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Loses momentum below the mid-1.0500Hello dear friends! What do you think, will EURUSD rise or fall next? Let's find out more about this currency pair with Karina! As Karina mentioned in the previous article, EURUSD will rise but only as a correction and will soon be pushed back down when it reaches 1.070. This currency pair is facing some selling pressure due to the stronger US dollar (USD) and optimistic economic data in the Eurozone. Moreover, recent tensions in the Middle East have also raised concerns about the declining growth prospects of the region. Market investors are waiting for the European Central Bank's (ECB) interest rate decision on Thursday, which is expected to keep rates unchanged at the October meeting. On the chart: The Bollinger Bands are expanding, and after touching the upper limit, the price has turned downwards. The immediate target for EU may be to form a DOW pattern and continue the trend with three important targets sequentially at 1.053, 1.050, and finally 1.045. If you find this article helpful, please share it with others. Don't forget to give Karina a like and follow !
Short
by Karina_Bella
18
BTC/USD 1 Week ChartOn Monday, BTC had finally crossed above and broke through its major resistance area located on this 1 week charts at $32,415 - $27,785. Note: BTC is still in a Rising Wedge Pattern as well as an Upwards Channel Pattern. BTC is still in a massive Megaphone/Broadening Wedge Pattern otherwise known as an Ichimoku Y-Wave Pattern. Take Note of the Liquidity Voids. Note that the 50MA is moving upwards so if we continue having positive momentum, we will eventually see a Golden Cross on this BTC/USD 1 Week Chart when the 50MA (Yellow Line) crosses back above the 200MA (Red Line). Here is a closer look at this BTC/USD 1 Week Chart. RSI: Note that the RSI has crossed into the Overbought Zone. Don't panic! The RSI Line can continue continue going further upwards as well as range sideways in this zone. Up/Down Volume:
BITSTAMP:BTCUSD
by TradingThroughTheLens
3
Gold today: Continue to increase pricesHello dear friends, do you think gold will increase or decrease today? Gold is currently holding well at its recovery level since it last dropped to a low price of $1810. It is currently trading steadily at $1860 - $1861. On the 4-hour chart, we can observe that after the Bollinger Band narrowed at $1822, it has expanded and the upward trend has been established as predicted by Karina earlier. Currently, the Bollinger Band is still maintaining a good expanding trend. With important news being received in the market today, personally, I predict that gold will experience a slight correction down to $1840 (which coincides with the Bollinger Band's support line) before using it as a support level to continue its upward movement. Additionally, Karina still holds a high evaluation for a recovery price target of $1900 at the moment.
OANDA:XAUUSD
by Karina_Bella
3
Comments on gold price next week: Returning price again?Hello smart traders! In today's analysis with excellent insights from Trading View, we can observe that gold is currently moving steadily within the body of the Bollinger Band with an expanding trend. Additionally, the Fibonacci measurement indicates an upward trend with price levels targeting 1839 USD and subsequently 1862 USD. If you find this information helpful and valuable, please share it with your friends and give Karina a like and follow to provide Karina with more motivation!
OANDA:XAUUSD
by Karina_Bella
5
BTC/USDHere is a closer look at the BTC/USD 1 day chart: At the moment of typing this BTC/USD is ranging sideways within the range of around $31,479 and around $29,627 as highlighted by the Horizontal Dotted White Lines with Yellow Shading. BTC/USD is in a Ichimoku Y-Wave Pattern otherwise known as a Broadening Wedge Pattern or a Megaphone Pattern on this 1 day timeframe. We have contraction of the Bollinger Bands Upper and Lower Bands. Note that at the moment of typing this BTC has found support from its Middle Band Basis 20 Period SMA. I have added 2 Fixed Range Volume Profiles (FRVP). The 1st VFVP starts at the impulse from Thursday 15th June until Thursday 22nd June. Note that BTC is well above this FRVP POC (Point of Control). The 2nd is at the start of the Ranging Sideways Movement from Friday 23rd June until Friday 7th June. Note that BTC is below this FRVP POC (Point of Control). I have added a Fib Retracement Tool from the low at the start of the Impulse to the recent high. As you can see BTC/USD has found some support from its 0.236 / 23.60% Fib level. I have also added a Trend-Based Fib Extension Tool so you can see the various Support and Resistance lines for this tool with the high/low range i have selected. BTC/USD is still below its Least Squares Moving Average (LSMA) indicator. Note that the Price has not closed above the LSMA since Thursday 29th June. Looking at the Moving Average Convergence Divergence (MACD) we can see that the MACD Line had crossed below its Signal Line on Thursday 6th July but both lines are still in the Positive Zone above the 0.00 Base Line. All in all it’s interesting times, at the moment of typing this BTC/USD momentum is moving within a Range: For the positive side: An impulse move upwards with strong bullish volume with a successful daily candle CLOSE above $31,479 and successful re-test as strong SUPPORT is key for a bullish outlook. For the negative side: An impulse move downwards with strong bearish volume with a successful daily candle CLOSE below $29,627 and successful re-test as strong RESISTANCE is key for a bearish outlook. I hope this quick BTC/USD post is helpful.
