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YouTube Video Transcript
hey this is dave for big bits and this stream is starting a little bit late i’ve had some issues i tried to do the dual stream with trading view and also with youtube and twitch and it was having some issues so i ended up having to take a break for a little bit uh i had to go upstairs uh get some water came back down just decided to do it on youtube today and we’ll try to figure out what’s going on with the trading view stream because that’s what’s causing the issues they had some issues with their streaming server using this streaming software that i have so i had to put that on hold today and we’re over here for now so give me just a minute while i get some things set up everything’s kind of different today i’ve been changing kind of my streaming in my recording setup because i needed to make things a little bit more accessible and by that i mean making the videos more pleasing for people who are on mobile phones so i added the nice quick zoom feature here you should be able to see it zoomed now and then quickly zooming back out so that’s cool i like that and just hold on for just a little bit so i’m trying to get the music in the background and i gotta figure out how to do this without playing all of the sounds and this is something new but just in the meantime i did want to point out the oops the dow jones chart i’ve posted this on twitter but the mid bollinger band is being tested today it so far looks like it’s going to be rejected and also uh the mid bollinger band looks like it’s going to aim down sharply so i imagine we’re going to head back down to the 50 on there and just remove the bitcoin chart for now this is the s p it’s pretty much the same thing uh we’ll see if the mid band holds here but even then it doesn’t really matter too much because it’s kind of within the margin of error right now on whether or not it’s actually being held so even if it doesn’t really close below it it doesn’t really matter as long as it closes close to it and then looking here as well and what’s interesting is going back a long ways on the dow jones this doesn’t happen very often the mid band turning down before it gets back up to the 200-day moving average and we’ll go over that in just a minute but that was actually pretty interesting the one thing that is a working issue here is that momentum appears to be shifting up so the next couple of days could be huge now also keep in mind that this is just forecasted if the price jumps up quickly back up to the upper range here then that is going to level out and actually head back up so just something to keep in mind as well there we go i found what i needed so sorry about the delay like i said the whole setup’s kind of off today just because of everything that happened with all the issues starting the stream to begin with and where did this go i guess while i’m waiting on this maybe we should go ahead and talk about something else here it’s really not a whole lot going on today let’s see switch back to the s p i like to have it over here because i have my lines drawn you can see it’s testing the top of that range and also the mid bollinger band there so let’s take this back to bitcoin i do want to look at some of the crypto stuff in just a moment i did it on the wrong chart okay this is not gonna happen and i was muted so yeah my bad there’s been some issues going on here with the live stream today i haven’t been able to get it going like i wanted to uh apparently youtube is having some issues with some of the stream settings i have training view i couldn’t get the stream going there at all we’ve talked a little bit on this stream on youtube about the dow and about the s p and how they’re kind of testing the mid bollinger band and they’re testing this range here and it looks like their bollinger bands are going to head down here in the next few days but that of course is also dependent on holding within this range that we’ve drawn out here so if it holds within the range it looks to be a pretty good bet that those lines are gonna start moving down and then you’re gonna have to test the 50 and the 200 if those hold then you probably break back out up if they don’t then you’ll probably be moving back down all right so give me just a moment [Music] um okay so this is not working the way i thought it would either so my apologies let me get this figured out another time uh so back to the charts we’re also looking at the same thing with bitcoin here also testing it’s mid bollinger band uh it’s kind of in the middle of the range i’ve i’ve been expecting we’re going to get bitcoin to come back down back to the 100 and i’ve said i do expect it to kind of take some time and slowly work its way down then we’ll really see what’s going to happen once it tests those moving averages similar to how we’re talking about with the actual traditional markets there how they’re actually doing i don’t know the the stream looks fine to me okay the youtube message went away all right no now it’s back so i’m really sorry about all the issues we’re having here this was not an issue before okay the other one i want to check out we were talking about yesterday was crow it is up to all-time highs again which is very impressive the syndicate event is over or i believe it’s still executing people might not be able to withdraw just yet and know there was some stuff going on with that earlier it’s all something about issues they were having no that’s not it okay so i’m trying to find some more information out about their syndicate but i’m not too worried about it it’s supposed to be ending soon the chart doesn’t look all that great anyway meaning