Like clockwork, on the day of its selling climax, Pegasystems (PEGA) retraced all the way down to the Fibonacci Bollinger Band (FBB) plotline and then found major support exactly at this level.
@spy_master I tried to find this FBB indicator but I'm not having any luck. I was also trying to find the rsi bars and shm ema theme indicators. Thank you for posting your ideas and the simplicity with your approach.
SpyMasterTrades
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@murse_money, First, I see the word "Murse" in your handle. Are you a male nurse? Just curious! Second, great questions! Search for the indicator: "Fibonacci Bollinger Bands" by Rashad. I always use this indicator, along with several others before opening a position. Third, what I've done here is I hid all of the values below the basis because doing that allows me to log-adjust the chart. I also changed the colors of the bands to various shades of red and green to better visualize overbought (red) from oversold (green - which are not visible in this chart because of log adjustment). Fourth, In my experience, I have found the white line (the basis) as a strong support level on every time frame. Why is this the case? The white line represent a full mean reversion for the time frame. Let me know if you have any other questions!
murse_money
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@spy_master, lol I was until pot stocks allowed me to retire at 38. I think you're the only person that caught on to that. Thank you for the indicators and letting me know how to modify them.
SpyMasterTrades
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@murse_money I caught on because I was a murse for 5 years too. Hard work! I fortuitously left my clinical job in January 2020, right before the pandemic arrived.
murse_money
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@spy_master, That's lucky. I was called back to work at a COVID assessment center for a couple of months because my license was still active. That was a wild experience. Trading stocks is much better. I use capitalise.ai and a multi-EMA strategy that works pretty well. These indicators should help spot the tops and bottoms to switch back and forth between TQQQ and SQQQ.
SpyMasterTrades
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@murse_money, Yes they definitely help with swing trading. Going to have to look into capitalise.ai for sure. Slip some pointers about that into my DM if you can. I have always avoided algorithmic trading simply because of the barriers of coding, yet I know it's superior.
SpyMasterTrades
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@murse_money, Regarding the two other indicators, search for "RSI Candles" by Glaz (for the RSI bars) and "Stochastic Heat Map" by Violent (for the SHM EMA Theme). These indicators help me spot reversals.