BINANCE:BTCUSD
by TradingThroughTheLens
2
Bollinger Bands: Investment Guide 📊🚀📉 The Basics: Bollinger Bands consist of three lines – the middle line is the simple moving average (SMA), while the upper and lower bands are set at a certain standard deviation from the SMA. They act as dynamic support and resistance levels. 🌟 Long-Term Perspective: Bollinger Bands are highly versatile and well-suited for long-term investors. They provide valuable insights into Bitcoin's price volatility over time. 💡 The Buy Signal: One effective strategy for long-term investors is to consider buying Bitcoin when it retests the lower Bollinger Band. This can indicate that the asset is undervalued, and it may be a good entry point for a long-term position. 🔍 Risk Management: While Bollinger Bands are powerful tools, always complement them with risk management strategies. Diversify your portfolio, set stop-loss orders, and conduct thorough research. 🔮 The Future of Bitcoin: Bollinger Bands are just one tool in your investment toolkit. They can help you make informed decisions in the dynamic world of cryptocurrencies, but remember that no signal is foolproof. In conclusion, Bollinger Bands offer a valuable perspective for long-term Bitcoin investors. Using them to identify buy signals during lower boundary retests can be a smart strategy. Combine this with proper risk management for a well-rounded approach to investing. Stay analytical, stay patient, and remember – in the world of crypto, a long-term vision can be your greatest asset! 🌐💰 ❗See related ideas below❗ Follow + Like this post and share your insights in the comments; your engagement fuels the creation of valuable content! 💚💚💚
Long
by Yaroslav_Krasko
1
Jubilant Pharmova Limited - Bullish on Chart📊 Script: JUBLPHARMA (JUBILANT PHARMOVA LIMITED) 📊 Nifty50 Stock: NO 📊 Sectoral Index: N/A 📊 Sector: Healthcare 📊 Industry: Pharmaceuticals Key highlights: 💡⚡ 📈 Script is trading at upper band of Bollinger Bands (BB) and giving breakout of it. 📈 MACD is giving crossover. 📈 Double Moving Averages also giving crossover. 📈 Volume is increasing along with price which is volume breakout. 📈 Current RSI is around 69. 📈 One can go for Swing Trade. ⏱️ C.M.P 📑💰- 370 🟢 Target 🎯🏆 - 450 ⚠️ Stoploss ☠️🚫 - 329 ⚠️ Important: Always maintain your Risk & Reward Ratio. ⚠️ Purely technical based pick. ✅Like and follow to never miss a new idea!✅ Disclaimer: I am not SEBI Registered Advisor. My posts are purely for training and educational purposes. Eat🍜 Sleep😴 TradingView📈 Repeat🔁 Happy Labh Pancham 🪔🎉✨ Happy learning with trading. Cheers!🥂
NSE:JUBLPHARMALong
by radha_23
2
🔥 Bitcoin BBW Indicator Predicting SQUEEZE! Be Prepared 🚨Bollinger Bands Width (BBW) indicator is derived from Bollinger Bands, a popular tool for technical analysis. It measures the distance between the upper and lower bands, indicating market volatility. A low BBW suggests low volatility and consolidation, while an increasing BBW indicates increased volatility and potential significant price movements. Bitcoin has been trading in a neutral pattern for nearly 7 weeks, making it unclear where the price will head next. However, the BBW indicator, currently at its tightest on record, signals an impending explosive move, with a higher likelihood of a bearish trend. Historically, once the BBW indicator reaches the Squeeze Area, it has been more likely for an explosive bullish trend to emerge. Although The last 3 times it has more often signaled an impending sell-off. Be prepared for an explosive move in the next 1-2 weeks.
CRYPTO:BTCUSD
by FieryTrading
38
BTC/USD and its crucial support and resistance areaLooking at this Daily BTC/USD Bitstamp chart from around Oct 2020 to 29th July 2023 (today) we can see a few obvious chart patterns that BTC is still in on this daily chart. 1) Ichimoku Y-Wave Pattern AKA a Broadening Wedge Pattern/Megaphone Pattern 2) Ascending Channel Pattern 3) Descending Channel Pattern 4) Rising Wedge Pattern We can clearly see the crucial range that BTC must break ABOVE and turn into strong support, which is around $28,709 to $32,360 as highlighted by the channel with horizontal dotted lines with yellow shading. This area has been both strong support and resistance quite a few times over the years. As a Strong Support range: Sat 2nd Jan 2021 to Mon 1st Feb 2021 Wed 19th May 2021 to Fri 23rd Jul 2021 As a Strong Resistance range: Mon 9th May 2022 to Sun 12th Jun 2022 Monday 20th Mar 2023 to Monday 8th May 2023 Mon 29th May 2023 (1day) Wednesday 21st Jun 2023 to 29th Just 2023 (as of typing this) Using @LuxAlgo Buyside & Sellside Liquidity indicator, we can see that BTC is slowly filling up its Liquidity Void from around $29,611 to its bottom at $27,051. As we can see from the history of the chart, quite a few of Liquidity Voids do end up getting filled back up even after a long period of year and a half. We can also see that a Buyside Liquidity line is located almost exactly on the top of our important support/resistance area. Using the Visible Range Volume Profile (VRVP) in its Delta mode, we can see what the Traded Volume difference was on each of the Volume Profile Bars for this entire charts visible range. Note that the Volume Area Up is Blue and Volume Area Down is Yellow. Here is a closer look at this 1 day chart. Note that BTC is still below its Bollinger Bands Middle Band Basis, the Lower Band is still pointing downwards and the Upper Band looks like it may curve downwards. I have added a Fixed Range Volume Profile (FRVP) indicator from Thur 15th Jun 2023 to Sat 29th July 2023 (as of typing this). The FRVP is also in its Delta mode and you can clearly see the Traded Volume differences for each Bar. Note that again the Volume Area Up is Blue and Volume Area Down is Yellow. Looking at the Chaikin Money Flow Indicator (CMF) we can see that the CMF Line is still in the Distribution Zone under its 0.00 Base Line and note that it is still Below its Least Squares Moving Average (LSMA) indicator. Note that the LSMA has curved upwards at the moment. Looking at the Relative Strength Index (RSI) we can see that momentum has dropped and the RSI Line is still below its 9 Period EMA line. Using the Bollinger Bands on the RSI we can see that the RSI now has little bit of room to move downwards and a lot of room to move upwards before becoming over extended/overbought/oversold. It really is good practice to be on the lookout for any Convergence and Divergence with the RSI and the Price. The key takeaway from this post, the Resistance Area from around $28,709 to $32,360 is very, very important! Note we also have a Buyside Liquidity Line located almost directly on $32,360. For the Upside: A successful Daily Candle CLOSE above the $32,360 level and any successful re-test as strong support will be a good sign of continued positive momentum to come. For the Downside: Failure to CLOSE a Daily Candle above the $32,360 level will be a good sign of continued sideways to eventual negative momentum. Anyway, i hope this post is helpful.
