INVITE-ONLY SCRIPT
Bitcoin Indicator B
Updated
The Bitcoin Indicator was developed especially for high leverage Bitcoin trading. It comes in two parts; Bitcoin Indicator A/B. Indicator B shows the amount of money flow in & out the market in real time.
Indicator B must be used together with Indicator A. You can use it as the last confirmation after a trading signal on Indicator A. You can also look for divergence, trend continuation and trend dominance with it.
For example: There is a strong uptrend according to the Indicator A also a trend continuation signal appears. This case you won't jump into the trade immediately but check Indicator B. If there is a huge dominance on the positive side you can be pretty sure your trade will be profitable. If you rather look for trend reversal the best thing you can do is waiting for a divergence on the Bitcoin Indicator B and the price. If the Trend Cloud also shows weakness from Indicator A you can open your position.
Divergence usually comes with a new trend. So if you trade divergence you can use the Trend Cloud from Indicator A to identify trend weakness. When you see the weakness in the new trend there will be your exit point. If you do short-term trade you can also look for the top of the first hill on Indicator B right after the divergence.
There are 4 levels added to the indicator which are the grey lines. These will help you to identify the selling and buying power on the market. Also the lines can be changed manually and used for alerts.
The Bitcoin Indicator can be used on any timeframe. Also there are several strategies you can apply. For the other strategies you can read the Bitcoin Indicator user guide once you got access. For more information please go to the website.
Indicator B must be used together with Indicator A. You can use it as the last confirmation after a trading signal on Indicator A. You can also look for divergence, trend continuation and trend dominance with it.
For example: There is a strong uptrend according to the Indicator A also a trend continuation signal appears. This case you won't jump into the trade immediately but check Indicator B. If there is a huge dominance on the positive side you can be pretty sure your trade will be profitable. If you rather look for trend reversal the best thing you can do is waiting for a divergence on the Bitcoin Indicator B and the price. If the Trend Cloud also shows weakness from Indicator A you can open your position.
Divergence usually comes with a new trend. So if you trade divergence you can use the Trend Cloud from Indicator A to identify trend weakness. When you see the weakness in the new trend there will be your exit point. If you do short-term trade you can also look for the top of the first hill on Indicator B right after the divergence.
There are 4 levels added to the indicator which are the grey lines. These will help you to identify the selling and buying power on the market. Also the lines can be changed manually and used for alerts.
The Bitcoin Indicator can be used on any timeframe. Also there are several strategies you can apply. 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
This update comes with Divergence indications. The lines (with tiny dots) show both regular & hidden divergences. "Magic Dots" can be found on the top and bottom of the indicator which also show divergences on other oscillators. These oscillators are unvisible for the users because of the simplicity. You can find divergence strategies in the user guide which is available on the website.Release Notes
This is a huge update!First of all we added momentum waves to Bitcoin Indicator B which are very helpful. We also coded unique momentum divergence indications which values are set separately to each timeframe after a long backtesting. Previously added "Money flow divergences" are not removed but merged into "Magic Dots". Bullish money flow divergences displayed as "Bullish Magic Dots" at the bottom of the indicator (-100), while bearish divergences are displayed as "Bearish Magic Dots" at the top (100).
However "Magic Dots" are not only for "Money Flow Divergences. They appear only if other criterias also met on some hidden oscillators. This way we tried to filter only the most accurate divergences. New alerts are added for momentum, crosses, hidden/ regular divergences & magic dots.
For unique momentum, divergence and magic dot strategies please visit our website. For the best results use Indicator A/B together.
Release Notes
Style change with "Magic Dots" update. As mentioned before Magic Dots are divergence alerts which get triggered if all the hidden criteria meet. We added some more criteria for the better accuracy especially for the lower timeframe.Release Notes
Bug fixRelease Notes
Default values changed for Levels.Release Notes
New alerts added.Release Notes
Bug fix in "Bullish dot below zero line" alert. In some cases it didn't get triggered.Release Notes
Information & chart updated.Release Notes
This is the biggest update in the life of the Bitcoin Indicator. From now on Indicator B doesn't show microtrends but creates a big picture of the market by analizing multiple timeframes. There is also a new Money Flow line built-in which gathers data from multiple timeframes. This way Indicator B became the main part of the package, however all of the three parts must be used together for the successfull trades. You can find The Strategy on the website.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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