Simplest trick to trade crypto.
First thank you stranger …. few days back i saw a education chart on tradingview, at the time i read it a bit and ignored it.
Recently i have been back testing it and was blown away by the simplicity. There might be more accurate indicator but unlikely more simpler in my thought.
STEP 1 : So let's get right to it… first go to www.tradingview.com
STEP 2 : Type BTCUSD on the top ticker bar, you will get Bittrex but that doesnt matter. Click it !
STEP 3 : Click the Interactive chart button on the line chart shown. On the next page on the top side u will see a tab called Indicators.
STEP 4 : Click indicators and type EMA and click on exponential moving average twice !! and type weis wave volume and click on the option with 5960 likes.
After all that your screen should look like this
https://www.tradingview.com/x/oJhGR74L/
Click the setting option on EMA and change source for one EMA to open and other EMA let it be close.
Then change the color of one on the EMA open source as red and close as green. make the line a little thickness for easy viewing.
Now you will be able to see the patterns, to make its more clear i suggest changing the chart type to Hollow chart as shown below.
This is the final preview after all the steps.
The idea is simple, If green crosses red BUY. If red Cross green avoid buying.
Weis Volume indicator help to filter and refine false calls. prefer the calls were the indicator is green and ascending.
Also click setting Icon on the weis volume indicator and change the 2 value to 9–10 or 4 for short term. That worked good for me. 😇
As you can see the indicator gave 5 call which were decent upside found. 1 was false but can be controlled by stop loss.
The black arrow should the time markets fell and money could have been saved.
That all folk. try the indicator for different timeframe and different currency and stock. I suggest strictly top coin with good volumes only.
Finals words. STOP LOSS is mandatory !! , this is a indicator not a future predicting sign. Its can and will be wrong at times. Do paper trade and see the results for yourself. Lets me know how it went
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I am working on TradeplanIO, a simple crypto screener based on technical indicators. Follow us on twitter @tradeplanIO to know more, Regards.
