Similar to "Bitcoin: Confidence Bands", this script is designed to show regions of positive and negative overextension for Ethereum , where price is expected to either reverse long-term or at least shorter-term, using custom price loops tuned for the Ethereum case. Again, the idea is that one can be highly confident that Ethereum's price stays within the Confidence Bands, especially when looking at weekly closes. It might be wise to reduce exposure to Ethereum when price gets very near to the red band, and vice versa for an approach of the blue band. Of course this constitutes no financial advice, and one should always consider all available information for making trading decisions.
This indicator should only be used:
- with the default inputs (but of course feel free to play around a bit for testing purposes)
- on the weekly (W) time frame
- and for the following ticker setup, used to get well averaged Ethereum price data (ideally just copy this and paste it into the ticker field in the upper left area of the chart interface): (KRAKEN:ETHUSD+COINBASE:ETHUSD+BITFINEX:ETHUSD+POLONIEX:ETHUSD)/4
Otherwise the intended functionality cannot be guaranteed.
For access please contact me via DM on TradingView or on Twitter (linked on my TradingView profile and in my signature).
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 Dean_Trader for more information, or follow the author's instructions below.
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Warning: please read before requesting access.