Study
Study Notes: The Rising Wedge PatternStudy notes on the Babypips trading course
Based on this article: www.babypips.com
Example is EUR/CAD, when uptrend stopped and trend shifted into a brief downtrend.
The rising wedge is either a REVERSAL or a CONTINUATION pattern
Bad news in an uptrend, indicates a reversal is on the cards. In a downtrend, more of the same.
Study Notes: Momentum IndicatorsStudy notes based on Babypips course:
www.babypips.com
Momentum Indicators aka Lagging Indicators
- More accurate in representing changes in trend
- However, lags behind the trend shift, reducing profit margins
- Less prone to false signals / fakeouts so less risky
Delayed entry but higher accuracy. They can still provide some fakeouts especially when price has lowered volatility, or is somewhat rangebound.
Examples: MA's, MACD
spreadeagle71 stuff to check...Some scripts and surely more to find by:
www.tradingview.com
I Modified the Crypto Strength Index script to more current top volume or high value old top volume coins
And very interesting fib method :
Fibonacci levels can become powerful ways to find almost EXACT support and resistance levels and also time your trades. I have used them to predict turning points in markets on short time periods but they also are predictive in larger time frames.
How to Align Fibonacci Levels:
A very good and objective way to draw your Fibonacci levels is to use Gann Boxes, Transient Zones and the Temporal Extreme Spitter. All of these indicators are in the Public Library.
First start with the Temporal Extreme Splitter (TES) by Richard Santos. The extreme splitter will give you exact high and low places to place your gann boxes.
The Gann Boxes provide fibonacci in two dimensions- price and time. You can align the box ends with the TES. However, I have found one of the best ways is to align the Gann boxes is to set the 50% level on a long/strong TES line.
Next when you align the extremes up with either the center or one or both of the ends of TES lines; then you are ready to start aligning the Fib levels for time.
There is no exact science for doing this but a good way to do it is to try to match the highs and lows using Transient Zones. Transient Zones themselves give highs and lows and are also great places to align the boxes.
However, since TZ's can occur more often than the TES lines (if you use default settings), its good to align them with the Fibonacci time levels of the Gann box .
When watching your entry and exit points, it is also useful to include the concept of Divergence into them for even higher probability trades.
One of the best ways to see divergence is to use a stochastics oscillator. The 14,3,1 default setting is fine. There are also some other ones in the Public Library. I am really into fibonacci, so I will sometimes use a stochastic 55 or 21.
To see divergence, look at the highs and lows on the price chart and compare them to the highs and lows of the stochastic oscillator. If you do this correctly, you can sometimes see where the market is slowing down and turning.
The key word here is slowing down.
Divergence can be used as a confirmatory signal or a way to get out of a trade when it starts to go the other direction.
Good Luck in Your Trading
- Spread Eagle 71
+1BTC@6390 - 18.10.06@6699 - PL: +309$(+4.8%)"In art he, Thoth, was often depicted as a man with the head of an ibis bird"
999ug
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README
Inside:
- No Repaint
- No Lookahead
- Thoth Strategy v.18.04.23 - Backtesting version
- Thoth Study v.18.04.23 - Alarms version
- Thoth Utils - Normalized Oscillators
- Thoth Utils - MAs - feat. @Rachel_T
Access:
In order to praise Thoth name across the universe and as a token of appreciation via an e-prayer;
>> Price is currently at 30 Likes per month ok ? =)
1. Press "Follow".
2. Checkout 30 historical posts and press "Agree".
3. In the comments section below write: "I accept Thoth".
If you followed the steps above, you should be granted access.
Hints:
-- Toolset might be useful for users who can't add more than 3 indicators per chart.
-- Refer to historical posts for example setups.
-- Preferred settings for v.18.04.23 -> 1D HA 5, 0.025, 1000 ticks slippage.
-- Scripts are not for sale or export outside TV
-- NO Youtube, NO Twitter, NO Telegram!
9/30You need to be smoking some good sh1t to make head or tails of this chart!
And we all know its gonna open Monday, no where near where it closed!!
Thoth Script - BTC:4H:18.08.28 - Open P/L: 7.05% - NO REPAINT!Position:
- Still long from 18.08.16 @6270$
- Divergence starting to form on lower timeframes
Script Uses:
1. Ichimoku Cloud
2. John E. Zero Lag EMA
3. Hilbert Sine Wave Support/Resistance
4. Linear Regression Divergence of price vs
-- ROC
-- RSI
-- ZL-MACD
Inside
-- No Repaint!
-- No Lookahead (lookahead_off)
-- Date Selectors
-- Alarms version
Parameters:
1. ROC Triggering Threshold:
--- Triggering rate of change value in %
----- Low for lower timeframes, less volatile tokens
----- High for higher timeframes, more volatile tokens
2. Divergence Lookback:
-- Number of candles to lookback for oscillators vs price divergence.
Access:
-- Leave a comment with your username.
-- 24h trial access activated.
Hints:
-- Use Heikin Ashi
-- Add slippage
-- Refer to backtesting links attached to script post below for example setups.
-- Script is not for sale or export outside TV.
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" In art he, Thoth , was often depicted as a man with the head of an ibis bird "
Made with 999ug.
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Trade History:
18.08.28
18.08.25
18.08.20
18.08.16
Thoth Strategy - BTC:30M:18.08.20 - LongStill Long from previous position
---------------------------------
Script Uses:
1. Ichimoku Cloud
2. John E. Zero Lag EMA
3. Hilbert Sine Wave Support/Resistance
4. Linear Regression Divergence of price vs
-- ROC
-- RSI
-- ZL-MACD
Parameters :
1. ROC Triggering Threshold :
--- Triggering rate of change value in %
----- Low for lower timeframes, less volatile tokens
----- High for higher timeframes, more volatile tokens
2. Divergence Lookback
-- Number of candles to lookback for oscillators vs price divergence.
Notes :
-- Use Heikin Ashi
-- Add slippage
-- Refer to backtesting links attached to script post below for example setups.
Access:
- Leave a comment with your username
- 24h Free Trial Activated
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"In art he, Thoth, was often depicted as a man with the head of an ibis bird"
Made In Qmt with 999ug.
DJI - 08/25Summer's nearly over in the Northern Hemisphere, all the big boys are heading back, maybe the volume picks up a little?
