Skyrex developed a complex indicator based on dollar-cost averaging in Quick Fingers Luc's interpretation. It is a combinations of strategies which allows to systematically accumulate assets by investing scaled amounts of money at defined market cycle global support levels. Dollar-cost averaging can reduce the overall impact of price volatility and lower the average cost per asset thus even during market slumps only a small bounce is required to reach take profit.
The indicator script monitors a chart price action and identifies bases as they form. When bases are reached the script provides entry alerts. During price action development an asset value can go lower and in this way the script will perform safety entries alerts at each subsequent accumulation levels. When weighted average entry price reaches target profit the script will perform a take profit action alert.
Bases are identified as pivot lows in a fractal pattern and validated by an adjustable decrease/rise percentage to ensure significancy of identified bases. To qualify a pivot low, the indicator will perform the following validation:
- Validate the price rate of change on drops and bounces is above a given threshold amount.
- Validate the volume at the low pivot point is above the volume moving average (using a given length).
- Validate the volume amount is a given factor of magnitude above is above the volume moving average.
- Validate the potential new base is not too close to the previous range by using a given price percent difference threshold amount.
- A bearish turning point occurs when there is a pattern with the highest high in the middle and two lower highs on each side.
- A bullish turning point occurs when there is a pattern with the lowest low in the middle and two higher lows on each side.
The indicator supports traditional and cryptocurrency spot, futures, options and marginal trading exchanges. It works accurately with BTC, USD, USDT, ETH and BNB quote currencies. Best to use with 1H timeframe charts and limit orders. The indicator can be and should be configured for each particular asset according to its global support and resistance levels and price action cycles. You can modify levels and risk management settings to receive better performance
Advantages of this indicator:
- The indicator has custom alert settings for each strategy action
- The indicator can be used with 3Commas, Cryptohopper, Alertatron or Zignaly bots
- The indicator is sustainable to market slumps and can be used for long-term trading
- The indicator provides a large number of entries which is good for diversification
- Can be applied to any market and quote currency
- Easy to configure user interface settings
How to use?
1. Apply indicator to a trading pair your are interested in using 1H timeframe chart
2. Configure the indicator: change layer values, order size multiple and take profit/stop loss values according to current market cycle stage
3. Set up a TradingView custom alert using the indicator settings to trigger on a condition you are interested in
4. The indicator will send alerts when to enter and when to exit positions which can be applied to your portfolio using external trading platforms
5. Update settings once market conditions are changed using backtests on a monthly period
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Access to this script is restricted to users authorized by the author and usually requires payment. You can add it to your favorites, but you will only be able to use it after requesting permission and obtaining it from its author. Contact Skyrex for more information, or follow the author's instructions below.
TradingView does not suggest paying for a script and using it unless you 100% trust its author and understand how the script works. In many cases you can find a good open-source alternative for free in our Community Scripts.
If you want to have access to the script you should contact us in personal message or send an email to firstname.lastname@example.org
Warning: please read before requesting access.