Bull Bear Bars
Highlights when the candlesticks movement is also supported by a major increase in volume. Thus one can assume that a bullish or bearish follow thru is likely to occur.
Blue = bullish
Yellow = bearish
With this i enter only if the blue high or yellow low is surpassed by the very next candle, if not i dont enter.
Example.** In
XBT’s month long November 2019 downtrend, I calculated my long entries in chart (without even highlighting the short entries!)
Only once during this month after a Blue bullish bars high was surpassed did the price fail to advance atleast 1% before any significant drawdown occurs. (As indicated by thumbs up & thumbs down on chart)
*** When using this please Keep in mind that blue bull bars can and do appear at the top of upswings; likewise yellow bear bars can and do appear at the bottom of downswings. (Which can be used to signal potential reversals i.e. “buy when everyone is selling, sell when everyone is buying.”) This is a common occurrence of retail being late to the party and buying the top heavily/selling the bottom heavily, providing liquidity for early entrants to exit and then price reverses on those who were late.****
Many different ways this can be used but good luck in finding the method that this indicator is best used for you. Cheers
Bonus: Also includes ability to set alerts!
Blue = bullish
Yellow = bearish
With this i enter only if the blue high or yellow low is surpassed by the very next candle, if not i dont enter.
Example.** In
XBT’s month long November 2019 downtrend, I calculated my long entries in chart (without even highlighting the short entries!) Only once during this month after a Blue bullish bars high was surpassed did the price fail to advance atleast 1% before any significant drawdown occurs. (As indicated by thumbs up & thumbs down on chart)
*** When using this please Keep in mind that blue bull bars can and do appear at the top of upswings; likewise yellow bear bars can and do appear at the bottom of downswings. (Which can be used to signal potential reversals i.e. “buy when everyone is selling, sell when everyone is buying.”) This is a common occurrence of retail being late to the party and buying the top heavily/selling the bottom heavily, providing liquidity for early entrants to exit and then price reverses on those who were late.****
Many different ways this can be used but good luck in finding the method that this indicator is best used for you. Cheers
Bonus: Also includes ability to set alerts!
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