BITSTAMP:BTCUSD
by TradingThroughTheLens
VET/USD - My Longterm PlanVeChain update with my opinions and what i plan to do if my opinions are correct: Here is a closer look at the 1 day VET/USD chart: While VET did have a nice move up from $0.0152 to $0.032, that impetus is gone and VET is now making Lower Highs and Lower Lows. Notes: VET is still in its Descending Channel Pattern. VET is back in the Bearish Zone of the Ichimoku Cloud. VET is under both its 50MA and 200MA levels. The 50MA has crossed back under the 200MA on this 1 day timeframe. If we look at the volume for VET/USD, it’s been very low since around July 2021 and has not really recovered. On this chart, i have added various Support and Resistance Lines as well as Areas of Interest as highlighted with the Black Dotted Lines with Yellow Shading. If we look at the Chaikin Money Flow (CMF Indicator), we can see that the MF Line is still very near its 0.00 Base Line, a cross below the 0.00 Base Line will take VET into Distribution on this 1 day Timeframe. Note the the MF Line is still below its Least Squares Moving Average (LSMA) Line. My longterm Hodl plan for VET/USD: I still believe we will see $0.0096 to $0.0084 especially when the USA finally admits publicly that it is in a Recession, which when it does, will mean it’ll actually be in a Depression. So if this recession plan follows through then i will be looking to buy in around $0.0096 to $0.0084 and longterm hold until it reaches back to the ATH of around $0.28 and then re-asses the situation. A successful Daily Candle close below $0.0152 will be my first confirmation that we may see below $0.01. With the potential oncoming of this world depression, if the only way out for the US is to start WW3 to counter BRICS, the loss of the Petro Dollar, the loss of sanction power and the growing +$32T of debt then i believe we could see $0.0057 to $0.0043. When the oncoming recession/depression pivots and the new Bull-Run starts, after a while, keep an eye out for when the Mainstream Media starts broadcasting to the public about huge Crypto Gains! When this happens you’ll suddenly have random family and friends who now want to jump into crypto because it has gone up 1000s of %! This will be the time to consider taking profit on any long term hold as all the newbies jumping on the band wagon will be providing EXIT LIQUIDITY to those who got in at a really low price. Once this happens, then the market makers will change direction and become Bearish as Bulls and Bears are the same people I.E they are the Market Makers. I have seen this happen twice now with the Crypto market, once in 2017 and another in 2021. As always, we must keep an eye on what BTC/USD is doing. Anyway, this is all just my opinion and i have other strategies in place for if we don’t see sub $0.01 again. I hope this post is helpful.
BINANCE:VETUSD
by TradingThroughTheLens
7
NCR road to around 30The decline seen in the stock in April and early May was halted by the 30 level of the 14-day RSI (purple line) and better-than-expected news. Currently, it is on an upward trajectory, crossing the 50-day EMA (gray line) and retesting this level. This provides support for attempting to surpass the 200-day EMA (turquoise line) at around 25.5. The question is whether we can sustainably stay above it. In the first instance, the target price is $26, and if it successfully retests the 200-day moving average, it could strengthen up to $30 by the end of June. In the analysis, the yellow line represents the 20-day BB (Bollinger Bands).
