BEAM Bands is a version of the BEAM indicator that is drawn directly on the price chart. It is a more visual representation of BEAM and lets you compare it directly to the price.
Disclaimer: This is not financial advice. For educational purposes only.
BEAM Bands is a version of the BEAM indicator that is drawn directly on the price chart. It is a more visual representation of BEAM and lets you compare it directly to the price. On the other hand, you still have to look at the original BEAM indicator to see the BEAM value.
BEAM Bands consists of a upper and a lower line, which represent the 0.0 and 1.0 values of the BEAM indicator projected on a price chart. So the two lines are of course not straight but follow the price curve.
The upper and lower lines of BEAM Bands can also be used for predicting future prices. A minimum future ATH price is indicated by the upper line and a future price bottom is predicted by the lower line.
BEAM stands for "Bitcoin Economics Adaptive Multiple" and helps identifying promising times during a cycle for buying and selling Bitcoin, other crypto currencies as well as gold and silver. It was designed to be as clear as possible and avoid misinterpretation.
You can adjust the BEAM Bands parameters by clicking on its cog icon. There you can adjust the cycle length, the asset divisor as well as buy and sell thresholds. For non-crypto assets you can deactivate the Halving check box, which makes the halving lines and the hodl zones disappear.
There are three types of zones. A green buy zone indicates that it would be wise to buy. A red sell zone makes clear that selling might be a good idea. A gray hodl zone signals that it is advisable to keep on holding even if the price already seems rather high. At the start of the hodl zone there is usually also a new buying opportunity. The hodl zone runs 8 months before and after each Bitcoin halving, so it is only useful for cryto currencies.
BEAM works with other crypto currencies that are at least 3-4 years old, because they are highly correlated with Bitcoin itself and follow Bitcoin’s cycle. The future will show if BEAM also works fine with crypto currencies from 2017 and later. At the moment they linger near or below a BEAM value of zero throughout the chart.
When applying BEAM to Ethereum, XRP, Litecoin or other crypto assets it is not necessary to change any parameter. BEAM also works very well with Gold and Silver, provided that the cycle length is adjusted to 4000 days and the asset divisor to 1 or 1.25. BEAM is not suited for stock indices like the Dow Jones or S&P 500.
The BEAM indicator is not meant to be used to make buy or sell decisions on its own. It should be used as one tool among many in a big arsenal of indicators and other types of signals. BEAM has no absolute predicting power. There is no 100% guarantee that it will still work in future. Indicators and models can only be constructed retroactive. As the future is not fixed, they always fail to work after some time.
MikeBlazer
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@BitcoinEcon, unfortunately it doesn't work. The error:
Pine cannot determine the referencing length of a series. Try using max_bars_back.
Could you fix it?
muddy7
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@MikeBlazer, works fine with BNC brave New Coin chart
jmedinabtc
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Hi There. I hope you are well I tried to use this Beam bands indicator but i got a study error, so my question is if have you another similar or the fixed version. Thanks in advance
BEAM Bands consists of a upper and a lower line, which represent the 0.0 and 1.0 values of the BEAM indicator projected on a price chart. So the two lines are of course not straight but follow the price curve.
The upper and lower lines of BEAM Bands can also be used for predicting future prices. A minimum future ATH price is indicated by the upper line and a future price bottom is predicted by the lower line.
BEAM stands for "Bitcoin Economics Adaptive Multiple" and helps identifying promising times during a cycle for buying and selling Bitcoin, other crypto currencies as well as gold and silver. It was designed to be as clear as possible and avoid misinterpretation.
You can adjust the BEAM Bands parameters by clicking on its cog icon. There you can adjust the cycle length, the asset divisor as well as buy and sell thresholds. For non-crypto assets you can deactivate the Halving check box, which makes the halving lines and the hodl zones disappear.
There are three types of zones. A green buy zone indicates that it would be wise to buy. A red sell zone makes clear that selling might be a good idea. A gray hodl zone signals that it is advisable to keep on holding even if the price already seems rather high. At the start of the hodl zone there is usually also a new buying opportunity. The hodl zone runs 8 months before and after each Bitcoin halving, so it is only useful for cryto currencies.
BEAM works with other crypto currencies that are at least 3-4 years old, because they are highly correlated with Bitcoin itself and follow Bitcoin’s cycle. The future will show if BEAM also works fine with crypto currencies from 2017 and later. At the moment they linger near or below a BEAM value of zero throughout the chart.
When applying BEAM to Ethereum, XRP, Litecoin or other crypto assets it is not necessary to change any parameter. BEAM also works very well with Gold and Silver, provided that the cycle length is adjusted to 4000 days and the asset divisor to 1 or 1.25. BEAM is not suited for stock indices like the Dow Jones or S&P 500.
The BEAM indicator is not meant to be used to make buy or sell decisions on its own. It should be used as one tool among many in a big arsenal of indicators and other types of signals. BEAM has no absolute predicting power. There is no 100% guarantee that it will still work in future. Indicators and models can only be constructed retroactive. As the future is not fixed, they always fail to work after some time.