Check if the current market has a Bear tendency or a Bull tendency.
Bear areas are marked as red squares going down from 0. Bull areas are marked as green squares going up from 0.
Buying/Selling windows of opportunity
On top of the Bear/Bull squares, this indicator tries to show you the windows where to look for good buying/selling opportunities.
These are marked as full columns:
Blue columns represent a window to look out for good buying opportunities
Pink columns represent a window to look out for good selling opportunities
How is this possible?
This is an indicator of a simple idea to check if the market has a Bear or Bull tendency:
1. Start with a virtual portfolio of 60/40 tokens per fiat. 2. Rebalance it when its ratio oscillates by a given % (first input) 3. Count the number of times the rebalancer buys, and sells 4. When the number of buys is greater than the number of sells => the market is going down 5. When the number of sells is greater than the number of buys => the market is going up
This is shown as the "Bear/Bull Strength" squares (red when bear, green when bull)
An extra rebalancer is also kept that works at each bar (regardless of the input %). This is used to calculate an amount of tokens beying sold/bought and used as a "market force" coefficient.
Another extra: based on both the bear/bull strengh and market force an attempt is made to provide good buying/selling windows of analysis. The blue background is a buying opportunity, the red background is a sell opportunity. In a bear market sales are delayed, and in a bull market buys are delayed.
Release Notes
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Added a small comment to the code with a link to find the the public libraries that it uses
Release Notes
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Propagate the window of opportunity with the candle close