Discussing Custom Indicators – Fancy Indicators

Discussing Custom Indicators – Fancy Indicators

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YouTube Video Transcript

okay yeah we’re life cool alright so if you do not know I am dated four big bits I did a lot of videos educational type stuff for pine script on YouTube here on trading be today’s streaming as well as on YouTube with the restrain feature and we’re gonna be talking about some of the indicators have been working on a bit sharing one of which was featured recently and another is going to be featured again soon so if you all have any questions just let me know I know there’s a lot going on right now but yeah just if you’re stopping by just leave a question or something in the chat and I’ll try and keep up with it and I’ve also gotta pull up something else here just a moment before we get started really I’m pulling up the YouTube chat as well just in case anybody over there has any questions be cool if y’all could come to the tradingview stream if you’re over there but if you’d rather not I completely understand I’m just trying to pull the chat up for that as well what’s up I’m just getting some things straightened up here before we really get going hey Aaron I see you on YouTube there huh let me pop that chat out close that okay cool I’m gonna get started in just a moment all right so we’ve got everything set up here on my other screen and I need one more thing hey Zack is hey love your indicators especially the video and started using as soon as it’s on yeah thanks man I have some updates coming to it I don’t know if you saw the last livestream actually made some updates to that particular indicator and Allen they are available publicly on the tradingview public library so I can actually show you that right now we click on to add an indicator search for public search within a public library you just type in the word fancy and I’m reading before search results so there’s actually three different fancy indicators out there right now and the the first one was the fancy moving average which is really the core component to all of these different indicators and then release the fancy triple moving averages and the fancy Bollinger Bands I’ll go ahead and add the fancy moving averages and we can kind of get started with that one or this is actually just a single pane see moving average now I think I’m gonna switch the chart to a one second resolution just so you can kind of see things moving I like to do some development on these very very micro resolutions so you can see how the indicators will actually operate live without having to run the replay feature over and over but let’s see so the moving average this is just a basic moving average when you look at it it’s a 50 period SMA it looks a little funky the green dots out in front of it are forecasted values so this is where it anticipates the value of the moving average to be over the next five periods given the price stays exactly the same as it is currently and the reason the end is green and it stops being green here is that the highlighted section I call this the inclusion period is highlighted so that you can see back the last 50 candles so we have a 50 period look back on this moving average so we’re gonna go back with this green section 50 candles and it shows you exactly what candles were actually included in the calculation for the moving average indicator itself and then of course there’s the option to show the ghost trail here so that’s what you see but there’s actually a lot more to this indicator and as I said this indicator makes up the core components of the other indicators that we’ve created and shared here so start out with since this is just a single moving average everything is related to a single moving average we have our look-back period that I told you about 50 so let’s change that actually to 200 and you can see this inclusion period changes okay so not only did the line change but it went back all the way back here now so you can see that all the candles back to where the highlighted section stops were included in the moving average calculation now the type we can of course change the type of moving average we have selected so this isn’t hard-coded to be a simple moving average or an exponential or weighted moving average this can be any of these options and if I’ve missed any and you want to see any more at it just let me know and we can actually add more whenever we want that’s one of the great things about publishing these groups on tradingview is that we can update them and we can add and modify as needed so I would like to change this to an exponential moving average so right now we’re looking at a 200 EMA on a one-second chart and so we can kind of see things updating as they go and you can change the source of the data that you use to calculate the moving average so by default it’s using the current or the end price of the candle too close and say we wanted to use just the high which should move the line up just slightly yeah and you notice it just did move the line up slightly and you can also use like typical price and some other options that are built in these are data types that are built-in as the source options on your inputs here now one of the things that people might be kind of confused about is the resolution and also the candle type next but I’ll start with the resolution the resolution is basically the time frame that you’re looking at or your candle size that you’re looking at on the chart so we’re looking at one second candles so this moving average is actually doing a 200 second average so if you really end this on the daily chart you would have a 200 day moving average here but we’re on the one-second chart so the current resolution this is a 200 second chart trade on the emaze yeah pretty popular I don’t really do the EMAs too much simple moving averages are usually pretty close and work out about the same for me but the resolution we can take