BottomFinder Signals & Profit Analysis XBTUSD last 60 days.BottomFinder just gave a strong bottom signal so I thought a great time to post this, since bitcoin is dumping. Many times this is psychologically the toughest trade to make. Bottomfinder can help you manage that fear at the bottom and conversely the greed at the top!
Here is a profit summary for following BottomFinder signals on XBTUSD 1 Hour timeframe for the last 60 days. 21 Trades and 3 losers.
The general strategy here is to enter upon the two type of bottom signals and exit upon any sell signal (weak, medium or strong).
As you can see I have highlighted the areas where false signals occurred, so you can see where they will sometimes crop up. We have implemented strict filtering, but to eliminate those false signals entirely negatively affects the overall profitability for the algorithm. Accuracy is overall around +/-85% depending on timeframe and coin/stock you are charting.
If you notice, I only calculate profit from the OPEN/CLOSE value. I am not including wick position in the profit calculation. So very likely in some instances you would have entered/exited the position in a better spot. See examples below
I prefer to be conservative when giving profit analysis though. Always better to over deliver in that department! :)
BottomFinder's long awaited update will be released in the coming weeks. Stay tuned for more updates about new features and how to use them!
