Arrow represent trade setup
Circle represent triggering of the trade
1. Where to place stop loss?
2. Where to exit the trade?
3. How to protect gains in your trade?
4. How to apply money management rule?
5. How to trade gap opening?
Simple indicator implementing relative strength against the equally weighted basket of major currencies. Perhaps I will coin it the Equally Weighted Index (EWI) and trademark it like ICE did with DXY.
usd = (usdjpy/100 + usdcad + 1/gbpusd + 1/eurusd + usdchf + 1/audusd + 1/nzdusd)/7
DXY is hard to compare against other indices because of it's weightening....
I made this indicator to display the volume in BTC in the top left. I find it useful to quickly get the idea of how much BTC is being traded in each pair. It also showing the 7 candle moving average volume in BTC. This is configurable tho.
Please note, this is my first script, and after activating it you will get two annoying lines on your chart. You will have to...
Combined the RSI inverse of gold to USD with the Dollar index (or whatever stock symbol that may be inverted/complementary) with another asset/currency, like bitcoin, you can basically be well informed when a potential move is on the horizon. Settings allow for inverse settings and de-combining the two pairs as well as a nice cloud look if all the lines get annoying.
green is when the price drops below the 100 day MA
red is the intensity of the 14 day RSI
BUY @ green
SELL @ the second or third RSI spike
most importantly, keep in mind fundamentals :)
Modified version of ATR Pips
The indicator's value is a third of the daily range which is good to use as a stop loss value for intra day scalping on markets such as index futures and forex.
It's good for detecting and confirming inflection points in the market.
Compares BTC volume vs USD volume overtime
Best used on 4hr timeframe. Not really some crazy alpha but good overview/statistic to keep track of.
(make sure to use on XBTUSD pair since it isnt using security calls to call the data)
if price has moved up since 1 to 3 candles ago = buy
if price has moved down since 1 to 3 candles ago = sell
has internal SL & TP
4 hour charts