that it kind of looks toppy up here it doesn’t have a lower high just yet again but it is making these wonderful divergences on multiple indicators there and if it pops up again that might be the last one for a while at least in my opinion it’s going to be hard to keep printing divergences on all of those different indicators see also check out mco i have a feeling this one’s down another massive doji i believe this one is probably going to get ready for another drop as well uh with the awful news that it had earlier even though they had their cards unfrozen yesterday i believe there was some news about that i still feel like it’s going to come back down and it itself will probably print a divergence here as well as you’ll probably have an rsi divergence all right back to some of our favorite ones basic extension token it’s doing really well today and the way this chart looks is if it can finish with this bullish bullish engulfing candle and it can have an another good day tomorrow then what’s going to happen is this is going to continue to turn up you’re going to get your momentum to shift back up and it’s going to shoot back up and you may get back up to 30 cents again and at that point it’d be a little bit more sustainable and also we’ll see we’re about six days away now from having all the moving averages aligned perfectly on uh basic attention token so that’s really cool uh we still got a long ways to go back on that tail on the 200 so nothing really too important there we’ve already dropped off the horrible parts back from covid so yeah it’s looking really good i want to see it versus bitcoin though chart is very similar versus bitcoin very very similar zoom way out here so you can kind of get an idea of what we’re looking at what you’re wanting to see if if you’re holding this and you’re rooting for it to do very well and have its own sort of alt-season like the other coins you saw they shot up you know two three times at least within a day or two that didn’t really happen so much for basic extension token so for that to happen here you’re going to want to see it break past these levels again which were resistance and before that were a bit of support you can see around in through here there was a bit of support here here and it kind of turned resistance here here here so right past that maybe you can really shoot for the moon up there around 5000 satoshi’s and i’m not going to hold my breath for that if we get back up here aways uh i might take a little bit of profit this time i’ve got plenty of them to do so and i’m still going to hold what they call moon bags so that i’ll have still still have plenty left where i’ll be really happy if it does go back up there now i did want to share there were some updates on some things i’m working with so let me go to the live stream chart which for some reason i didn’t already have up i said today’s been a bad day and it’s already 117 so i don’t even have a whole lot of time left i gotta take a look at some other stuff over here too okay so i want to remove all these indicators because these are all on here from where i did the indicator template series or i should say just that video i am working on the advanced stochastic weights and that’s coming along very well these are all default inputs you can see this is where it’s trying to detect the bear divergence and i think it’s a little quick here but that’s okay these are default settings though so they’re not perfect it calculated one here but also did one here and here so those two were bad those two were good and this is also a barrier divergence so that one is bad as well so you have three bad and too good there you go back even further these weren’t the most well timed but it’s kind of hard to find the top on those parabolic runs and then you have a few back here that weren’t that great either and these are the default settings so you need to go back and play around with this and then also do some more work on the actual settings and where those divergences are if you saw i made a tweet the other day with the divergences added to it and the way that actually works let me show you the one that i’m kind of referring to i wanted it to work kind of like this to where it would draw the lines from the higher highs and the lower highs on the indicator but what’s happening is it’s actually requiring that at least several candles have passed since the divergence is detected so it wasn’t the best method to do it however they’re doing this and this indicator works a little bit better but i’ve kind of come up with my own way looking for certain conditions to be met on higher levels and what i’m really thinking about doing is also going back and taking whatever time frame we’re in and requiring that the bearish divergence occur at the higher time frame having a high rsi or something so this is the daily oh let’s take a look at both both of those little parabolic peaks so back here at 13k and then the one at 20k see if where the rsi is i should say well we’ll say it worked pretty well back there and that’s a bullish divergence down there and there’s not a whole lot of bullish divergences because honestly on the weekly chart on bitcoin it just doesn’t get down there very much and you had a bearish divergence there it was at the time of a drop was at the time of a drop there and there like i said it went a little higher there so even with that if we looked at the higher time frame rsi we’d still not be doing too great so i’m trying to find another example on what i want to actually use because this is waiting a couple of things together let’s see what just the stochastic rsi looks like there okay so that one isn’t too terrible just the stochastic