this up and we can set this to 1 minute so we can look at these higher resolutions very easily so we’re looking at a 1 second chart but this is the 200 minute average all the way up here let’s zoom out and see if it actually means anything so it looks like price has been going down pretty steadily over the last several minutes so let’s actually change this to just like a 50 minute average on an email and you see it’s a little bit more important but charting on 1 second time frames what is important you know the inclusion kind of can act a little funky when you’re looking at these different resolutions but for the most part it works pretty well when we’re we’re looking at larger resolution so go back to a one-minute chart and change our resolution to a 5 minutes okay so maybe these don’t line up maybe I fixed that in the triple fancy triple moving averages but I could’ve sworn that line up it does in the screenshot for it either way we’re all pretty close here and really in a 1-minute chart and you can see this goes back 50 still and that’s kind of an issue I did actually update this on the on the triple moving averages because it will not do the highlight inclusion when you’re looking at a separate resolution other than the current one so yeah this actually needs to be fixed on this particular indicator I need to go back and do that but you kind of get the idea we’re looking at these different ones that I can actually just change one of the settings and it’ll take care of that for me okay so this is the 5-minute 200 wait mil I reset that I guess so this is the 50 now 50 EMA on the 5-minute chart plotted on the 1-minute chart so you’ll see it stays flat for a little while and then changes that’s because for five minutes it doesn’t change because we’re using the five minute resolution here so hopefully that’s not too confusing it can be for some people especially people who are new all right you got a question Zach is trying to create an exit that exits on clothes thinking daily if the position is in profit or just hard exit on the clothes five bars later so yeah there are a couple of ways that you can do that you can use time the time feature to make sure that your strategy is executing at the very beginning and you have to know the unix time for it and actually have a video out there that kind of discusses unix time and then you’ll also have another way to do it probably if you’re not using a strategy and you’re using alerts it’s a little bit easier because one of the settings on alerts is too close or to actually only execute once per bar let’s see pull this up okay here we go so here you can have it execute an alert once per bar closed and I think there actually is a setting on the strategy that allows it to only update on like the clothes let me pull up the pine script reference manual I’ll show you okay I think by defaults the strategies only calculates at the end of the candle or only update at the end of it I typically use calculate on every tick which is another option let me show you this on the screen so I actually use calculate on every tick on the strategies that I do just because I’m very selective and the conditions may only hit for a few minutes on like a daily chart or an hourly chart before they’re no longer valid so I’d like to use every tick because that will guarantee it gets in to a position when I use my strategies and there’s also the one for order fills so this is basically just whenever in order it shows up as filled as well and you’ll notice it says not only at the close of the bar meaning that it should update it the close at the bar by default all right actually I’m gonna leave that open on the other screen here okay so we need that gonna check the block Explorer for Bitcoin see for any closer still seven more blocks we might actually not have it happen on stream I thought we were going to for sure but then there was a forty minute break between a couple of the blocks so it might not actually happen yet alright so that our well that is the basics for the resolution go on and discuss the problems that he’s you’re welcome man so that gives me the next one is the candle type so let’s go ahead and reset everything back we’re back to looking at a one-minute candle with a 50 period EMA or SMA now excuse me I reset everything we’re looking at a 50 period SMA on the one-minute candle so we can actually change the candle type similar to looking at different candle types for the chart or the chart type we can actually choose to tell it to plot the 50 period SMA for the fake and ashy candles so this is what it looks like there it’s very similar to your regular candles so let’s go ahead and change that setting here you’ll notice it should be slightly different okay it did change slightly and you can select the other chart types and it doesn’t mean that they’re actually gonna work so keep that in mind there are some issues with like forecasting you can tell and also there appears to be that the data is calculated differently because the chart types are different so you’re gonna have them kind of not lineup the way you would expect so this isn’t really close to a 50 on here but that’s kind of what you should expect because you’re using a completely different chart type see some of these just plain don’t work but the line break that one appears to still be plotting a line which is good kaga that one’s actually pretty close that was not too bad and I think the point and figure is the one that’s just plain broke it won’t work unless you’re on that particular chart type but I have included it because that actually is one of the options for this particular function for the security function in pine so if that ever is fixed and/or it ever is made to where it will show data then that will take care of that but for now it’s just gonna throw you that error message so switch back to the current one and of course there’s these other options visible highlight inclusion show the ghost trail so that goes trail