Using only these two indicators, we have isolated a quick and easy way to identify trends in Bitcoin. Sometimes, the price moves too far and too fast for this method. But as highlighted red boxes show, many developing trends are easily identified and easily entered. Still a work in progress but works very well thus far. Using it for primarily Bitcoin but seems to work well with everything. Can be used for quick in/out trades as well. Plus, there is also an effective way to use this setup to find good exits, but with a smaller time frame.
Hello i can't find Modified MACD you might give the script page address
Fool4Crypto
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@tvnn090, I just make my own changes on the settings.
Forks
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Want to explain how to use your indicator?
Fool4Crypto
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@Forks, Of course.
1) Find resistance/support on daily + weekly chart.
2) Identify trendlines on 2 hour chart.
3) Note position of candlestick in relation to top indicator (Williams Alligator) (also on 2 hour chart)
4) Note position of blue dot on lower indicator (Modified MACD).
5) We like to look for blue dot stagnation around +/- 5. When dot changes direction, based on position of blue dot over/under red stepline within =/- 5 range, look for entry/pullback on 15 minute chart.
6) We use fibonacci +161.8 level based on pullback before current trend. This is amazingly accurate for finding target to exit. Usually will get you out of trade BEFORE the pack. Keeps you from being greedy.
Hope this helps. It's simple but we've been using this same basic method for years. Much less stressful than how we used to trade!!