theheirophant

BottomFinder Signals & Profit Analysis XBTUSD last 60 days.

BITMEX:XBTUSD   Bitcoin / US Dollar Perpetual Inverse Swap Contract
BottomFinder just gave a strong bottom signal so I thought a great time to post this, since bitcoin is dumping. Many times this is psychologically the toughest trade to make. Bottomfinder can help you manage that fear at the bottom and conversely the greed at the top!

Here is a profit summary for following BottomFinder signals on XBTUSD 1 Hour timeframe for the last 60 days. 21 Trades and 3 losers.

The general strategy here is to enter upon the two type of bottom signals and exit upon any sell signal (weak, medium or strong).

As you can see I have highlighted the areas where false signals occurred, so you can see where they will sometimes crop up. We have implemented strict filtering, but to eliminate those false signals entirely negatively affects the overall profitability for the algorithm. Accuracy is overall around +/-85% depending on timeframe and coin/stock you are charting.

If you notice, I only calculate profit from the OPEN/CLOSE value. I am not including wick position in the profit calculation. So very likely in some instances you would have entered/exited the position in a better spot. See examples below
I prefer to be conservative when giving profit analysis though. Always better to over deliver in that department! :)

BottomFinder's long awaited update will be released in the coming weeks. Stay tuned for more updates about new features and how to use them!
Comment: Long awaited BottomFinder update to version 2.7 to be released in the upcoming weeks!

&#9989 Can check multiple time frames for secondary confirmation.
&#9989 Improved filtration of false/early signals
&#9989 "Charting" Version which displays signal on the candle chart instead of separate indicator
&#9989 More user customization options for greater flexibility on different timeframes/markets. For example forex 1 minute chart versus gold daily chart - both can attain better results by customization from default values.
&#9989 "Automated Trading Mode" - Signals are modified and cleaned further for use by automated systems such as Gunbot, Haasbot, 3commas, or Autoview. Here no medium/weak bottom signals will be given, nor any weak top signals. This strategy proves more profitable for a bot. (Though please note its usually less profitable compared to manually trading - its tailored specifically for automated trading.)
Comment: 1. Can check multiple time frames for secondary confirmation.
2. Improved filtration of false/early signals
3. "Charting" Version which displays signal on the candle chart instead of separate indicator
4. More user customization options for greater flexibility on different timeframes/markets. For example forex 1 minute chart versus gold daily chart - both can attain better results by customization from default values.
5. "Automated Trading Mode" - Signals are modified and cleaned further for use by automated systems such as Gunbot, Haasbot, 3commas, or Autoview. Here no medium/weak bottom signals will be given, nor any weak top signals. This strategy proves more profitable for a bot. (Though please note its usually less profitable compared to manually trading - its tailored specifically for automated trading.)
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