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Craig_Claussen
Jun 2, 2021 9:48 AM

BTCUSD 4H - DMI and DPO Analysis Long

Bitcoin / United States DollarCoinbase

Description

The detrended price oscillator is excellent for seeking out where divergence is building.
The directional movement index is excellent for seeking out potential new trends at the very start
I'm bullish on this chart setup.
But the market can always go both ways.
Use the support trend line to set an alert. If crossunder then stop loss
Or you can set a stop loss alert on the directional movement index indicator with a bearish crossover alert.
This chart is shareable and color blind friendly

Comment

Trail stop reached.
Elon Musk tweet strikes again
Comments
JoelRBishop
great idea, thanks
JoelRBishop
I'm not sure that I see the bull divergence on the DPO. The bottom of the triangle is rising and the indicator is rising too, isn't it?
JoelRBishop
@JoelRBishop, I guess it would be divergence on the first couple of candles
Craig_Claussen
@JoelRBishop, Sorry i should have used line chart to remove the wicks to better see the divergence
JoelRBishop
@Craig_Claussen, I see. thanks again
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