Proof of concept indicator. Intended usage: to create confidence in buying a dump, or selling a pump. This is not a trending tool.
It works by monitoring spikes in volume as well as abnormally ATR. Generally speaking, bitcoin reverses every time there's a one candle spike with no following volume. There is a limit in which a signal is triggered in case bitcoin continues running. Other preventive measures include a modified MFI and fairy dust.
In future iterations, take profits and stop losses will be implemented also based upon average candle percentage move rather than ATR.
It works by monitoring spikes in volume as well as abnormally ATR. Generally speaking, bitcoin reverses every time there's a one candle spike with no following volume. There is a limit in which a signal is triggered in case bitcoin continues running. Other preventive measures include a modified MFI and fairy dust.
In future iterations, take profits and stop losses will be implemented also based upon average candle percentage move rather than ATR.
Versionshinweise:
Bug fixes
My published indicators: www.tradingview.com/u/NeoButane/
Sorry if I haven't replied to your message yet, I'm a bit backlogged :)
Sorry if I haven't replied to your message yet, I'm a bit backlogged :)