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Volume 20% Above 100-day Avg & Below 200-day MA
This custom indicator is designed to assist cryptocurrency traders in identifying potential trading opportunities based on volume and moving average analysis. It highlights tokens that meet specific criteria, helping users to gauge potential market strength and reversals.
Features:
Volume Above 100-day Average: The indicator plots the 100-day volume average on the chart (blue line) and displays the percentage change in volume from the average (gray line). Green columns indicate volumes that are 20% or more above the 100-day average.
Below 200-day Moving Average: The indicator calculates and plots the 200-day moving average (orange line) of the token's closing price. This moving average acts as a long-term trend reference.
Market Conditions Highlighting: When the token's volume is above the 100-day average and the closing price is below the 200-day moving average, the indicator highlights the bars in the chart with a transparent red color. This condition can be indicative of potential reversal opportunities.
How to Use:
Volume Strength: Observe the green columns on the chart, which indicate periods of higher-than-average volume. These spikes can suggest increased market interest and potential price movements.
Long-Term Trend: Monitor the position of the closing price concerning the 200-day moving average. Prices below the moving average suggest a potential downtrend, while prices above the moving average imply a potential uptrend.
Reversal Opportunities: Focus on bars highlighted with a transparent red color. These are instances when the token's volume is above the 100-day average, while the closing price is below the 200-day moving average. Such situations may indicate potential reversal points.
Please note that this indicator should not be used in isolation for trading decisions. It is essential to combine it with other technical and fundamental analysis tools to form a comprehensive trading strategy.
Remember to backtest this indicator on historical data and adjust the input parameters to suit your trading preferences and risk tolerance.
Disclaimer: Trading cryptocurrencies involves significant risk, and past performance does not guarantee future results. Always exercise caution and perform your research before making any trading decisions.
Features:
Volume Above 100-day Average: The indicator plots the 100-day volume average on the chart (blue line) and displays the percentage change in volume from the average (gray line). Green columns indicate volumes that are 20% or more above the 100-day average.
Below 200-day Moving Average: The indicator calculates and plots the 200-day moving average (orange line) of the token's closing price. This moving average acts as a long-term trend reference.
Market Conditions Highlighting: When the token's volume is above the 100-day average and the closing price is below the 200-day moving average, the indicator highlights the bars in the chart with a transparent red color. This condition can be indicative of potential reversal opportunities.
How to Use:
Volume Strength: Observe the green columns on the chart, which indicate periods of higher-than-average volume. These spikes can suggest increased market interest and potential price movements.
Long-Term Trend: Monitor the position of the closing price concerning the 200-day moving average. Prices below the moving average suggest a potential downtrend, while prices above the moving average imply a potential uptrend.
Reversal Opportunities: Focus on bars highlighted with a transparent red color. These are instances when the token's volume is above the 100-day average, while the closing price is below the 200-day moving average. Such situations may indicate potential reversal points.
Please note that this indicator should not be used in isolation for trading decisions. It is essential to combine it with other technical and fundamental analysis tools to form a comprehensive trading strategy.
Remember to backtest this indicator on historical data and adjust the input parameters to suit your trading preferences and risk tolerance.
Disclaimer: Trading cryptocurrencies involves significant risk, and past performance does not guarantee future results. Always exercise caution and perform your research before making any trading decisions.
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