as I talked about it’s a great part behind it if you uncheck that it’s only gonna show the highlighted areas and also if you uncheck the highlight inclusion it’s just going to show you a solid line all the way back so finally let’s reset this now we’re going to talk about the actual forecasts themselves so as I mentioned the forecasts are the green dots here on this particular indicator that kind of show you a little bit more going ahead as to where it was anticipate the values vn so what I have done is I actually kind of enhanced some of the some of the examples that I had seen out there for forecasting and I kind of gave you the ability to place a bias on your forecasting so by default a lot of the forecasting that I saw just kind of calculated based on the current price as if it were to stay that way over the next candles that were forecasting so what I did was I actually changed it to allow for a bias to be either bullish or bearish so you’ll notice when I select bullish these dots should line up there’s a little bit higher maybe not a lot yeah so they moved up just a little bit and this is calculated using a 14 period ATR that’s the biased period 14 it uses an ATR to get the size of the candles that it’s going to use for the forecasted move and now it looks like things are kind of dumping right now so maybe we want to put a bearish forecast on here and you’ll know it points them down but you know it looks like it’s dumping pretty hard so maybe we want to put a higher magnitude on there and that just kind of multiplies the bias value so let’s step this up and you’ll notice these start pointing down much sharper okay so we’ve got a bearish magnitude for forecast so it makes them point down pretty hard and honestly it might not be that bad of a forecast in this situation if this kind of dump were to continue in the price and the only other option is to hide the forecast so that took care of this indicator which is the core for the other indicators that I’ve created the fancy triple moving averages and also the fancy Bollinger Bands indicator so I’m actually going to remove this indicator from the chart and we can get moving and looking at the fancy triple moving averages and then we will move on to the fancy Bollinger Bands and we’ve got a few people watching so if you do have any questions please ask in the chat otherwise I’m just going to continue talking here about these indicators that we’ve created all right so this is the fancy triple moving averages you’ll notice this green line is exactly the same as the one we were just looking at and that’s because it is it’s exactly the same it is the 50 period SMA by default but by default we also have the 100 period with its inclusion in yellow and the 200 period which is the red line inclusion here and they all of course show their ghost trail by default so a lot of these settings are very repetitive from that core indicator that I mentioned hey thank you for the compliment Liam I’m just call you Liam your name is lmm so i’ma call you Liam thanks Lee anyway so we’ve got that here with this particular one and we’ve got all of the basic settings that we had before plus we have the ability to hide a certain moving averages so if we only wanted to of course you could hide an entire moving average just by unchecking that it’s visible and honestly that’s all this is it’s essentially just three of those fancy moving averages placed together it did take a little bit of code changes to of course add the forecasting for these but where this can be valuable is you can actually have say we’re looking at the 1-minute chart still okay so we are looking at the 1-minute chart so we can take a look at the 50 period 1 minute so let’s take a look at the 50 period 5 minutes which change our resolution and then we can also take a look at the 50 period 15 minute so that’s kind of the value here in doing the triple moving averages you can actually well you start out with three of them so you don’t have to add that one indicator three times but when you change the resolution on them you can get an idea of where these different moving averages are over different resolutions so we’re looking at a one minute chart but we see the five I believe this is the five minutes fifty period and this is the 15 minute 50 period average so if you were zoomed in to your chart pretty far and you’re trading one minute candles like this and you wanted to know where the daily moving average was let’s change this green line to the daily now all you have to do is just change the resolution and now we know where the 50-day moving average is on Bitcoin so maybe we know this is the key target to look out for and we’re probably gonna trade in this range perhaps so that’s just an example of how you can actually use the resolutions especially zoomed in on these smaller charts and I did forget to mention that when you zoom out on your resolution say we’re looking at the daily charts now the 50-day works completely fine but you’ll notice the red and yellow lines are really close to the price and that’s because we are looking at such small resolutions on those and it can only capture and plot the price once per bar so with those particular ones you’re probably seeing the last value for the 50 period on the 15 and 5 back here on these particular candles during that day so I think you’re seeing the last value for that day for those particular era jiz so there’s really no good way to see within those days when you’re zoomed out using those custom resolutions like that hey chase what I’m sorry if I butchered your name but thanks for joining if you got any questions just let me know but as I’ve been mentioning here recently if you were to zoom out your resolution and you wanted to look at a smaller resolution such as the 1 minute 5 minute 15 minute on a daily chart you’re gonna be missing a lot of that data because it’s within the bars whereas the opposite is true when we’re looking at a one minute chart we have all the