The Bitcoin Buy/Sell Indicator V5.1.2

All updates will be found here from now on as stated below or here at Trading View. If you are trading on Bitmex or ByBit, please feel free to open new account using the ref link so I can benefit and continue this work as well.

// Authors: Joy Bangla
// Twitter: https://twitter.com/Joy_Bangla_1979
// Source code located at https://bitbucket.org/long_live_prosper/......
// Bug tracking done through: https://bitbucket.org/long_live_prosper/......
// Contact author at : long_live_prosper.bitcoin@outlook.com
// Source code adapted from codes by Lazy Bear, Glax and other codes found by Googling
// Bitmex Ref link: https://www.bitmex.com/register/7A9Vd3
// Bybit Ref Link: https://www.bybit.com/app/register?ref=Z...

// I build these indicators for myself and provide them as it is to improve upon, as I believe the best way to learn is together.
// If, however, you value these contributions, feel free to leave a little something in the tip-jar for my next lunch ;-)
// BTC: 3BMEXPhCHD1QgBGiDmLAWnoyfrr1jwKnQo
// Better yet just open a new bitmex or bybit account using my ref link and trade normally. I will appreciate it very much.
// Please, add me on Twitter (@Joy_Bangla_1979)
// Please add your comments below of how you found the indicator.

// Description:
// If any of the underlying indicators ( Leledec Major, Parabolic SAR , Ichimoku , AKaufman AMA wave, Rahul Mondar Oscillator, or Volume Flow Indicator) turns bullish , then show Buy
// If any of the underlying indicators ( Leledec Major, Parabolic SAR , Ichimoku , AKaufman AMA wave, Rahul Mondar Oscillator, or Volume Flow Indicator) turns bearish , then show Buy
// If we have a buy sign on a bar, it will wait for a sell sign from the next bar.
// You may add alerts to each of the indicators and the combined Buy/Sell.

// TD Sequential is shown as coloured bars. Sell signals from this indicator is shown as red. The darker red colour the bar becomes the more overshoot sell signal it is giving. Buy signal from this indicator is shown with a green coloured bar. The darker green shade the bar becomes the more overshoot buy signal it is giving.
// The Kumo cloud of Ichimoku is always shown for reference purpose.
// Trend Magic and Custom COG not used in the calculation of buying and sell.

// Faq:
// Q: Does this indicator repaint?
// Answer: Most, if not all, indicators will repaint to some extent until the current bar is closed.
// On bar close, whatever it said will NOT repaint.
// During the bar, it is constantly getting live and making a decision. Hence, either Buy/Sell signal on currently running bar may show up and disappear.
// One way to get around it is to trade only on bar close. However, that means, one may lose the potential safer and good point of entry.
// I won't fix this unless someone can find a better solution.
// Q: What other potential issues are there?
// Answer: Check the bug tracking on the Bitbucket. Link: https://bitbucket.org/long_live_prosper/...
Release Notes: Added Dynamic Support / Resistance using fib Cog . This code adapted from Lazy Bear's code.
Also made the UI for the COG better.
Both can now be turned on from the settings. It is highly recommended to see the values on the sidebar (right as I do).
Release Notes: Adde minor fix
Release Notes:
  • Made some minor changes in several places.
    Took ESMA out of the calculation for now. I might need to do a test first on that. Looks amazing. Just need to check it better first
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I have costs involved in maintaining this indicator. So, I request u to open account using
* Bitmex Ref link: https://bitmex.com/register/7A9Vd3
* Bybit Ref Link: https://bybit.com/app/register?ref=Z046Q or
* tip me to 3BMEXPhCHD1QgBGiDmLAWnoyfrr1jwKnQo.

If u wish to offload any alt-coins, let me know ! I am happy to take any amount of any coins. Regards.
How do I use this tool?

1. The timeframes I use are 4 hours and one day only.

2. The black squeezes show on the chart when there is a higher probability of significant price change. The direction of the change is unknown. However, whenever I see the black crosses, I know it is time to put my stop losses near my heart. The black crosses can sustain for a while until the price change happen. Moreover, there is no guarantee that it will always happen.

3. I look at the dynamic s/r values and the ATR COG dynamic values as my overbought/overbought or resistance/support values. Moreover, I look at the BB COG values as extreme overbought/oversold values. It means if the price reaches the BB COG on a higher timeframe, I would be reluctant to keep larger size running in the same direction. I may even be getting ready to go in the opposite direction. It may not happen immediately. However, quite often, it happens soon after. Price seem to tend to go towards the Median value or the Middle point or the Kijun value whichever is nearby.

4. I DO NOT take all signals for my ow trade. If I am in a trade, I might even go into LTF to check how it is doing. However, the whole process depends on the moment.

5. My own testing has revealed that it is not 100% accurate. So, during extreme chop-chop, it might repeatedly give buy and sell signal. It is during those time that I close my trading and go into mini-vacation

6. I always put in very small position size. On a very high confidence level, at times, I might go in large. But, this tool was built with the thought in mind that there is a likelihood of losses.
+1 Reply
This is a lot of work put into this indicator! I am testing it in Deribit right now. If I have read your instructions correctly, the candle colors can act as a precursor to the indicators next posting of a buy sell signal? Also does this post that signal in real time during the candle painting? (I guess I'll figure it out as I go but we are in a pretty good uptrend at the moment ;_O)
+1 Reply
Welcome_Me bugotsanchez
@bugotsanchez, Thanks.
The candle colours all depend on TD Sequential. However, TD has overbought of different levels and oversold of different levels. So, the colours act as guidance to be cautious or be optimistic if one sees one.
The data is gathered in real-time. Hence, the signals on the bar are shown in real-time. It means, there is an issue of repainting. One can call it a bug. I call it catch 50/50. If the code is modified to only how signal on close or even if someone sets alert to be shown on bar close only, the repainting is no longer an issue. However, then by that time, the price may have changed substantially for the signal to be not valid. I suffer from this repainting issue as well.

I prefer to trade only on 4hour and 1 Day. However, a friend of mine has said 2h and 2day work as well. I have not tested on other instruments.
@ami_tired @Welcome_Me
Who is the real author??
Why are there 2 accounts, and scripts with similiar names?
You are confusing people.. =(
@enn36, Do not be confused. The final version as of today is this one
The author details etc are all documented in the source code that is also available on bitbucket https://bitbucket.org/long_live_prosper/indicators/src/master/combined_indicators.pine as well as in telegram channel https://t.co/eNuhb8MmfG?amp=1 and twitter link https://twitter.com/Joy_Bangla_1979
whenever there is any signal auto-generated from this indicator using higher timeframe it will show up on the telegram channel https://ift.tt/2HAOVCm. I personally do not execute all signal for live trading. Any updates etc will also be posted on Trading View. Feel free to leave a little something in the tip-jar for my next lunch ;-) BTC: 3BMEXPhCHD1QgBGiDmLAWnoyfrr1jwKnQo . Bitmex ref link: https://www.bitmex.com/register/7A9Vd3 . Bybit ref link: https://www.bybit.com/app/register?ref=Z046Q . Please add your comments below of how you found the indicator.
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