NLong
by BostonTrendLab
3rd Pine Script Lesson: Open a command & send it to a Mizar BotWelcome back to our TradingView tutorial series! We have reached lesson number 3 where we will be learning how to open a command on TradingView and send it to a Mizar Bot. If you're new here and missed the first two lessons, we highly recommend starting there as they provide a solid foundation for understanding the concepts we'll be covering today. In the first lesson, you will be learning how to create a Bollinger Band indicator using Pine Script: In the second lesson, you will be guided through every step of coding the entry logic for your own Bollinger Band indicator using Pine Script: In this brief tutorial, we'll walk you through the process of utilizing your custom indicator, Mikilap, to determine the ideal timing for sending a standard JSON command to a Mizar DCA bot. By the end of this lesson, you'll have the ability to fine-tune your trading strategies directly on Mizar using indicators from TradingView. So, sit back, grab a cup of coffee (or tea), and let's get started! To establish a common starting point for everyone, please use the following code as a starting point. It incorporates the homework assignment from our Pine Script lesson number 2. By using this code as our foundation, we can collectively build upon it and delve into additional concepts together. So, sit back, grab a cup of coffee (or tea), and let's get started! // This source code is subject to the terms of the Mozilla Public License 2.0 at mozilla.org // Mizar Example Code - Lesson I - Coding an indicator // version 1.0 - April 2023 // Intellectual property © Mizar.com // Mizar-Killer-Long-Approach ("Mikilap") //@version=5 // Indicator script initiation indicator(title = "Mizar-Killer-Long-Approach", shorttitle = "Mikilap", overlay = true, max_labels_count = 300) // Coin Pair with PREFIX // Bitcoin / USDT on Binance as example / standard value on an 60 minutes = 1 hour timeframe string symbol_full = input.symbol(defval = "BINANCE:BTCUSDT", title = "Select Pair:", group = "General") string time_frame = input.string(defval = "60", title = "Timeframe:", tooltip = "Value in minutes, so 1 hour = 60", group = "General") int length = input.int(defval = 21, title = "BB Length:", group = "Bollinger Band Setting") src = input(defval = close, title="BB Source:", group = "Bollinger Band Setting") float mult = input.float(defval = 2.0, title="BB Standard-Deviation:", group = "Bollinger Band Setting") float lower_dev = input.float(defval = 0.1, title = "BB Lower Deviation in %:", group = "Bollinger Band Setting") / 100 int length_rsi = input.int(defval = 12, title = "RSI Length:", group = "RSI Setting") src_rsi = input(defval = low, title="RSI Source;", group = "RSI Setting") int rsi_min = input.int(defval = 25, title = "", inline = "RSI band", group = "RSI Setting") int rsi_max = input.int(defval = 45, title = " < min RSI max > ", inline = "RSI band", group = "RSI Setting") // Defintion of a Pine Script individual function to handle the Request and avoid Repainting Errors Function_Mikilap(simple string coinpair, simple string tf_to_use) => int function_result = 0 bool barstate_info = barstate.isconfirmed open_R, high_R, low_R, close_R = request.security(coinpair, tf_to_use, ) // Bollinger part of MIKILAP src_cp = switch src open => open_R high => high_R low => low_R => close_R lower_band_cp = ta.sma(src_cp, length) - (mult * ta.stdev(src_cp, length)) lower_band_cp_devup = lower_band_cp + lower_band_cp * lower_dev lower_band_cp_devdown = lower_band_cp - lower_band_cp * lower_dev bool bb_entry = close_R < lower_band_cp_devup and close_R > lower_band_cp_devdown and barstate_info // RSI part of MIKILAP src_sb = switch src_rsi open => open_R high => high_R low => low_R => close_R rsi_val = ta.rsi(src_sb, length_rsi) bool rsi_entry = rsi_min < rsi_val and rsi_max > rsi_val and barstate_info // Check if all criteria are met if bb_entry and rsi_entry function_result += 1 if function_result == 1 and ticker.standard(syminfo.tickerid) == coinpair label LE_arrow = label.new(x = bar_index, y = low_R, text = " 🢁 LE", yloc = yloc.belowbar, color = color.rgb(255,255,255,25), style = label.style_none, textcolor = color.white, tooltip = str.tostring(open_R)) function_result // Calling the Mikilap function to start the calculation int indi_value = Function_Mikilap(symbol_full, time_frame) color bg_color = indi_value ? color.rgb(180,180,180,75) : color.rgb(25, 25, 25, 100) bgcolor(bg_color) // Output on the chart // plotting a band around the lower bandwith of a Bollinger Band for the active CoinPair on the chart lower_bb = ta.sma(src, length) - (mult * ta.stdev(src, length)) lower_bb_devup = lower_bb + lower_bb * lower_dev lower_bb_devdown = lower_bb - lower_bb * lower_dev upper = plot(lower_bb_devup, "BB Dev UP", color=#faffaf) lower = plot(lower_bb_devdown, "BB Dev DOWN", color=#faffaf) fill(upper, lower, title = "BB Dev Background", color=color.rgb(245, 245, 80, 80)) Open a command to send to a Mizar Bot. Let‘s continue coding Our target: Use our own indicator: Mikilap, to define the timing to send a standard JSON command to a Mizar DCA bot. (1) define the JSON command in a string, with variables for - API key - BOT id - BASE asset (coin to trade) (2) send the JSON command at the beginning of a new bar (3) setup the TradingView alert to transport our JSON command via Webhook/API to the Mizar DCA bot Below you can see the code, which defines the individual strings to prepare the JSON command. In the following, we will explain line by line, what each individual string and command is used for. // Defintion of a Pine Script individual function to handle the Request and avoid Repainting Errors Function_Mikilap(simple string coinpair, simple string tf_to_use) => int function_result = 0 bool barstate_info = barstate.isconfirmed open_R, high_R, low_R, close_R = request.security(coinpair, tf_to_use, ) //Text-strings for alerts via API / Webhook string api_key = "top secret" // API key from MIZAR account string symbol_prefix = str.replace(symbol_full, "BINANCE:", "", 0) string symbol_name = str.replace(symbol_prefix, "USDT", "", 0) string bot_id = "0000" // BOT id from MIZAR DCA bot // String with JSON command as defined in