The Logical Trading Indicator V.2 continues to evolve and advance with new features! The Version 2.1 update contains a really awesome new option and a few changes on the backend and in the settings to make things a bit more clear.
The biggest additional feature added to this new update is the ability to select the VWAP, or Volume Weighted Average Price, as your basis line! This option will automatically turn off the outer Bollinger Bands as those didn't really work well with the VWAP being the basis line.
This is a great option for those that trade more on volume based indicators. It works well on the 1HR and below and shines on the 5-15 minute timeframes.
The take profit signals are still running with the original Bollinger Band calculations and work well with the VWAP, but my strategy has been to use the supply and demand order blocks as take profit points with the VWAP strategy.
Another part of my VWAP strategy is using the Momentum Arrows which help you get a better gauge on the market volatility.
I am already working on some future additions to the indicator, but for now I want to get this update out to everyone because it's just too good to hold back! Hopefully this multi-purpose indicator can help you along your trading journey!
If you have purchased a copy of the Logical Trading Indicator V.2, go to the Gumroad library to get the latest update of the indicator and add it to your chart! If you have any questions about the update or usage of the indicator, come chat with me over in the Logical Trading Academy Discord server. I know not much activity is there yet, but 2024 is going to see a big surge in my content so hopefully we can get some people joining out little trading community!
If you haven't purchased the indicator, you can try out the Logical Trading Indicator V.1 for free on TradingView now! So give it a test drive and if you want more, that's what Version 2 is for!
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