NOT TRADING ADVICE: So I decided to mess around with a few indicators to see how easy it would be to scalp small price movements Using Thunder cloud Suite and Over Bought/Sold indicators. This works on pretty much any Time Frame, but is generally intended for shorter time frames like 1, 5, 15 minute. Obviously the more volume (money) you have the more beneficial. The yellow change of direction on the OB/S indicator is NOT a trigger you should use because if you apply it to a chart and look there are "fake outs" in price action that can send it back down (or up), despite the yellow COD indicator. Similarly, Buy/Sell indicators are perilous for the same reason. That's why I paired the Indicator with Thunder Cloud Suite, to determine Average crossovers, that better dictate a change of direction helping the user to buy/sell more efficiently and not lose or miss out on gains.
ADDITIONALLY: Learning candles is HUGELY (Bigly heh) beneficial to this method, as Candle patterns indicate price direction (generally). Wicks, dojis, Hammers, Hangman, Gravestones, etc. etc. If you follow the buy/sell indicators back through the chart take note of which Candle(s) or patterns of candles appear before a jump or drop. You'll be delightfully surprised that these candles become predictable, and that using clouds and other indicators can give you buy signals "before" the buy signal on the indicator.
Not using Ichi style indicators would make this doable, but less accurate (imo). A potential addition would be to add a Volume indicator to see if the focus stock/coin was gaining volume for a jump or dump. Anywhoooo, Hope this helps people who aren't trying to write their own scripts use some of the provided scripts to have fun while we wait for #BTC to do whatever it's going to do.
Haha yea regrettably theres is nothing else better to do in this market. Crypto winter in the summer. Things will most likely go bad pretty soon. Be careful, safe trading.
PatternTrader0807
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@Tud888, Might be a good option for shorting too ;)