deniskov
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How to find market bottoms

-- HOW TO FIND MARKET BOTTOMS --

Here we see that btcusdlongs/btcusdshorts gets a huge spike upwards while bitcoin             itself is going down.
Similar to RSI , this is a classic divergence that shows that people don't feel safe holding shorts any longer and/or want to go long and catch the bottom.

With a btc/usd overlay it's very easy to see how during previous btc             bottoms, btcusdlongs/shorts gets a huge spike and soon after btc/usd rebounds as well.

Another tool i like to use is the cm             williams vix             fix that finds market bottoms by itself, just make sure to use it on multiple larger time frames to confirm the absolute bottom.

Thanks for the TA, any chance you can share your pine script? Thanks!
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@ascorbic, I didn't make any pine scripts, if you're interested in the indicator with green bars on the bottom that's the CM_Williams_Vix_Fix which is accessible in the public library of indicators.
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nice TA
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I randomly found about this on youtube during the weekend. How do you use Vix fix? On long/shorts or usd chart? Is it good for day trading or do you have to tweak it?
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Acel PRO BimTrown
@BimTrown, yeah i have notice the 3 fullstops next to each script... Do you use it for day trading? And if yes what settings and timeframe?
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@Acel, hey, I use vix fix on almost any chart, it's a good indicator for finding bottoms during both regular dips and big crashes.
I use it mostly on the four hour chart, and make sure to check the hourly for confirmation.
If both of them look completely bottomed out and overextended downwards, that gives me a very strong buy signal and confidence to buy during long red streaks.
I dont use it on the longs/shorts chart but rather on the actual usd price chart, just kept it there on this chart for others to see what it's called and how it looks.
hope that helps :)
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Acel PRO deniskov
@deniskov, yeah thanks for the reply, i have played around with it, but sometimes there is noise. Yes, it catches the bottom but it may be followed by another one. Did you play with different settings for filtering out the noise?
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@Acel, I use default settings but i use this indicator as kind of a backup one when I'm looking for bottoms.
It's very useful for occasions where something seems to be crashing and looks like a good buy, but the indicator is still grey with medium bars indicating a possible bull trap and then crash continuation.
Sometimes there is noise but once you see a couple tall greens on the 1h/4h chart, along with high volume and parabolic movement or a compressed-spring like movement, it should be a solid bottom more than 75% of the time, and i'm content with those odds.
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Acel PRO deniskov
@deniskov, I see, thanks. I think i saw an "imporved" version with EMA (and probably RSI?) for better filtering, from the same guy. Give it a shot.

I think its a good indicator but needs imporvement or using it with other ones for better results.
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