BEAM Indicator From Scratch
Hi, traders!
BTC today makes many people nervous, especially freshmen. That's why we decided to tell you about one of the easiest to use indicators - BEAM.
BEAM helps identifying times when buying and selling Bitcoin are the most probable to be profitable. It’s extremely easy to interpret and understand its signals. In general, BEAM divides the price of Bitcoin at any given moment to a moving average of past prices. This makes price trends more clearly visible.
The BEAM parameters are easy to tune. You can adjust the cycle length, the asset divisor as well as buy and sell thresholds.
There are three types of zones. A green buy zone indicates that it would be wise to buy. A red sell zone makes clear that selling might be a good idea. A gray hold zone signals that it is advisable to keep on holding even if the price already seems rather high.
BEAM works with other crypto currencies that are at least 3-4 years old, because they are highly correlated with Bitcoin itself and follow Bitcoin’s cycle.
The BEAM indicator is not meant to be used to make buy or sell decisions on its own. It should be used as one tool among many in a big arsenal of indicators and other types of signals. BEAM has no absolute predicting power. There is no 100% guarantee that it will still work in future. Indicators and models can only be constructed retroactive. As the future is not fixed, they always fail to work after some time.
DISCLAMER: Information is provided only for educational purposes. Do your own study before taking any actions or decisions.
BTC today makes many people nervous, especially freshmen. That's why we decided to tell you about one of the easiest to use indicators - BEAM.
BEAM helps identifying times when buying and selling Bitcoin are the most probable to be profitable. It’s extremely easy to interpret and understand its signals. In general, BEAM divides the price of Bitcoin at any given moment to a moving average of past prices. This makes price trends more clearly visible.
The BEAM parameters are easy to tune. You can adjust the cycle length, the asset divisor as well as buy and sell thresholds.
There are three types of zones. A green buy zone indicates that it would be wise to buy. A red sell zone makes clear that selling might be a good idea. A gray hold zone signals that it is advisable to keep on holding even if the price already seems rather high.
BEAM works with other crypto currencies that are at least 3-4 years old, because they are highly correlated with Bitcoin itself and follow Bitcoin’s cycle.
The BEAM indicator is not meant to be used to make buy or sell decisions on its own. It should be used as one tool among many in a big arsenal of indicators and other types of signals. BEAM has no absolute predicting power. There is no 100% guarantee that it will still work in future. Indicators and models can only be constructed retroactive. As the future is not fixed, they always fail to work after some time.
DISCLAMER: Information is provided only for educational purposes. Do your own study before taking any actions or decisions.
Get access to private PineScript strategies and turn script alerts into orders at your exchange account with easy-to-set up bots
Get free alert bot:
skyrexio.com
Get free alert bot:
skyrexio.com
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.