Trend analysis combined with top and bottom signals. This indicator is aimed at minimizing risk by trading with the trend.
Blue candle coloring shows a
Orange candle coloring shows a
- Blue Triangle - Trend reversal ( to )
- Blue Cross - Local bottom while in a
- Blue Cross w/ Circle - Local bottom while in a
- Orange Triangle - Trend reversal ( to )
- Orange Cross - Local top while in a
- Orange Cross w/ Circle - Local bottom while in a
TRADE WITH THE TREND
While the trend is (blue) ONLY LONG.
Long trend reversal signals (blue triangle).
Long bottom signals (blue cross) and then take profits on top signals (orange cross w/ circle). DO NOT short top signals while in a .
While the trend is (orange) ONLY SHORT.
Short trend reversal signals (orange triangle).
Short top signals (orange cross) and then take profits on bottom signals (blue cross w/ circle). DO NOT long top signals while in a .
Stop Loss/Take Profit Bands:
Stop Loss and Take Profit Bands are provided to encourage the setting of both a SL and a TP (methods to minimize risk). When entering a long, set a SL at the SL band value of the signal candle (defaulted to 1%). Set a TP at the TP band value of the signal candle (defaulted to 1.8%). Default percentages are under the assumption of 10x trading leverage.
It's advised to turn off candle borders and to change candle colors to match the colors used in the indicator (default blue and orange).
This indicator is specifically tuned for BTCUSD and is most effective on the 1 HOUR time frame. Be warned when trading any other instrument with this oscillator.
Looking forward to see where this goes man!