Release 2.1 Final!
Bottom Finder is an automated cryptocurrency signals and analysis tool which uses a complex algorithm involving multiple indicators, trends, and cross-overs including proprietary formulas developed in-house to predict the bottom price of cryptocurrencies. It also works well on stocks, gold, oil and forex!
Is Price Action Higher or Lower on STRONG or WEAK VOLUME from lookback
(Strong or Weak Bulls // Strong or Weak Bears)
Candles / Bars Indicate the Following (default 13 period lookback / Length)
MAROON Bear Candle with STRONG VOLUME more than 150% of the lookback / length (13 default), STRONG Bear Candle Confirmed With Volume
RED Bear Candle while VOLUME is...
Measures buying and selling pressure over a given lookback period.
As described at traders.com
See also:
- Are price updates a good proxy for actual traded volume in FX?
- Using Tick Volume in Forex: A Clear NVO Based Example
This just colors the candlesticks by the amount of volume that's been traded inside.
Every candle starts out green and the more volume it contains it goes over yellow and orange to red.
Developed and tested on the main BTC exchanges but should work on forex too.
idea take from Alexander Elder, author of: The New Trading for a Living: Psychology, Discipline, Trading Tools and Systems, Risk Control, Trade Management
Meaning of colouring:
- Green bar Volume: If we look back certain numbers of volume bars, higher close price and higher volume.
- Blue bar Volume: If we look back certain numbers of volume bars, higher close...
