Search in ideas for "oscillator"
Bitcoin @ Stochastic RSI 0.99 on a 10-day chartStatistics / stochastic processes fascinate me and the above statistic is worthy of some attention.
In case you’re not familiar with Stochastic RSI, it is a ‘oscillator’ (circled in green) of the RSI oscillator. You read that correctly, an oscillator of an oscillator. Therefore it naturally lags the RSI measurement.
The Stochastic RSI oscillator is there to do one thing, measure momentum. The range of measured momentum is between 0 and 100. Typically anything > 80 is overbought and anything <20 is oversold.
Read the title again. Currently Stochastic RSI on the above 10-day chart is sitting on 0.99, which is equal to a fire sale.
Has Stochastic RSI been here before? Yes.
Looking left - the only two other times in **all** of Bitcoin’s history Stochastic RSI was this low was back in 2013 during the months of July and the following April. The length of each condition was 60 and 50 days respectively.
Now look again at the top chart, over sold for 50 days @ 0.99.
I’m not suggesting we’re going to see the types of return we saw in the past, but what I will suggest is something explosive is about to happen to price action. How do I know? Look left ;)
Ignore the FeAr!
WW
GOlD - Bullish Divergence on the DPOXAUUSD is gearing up for a breakout due to possible bullish divergence forming on the detrended price oscillator.
Set alert on the dpo for when it crosses 0 threshold.
And then average in 4-5 entries over the next couple of hours.
Excellent entry point because stop loss can be set very tight to entry
Always set stop loss.
The detrended price oscillator is a free to use indicator in Tradingview's "Built-in" section.
My Latest and Greatest Scalping ChartThis chart utilizes 2 indicators. The Directional Movement Index indicator and a custom Volume Oscillator.
After thousands of hours of trial and error, I've found that the DMI (directional movement index) is one of the best indicators to use.
However, volume is a vital indicator, yet it lacks the ability to know if bullish volume or bearish volume is in control with standard volume indicators. My volume indicator tracks both bullish volume and bearish volume so you can see which one is in the lead position.
When you combine the two indicators, it paints a much more interesting picture.
Yet a problem still remains. As with any single indicator, you only have 1 input to direct you. I like to view multiple fibonacci moving averages to help me find a "consensus". This consensus helps me gauge aggressive and conservative fibonacci lookback periods.
The point is that combining these 2 indicators (DMI, and Volume Oscillator) along with different fib levels, helps you paint a better picture of the health of a market.
It's up to you to decide what the consensus of data means. Realizing that you are getting a consensus of data rather than 1 point of data is the "secret sauce"
Hope this helps some of my followers
This chart is shareable. So it should give you access to the indicators - I hope.
Cheers and enjoy the scalping
