The Relative Strength Index (RSI) is a well versed momentum based oscillator which is used to measure the speed (velocity) as well as the change (magnitude) of directional price movements. Essentially the RSI, when graphed, provides a visual mean to monitor both the current, as well as historical, strength and weakness of a particular market. The strength or weakness is based on closing prices over the duration of a specified trading period creating a reliable metric of price and momentum changes. Given the popularity of cash settled instruments (stock indexes) and leveraged financial products (the entire field of derivatives); RSI has proven to be a viable indicator of price movements.
I think BTC has hit its short term top and we still need to see one final dump to reset the weighted average RSI indicator (takes into account RSI values from multiple time frames from 1 minute to 1 day) before we bounce to the 5k area. I don't have a downside target, but will update once the RSI has entered oversold territory.
Ethereum remains under pressure on Friday, as the third largest cryptocurrency by market capitalization struggles to attract short-term buying interest. The Relative Strength and Momentum indicators on the four-hour time frame are currently neutral, suggesting further price consolidation ahead. Overall, a clear break from the $110.00 to $126.00 levels is needed to ...
What's coin on guys?
Same as ETH, NEO is facing downtrend resistance on a higher time frames. Resistance is also visible on RSI from 28.4.2018. On a smaller time frame like 1h, RSI is showing bearish divergence. I think correction in this area is very likely to happen any moment now, even if NEO decide to break trough this resistance, I think we will see some ...
The RSI can be a great trading tool if used properly. Most Traders use it for an overbought/oversold indicator and that is the worst use of the RSI.
As you can see from the chart, there are multiple short term trade setup in this one hourly chart. Although I am only showing 3 examples there are many more setups on this chart but did not want to make a mess ...
Dear Friends!
1-5 Elliott Waves Up after we got my reversal at exactly 3,224 USD (on the point - kinda lucky ) - We have Regular Bearish Divergence, which confirms a retracement. Expect something like what I have illustrated for you. Just be aware of, that we don't yet have any confirmation on what corrective structure we will get - it could be ABC ZIG-ZAG, ABC ...
This simple algorithm uses Exponential Moving Averages of the S&P 500's Relative Strength Index to trigger buy/sell and short/cover signals on a daily chart. I've backtested the algorithm for SPY (1994-present), SPX (1981-present), SPX500 (1971-present), and it beats the S&P 500 in every occasion. The algorithm cannot correctly time every single crash or ...
This is a strategy that is based around using the general value of the RSI to determine the trend and then using the Stoch RSI to pick and entry point.
It also uses the RSI to determine a profit taking point or exit point from the trade.
This version doesn't have a stop loss other than the signal to trade the opposing direction. Therefore it is more effective in ...
The script is great for the trade for 30 minutes TF. based on the popular Godmode Indicator. In combination with some filter, it gives an entry point with an error of up to 3%. Can be used for scalp for 3,5,10 min.
Good news, it seems that BTC shows some signs of life after the last two weeks.
Several things point towards 3450 on bitstamp having been the local low for now.
It surely is a weird price that I didn't see coming, I thought that 4200 would act as strong support, but it went through that historical support line like butter.
That confirms by belief that lines ...
TRX has seen some massive gains on the news of the new bittorrent blockchain.
I do think we could see some further upside along with BTC climbing a bit but i do not think it will be to much of a surge and i will be adding to my short position then.
RSI Divergence is just too strong to ignore.
My gameplan is:
Open short: 650 sats
Targets set according to Fib ...
The neckline of an inverted head and shoulders is being examined as resistance, and all eyes will be on internal trend momentum to see if the price can breakout to the upside to continue wave 3 of the new motive wave to the upside.
The ADX measures the strength of trend momentum and the indicator is turning to the upside inside a trend strength building zone ...
These are some of the indicators from my two packages available on TradingView appstore.
This chart has S/R levels, derived from an oscillator, overlaid on price action for easy identification of clusters and turning points. It also marks bars (up / down triangles above/below) with reducing momentum to show potential upcoming bounce levels. This S/R level is ...
Step One: Find the currency pair that is showing a high the last 50 candlesticks. (OR low depending on the trade)
The 80-20 Trading strategy can be used for any period or any market.
This is because there are reversals of trends in every period. This can be a swing trade, day trade, or a scalping trade. As long as it follows the rules, it is a valid trade. We also ...
We still have hope to bounce and break nick line of head and shoulders If BTC hold support on RSI and Stoch RSI , If we break this support Further selloff will happen !
For confirmation daily RSI needs to stay below 50.
ATR right now equates to about 3%. Stop is a little tight for that. Something to keep in mind and reflect on later.
Shorting one of the names that has held up well is probably not the best choice for capital allocation however.
Im sure some sort of cipher or bat pattern could better pick a target.
So dusting off the old charts here.
My Script is for entry predictions.
After the H1 candles called a short twice i went down to the M30 which put in a shooting star . So i took my loses and went long 2 micros. This is the first time I've traded since early to mid summer.
Went down to the M15 and got a buy signal.
Went down to the M5 for closer monitoring. ...
Internal trend momentum is switching to the bulls as the Average Directional Index (ADX) starts to flatten out and turn around inside a strength building zone on the oscillator. Also, the green positive directional index line has crossed up through the red negative directional index line and is back turning higher to start the week. This is a bull signal for ...
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