This video shows how you can replace your volume indicator with Ultimate Volume or Accumulation/Distribution Volume Indicators. (I personally use all my indicators in a separate pane)
It's been a long time since my last TA. As you might know, I've been working on indicators during last couple of months. There are many indicator skeptics among you which is very understandable as most of the indicators have varying degrees of flaws. I have fixed some of these flaws (like True RSI and Ultimate Money Flow) and I will publish my other major fixes in a year or two after I quit trading. For now, you can enjoy the published ones. .
Currently, I am working on a bot algo combining UMACD, UMF, Supply/Demand Absorption, MASAR, divergence and some other indicators. Setting trading options at 100% of equity on 1h Bitstamp:BTCUSD, I could get 200k% profits with UMACD alone during my backtests with a specific configuration. I could achieve 400k% profits on a slightly advanced version of UMACD. Stay tuned for my final bot algo :)
I'm not sure this method is possible anymore, You can certainly pin it to the main chart but it's having problems with the scale margin on the top and bottom. Started a few days ago
OYLFLMH
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First of all, thank you. I have added your indicator, but I don't quite understand the meaning of the indicator.
cI8DH
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@OYLFLMH, the diamonds show that market is resisting the trend. so it is very likely that trend will reverse or pause for a while (going sideways). examples here
OYLFLMH
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@cI8DH, Thank you, I see. But what do you mean by blue and yellow on that line? Is the time index based on 60 minutes?
cI8DH
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@OYLFLMH, yes. the default settings are optimized for Bitifnex:BTCUSD 1h. yellow line means low volume period and blue is high volume period. u can stop trading during low volume periods.