format from MIZAR.COM // BOT id, API key and the BASE asset are taken from separate variables DCA bot identifier: string api_key = "top secret" string bot_id = "0000" These both strings contain the info about your account (BOT owner) and the unique id of your bot, which should receive the JSON command. BASE asset: string symbol_prefix = str.replace(symbol_full, "BINANCE:", "", 0) string symbol_name = str.replace(symbol_prefix, "USDT", "", 0) The shortcut of the base asset will be taken out of the complete string for the coin pair by cutting out the CEX identifier and the quote asset. JSON command for opening a position: Entry_message = '{ "bot_id": "' + bot_id + '", "action": "' + "open-position" + '", "base_asset": "' + symbol_name + '", "quote_asset": "' + "USDT" + '", "api_key": "' + api_key + '" }' If you want to have more info about all possible JSON commands for a DCA bot, please look into Mizar‘s docs: docs.mizar.com As the JSON syntax requires quotation marks (“) as part of the command, we define the string for the entry message with single quotations ('). So please ensure to open and close these quotations before or after each operator (=, +, …). Current status: - We have the entry logic and show every possible entry on the chart => label. - We have the JSON command ready in a combined string (Entry_message) including the BOT identifier (API key and BOT id) as well as the coin pair to buy. What is missing? - To send this message at the opening of a new bar as soon as the entry logic is true. As we know these moments already, because we are placing a label on the chart, we can use this condition for the label to send the message as well. alert(): built-in function - We recommend checking the syntax and parameters for alert() in the Pine Script Reference Manual. As we want to send only one opening command, we are using the alert.freq_once_per_bar. To prepare for more complex Pine Scripts, we have placed the alert() in a separate local scope of an if condition, which is not really needed in this script as of now. if bb_entry and rsi_entry function_result += 1 if function_result == 1 alert(Entry_message, alert.freq_once_per_bar) if function_result == 1 and ticker.standard(syminfo.tickerid) == coinpair label LE_arrow = label.new(x = bar_index, y = low_R, text = " 🢁 LE", yloc = yloc.belowbar, color = color.rgb(255,255,255,25), style = label.style_none, textcolor = color.white, tooltip = str.tostring(open_R)) IMPORTANT REMARK: Do not use this indicator for real trades! This example is for educational purposes only! Configuration of the TradingView alert: on the top right of the chart screen, you will find the clock, which represents the alert section a) click on the clock to open the alert section b) click on the „+“ to create a new alert c) set the condition to our indicator Mikilap and the menu will change its format (configuration of the TradingView alert) For our script nothing else is to do (you may change the expiration date and alert name), except to add the Webhook address in the Notification tab. Webhook URL: api.mizar.com Congratulations on finishing the third lesson on TradingView - we hope you found it informative and engaging! You are now able to code a well-working easy Pine Script indicator, which will send signals and opening commands to your Mizar DCA bot. We're committed to providing you with valuable insights and practical knowledge throughout this tutorial series. So, we'd love to hear from you! Please leave a comment below with your suggestions on what you'd like us to focus on in the next lesson. Thanks for joining us on this learning journey, and we're excited to continue exploring TradingView with you!
Education
by Mizar_trading
2
Choosing Your Channel: Bollinger, Donchian, or Keltner?When it comes to trading financial instruments, traders have a plethora of technical indicators to choose from. Among these, Bollinger Bands, Donchian Channels, and Keltner Channels stand out as popular tools for analyzing price movements and identifying potential trading opportunities. Each of these channels has its advantages and unique methods of application. This blog will compare these three channels and provide examples of how each can be used, helping you decide which one is right for you. I. Bollinger Bands Understanding Bollinger Bands Bollinger Bands, developed by John Bollinger in the 1980s, is a volatility-based indicator that measures the standard deviation of price movements. It consists of three lines: a simple moving average (SMA) and two bands that are typically set at two standard deviations above and below the SMA. The distance between the bands adjusts as volatility increases or decreases. Using Bollinger Bands Bollinger Bands are useful for identifying price movements and potential reversals. When the bands contract, it indicates low volatility, and when they expand, it signals high volatility. A common strategy is to look for a breakout or breakdown when the bands contract. Example: If a stock's price has been trading within a narrow range, and the Bollinger Bands contract, a trader might anticipate a breakout or breakdown. If the price breaks above the upper band, it could signal a bullish trend, while a break below the lower band suggests a bearish trend. This breakout should be confirmed with other indicators such as the MACD or RSI. II. Donchian Channels Understanding Donchian Channels Donchian Channels, developed by Richard Donchian in the 1960s, is a trend-following indicator that measures the highest high and lowest low over a set number of periods, typically 20 periods. It consists of three lines: the upper channel line, the lower channel line, and the middle line, which is the average of the upper and lower lines. Using Donchian Channels Donchian Channels are primarily used to identify potential breakouts and breakdowns. Traders often use the channels to assess the strength of a trend and determine entry and exit points. The Donchian cloud can be a great tool for establishing lines of support and resistance as the price makes higher highs and lower lows and conversely lower highs or lower lows. Example: If a stock's price is consistently hitting highs, a trader might use the Donchian Channels to identify a