Project Royalty BETA
This indicator is designed to be used in confluence with the PROJECT WINDFALL BETA.
Trend analysis combined with top and bottom signals. This indicator is aimed at minimizing risk by trading with the trend.
Color Definitions:
Blue candle coloring shows a bullish trend
Orange candle coloring shows a bearish trend
Signals:
Trading Strategy:
TRADE WITH THE TREND
While the trend is bullish (blue) ONLY LONG.
Long trend reversal signals (blue triangle).
Long bottom signals (blue cross) and then take profits on top signals (orange cross w/ circle). DO NOT short top signals while in a bullish trend.
While the trend is bearish (orange) ONLY SHORT.
Short trend reversal signals (orange triangle).
Short top signals (orange cross) and then take profits on bottom signals (blue cross w/ circle). DO NOT long top signals while in a bearish trend.
Stop Loss/Take Profit Bands:
Stop Loss and Take Profit Bands are provided to encourage the setting of both a SL and a TP (methods to minimize risk). When entering a long, set a SL at the SL band value of the signal candle (defaulted to 1%). Set a TP at the TP band value of the signal candle (defaulted to 1.8%). Default percentages are under the assumption of 10x trading leverage.
Ideal Settings:
It's advised to turn off candle borders and to change candle colors to match the colors used in the indicator (default blue and orange).
IMPORTANT:
This indicator is specifically tuned for BTCUSD and is most effective on the 1 HOUR time frame. Be warned when trading any other instrument with this oscillator.
Trend analysis combined with top and bottom signals. This indicator is aimed at minimizing risk by trading with the trend.
Color Definitions:
Blue candle coloring shows a bullish trend
Orange candle coloring shows a bearish trend
Signals:
- Blue Triangle - Trend reversal (bearish to bullish)
- Blue Cross - Local bottom while in a bullish trend
- Blue Cross w/ Circle - Local bottom while in a bearish trend
- Orange Triangle - Trend reversal (bullish to bearish)
- Orange Cross - Local top while in a bearish trend
- Orange Cross w/ Circle - Local bottom while in a bullish trend
Trading Strategy:
TRADE WITH THE TREND
While the trend is bullish (blue) ONLY LONG.
Long trend reversal signals (blue triangle).
Long bottom signals (blue cross) and then take profits on top signals (orange cross w/ circle). DO NOT short top signals while in a bullish trend.
While the trend is bearish (orange) ONLY SHORT.
Short trend reversal signals (orange triangle).
Short top signals (orange cross) and then take profits on bottom signals (blue cross w/ circle). DO NOT long top signals while in a bearish trend.
Stop Loss/Take Profit Bands:
Stop Loss and Take Profit Bands are provided to encourage the setting of both a SL and a TP (methods to minimize risk). When entering a long, set a SL at the SL band value of the signal candle (defaulted to 1%). Set a TP at the TP band value of the signal candle (defaulted to 1.8%). Default percentages are under the assumption of 10x trading leverage.
Ideal Settings:
It's advised to turn off candle borders and to change candle colors to match the colors used in the indicator (default blue and orange).
IMPORTANT:
This indicator is specifically tuned for BTCUSD and is most effective on the 1 HOUR time frame. Be warned when trading any other instrument with this oscillator.
Notes de version:
Alert conditions have been added for all signals, trend change triangles, crosses, and sun crosses (circle with cross).
Notes de version:
Credit to @SirVyper for this recommendation.
A noise cancellation method (Vortex Indicator) has been added to reduce the abundance of Cross and Sun Cross signals of both colors. This noise reduction can be adjusted in the settings and turned on/off.
A noise cancellation method (Vortex Indicator) has been added to reduce the abundance of Cross and Sun Cross signals of both colors. This noise reduction can be adjusted in the settings and turned on/off.