My Art of Trading with Risk Manager which reads BREAKOUT!
Art of Trading
Length`: Defined period for calculating the moving average and pullback/breakout levels (default is 14 candles).
- `threshold`: Defined pullback/breakout sensitivity value
**Pullback & Breakout Calculation:**
- `pullback`: The lowest closing price within the lookback period plus the threshold value. This helps identify potential pullbacks.
- `breakout`: The highest closing price within the lookback period minus the threshold value. This helps identify potential breakouts.
**Plotting:**
- The moving average (`ma`) is plotted on the chart in blue.
- A triangle-shaped signal is plotted below the bar when the current price is below the pullback level, indicating a pullback (red triangle pointing up).
- A triangle-shaped signal is plotted above the bar when the current price is above the breakout level, indicating a breakout (green triangle pointing down).
- **Alerts:**
- If the price falls below the pullback level, an alert is triggered with the message "Pullback detected!".
- If the price rises above the breakout level, an alert is triggered with the message "Breakout detected!".
Risk Manager (I've retraced in order to show the red and green direction as price moves)
The "ForexX_Risk_Manager" indicator leverages historical price data and moving averages to provide a calculated safety level for trading decisions. By analyzing past extremes and smoothing the current risk level, helps traders navigate their forex strategies with a clearer understanding of potential risks.
Follow the risk manager: I've retraced RM and added red and green for guidance. As the trend moves up in color green, that's because the RM is moving down in color green. The same goes for red but in the opposite direction
Length`: Defined period for calculating the moving average and pullback/breakout levels (default is 14 candles).
- `threshold`: Defined pullback/breakout sensitivity value
**Pullback & Breakout Calculation:**
- `pullback`: The lowest closing price within the lookback period plus the threshold value. This helps identify potential pullbacks.
- `breakout`: The highest closing price within the lookback period minus the threshold value. This helps identify potential breakouts.
**Plotting:**
- The moving average (`ma`) is plotted on the chart in blue.
- A triangle-shaped signal is plotted below the bar when the current price is below the pullback level, indicating a pullback (red triangle pointing up).
- A triangle-shaped signal is plotted above the bar when the current price is above the breakout level, indicating a breakout (green triangle pointing down).
- **Alerts:**
- If the price falls below the pullback level, an alert is triggered with the message "Pullback detected!".
- If the price rises above the breakout level, an alert is triggered with the message "Breakout detected!".
Risk Manager (I've retraced in order to show the red and green direction as price moves)
The "ForexX_Risk_Manager" indicator leverages historical price data and moving averages to provide a calculated safety level for trading decisions. By analyzing past extremes and smoothing the current risk level, helps traders navigate their forex strategies with a clearer understanding of potential risks.
Follow the risk manager: I've retraced RM and added red and green for guidance. As the trend moves up in color green, that's because the RM is moving down in color green. The same goes for red but in the opposite direction
Note
ATTENTION: BITCOIN is only testing, therefore will retest.
Retesting candles have read before this happened.
ART of Trading reads breakout potential on the 3D TF.
Note
I have a candle skew which prints out BULL and BEAR signals.
My candle skew reads potential TIDAL WAVE on the current candle of our 2MO TF yet can happen sooner.
Note
I have a HIDDEN BULLISH DIVERGENCE on my RSI 4HR VOLUME TF.
Let’s see how it unfolds
Although my analysis still reads BITCOIN weakness
Note
The secrets hidden behind BITCOIN will be unveiled sooner than we think. Why should I break the ice? Note
FYI: there might be a surge today, I’ve said before BITCOIN could reach over 70k before Sunday. Note
To many, there will be fear thinking BITCOIN is back as usual.
We don’t know the outcome but TA shows BITCOIN will continue moving up, maybe not now but will resume; right after dumping a few traders off the charter bus.
I will not get tired of saying this; Smart Money will never push up the price if there’s retail placing sell orders.
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