possible breakout. If the price breaks above the upper channel line, it could signal a continuation of the bullish trend. Conversely, if the price breaks below the lower channel line, it may indicate a potential trend reversal. I typically look for a secondary lower high or higher lower to confirm a reversal and then confirm the breakout with an oscillator as seen in the example below. III. Keltner Channels Understanding Keltner Channels Keltner Channels, developed by Chester Keltner in the 1960s and later modified by Linda Raschke, is a volatility-based indicator that uses the average true range (ATR) to measure price movements. It consists of three lines: an exponential moving average (EMA) and two bands set at a multiple of the ATR above and below the EMA. Using Keltner Channels Keltner Channels are effective for identifying potential trading opportunities during trending markets and can be used in conjunction with other indicators to confirm price movements. The Keltner Channel is a great tool for identifying overbought/ oversold conditions in a trend. This can help traders find better points of entry for a trade. Example: A trader might use Keltner Channels to identify potential pullbacks in a trending market. If the price moves above the upper channel line during an uptrend, it could signal an overbought condition, and the trader might wait for the price to pull back toward the EMA before entering a long position. Similarly, if the price falls below the lower channel line during a downtrend, it might indicate an oversold condition, and the trader could wait for a bounce back toward the EMA before entering a short position. The trader should also verify the bounce with other indicators as shown below. IV. BONUS: Keltner/Bollinger Bands Squeeze Strategy Channels do not have to be exclusively used on their own. The Keltner/Bollinger Bands Squeeze Strategy is a powerful technique that combines the strengths of both Keltner Channels and Bollinger Bands to identify potential trading opportunities. By understanding the nuances of this strategy, traders can significantly enhance their trading arsenal and make more informed decisions in the market. The Squeeze: A Sign of Consolidation and Potential Breakout s The Keltner/Bollinger Bands Squeeze occurs when the Bollinger Bands contract within the Keltner Channels, indicating a period of low volatility or consolidation in the market. This "squeeze" can serve as a precursor to significant price breakouts, either on the upside or downside. By closely monitoring this pattern, traders can identify periods of market consolidation and prepare to capitalize on potential breakouts. How to Implement the Keltner/Bollinger Bands Squeeze Strategy To implement this strategy, traders should follow these steps: Overlay the Keltner Channels and Bollinger Bands on your chart: Start by adding both Keltner Channels and Bollinger Bands to your preferred trading platform's chart. Ensure that the settings of both indicators are adjusted to your desired values. Identify the Squeeze: Look for periods when the Bollinger Bands contract within the Keltner Channels. This signifies a "squeeze" and acts as a sign that the market is experiencing low volatility or consolidation. Monitor for Breakouts: Keep a close eye on the price action during the squeeze. When the Bollinger Bands expand outside of the Keltner Channels, this indicates a potential breakout from the consolidation period. The direction of the breakout (upwards or downwards) will depend on the overall market trend and price action. Enter the Trade: The Keltner/Bollinger Bands Squeeze Strategy can be further enhanced by combining it with other technical indicators, such as the Relative Strength Index, or Moving Average Convergence Divergence. These complementary indicators can provide additional confirmation of potential breakouts and help traders better gauge market conditions. Once a breakout is confirmed, traders can enter a trade in the direction of the breakout. It's essential to use stop-loss orders and manage risk appropriately since false breakouts can also occur. Exit the Trade: Traders should establish a price target and exit strategy based on their analysis and risk tolerance. This can include setting a specific profit target, using trailing stops, or leveraging other technical indicators to determine when to exit the trade. Conclusion Bollinger Bands, Donchian Channels, and Keltner Channels are all valuable technical indicators for analyzing price movements and identifying potential trading opportunities. When deciding which one is right for you, consider your trading style, preferred timeframes, and the specific characteristics of the markets you trade. It's essential to familiarize yourself with each indicator and practice using them in combination with other tools to enhance your trading strategy. We have even shown that these channels can complement each other to form a more comprehensive strategy. Remember, no single indicator is perfect, and incorporating multiple tools can help you gain a more comprehensive understanding of market dynamics. Good luck and happy trading! If you enjoyed our content don’t forget to give this post a boost, and follow our page for more trading education!
Education
by LeafAlgo
27
$CVNA-Regular Divergence Indicates Potential Bearish OpportunityCarvana ( NYSE:CVNA ), the innovative online used car retailer, has recently shown signs of a regular bearish divergence on its chart, indicating a potential reversal in its current trend. With an identified entry, stop loss, and take profit points, we could be looking at a shorting opportunity here. Technical Indicators: The regular bearish divergence, circled in yellow on the chart, suggests a weakening in the current uptrend. This pattern is often a sign of a potential upcoming bearish phase, making it an opportunity for short sellers. Trade Setup: Here's a potential trading setup based on the current technical indicators: - Entry Price: 12.56 - Stop Loss: 13.70 - Take Profit 1: 10.77 - Take Profit 2: 9.13 This setup offers a good risk to reward ratio. The stop loss is set above the recent swing high, limiting potential losses if the price unexpectedly rises. The two take profit points allow for managing the trade more efficiently, taking some profit at the first target and letting the rest run if the price continues to move favorably. Options Play: For those interested in options, a Put option expiring on May 19th with a strike price of $10 could be a potential play. This would gain value if NYSE:CVNA stock price decreases, aligning with the bearish divergence. NYSE:CVNA current technical setup suggests a potential bearish opportunity. However, as always, it's essential to manage risk effectively and ensure the trade aligns with your overall trading strategy. *Note: This analysis is for informational purposes only. Always do your own research and consult with a professional advisor before making investment decisions.*
