SPY Day Trading Using @mwrightinc Indicators
Give a man a fish, and you feed him for a day. Teach a man to fish, and you feed him for a lifetime. In this video, I explain how I use 4 free TradingView indicators to identify entries on SPY.
There is a lot of information out there about creating support and resistance zones. But, drawing reliable ones only comes with experience. In my 3 years of options trading and indicator building, I've found a few patterns that seem to work pretty reliably with SPY.
Order blocks, and SPY price levels at $2.50 increments, are 2 of the most predictable. To capture price movements based on these, I explain how I use the QQQ and SPY Price Levels [MW] and Magic Order Blocks [MW] indicators with SPY options and /MES futures trading.
Additionally, volume weighted average price (VWAP), plays an important role every day because institutional (large) investors commonly use it for entries and exits. It is a great gauge of daily trends. ATR bands (also known as Keltner Channels) can also provide an at-a-glance look at what can be expected of price action in the near future.
To monitor these, I explain how I use the ATR Bands (Keltner Channels) SRSI and Wick Signals [MW] and Multi VWAP [MW] indicators. Specifically, how they were used on the 11/13/2024 Trading day.
All of the indicators are free and open source, and were built with the goal of making everyone a better trader. I hope you find the content useful.
- Mo
There is a lot of information out there about creating support and resistance zones. But, drawing reliable ones only comes with experience. In my 3 years of options trading and indicator building, I've found a few patterns that seem to work pretty reliably with SPY.
Order blocks, and SPY price levels at $2.50 increments, are 2 of the most predictable. To capture price movements based on these, I explain how I use the QQQ and SPY Price Levels [MW] and Magic Order Blocks [MW] indicators with SPY options and /MES futures trading.
Additionally, volume weighted average price (VWAP), plays an important role every day because institutional (large) investors commonly use it for entries and exits. It is a great gauge of daily trends. ATR bands (also known as Keltner Channels) can also provide an at-a-glance look at what can be expected of price action in the near future.
To monitor these, I explain how I use the ATR Bands (Keltner Channels) SRSI and Wick Signals [MW] and Multi VWAP [MW] indicators. Specifically, how they were used on the 11/13/2024 Trading day.
All of the indicators are free and open source, and were built with the goal of making everyone a better trader. I hope you find the content useful.
- Mo
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