rsi itself so we’ll require the stochastic rsi to be above like 90. you’re still going to get a lot of them down here my goodness so yeah i’m just trying to find where the best spot to do this stuff is and switch back to the one day that’s the exact opposite of what i wanted to do what i’m trying to do is i’m trying to find a moving average that when it’s above it is really good to catch those um i don’t want one that’s too quick or too slow so this was the first bullish divergence it found after the hma turned up there on the 150 day that was really good and then it started printing a few as it went below this was its first above it here but that proved to be useless and this was one here so i’m having a hard time trying to figure out where these should be and i forgot i actually need to check the indicators back on here to see if we got anything better with the actual defaults that’s where above there’s a fair div there and you got a bear div there so if you’re requiring that the price on the higher resolution uh be above the 150 whole moving average that’s not terrible let’s get two good ones there this one might have went through uh you might have actually hit take profit through that wick but either way it’s not terrible but these are the ones that are really bad i guess i should be more concerned with the bullish divergences because honestly that’s all i really want to do is go along so you got one there you got one here those are both really good this one was okay i mean it immediately bounced to the nature of how the stochastic weights work it’s going to on the first green candle pretty much always so you got your first green candle here and then you got a good move up so depending on where your take profit was is how well you’re going to be doing on that trade so you might end up getting stopped out but this one was really good i’d imagine you probably would have took profit there and you probably would have took profit down there this is these are really long time frames let’s go down to like an hour or something and compare the fancy moving average to the four hour so you get very div here is above that’s not good let’s find some bullish divergences all right you got one here that was awful so i think what you really want to see is a bear div below and you’re just not getting those interesting there you go there’s a bare div below the 100 moving average at the higher resolution then you’ve got a you would be looking for bull divs above the 100 period so you’re not going to get a lot of these if any apparently so you would have a bull div down here that was perfect so you get a bull div below or a bear div above wait no that’s opposite i’m here i am messing these things up again it’s really not a lot of bull divs it was way too bullish let’s go to the uh 15 minute the same thing because that just might have been a bad combination okay so we’re trading under it we would hit a bull bear div there excuse me it would went down that’s good let’s see we were over it so we wouldn’t have entered that one we were under it so we wouldn’t have got into that one although that would have been a really good one i’m surprised i didn’t find one here anywhere so you had a full bearded there a little diff there this actually looks really good on the 30 minute chart uh hardly any of these are bad so far that one was bad got a good one there got a really good one there that one was bad but that’s okay those two were bad that was bad that was good that was bad go back a little more bad there’s still a lot of work to be done here but honestly the best way you do this is kind of judging with your own eyes the hard part is automating this and getting this to where we can quantify this divergence here so like this is the perfect example of what you would want to look for like that’s that’s it it’s perfect and and it’s just not seeing that right now there’s i just need to find better ways to quantify what actually is the divergence here of course you can always play around with the settings and wait certain ones more change their speed they’re kaling and let’s see let’s weight them by their s moved rsi it becomes much pickier at this point and it’s missing a divergence there that one was really good but you can tell once you make this a little bit pickier it works a lot better and it’s always very hard to actually get a divergence when you do something like that not too upset with that one let’s go to the one hour this is one you may never see a divergence on that’s very good that’s not terrible that one’s good it’s just really hard to do this without repainting uh and actually sending the correct signal the first time so there’s obviously more work i need to do to get it figured out but it’s coming along very well the weighting itself actually does work and if you’re trading it by hand and you’re looking for divergences that way it works entirely fine might be better off to look for like hidden divergences instead so when you really smooth these things out then you’re really getting wrecked the problem with the stochastics is they move so quick after consolidation that that’s why the divergence occurs so what i would like to see is a way to weight the moves much heavier if the volatility has been higher so yeah so yes is there a way on trading view to back test the strategy on multiple stocks like a watch list and at the same time see the combined back test results so no not right now you could create a script that could simulate back testing and you could do it against multiple stocks that way but that’s very very complicated and probably not worth your time you’d just be better off just switching from stock to stock and they don’t have