The Ace Pro XBTUSD Bitcoin 7 Minute Long Indicator Lambo Moon Edition calculates overbought and oversold conditions to help traders who are scalping in bullish market conditions.
It focuses on momentum to identify whether the market is overbought or oversold.
If it detects that the market is oversold, it gives an alert of “Long entry”
If it detects that the market is overbought, it gives an alert of “Long exit”
Users are also able to set notifications on Tradingview with this version of the indicator and be notified on their phone, computer, or email whenever the indicator fires an alert of "Long entry" or Long exit".
To set an alert, after adding the indicator, at the top left of the chart where the indicator is listed, click on the "more" option (three dots), and then select "Add alert."
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Improvements for this indicator:
It is designed for traders who are high-speed lower time frame scalper, and who specifically use the seven minute chart. This indicator is specifically for bullish market conditions.
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Please note the following:
This indicator is only to be used on the 7 minute Bitmex XBTUSD chart
It is only to be used for opening and closing long positions.
It is not recommended for use with short positions.
It is not recommended for use with time frames other than the 7 minute.
It is not recommended for use with charts other than the 7 minute XBTUSD Bitmex chart
In a sideways market, or during a violent move, it is likely to produce false signals.
Traders must use confluence from their technical analysis to enter trades.
The stop loss line on this indicator is designed with a 1.5% stop loss.
It focuses on momentum to identify whether the market is overbought or oversold.
If it detects that the market is oversold, it gives an alert of “Long entry”
If it detects that the market is overbought, it gives an alert of “Long exit”
Users are also able to set notifications on Tradingview with this version of the indicator and be notified on their phone, computer, or email whenever the indicator fires an alert of "Long entry" or Long exit".
To set an alert, after adding the indicator, at the top left of the chart where the indicator is listed, click on the "more" option (three dots), and then select "Add alert."
-----------------------------------------------------------------------------------------------------------------------------------
Improvements for this indicator:
It is designed for traders who are high-speed lower time frame scalper, and who specifically use the seven minute chart. This indicator is specifically for bullish market conditions.
-----------------------------------------------------------------------------------------------------------------------------------
Please note the following:
This indicator is only to be used on the 7 minute Bitmex XBTUSD chart
It is only to be used for opening and closing long positions.
It is not recommended for use with short positions.
It is not recommended for use with time frames other than the 7 minute.
It is not recommended for use with charts other than the 7 minute XBTUSD Bitmex chart
In a sideways market, or during a violent move, it is likely to produce false signals.
Traders must use confluence from their technical analysis to enter trades.
The stop loss line on this indicator is designed with a 1.5% stop loss.
Release Notes:
Version 2.0 has been modified to take into account sideways consolidation as in the current market structure and factors this in its calculation of the lag in between shifts of momentum.
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