So, here's what we ended up doing for the most recent one that we created.
1. We took the ATR (Average True Range) - You can read about that here: medium.com
2. Then applied the Bollinger Bands %B to it
3. Then overlayed it with another indicator
Simple as this, while price is in the yellow field, it is in indecision, if it's in the red fields, the trend is bearish. If the price reaches bear level 4, there is a high possibility that it will jump to the Bull level 4.
If the price is in the green field, it gives you an indication that it's bull trend. If price reaches bull level 4, there is high possibility...
Buy in Red, Sell in Lower Red
UPTREND = IF the bar stays in the red
DOWNTREND = If the bars Stays in the lower Red
Price will come on green in long term.
use for day trades, long trades not recommended !
Just a basic indicator I rigged up to help reduce screen real estate that ended up providing more insight than expected; overlays both the stochastic and stochastic RSI. While I initially made this to save space, I've begun to pick up on some interesting patterns in cryptocurrencies based on the divergence of stochastic from the stochastic RSI, and the comparison...