optimization either i’m sure these are things they would like to have but i think right now they’re kind of focusing on generating more revenue and that’s why they’re doing the streaming stuff which even though it didn’t work today i’m going to give them some time to get that figured out see i got to keep up with the time because i gotta get off here in just a minute i’m running a little late but we got started late so that’s entirely fine as well see i like this stochastic pc i’m thinking this might be the better way to weight the actual higher values see we need to also so there you go one there no one there that’s not too bad and you got one here that wasn’t too bad either i think with stochastic pcs you can actually use it to search for highs and lows i think a little bit easier that’s too much 10. at this point i’m kind of designing it more so just to look for the higher peaks and it’s not too bad that one was bad though all right don’t look at my code what was it i think it was mfi i forget what the normal input is for this one is it close yeah maybe mfi could help determine when we’re finally moving up high nope it diverges to was it obv was the other one i think ah that’s easy so i need to add that in uh the stochastic weights is the mfi because that’s oscillating between zero to 100 as well i forgot about that one all right let’s plot obv and this one’s going to make everything look awful but if we do a stochastic of it probably just have urged to but whatever so let’s see where was one of those divergences okay we’ll just hide that for now i don’t think that’s going to help i’m going to go through i want to change some of the k links on them to one i think that might help with the waiting because i think everything is moving a little too slow to be able to wait correctly i think that helped a lot i think that helped a lot using fast k instead it still needs to be smooth some more on the k length though you got real divergences forming there that one would have been okay but i want to find that one too kind of like these settings it’s not too bad seems like the stochastic pc and the stochastic volume are actually really valuable i wasn’t going to think that would be the case because there are indicators that i’ve made that i’ve never seen before but i i think they’re actually helping weight the divert the diversions more like this one doesn’t even get too overbought levels this one does that’s awesome and even that one that’s good and honestly just having a high level here is usually enough but the divergences are really good that’s 15 minutes so let’s try something a little bit longer it’s an hour it’s not terrible that one was pretty good probably got stopped out though bull div that one was good that one was really good prayer div here that one might have got stopped out but it’s not bad uh it’s a little early this one was really good see that one was really good that one was not good not good okay not good terrible no one went against you immediately uh that one was good it’s very good that was an immediate bounce this one’s perfect see this one you would have bought here so you would have made profit pretty quickly it would have dropped back down and it would came back up some more depending on your profit ranges you’d been fine it’s this one i’m kind of worried about so maybe if i change my k length that’ll help i don’t know i took the other one away maybe it’s a d-link there we go that one was bad bad bad okay oh wait this is that’s a huge stuff what was that well that one was perfect that one was bad that one was good these on the four hours seem pretty good so far this one not so much that one was a little early that one was good very good okay because it would have eventually came back up there probably i stopped out though uh let’s see this one it’s actually pretty good uh this one it’s amazing this one was good it looks like the four hour these are really good settings because almost all of these are doing really good wow well that one’s not so much but that’s getting close to the top of the parabola there uh that one would have got stopped out that’s fine they lose this one was good this one was good this one no that’s good bad bad very good very good good good i wish it would have caught one down there but it got this one so you would have been stopped out from that one you would have been stopped out from that one and you would have been stopped out from that one but you would have got the last one overall these settings aren’t that bad i need to convert this to a strategy i’m going to end up saving these settings i’m going to end the stream here in just a minute and yeah that’ll be it for today hey greetings from argentina marcos sorry i just now saw this you’ve learned a lot from the videos and the courses thank you very much and of course if you haven’t already check out the trading view profile like and follow over there because i’m doing some content there first now uh with some ideas that i’m posting the video ideas and for those of you who actually watch on youtube if you haven’t already please subscribe and like as well that helps a whole lot but other than that i think we’ll have to end the stream here today you can always reach out to me on twitter discord youtube tradingview whatever platform you want but that’ll do it for today thanks guys have a great day
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< br/> Come have a discussion about your favorite crypto, stocks or other TradingView features, or just listen and learn as BigBits shares knowledge and techniques towards developing indicators and strategies on TradingView with Pine.
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