With so little data, it's extremely difficult to monitor new coins from a TA perspective. Being in a bear market increases this difficulty.
Here's a few ways I use to really dissect a new coin's patterns and look for entry points into the coin.
Note: this is just one of my trading techniques, please backtest and never copy my trades or anyone else's without donin your own research.
Here's a few ways I use to really dissect a new coin's patterns and look for entry points into the coin.
Note: this is just one of my trading techniques, please backtest and never copy my trades or anyone else's without donin your own research.
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Tip 1
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By using colored arrows as trend lines we can see quickly
how the market is reacting, and just at a glance see
the length of each wave/momentum. This saves us time
and allows us to understand waves/patterns with ease.
how the market is reacting, and just at a glance see
the length of each wave/momentum. This saves us time
and allows us to understand waves/patterns with ease.
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Tip 2
Using Stoch and by drawing on horizontal lines in intervals
of 15 we can follow 1 hr trend chart fairly accurately.
In the example below we have
8 correct signals and 2 false signals.
Using Stoch and by drawing on horizontal lines in intervals
of 15 we can follow 1 hr trend chart fairly accurately.
In the example below we have
8 correct signals and 2 false signals.
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Tip 3
Anytime the blue K line crosses over a horizontal line,
we take the direction of the K line as a signal.
Anytime the blue K line crosses over a horizontal line,
we take the direction of the K line as a signal.
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Just at a glance of this chart you can clearly see the red downtrend lines are longer than the green uptrend lines. Showing that at present the bears have more momentum than the bulls.
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However if you look at the very last two trend lines. You can see that the green up trendline is longer than the red downward trendline. Could this be a signal?? perhaps but if you take a quick glance at the stoch, you'll see it currently sits at over 49, so it probably indicates that the downtrend line has not finished yet.
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Just made a custom Stoch Indicator that fits with the above strategy, feel free to edit share if you like it.
to add this to tradingview just click "pine editor" at the bottom of the page -> New -> Blank indicator script -> Copy and paste the code below-> click save as -> name it what you like -> then finally click "add to chart", click pine editor again to close the window and you're done.
to add this to tradingview just click "pine editor" at the bottom of the page -> New -> Blank indicator script -> Copy and paste the code below-> click save as -> name it what you like -> then finally click "add to chart", click pine editor again to close the window and you're done.
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//@version=3
study(title="Stoch Crypto Challenge", shorttitle="Stoch Challenge")
length = input(14, minval=1), smoothK = input(1, minval=1), smoothD = input(3, minval=1)
k = sma(stoch(close, high, low, length), smoothK)
d = sma(k, smoothD)
plot(k, color=blue)
plot(d, color=orange)
h8 = hline(90)
h7 = hline(75)
h6 = hline(60)
h5 = hline(45)
h4 = hline(30)
h3 = hline(15)
h2 = hline(0)
fill(h4, h6, color=purple, transp=80)
study(title="Stoch Crypto Challenge", shorttitle="Stoch Challenge")
length = input(14, minval=1), smoothK = input(1, minval=1), smoothD = input(3, minval=1)
k = sma(stoch(close, high, low, length), smoothK)
d = sma(k, smoothD)
plot(k, color=blue)
plot(d, color=orange)
h8 = hline(90)
h7 = hline(75)
h6 = hline(60)
h5 = hline(45)
h4 = hline(30)
h3 = hline(15)
h2 = hline(0)
fill(h4, h6, color=purple, transp=80)
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Once you upload the Stoch indicator, I would suggest clicking on settings.
Make the 30 Level green
Make the 60 Level Red
Make all levels a solid line
Increase the width of the line on all levels so it's 1 scale thicker.
Make the 30 Level green
Make the 60 Level Red
Make all levels a solid line
Increase the width of the line on all levels so it's 1 scale thicker.
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NCASH should drop a bit now
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drop will be to around 3841.
Will check the chart then to see if we can move back up.
Will check the chart then to see if we can move back up.
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Ncash is ignoring everything right now :) it's on a run.
Make sure to set a stop loss
Make sure to set a stop loss
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Strong Support/Resistance
The price is above a strong support zone right now (in red)
Above price is some resistance, albeit it not super strong
If we look at the stoch, we have dropped back down to the middle and currently moving sideways.
This is not a good time to buy, if we stay in this sideways channel we only have 4.38% room to move, it's better to wait and see if we break up or down this channel first.
The price is above a strong support zone right now (in red)
Above price is some resistance, albeit it not super strong
If we look at the stoch, we have dropped back down to the middle and currently moving sideways.
This is not a good time to buy, if we stay in this sideways channel we only have 4.38% room to move, it's better to wait and see if we break up or down this channel first.
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Black middle line is 45
Bottom green line is 30
Next black green line is 15
Bottom black line is 5