Price Action Scanner Crypto
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Check : Trading Room Price Action Scanner  here

What is Price Action Trading?

Price Action trading is a technique by which traders analyze the markets and then makes a decision based on the price movements on the chart, as opposed to by relying on lagging indicators. Most popular indicators are anyways derived from prices on the chart, and are reflective of past price action.

Price Action Trading is all about taking your trading decisions from a naked price chart by  stripping down most complicated indicators. Price Action Traders generally don’t use most lagging indicators barring may be some key Moving Averages / Fib Levels to identify dynamic Support and Resistance Levels. Most Price Action Traders follow the Price Action & Trail their Entry, Stops & Targets based on where the Price is moving. One of the Hallmark of this strategy is, the Price Action Traders don’t rely on static price levels.

How Trading Room Price Action Scanner works ?

The Scanner consists of two distinct Portions

  • Trend Scanner
  • LIVE Fibonacci Scanner

The Trend Scanner helps detect Trends across 8 Timeframes for 300 Coin Pairs from Binance (Other Exchange Support will be added soon)

The Trend Scanner scans 300 Coins Pairs x 8 Time Frames  = 2400 Charts in Real time to identify the Trends & delivers following output

  • Dark Green – Strong Up Trend
  • Dark Pink – Strong Down Trend
  • Light Green – Sideways with Bullish Tone
  • Light Pink – Sideways with Bearish Tone
  • Grey – Sideways with No Bias

Check the following Image to understand the color codes

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Different time-frames may throw different Trend Results. for Example a coin may be in an up trend in larger time-frame but down trending in lower time frames or vice versa. the Key is identify larger trends / trend reversals early on and ride the trends on pullback in local time frames.

Who can use it ?

The Price Action Scanner is meant to be used by Pro Traders as well as New Traders. Pro Traders will find it easy to use and help them save a lot of time. New Traders must learn Support Resistance Trading in order to more effectively use this. Join one of our upcoming LIVE Training Programs if you are New & looking to learn

Price Action Scanner – How to interpret Different Trend Combinations?

All Green in all time frames may indicate a Strong Up Trend in all time frames resulting in large impulse move on upside. This is only a probability and not a norm but thats a good enough indication to look for going Long on pullbacks based on Price Action. Off Course a parabolic Up Trend also means, Trend Reversal is likely. Looking at the Smaller Time Frame trends, you can easily identify when local time frames starts reversing the Trend. Wherever possible one can take Trend Reversal SHORT position based on Price Action

On the other side, All Pink in all time frames may indicate a Strong Down Trend resulting in further drops in the Asset’s Price. However that can also mean, Price Reversal is around the corner if the Down Trend is exhausting. Trend Scanner helps you identify Strong Down Trending Assets. One can look for a SHORT on Pullback or Long on Exhaustion of the Trend based on Price Action Analysis (We will discuss Price Action below)

In Nutshell, The Trend Scanner helps you eliminate the need to check 8 different charts in order to understand Trends across different timeframes. You can get a Single View of whats trending and in which time frame, thereby helping you saving your time immensely

We will be conducting LIVE Webinars to understand, How to Interpret & use Trend Scanner in Real Time to identify Trade Setups. Please signup here for a Free Invitation. We have Limited Spots for the first batch so the entry is on first come first serve basis.

What is LIVE Fibonacci Levels & how they works ?

The heart of our Price Action Strategy is based on big impulse Moves & Pullbacks thereafter. We will not go into the details about “What is Fibonacci Retracement & how it works”. Our assumption is, You already know what is Fibonacci Levels & How they work. If you are new & do not have an idea about how Fibonacci Levels work, we will be conducting LIVE Interactive Training Sessions on the following Topics soon:

  • Support & Resistance Zones
  • What is Trend ? & How to Trade Trends ?
  • Fibonacci Retracement
  • Moving Average Crossovers
  • Horizontal Support Areas
  • RSI
  • How to trade Breakouts ?

We will announce the dates for the LIVE Interactive Training soon. Now Lets move onto What is LIVE Fibonacci Levels & how they work ?

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Price Action Scanner scans LIVE Fibonacci Levels for BUY Side & Sell Side Price Action for 11 Time Periods spanning across right from 500 Days to 6 Hours. My personal favorite is 3 Days & 7 Days time period but i also use 1 Day, 2 Day & 15 Days quite often. The LIVE Fibonacci Scanner gives you Real Time Fibonacci Levels for Assets for that particular Time Period for both BUY & SELL Side.

For Example when you check 7 Days Period, you can see which assets have moved the most and whats their current pullback level ? Similarly when you check 3 Days, you can check the Peak Movers in last 3 days and their LIVE Fibonacci Levels.

With one Glance you can track more than 300 coins x 11 Time Frames & view their LIVE Fib Levels. This allows you to save huge amount of time as you can move straight to only those assets which have moved the most and which offers a reasonable pull back entries. The Tool allows you to quickly also check Trends across 8 Time Frames for the same asset. So imagine you can identify the Top Movers in different Periods & their LIVE FIB level and scan their Trends in Real time, all in Single VIEW. As is said this is a game changer innovation & patent filling is under active process for the same

So you have the Trends, You have the Peak Movers & You have the Fib Levels. Now all you need is open those charts, quickly assess them & setup your trades if you like what you see. However, to make your life easy, we will be conducting several rounds of LIVE Interactive Training Webinars. Click Here to Join the First Batch

The Training will include the following:

What is Price Action Scanner ?

How it works ?

What does different Colours mean ?

What is a Fibo Period ?

What is BUY / SELL Fibo ?

How to SORT Biggest Movers ?

How to interpret different color codes ?

How to identify Trade Setups ?

What does different Time frame means ?

How to define Entries ?

How to identify Targets ?

Where to place Stops ?

How to identify Scammy Coins ? How to identify Pump & Dump patterns ?

Why MarketCap and Volume is important ?

Before you join the Training, pls ensure to watch some YouTube Videos on following Topics, so you can relate better:

  • Support & Resistance Zones
  • What is Trend ?
  • Fibonacci Retracement
  • Moving Average Crossovers
  • Horizontal Support Areas
  • RSI

We are bringing the LIVE Training Program in Association with with ChingasX, Please read our announcement here.

I can promise you, your life will be much more easier once you learn how to use price action scanner and our other tools. Your everyday dilemma of what to trade today will disappear as you will have a clear direction, strategy, plan and tools in place to identify good quality trade setups.

Register here for the first introductory Webinar

Send us your suggestions by emails to feedback@tradingroom.io

For Advertising & Sponsorship inquiries, pls contact advt@tradingroom.io

Legal Disclaimer: All Information & Technical Analysis Modules are based on Proven Tech Analysis methods and strategies. However as always do your own research before taking any trading positions based on any on-line or social media posts including ours.

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Cryptocurrencies: 7,625
Markets: 489
Marketcap: $ 286,857,043,550
24h Vol: $ 72,828,342,337
BTC Dominance: 65.10%