How accurate is the hash ribbon indicator? 93%
How accurate is the hash ribbon indicator? It boasts a 93% accuracy rate. This indicator has only flashed its BUY signal near the top of a bull market once. Even then, the price still rallied by 58% before the bear market began.
Note: We are using this indicator on the weekly timeframe, so there can be significant price volatility, including potential downside movement before the anticipated upside. There were instances when it flashed BUY, and the price rallied by 40% only to drop by 47% in 2011-2012. It also flashed BUY in 2019, and the price rose by 40% only to drop by 63%. However, these instances occurred during accumulation phases before the major bull run.
According to my thesis, the only significant error was when it flashed BUY close to the 2021 bull market top, where the price rallied by 58% before the bear market.
In essence, one could say it's 100% accurate because price always rallied powerfully after all the volatility so it's more like a guiding compass, a promise if you will, that lets us know there's gonna be a major bull phase after all these ups and downs.
Note: We are using this indicator on the weekly timeframe, so there can be significant price volatility, including potential downside movement before the anticipated upside. There were instances when it flashed BUY, and the price rallied by 40% only to drop by 47% in 2011-2012. It also flashed BUY in 2019, and the price rose by 40% only to drop by 63%. However, these instances occurred during accumulation phases before the major bull run.
According to my thesis, the only significant error was when it flashed BUY close to the 2021 bull market top, where the price rallied by 58% before the bear market.
In essence, one could say it's 100% accurate because price always rallied powerfully after all the volatility so it's more like a guiding compass, a promise if you will, that lets us know there's gonna be a major bull phase after all these ups and downs.
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