NYSE:CVNAShort
by TicksandWicks22
1st Pine Script Lesson: Coding an Indicator - Bollinger Band Welcome to this lesson on Trading View, where we will be learning how to create a Bollinger Band indicator using Pine Script. Bollinger Bands are a popular tool that helps measure an asset's volatility and identify potential trends in price movement. Essentially, the indicator consists of three lines: a middle line that's a simple moving average (SMA), and an upper and lower band that are two standard deviations away from the SMA. The upper band represents the overbought level, meaning the price of the asset is considered high and may be due for a correction. The lower band represents the oversold level, meaning the price is considered low and may be due for a rebound. Pine Script is a programming language specifically used for creating custom indicators and strategies on Trading View. It's a powerful tool that allows traders to customize their technical analysis to fit their special trading needs and gain deeper insights into the markets.. In this lesson, we'll be taking a hands-on approach to learning. We'll walk through each step of creating our own Bollinger Band indicator using Pine Script, with the goal of helping you gain confidence in your ability to customize and create indicators that meet your unique trading needs. So, grab a cup of coffee and let's get started! Step 1: Set up a new chart Let‘s set up a new clean chart to work with for this example. You will find the menu to manage your layouts on the top right of the TradingView screen. a) add a new layout b) rename it to „Mizar Example“ c) select BTCUSDT from Binance d) set the time frame to 1 hour e) clean the screen (closing the Volume indicator) f) save it Step 2: Coding an indicator Let‘s code our new indicator („Mizar-Killer-Long-Approach“)and make the possible entry moments visible on the chart. You will find the Pine Editor on the bottom left of the TradingView screen. a) open the Pine Editor b) use „Open“ in the Pine Editor menu bar c) use the item: create a new indicator d) let‘s use full screen for a better overview use the three dots on the right end of the Pine Editor menu bar and open the script in a separate new browser tab e) rename it to “Mikilap“ by clicking on the current name f) save it Step 3: Coding an indicator Let‘s start coding Our target: 1. create an own new indicator: Mikilap, which bases in general on RSI and Bollinger Band 2. define the parameter for Mikilap, to select the long entries 3. show the long entries on the chart by - putting a label below the bar - change the background color of the timeframe for the bar on the chart Initiation/Generals • Indicator initiation //Indicator script initiation indicator(title = "Mizar-Killer-Long-Approach", shorttitle = "Mikilap", overlay = true, max_labels_count = 300) indicator = Pine keyword for an indicator script title = Long form of the name short title = Short form of the name as shown on the chart overlay = true: output like labels, boxes, … are shown on the chart false: output like plots, … are shown in a separate pane • General variables and input // Coin Pair with PREFIX // Bitcoin / USDT on Binance as an example / standard value on an 60 minutes = 1-hour timeframe string symbol_full = input.symbol(defval = "BINANCE:BTCUSDT", title = "Select Pair:", group = "General") string time_frame = input.string(defval = "60", title = "Timeframe:", tooltip = "Value in minutes, so 1 hour = 60", group = "General") Using the input type of a variable allows you to change this setting in the setup on the chart without changing the Pine Script code. Framework Code on Main Level • Framework code on the main level around the indicator calculation function // Defintion of a Pine Script individual function to handle the Request and avoid Repainting Errors Function_Mikilap(simple string coinpair, simple string tf_to_use) => int function_result = 0 // placeholder for indicator calculations function_result // Calling the Milky Way function to start the calculation int indi_value = Function_Mikilap(symbol_full, time_frame) Output on the chart - Part 1 // Output on the chart // Part 1 - plotting a Bollinger Band for the active CoinPair on the chart int length = input.int(defval = 21, title = "BB Length:", group = "Bollinger Band Setting") src = input(defval = close, title="BB Source", group = "Bollinger Band Setting") float mult = input.float(defval = 2.0, title="BB Standard-Deviation", group = "Bollinger Band Setting") upper_band = ta.sma(src, length) + (mult * ta.stdev(src, length)) lower_band = ta.sma(src, length) - (mult * ta.stdev(src, length)) upper = plot(upper_band, "BB Upper", color=#faffaf) lower = plot(lower_band, "BB Lower", color=#faffaf) fill(upper, lower, title = "BB Background", color=color.rgb(245, 245, 80, 80)) Done for today! • Let‘s save our current script and take a look if we see our Bollinger Band plotted on the chart. • Step 1: Save (top right) • Step 2: check in the compiling section, that there are no errors (separate pane below the code) • Step 3: go to the Mizar Example chart and add an Indicator How does it look now? You will see the Bollinger Band as a yellow area around the candles. By pressing the „Settings“ button behind the name of our indicator, the menu for Mikilap will open and you can adjust all the settings we have done with input type variables. Congrats if you‘ve made it until here! Get prepared for the next lesson, where we will continue with the indicator/entry logic.
