum benefits.
Accessing and Updating the CoinRotator Indicator
Access to the CoinRotator Indicator is easy as long as you are a paid users of tradingView. To access it, you need to request and obtain permission from the Coinrotator team. We require you retweet this Twitter post and tag a trading friend. Next, you head to the discord #off-topic channel and share your retweet and your TradingView user name.
The CoinRotator Indicator has undergone recent updates to streamline alerts, fix alert formats, and introduced a more sensitive preset for lower timeframe traders. Just request access and see how it has helped others to make better-timed trades in crypto or any other market you trade in.