https://youtu.be/ItN3QDjNlCY
Bitcoin Strength Indicator for TradingView
The Bitcoin strength indicator for TradingView is a valuable tool for crypto traders. It ranks BTC against other assets or alts. This reveals relative performance quickly. Strong BTC signals dominance. Weak BTC hints at altcoin seasons.
The Cryptocurrency space may seem a little quiet at the moment, but this is not likely to remain so for long. To help traders navigate the many hundreds of cryptos available to trade, we have developed a strength indicator that allows the trader to configure the indicator with any available crypto. Currently, it is only available for Tradingview, where there are more than 200 coins to choose from.
In this video, David introduces the indicator and explains the concept behind the indicator in more detail.
How It Works with Volume Price Analysis
Combine the indicator with volume price analysis (VPA) for better insights. High volume on BTC upmoves confirms strength. Divergence warns of potential reversals. Quantum-style custom scripts on TradingView make this visual and...
In this video David & I explain how the CME Fed Watch Tool's probability that the FED would raise the FED Fund rate to 150-175 led to the latest market meltdown. We also looked at how using the Camarilla pivots in multiple time frames can help to determine our price objective.
https://youtu.be/CnFQezWG4zU
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In this morning's Forex webinar David & I covered a wide range of topics including the importance of understanding the principle drivers for currencies and currency pairs as well as how to spot and use the simple two candle reversal pattern with vpa and the Quantum indicators.
https://youtu.be/5TR9AK3d5Xo...
https://www.youtube.com/watch?v=8Tyeoues53s
Configure the Cryptocurrency Strength Indicator to Your Preferred Crypto
The Cryptocurrency Strength Indicator is a versatile tool for relational crypto trading. It ranks cryptocurrencies by performance. This helps spot leaders and laggards. Configuring it to your preferred crypto focuses the view for better insights.
Our Cryptocurrency strength indicator has been designed to allow traders to swap out cryptos for those they wish to trade, assuming it is supported by the platform which in this case is Tradingview. David explains in this recording how this is done.
Step-by-Step Configuration
Start by selecting your preferred crypto as the base (e.g., Bitcoin for benchmark). The indicator then compares others relative to it. Adjust settings for timeframes—daily for trends, lower for intraday. Volume price analysis (VPA) integration shows conviction behind moves.
Benefits of Customisation
Focusing on one preferred crypto simplifies analysis. For example, base on Bitcoin to gauge altcoin weakness. Quantum's version on TradingView or NinjaTrader includes alerts for extremes. Anna Coulling's approach uses this for high-probability relational trades.
Configure today...