Education
by Mizar_trading
13
BTC/USD Monthly Chart - Volume POC AnalysisBTC/USD Volume Analysis - Bitstamp 1 month chart. BTC is still in a massive Ichimoku Y-Wave Pattern, which is like a western Broadening Wedge Pattern. BTC is also in a massive Ichimoku P-Wave Pattern, which is like a western Symmetrical Triangle or Pennant. BTC is also in a massive Rising Wedge Pattern. I have also added in various Support and Resistance lines on this chart as highlighted by the thin dotted straight white lines. Here is a closer look at this Bitstamp monthly chart: At the moment of typing this, BTC is still being hampered by its Key Resistance Area located with the dotted straight white lines with yellow shading. Note that on the month of 1st Feb 2023, BTC broke out of its Falling Wedge Pattern and successfully re-tested it as support, 1st on the month staring 1st Feb 2023 and 2nd on the month starting 1st Mar 2023. Looking at the Bollinger Bands we can see that the price is still under its Bollinger Bands Middle Band Basis 20 Period SMA on this month chart. Note that the Lower Band has started to curve back around straight. I have added a few FRVP (Fixed Range Volume Profile) indicators to every group of 3 one month candles on this visible chart, you can clearly see the various Points of Control (POC) for all those 3x one month candles which are indicated by the straight white line on each 3 month FRVP indicators. Looking at the month starting 1st Feb 2021, we can see that our Point of Control (POC) for those 3x one month candles is located at our UPPER Resistance/Support line of our Key Area of Resistance. If we look at the month starting 1st May 2022, we can see that our Point of Control (POC) for those 3x one month candles is located at out LOWER Resistance/Support line of our Key Area of Resistance. Looking at the Visible Range Volume Profile (VRVP), we can see where the Point of Control (POC) is for this charts Visible Range as highlighted by the Dashed straight white line. Looking at the Volume on this Bitstamp 1 month chart, we can see that this month’s Volume Bar ended above its 20 Period Moving Average. If we take a look at the Moving Average Convergence Divergence (MACD) we can see that the Red Histograms have consistently degreased in size since Sept 2022. The MACD Line (Blue Line) is indicating momentum is upwards and the MACD Line looks very likely to cross back ABOVE the Signal Line (Orange Line) on this monthly chart. If/when the MACD Line (Blue Line) crosses back above the Signal Line (Orange Line) it will create a new Green Histograms and a buy signal on this monthly chart for this indicator. When that happens it will be the first new Green Histogram since the month of 1st Dec 2021. Looking at the Up/Down Volume Indicator for this Bitstamp chart, we can see the difference between the buyers and sellers as indicated by the Delta Line in the Volume Bars. Note that this useful indicator takes into account the whole Candle Wick so the full Open and Close price and not just the Body of the Candle. If we take a look at the Average Directional Index (ADX DI) we can see that the Trend Strength hasn’t turned upwards yet with the ADX (Yellow Line) at 21.11 and note the DAX Line is still under its 9 Period EMA (White Line) which is at 26.34. Positive Momentum is sideways at the moment with the +DI (Green Line) at 22.05 and Negative Momentum is also sideways at the moment with the -DI (Red Line) at 19.06. A good sign to look out for on this indicator is when the ADX (Yellow Line) starts moving upwards and an eventually cross back ABOVE its 9 Period EMA (White Line) as well as an upwards trajectory for the +DI (Green Line) and a downwards trajectory for the -DI (Red Line) diverging apart form each other on this 1 month chart. As stated in my previous BTC post, the Price needs to successfully CLOSE ABOVE its Key Resistance Area and turn that area into Strong Support. So it seems there might be very interesting times ahead for BTC and the whole Crypto market, especially if we get a Buy Signal on the MACD Indicator if/when the MACD Line (Blue Line) crossing back ABOVE the Signal Line (Orange Line) on this 1 month chart. I hope this post is helpful.
BITSTAMP:BTCUSD
by TradingThroughTheLens
3
CHFJPY 200pips SHORT Idea CHFJPY is getting really weak, SUITE B already confirmed the INCOMING correction leg. #1 ENTRY (Risk Entry, Good Reward) -: Enter SHORT when CHFJPY reaches UPPER BAND #2 Entry (Confirmed Entry, Minimal Reward) -: Enter SHORT when CHFJPY breaks BELWO the BL after touching UB. (Not advisable on this current structure) INVALIDATION On #1 Entry, Set a 50pips SL from UB tap. On #2 Entry, when price rejects back BELOW BL , the SUITE INDICATORS will print a SL zone on the chart for you, use it. (OR 50pips) TARGETS Target is simple here, we are looking at TP around BL on H4 or PMthH on D1 P.S I will post money making trades like this everyday and everything you see on my chart is from the HOOD SUITE INDICATORS, everything you need is right in front on you inside the indicator. (The key zones, Levels for manipulation, visible SL for invalidation, Alert when trade setup is ready). No trend lines or complicated analysis, all you have to do is FOLLOW!
Short
by TheHOODofCRYPTO
CADJPY 200pips High Quality SetupCADJPY just hd a massive rally to the upside and soon will be CORRECTING which is why we are looking to enter SHORT at the peak around the PMthH (Previous Month High) #1 ENTRY (Risk Entry, Good Reward) -: Enter SHORT when price reaches PMthL #2 Entry (Confirmed Entry, Minimal Reward) -: Enter SHORT when CJ breaks BELWO the BL after touching PMthH. INVALIDATION On #1 Entry, Set a 50pips SL from PMthH tap. On #2 Entry, when price rejects back ABOVE BL , the SUITE INDICATORS will print a SL zone on the chart for you, use it. (OR 50pips) TARGETS If the SHORT trigger comes, we are looking to exit at the first EMA Cloud touch on D1. P.S I will post money making trades like this everyday and everything you see on my chart is from the HOOD SUITE INDICATORS, everything you need is right in front on you inside the indicator. (The key zones, Levels for manipulation, visible SL for invalidation, Alert when trade setup is ready). No trend lines or complicated analysis, all you have to do is FOLLOW!
Short
by TheHOODofCRYPTO
History Repeats Itself with LINK?I have two different trading channels highlighted on the chart. The first predates the post-corona bull market. The second shows a long period of consolidation on the Chainlink weekly chart. The first channel lasted for a year before LINK exploded to ATH over $50. The second channel marks a year in May 2023. Chainlink has completed a full market cycle and if this period of consolidation matches the last one, we'll see some explosive moves upward from Chainlink sometime in the next six weeks. This upward move should find resistance at the 200MA, but that will also come about 2x from the current price point. Enjoy, NFA.
BINANCE:LINKUSDLong
by ChartswithChip