BTC Daily Update
This is going to be a way to make sure I'm monitoring the BTC daily trend, as BTC price is still the most significant influence on the crypto market. If you are not watching the BTC chart regardless of which crypto you are trading, then you are going to be trading with a handicap.
I'll be charting using a mixture of trend lines and free indicators available on Tradingview (TV). The following indicators are being used:
MACD 4C - A great tool for following the broader trend whilst highlighting significant shifts in momentum direction.
ADX DIv - This is an indicator I modified from the existing one found on TV. Please forgive my slap together coding if you venture into Pinescript, I'm clearly no coder... I've added an extra ADX line so as to highlight DIvergence/Convergence in the trend strength. This is one of my favourite indicators because it not only shows the trend direction but also its strength. Taking a buy signal whilst the histogram is still red should only be done if the green line (DI+) is rising strongly and about to cross the red (DI-). Also, if the ADX lines are below the threshold (I've set it at 23), then there is no trend and signals have a much higher chance of being false. For higher probability trade, wait for rising ADX.
SQZMOM - First a quick shout out to "Lazybear". I don't know who this guy is but he is the god of indicators. I've looked through many of his indicator builds and he is clearly an extremely valuable resource for the TA community. Thanks, LB !! SQZMOM is no exception to this. I mostly use this one as a confirmation of trend direction/change, and it helps me not enter or exit trades too early. Along its centerline are grey and yellow dots. Grey dots indicate low volatility / flat price action. Yellow dots indicate high volatility / trending market. Lower risk entries can be had by entering on the first yellow dot when the histogram flips from one colour to another.
VWMACD - Taking volume into consideration when trading is very important as it can show you what strength is behind a move. I big move on low volume is not to be trusted. This "Volume Weighted MACD" take volume into consideration and is faster moving than the "MACD 4C". This indicator needs to be green for me to enter a long, or red for a short. Its histogram is also useful for indicating whether a trend is increasing or decreasing in strength, alerting that a trend "might" be ending soon.
Today
I'll be charting using a mixture of trend lines and free indicators available on Tradingview (TV). The following indicators are being used:
MACD 4C - A great tool for following the broader trend whilst highlighting significant shifts in momentum direction.
ADX DIv - This is an indicator I modified from the existing one found on TV. Please forgive my slap together coding if you venture into Pinescript, I'm clearly no coder... I've added an extra ADX line so as to highlight DIvergence/Convergence in the trend strength. This is one of my favourite indicators because it not only shows the trend direction but also its strength. Taking a buy signal whilst the histogram is still red should only be done if the green line (DI+) is rising strongly and about to cross the red (DI-). Also, if the ADX lines are below the threshold (I've set it at 23), then there is no trend and signals have a much higher chance of being false. For higher probability trade, wait for rising ADX.
SQZMOM - First a quick shout out to "Lazybear". I don't know who this guy is but he is the god of indicators. I've looked through many of his indicator builds and he is clearly an extremely valuable resource for the TA community. Thanks, LB !! SQZMOM is no exception to this. I mostly use this one as a confirmation of trend direction/change, and it helps me not enter or exit trades too early. Along its centerline are grey and yellow dots. Grey dots indicate low volatility / flat price action. Yellow dots indicate high volatility / trending market. Lower risk entries can be had by entering on the first yellow dot when the histogram flips from one colour to another.
VWMACD - Taking volume into consideration when trading is very important as it can show you what strength is behind a move. I big move on low volume is not to be trusted. This "Volume Weighted MACD" take volume into consideration and is faster moving than the "MACD 4C". This indicator needs to be green for me to enter a long, or red for a short. Its histogram is also useful for indicating whether a trend is increasing or decreasing in strength, alerting that a trend "might" be ending soon.
Today
Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.