Hobble Skirt Bottom Impede Fashion (by ChartArt)

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⋅ 19 มกรา 2015 เวลา 23 นาฬิกา 16 นาที

A very noisy indicator to detect bottoms and new uptrends.
Original idea by ChartArt.

First published indicator - constructive criticism welcome.
(The indicator is experimental and doesn't work most of the time.)

I would describe it as an "coincident indicator". The signals occur at approximately the same time as the conditions it signifies. Rather than predicting future events it changes at the same time to the upside as possible bottoms show up.

P.S. hobble skirt is a syllable of chart, that is how I came up with the name
"A hobble skirt was a skirt with a narrow enough hem to significantly impede the wearer's stride, and was a short-lived fashion trend around the turn of the twentieth century."

P.P.S. Bottoms are also short-lived...

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ChartArt

⋅ 19 มกรา 2015 เวลา 23 นาฬิกา 32 นาที

Here is a weekly Bitcoin chart with the Hobble Skirt Bottom Impede Fashion:

And a monthly chart with this indicator:

ChartArt

⋅ 19 มกรา 2015 เวลา 23 นาฬิกา 39 นาที

And a 1 hour chart with the "impede" as background color.

ChartArt

⋅ 19 มกรา 2015 เวลา 23 นาฬิกา 42 นาที

4 hour chart:

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