BloodInTheStreets
BloodInTheStreets is a Momentum Indicator derived from MikeTyson. It signals OverBought (OB) and OverSold (OS) condition in the Price Scale.
The indicator draws a OB/OS cloud. It signals OB/OS condition when price enters or goes beyond the cloud.
If price is:
It also includes a feature to draw a helper line to place your Stop Losses (SL).
The SL line is placed beyond the OB/OS cloud, at a point where there's a very low probability that could be taken by Market Makers Washouts.
Additionally, the indicator could be customized by:
The indicator needs at least 180 history bars to determine OB/OS levels.
The indicator draws a OB/OS cloud. It signals OB/OS condition when price enters or goes beyond the cloud.
If price is:
- In Between the Cloud: No man's land
- Inside the Upper/Lower Cloud: OB/OS
- Beyond the Upper/Lower Cloud: Strong OB/OS (very usual in crypto currencies)
It also includes a feature to draw a helper line to place your Stop Losses (SL).
The SL line is placed beyond the OB/OS cloud, at a point where there's a very low probability that could be taken by Market Makers Washouts.
Additionally, the indicator could be customized by:
- Show/Hide Cloud
- Cloud Factor: To fine tune the OB/OS levels according to the characteristics of each market
The indicator needs at least 180 history bars to determine OB/OS levels.
I develop indicators meant to be useful, profitable and good looking.