This indicator puts the previous close value of a higher relevant time frame on the chart, it adepts to the period of the chart. Relevant means that it puts:
Close of previous year in monthly chart
Close of previous month in weekly chart
Close of either previous month of week in daily chart, default setting is week
Close of previous week in 4hourly and 3hourly...
It turned out not to be that easy to plot the close of the previous week in hourly or daily charts. In my first experiments things went wrong on Friday or intraday if you simply use the security function. So here is the thing with an algorithm that guaranties the correct value.
Based on Thomas Bulkowski's top ranking small pattern: the Downside Weekly Reversal pattern.
Add this indicator to your weekly charts.
Blue bars represent weekly reversals and green bars following blue bars indicate an upside breakout. These are to be traded in a Bull market.
Red bars following blue bars indicate a downside breakout. These are to be traded in a...
This indicator will help you if you struggle making any profit in bitcoin.
It generates very few signals with very nice profit potential ( around 100% this year ! ).
Perfect tool for longterm swing traders and new traders that need help figuring out the midterm trend.
Use it with these parameters only:
weekly: 13, 5, 12
daily: 92, 21, 96
