TraderTroys Mewn V1.2
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TraderTroys Mewn Indicator
This indicator is built from averages of different forms, combined they give an easy to follow momentum indicator .
If the Indicator goes from Red to Green, that's usually a buy signal.
If the indicator goes from Red to Blue, that's usually an indecision signal.
If the indicator goes from Green to Red, that's usually momentum is gone signal.
If the indicator goes from Green to Blue, that's usually momentum is dieing off signal.
If the indicator goes from Blue to Green, that's usually a weaker buy signal.
If the indicator goes from Blue to Red, that's usually a no more momentum to the upside signal.
The higher the time frame, the more reliable it appears to be.
It was originally created for Alt-Coins (Cryptocurrencies), but have since found it works on many.
It's a Keep It Stupidly Simple approach.
I find it works best on the 8 hour timeframe.
Trade Safe! May the gains forever be in your favor.
Backtest this before using it. See how price reacts to it. It should never be a single reason to enter/exit a trade, find further confluence in other indicators, tools.
This indicator is built from averages of different forms, combined they give an easy to follow momentum indicator .
If the Indicator goes from Red to Green, that's usually a buy signal.
If the indicator goes from Red to Blue, that's usually an indecision signal.
If the indicator goes from Green to Red, that's usually momentum is gone signal.
If the indicator goes from Green to Blue, that's usually momentum is dieing off signal.
If the indicator goes from Blue to Green, that's usually a weaker buy signal.
If the indicator goes from Blue to Red, that's usually a no more momentum to the upside signal.
The higher the time frame, the more reliable it appears to be.
It was originally created for Alt-Coins (Cryptocurrencies), but have since found it works on many.
It's a Keep It Stupidly Simple approach.
I find it works best on the 8 hour timeframe.
Trade Safe! May the gains forever be in your favor.
Backtest this before using it. See how price reacts to it. It should never be a single reason to enter/exit a trade, find further confluence in other indicators, tools.
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