Get started

Luxalgo

Gold short term bearish, Long term bullish, right now - NeutralI can see some short term bearishness in SAXO:XAUUSD for the next few weeks. A breakdown of the support @ 1910/1900 could result in a test of MAJOR SUPPORT @ 1830. This leaves us between a nice range of strong support and resistance. Could easily end up playing out as a H&S or a Cup & Handle. We would need to see Risk on Assets come down again to rebreak through what would then be string resistance around 1910. Boom, @theRaggy
TVC:GOLD
by theRaggy
Momentum Shifting for BTCFinally, the cross we have all been waiting for. A bullish cross on the daily MACD for Bitcoin . This could mark the bottom and see us breaking this downward sloping channel to the up side? First Target is the 52K area. I hope so, BUT: My Liquidation prices are still below the 40k mark as we could easily breakdown to this area: Lux ECO indicating a move down below 40K mark in the next 16 hours (4 hourly chart). Lux Momentum still showing downside pressure BB bands are constricting on the 4 hour so a move in either direction is imminent. My bias at the moment is to the down side , which sucks... But, I have orders ready at 40k to pick up some BTC on on a Xmas special. In Summary: Next 3 days: Bearish - Target 40/41K Next week Neutral - bias to downside - Target 40-45K 4 weeks or more: Bullish!!!! - Target 68/70K On-chain - Massively Bullish! 1 min -> 1 day TV Technicals = Strong Sell 1 Week TV Technicals = Sell 1 Month TV Technicals = BUY!!! Boom, @theRaggy
BITSTAMP:BTCUSDLong
by theRaggy
2
HOW-TO: Automatic Pattern Detection in TradingViewChart patterns are a part of the foundation of technical analysis and are one of the most popular methodologies used by traders to predict future price variations. Chart patterns are governed by precise identification guidelines and it is important to effectively recognize the presence of a specific pattern. Since this recognition process can be subjective, we designed a robust and efficient algorithm for the detection of traditional chart patterns, saving users valuable time. In this post, we describe how to effectively use the Automatic Pattern Detection inside our main toolkit, Lux Algo Premium . Using The Pattern Detection Feature The Automatic Pattern Detection can be enabled within the Lux Algo Premium toolkit directly from SR Mode. When enabled, a new cell on the dashboard will appear showing the current detected pattern. When no patterns are detected the dashboard will indicate the absence of a pattern and dashed lines will be displayed that can be used as support and resistance. The Pattern Detection feature at the time of this publication can detect the most commonly traded chart patterns, including: Rising/Falling Wedges Ascending/Descending/Symmetrical Triangles Head And Shoulders Inverse Head And Shoulders Double Tops/Bottom Note that the Pattern Detection algorithm depends on the current SR significance selected. Higher SR significance aims to return longer-term pattern structures. Examples Below are some examples of detected chart patterns using the Automatic Pattern Detection. Rising Wedge Falling Wedge Ascending Triangle Descending Triangle Symmetrical Triangle Head & Shoulders Inverted Head & Shoulders Double Top Double Bottom Tips Once you have noticed a promising detected pattern, it is important to look at various other factors to gain confidence on its validity, as well as having a good plan in order to trade it. You can see if an ongoing pattern requires your attention by looking at indicators or possible patterns on lower/higher timeframes and checking if this information lines up with the ongoing pattern as well. Certain patterns require certain volume trends in order to asses their validity. Some require down-trending volume, others require up-trending volume, and some require significant volume during a breakout. It is possible to set take profits and stop losses when trading chart patterns using measure rules. Measure rules have been described by Bulkowski for several patterns. We have an ongoing series about classical and more exotic patterns that you can read in order to understand them at a deeper level with education on identification rules, measure rule, and causes:
BITSTAMP:BTCUSDEducation
by LuxAlgo
41
EUR/USD down trend reversal.A three inside up candlestick formation was completed on August 23rd, on the daily chart, signaling a possible reversal. Later on September first after some nice upward movement, again on the daily chart, the Lux Algo flashed a strong buy signal. A day later on the second a somewhat contradictory signal flashed, the completion of a sell setup on the TD sequential. If we have in fact started a new uptrend I believe this sell signal from the TD sequential will only lead to a small correction. The correction seems likely since the formation of an evening star pattern is currently in the works, though we will still need to wait and see where the August 6th candle closes.
Long
by biscuitbuns23