coinobsalgos

Phantom

A script that finds potential tops and bottoms.
Release Notes: Phatom Script V1 Release

This is a "counter-trend script" built to take advantage of non-linear trading ranges and heavy chop zones.


Phantom Script is forward-thinking, and will project the next possible reversal zone (PRZ) well head of the move.

This script can be utilized for :

Hedging
Swing trading
Scalping


Most reliable time frames are the 60-30-and 15

Green line indicates hidden support levels
Purple line Hidden resistance levels.


When price comes in contact with our PRZ "Potential Reversal Zone"
It is wise to take up a hedge position.


----------------Impulse Rejection----------------------

Bullish Impulse

WEAK SELL SIGNAL: If Price is closing above Purple Phantom PRZ during bullish impulse, then likely a bullish impulse continuation is to take place.

STRONG SELL SIGNAL: If Price is failing to close above Purple Phantom PRZ Line after a bullish impulse, then look to hedge the short, or to take up a short position.


Bearish Impulse:

WEAK BUY SIGNAL: If Price is closing below Green Phantom PRZ line, after a bearish impulse, then maintain short position.
STRONG BUY SIGNAL: Once Price starts closing above Green Phantom PRZ line, look to hedge a long against a short, take profit the short, or net long the asset.

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Signal Invalidation


Close and continuation above Purple PRZ would invalidate short signal
Close and continuation below Green PRZ would invalidate the long signal

If the same above PRZ is rung once again, then that was likely a stop hunt.
Another close above, and signal should be retaken.


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Licensing:


V1 Early-Bird Monthly licensing fee: $50
One can sing up for the script here:
https://coin-observatory.chargifypay.com...

Script support is done via our Discord Server:
https://discord.gg/UWae5pk

For more information visit us at:
http://www.coinobservatory.com
Release Notes:
Release Notes: For Lifetime Script Access, Please contact us on Discord.
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V2 UPDATE:
-New Release version includes midlines for SR flip

Bullish impulse moves closing above the midlines on larger time frames, 1hr+ are sustainable.
Hence a net long position is preferred.

Bearish impulse moves closing below the midlines on larger time frames are sustainable, and hence a net short position is preferred.


Rejection at Midlines, during a bullish impulse, is bearish:
-Entering a short position or profit-taking current long is advised.
-A net-long trader not wanting to profit take their long can hedge an equal sized short there.


Rejection at Midlines, during a bearish impulse, could signal trend change:
-A net-short trader should hedge a long position against their short.
-A net-long trader can add to their long on the second or third bounce


Continued rejection at midline, one should take up a net position in the direction of which the chart is rejecting.
Release Notes: FEB 2020 UPDATE:
- New smarter colors at the midlines indicate if price action is looking more bearish or bullish
Release Notes: Now you can set alerts on Phantoms signals.
Invite-only script

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 coinobsalgos for more information, or follow the author's instructions below.

TradingView does not suggest paying for a script and using it until 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 Public Library.

Want to use this script on a chart?

Warning: please read before requesting access.

Thanks for checking us out!

For access to our TradingView scripts, visit us at http://coinobservatory.com/algos/?utm_source=tradingview&utm_medium=signature

Comments

Hi, this looks great, can I have a 24 hour trial?
+5 Reply
Hey @visionary_trader, saw your comment below.
Test access granted. Tell us what you think.
+4 Reply
Could I please have access to your script. Is their any re-printing with it?

And V2 please
+2 Reply
Hi, could I please test the script? Looks impressive! Thx ;)
+1 Reply
@Quantiq,
access granted
Reply
Hi, may I be granted access to this script, please and thanks!
Reply
Hi, Can these phantom scripts be used for all alt-coins as well? Which one would you recommend for Alt-coins? I could not find any youtube videos to know more about them. Can you please allow test access? Thank you.
Reply
can i test this too thanks
Reply
Hi i would like to test this
Reply
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