- When I see a sell signal, I may short. When I see a buy signal, I may long. The signal is most relevant for the exact time it comes on the chart.
- The signal can show up and disappear on a running bar. To mitigate this issue, one should only use this on bar close. However, on bar close, the price may have moved significantly, and the signal may not be relevant anymore. So, it needs to be used with caution.
- It can be used on High Time Frame only. I use it for 4 hours and 1-day timeframe. My primary motivation for building this was two -
- 1) To ensure I am not addicted and not looking at the chart 24/7
- 2) To ensure I do not spend a lot of time & resources on multiple indicators
- I use it mostly on Bitcoin (BTC/USD, xbt/USD) charts.
- You may use this on any trending instruments (forex, options, alt-coins, shit-coins, etc.). Even though I have not tested a lot myself, I have been told it does work fantastic on others too
- have set up auto - signals to be sent, using this indicator, to the free Telegram Channel I run. Please check my twitter link to find the link of the telegram channel. Please subscribe and like.
- Reddish bar - TD Sequential overbought signals
- Greenish bar - TD Sequential oversold signals
- In a normal market, it is expected the price to try to reach the middle point or the Kijun or the median.
- You can find heaps of configurations and settings from the indicator settings panel.
- If you turn on the "COG & ATR Starc+/-" from the indicator settings, you will see several lines drawn on the chart. When price closes above-median STDEV, I look for StarC+ and then for BB+. When price closes below-median STDEV, I look for StarC- and then for BB-.
- If you turn on the "COG FIB" from the indicator settings, you will find several lines on the chart. If price closes above the middle point, then I look for R1 and then R2. At times, the price goes and hits R5 (but it is very rare). If the price closes below the middle point, then I look for S1 and then S2. At times, the price goes and hits S5 (but it is very rare).
- The lines for S1, S2, S3, S4, S5, R1, R2, R3, R4, R5 and middle point, median,BB+, BB-, STD Dev are dynamic.
- I look out for Tenkan bounces as well.
- The black cross marks are the squeeze. Once it appears, it can continue for a while. Once the squeeze is released, the price can move violently in either direction. Hence, these squeeze act as a caution.
- You can set alerts for several indicators - Strong / Signals, Leledec Exhaustion, Rahul Mohindar Oscillator, Kaufman AMA, Trend Magic, Flow indicator. You can set alert for overall buy and sell signals.
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It looks like there are a few major trades this strategy gets wrong, eg. November/December 2017 "short" (BLX daily timeframe) at $8K to BTC peak at $20K = 150% loss.
I.e. a liquidation event
It does look like this strategy has some great trades. So with some refinement, you might be able to get something profitable in the long-term. It may require removing a few of the indicators.
Taking break from trading this last few days.
My twitter account tells my trade live. Have a look.
The one you mentioned was the leldec. There is no way to make this 100% profitable.
My own backtesting shows 5x return in btc amount in 3years plus whatever btc has appreciated in value. It is profitable to me so far.
I don’t have the capacity to upgrade this to v4 nor I want to upgrade right now. With Proper Money Management, I am on with it. The main part in trading is proper money management.
Feel free to follow me on twitter yo see how I use this on live trade.
ALso, you will find custom fib . That can act as dynamic sl as stated on the description here.
The main idea is to use this indicator and enhance it for further changes in the future that I have in mind. I highly recommend to switch from version 6.0.0 to this indicator. Overall, it may not look much changes. However, going forward, I will be updating this one as the code is a bit cleaner with documentation as well a bit cleaner. Cheers. Did my indicator help you in any way?