INVITE-ONLY SCRIPT
Bitcoin Indicator A
Updated
The Bitcoin Indicator was developed especially for high leverage Bitcoin trading. It comes in two parts; Bitcoin Indicator A/B. Indicator A paints the Trendline, Trend Cloud and the Signals. The signals come from 3 different built in strategies.
The strategies named as "Continuation", "Trend Check" and "Pump&Dump". Colors can be changed manually so you can easily make a difference between the strategies when a signal appears. All of them look for trend continuation entries in oversold/ bought areas. There are several criteria in each strategy. Once all of them meet the signal gets triggered.
In settings you can set "Sensitivity" and "Strength" for each strategy. "Sensitivity" affects to the oversold/ bought areas while "Strength" affects to other conditions. Playing around with the values will change the amount of the signals on the chart. The less with better accuracy the better. You have to set the signals to your current chart from time to time.
For example: If you want to trade the signals the first thing is changing "Sensitivity" & "Strength" as long as the signals are pretty accurate on the chart. This way you can assume the next few signals can be traded, too. Check the Trend Cloud if it's wide and shows a strong trend. If so, you can wait for the signal. Once it's appears check Bitcoin Indicator B as a last confirmation before your trade. You can read more about the usage of the Indicator B at it's description.
These are entry signals. For exit you can use support/ resistance levels, previous high/ low or signs of trend change by analising the Trend Cloud and Indicator B.
There are alert options for literally everything.
The Bitcoin Indicator can be used on any timeframe. Also there are several strategies you can apply. Above mentioned is only one of many. For the other strategies you can read the Bitcoin Indicator user guide once you got access. For more information please go to the website.
The strategies named as "Continuation", "Trend Check" and "Pump&Dump". Colors can be changed manually so you can easily make a difference between the strategies when a signal appears. All of them look for trend continuation entries in oversold/ bought areas. There are several criteria in each strategy. Once all of them meet the signal gets triggered.
In settings you can set "Sensitivity" and "Strength" for each strategy. "Sensitivity" affects to the oversold/ bought areas while "Strength" affects to other conditions. Playing around with the values will change the amount of the signals on the chart. The less with better accuracy the better. You have to set the signals to your current chart from time to time.
For example: If you want to trade the signals the first thing is changing "Sensitivity" & "Strength" as long as the signals are pretty accurate on the chart. This way you can assume the next few signals can be traded, too. Check the Trend Cloud if it's wide and shows a strong trend. If so, you can wait for the signal. Once it's appears check Bitcoin Indicator B as a last confirmation before your trade. You can read more about the usage of the Indicator B at it's description.
These are entry signals. For exit you can use support/ resistance levels, previous high/ low or signs of trend change by analising the Trend Cloud and Indicator B.
There are alert options for literally everything.
The Bitcoin Indicator can be used on any timeframe. Also there are several strategies you can apply. Above mentioned is only one of many. For the other strategies you can read the Bitcoin Indicator user guide once you got access. For more information please go to the website.
Release Notes
Style change with update. More criteria added to the Signals for the better accuracy.Release Notes
Trendcloud style change.Release Notes
New alerts added.Release Notes
Changing the values of the trend clouds for a more accurate support/ resistance zone.Release Notes
Previously there were 3 different strategies built-in which generated the Signals. It was confusing for most of our users so we cleared the whole concept. From now on "Indicator A" shows Signals based only on the main Bitcoin Indicator strategy. Traders are able to change values for the Signals to find the most accurate ones according to the current market situation, coin and timeframe. The Bitcoin Indicator strategy can be found on our website!Release Notes
Chart updated.Release Notes
This is the biggest update in the life of the Bitcoin Indicator. From now on there are fixed Signals only which appear at the bottom of the chart as white lines. There is no visible difference between Long and Short Signals as they can be identified easily by checking Indicator B and C. The Signals are not fixed entry points more like alerts to check the chart. They must be filtered according to The Bitcoin Indicator Strategy.There are also "Exit Alerts" built-in which will let you know when to consider to clsoe the position. These are not always the very best points to exit but in most of the cases they will alert you when the position runs in profit. Use them when you have a busy day and can't follow your trade.
Invite-only script
Access to this script is restricted to users authorized by the author and usually requires payment. You can add it to your favorites, but you will only be able to use it after requesting permission and obtaining it from its author. Contact bitcoinindicator for more information, or follow the author's instructions below.
TradingView does not suggest paying for a script and using it unless you 100% trust its author and understand how the script works. In many cases, you can find a good open-source alternative for free in our Community Scripts.
Author's instructions
″Visit the website for the strategy: http://www.bitcoinindicator.co
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Disclaimer
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