Psychosis - Bitcoin

18 apr

Psychosis - Bitcoin is a cutting-edge TradingView indicator inspired by the "spiderline" methodology, which has gained acclaim for its precision in marking critical market junctures. Our script uniquely adapts this method by plotting key lines from significant price movements between 2018 and the peak of 2019. Remarkably, these lines have not been updated since 2019, yet the market continues to respect them, highlighting their continued relevance and effectiveness.

Key Features:

Persistent Historical Lines: This indicator leverages lines established from 2018 to 2019, which continue to be pivotal in market analysis, demonstrating the enduring influence of these historical levels on current price action.

Dynamic Customization: Users can tailor the visibility, color, and width of the lines to match their trading preferences, ensuring a seamless integration into personal trading strategies.

Strategic Trade Boxes: Based on the proximity of current prices to these historical lines, our script automatically plots color-coded 'Buy' and 'Sell' boxes, simplifying the decision-making process by providing clear visual cues for potential trades.

Benefits:

Enhances technical analysis by using time-tested support and resistance lines that remain pertinent, providing traders with a reliable foundation for predicting price movements.
Adaptable to multiple markets, proving the method's robustness and wide-ranging applicability beyond just the cryptocurrency sector.
Intuitive visual aids and customization features make it easy for traders to adapt their strategies quickly, especially useful in the fast-paced cryptocurrency market.

Usage Guide:

To utilize this indicator, add it to your Bitcoin chart from the TradingView library. Configure the settings as desired, and employ the historical spiderlines along with the buy/sell boxes to pinpoint strategic trading opportunities. These lines serve as a guide for potential market responses, aiding in more informed trading decisions.

Originality and Utility:

"Psychosis - Bitcoin" revitalizes the traditional spiderline approach by focusing on historically significant lines that have proven their value over time, without the need for constant updates. This enduring relevance makes our script an indispensable tool for traders looking to leverage historical data for future gains.

15 set

Note di rilascio

Psychosis - Bitcoin v2: Enhanced Trading Indicator Based on Time-Tested "Spiderline" Methodology

Psychosis - Bitcoin v2 continues to build on the proven "spiderline" methodology, which has garnered attention for its accuracy in pinpointing crucial market junctures using historical lines derived from significant price movements between 2018 and the peak of 2019. These lines have demonstrated remarkable staying power, consistently influencing the Bitcoin market, even years after they were first established.

While version 1 focused on providing these key historical levels, version 2 introduces new functionalities and customization options to maximize their utility, empowering traders with more precise and actionable insights.

Key Features:

Persistent Historical Lines: The core of the indicator remains the same — lines based on significant price movements from 2018-2019 are retained and plotted on the chart. These lines continue to act as vital support and resistance levels, illustrating their enduring impact on Bitcoin's price action.

Enhanced Alerts and Thresholds: v2 offers more granular alert options, allowing traders to set custom alert thresholds for when the price comes within a specified distance of a critical line. This feature helps traders stay vigilant and ready to act when the market approaches these historically respected levels.

Interactive Dashboard: A new dashboard provides real-time information on:
The nearest above and below levels (like "Whale Lines") relative to the current price.
Whether the current price is within a defined actionable threshold.
Next potential alert levels above and below the price. This dashboard offers a clearer snapshot of market dynamics, making it easier for traders to make quick decisions.

Dynamic Customization: In addition to the existing options for adjusting line colors, visibility, and width, v2 provides more customization settings, including the ability to configure dashboard elements and alert line properties to suit individual trading styles and preferences.

Benefits:

Uses Time-Tested Market Levels: Continues to leverage historically significant lines from 2018-2019 that have proven to be reliable markers of support and resistance, helping traders forecast potential price movements.

Automated and Custom Alerts: Provides customizable alerts that help traders react swiftly to market movements near key levels, reducing the need for constant chart monitoring.

Intuitive Market Insights: The new dashboard feature simplifies analysis by consolidating critical market data into a single view, allowing for faster, more informed decision-making.

Flexible Across Multiple Markets: Although designed with Bitcoin in mind, the historical line methodology remains applicable to other cryptocurrencies or asset classes, making the tool versatile and robust.

Usage Guide:

To leverage Psychosis - Bitcoin v2, simply add it to your Bitcoin chart from the TradingView library:

Customize the line settings, alerts, and dashboard options to match your trading strategy.
Monitor the interactive dashboard for key market information and alerts.
Use the historical lines in conjunction with visual alerts to identify potential buy and sell opportunities around these crucial levels.