data for the 5 and 15 minute because our current resolution is what makes up post larger resolution so we have access to more of that data on these smaller resolutions whereas the opposite is true the other way around and the one other thing I wanted to mention was I did have the fix on this indicator that I didn’t have on the original window which reminds me I need to go back and do that that was let me change this to the current resolution again so with the inclusion trails going back to here you’ll notice that since these are a different resolution they no longer have the inclusion trail and that was the fix that issue to where the lines would not connect and also if you showed a 50 period inclusion trail on this one because it’s on a five-minute chart it would be a little bit deceiving because it would only show back 50 minutes I would have had to created a function to calculate the correct bars back to show that inclusion and it just seems kind of unnecessary so if you’re on a different resolution it’s only going to show a solid line as long as you leave it set to the current resolution you’ll be able to use the inclusion trails and the way that’s accomplished for those of you who actually kind of follow my series on the tutorials and stuff is we use the show last and offset features of plotting so on the inclusion we’re only showing the last 50 bars worth and then with the highlight trail we are using an offset to the left and then not only are we offsetting the current value by that amount we are also plotting the value of that moving average back that far ago so we are plotting currently offsetting the data but we’re offsetting it by the amount of bars that it would be to actually plot the actual data was on that bar so it’s kind of a little trick or hack I guess you could say to make it show you the data on the same line but with two different colors but it’s it’s pretty handy it’s helped me a lot to kind of help see what’s going to essentially happened beyond just the five period forecast that it has you can kind of see when a huge candle like this gets taken out that it makes it easier for the forecast to go back up once actually makes it easier to go down excuse me when you’re in this particular situation okay so that’s it’s for the triple moving averages we can take a look at the Bollinger Bands and this one is brand new now just publish this one I think last Friday so go to the public library and I actually have some updates to this one we’ll talk about that let’s add it to the chart okay so this is the fancy Bollinger Bands you’ll notice it has similar features to the fancy moving averages that we’ve done but it also has this nice gradient between the lines if you’re familiar with Bollinger Bands you’ll know that you know within a certain standard deviation of price the current price should stay within a relative range of that and so what we’re doing here with the gradient is we are actually using the percentage B which is here to determine the color of the gradient so depending on your percentage B is the color your gradient the lower it is on percentage B the more brighter red it is and the higher it is on percentage B the brighter green it gets now I also have it set up to where we’re doing the inclusion trail or the ghost trail on the gradient as well you can see it gets a little dimmer back here it still has a gradient but it is a lot dimmer and we can actually toggle that on and off as well so let me go back and [Music] unhighlight the inclusions so you can see the gradient works all the way back and that’s using percent B and that’s very important to remember this is not considering the middle band really whatsoever I’ve well there’s some issues with this one when we get into one of the new features that will make it appear like the gradients aren’t correct but they are and I’ll go ahead and tell you that we have added a feature to smooth the upper and lower bands so you see how they’re kind of jagged in places we can put a moving average on the upper and lower bands so they’re actually a little bit smoother and you don’t have those jagan movements now it does make it to where the price is easier to go under it or above it but to fix that you can change your deviation and it’ll make it a little bit harder again so I’ll show you that in just a moment you see all the other core features from the fancy moving average are in here and since this is a Bollinger Bands type indicator we do have the deviation multiplier and with Bollinger Bands that is the standard deviation that you use to calculate the upper and lower bands based on the location of the middle band and the standard deviation in price now I’ve also added the option to use the average true range which is basically an average of the true range in price so if you’re not familiar with that please go to the calculation for that I can’t remember it off the top of my head but essentially you’re kind of getting an average on the range in price up and down over the last 14 candles in this particular instance so we get that average change in price and then we multiply that by two and we add that to the middle band to get our upper band subtracted to get the lower band so this is actually I believe like Keltner channels I believe you can make the Keltner channels using this feature and changing the middle band type to an EMA I believe I can’t fully remember the Keltner channel calculation but I’m pretty sure I remember it used an EMA on the middle band and ATR to calculate the bottom and upper bands as well so let’s reset our settings here alright so similar to the other one we can also remove the ghost trail so really all you’re seeing now are the last 20 candles worth of Bollinger Band data and the fill on the inside with the gradient I’m not sure when you would ever want to use something like that but that’s kind of the point of the fancy indicators that I created is that they have a lot of detail in them so that you can do well not just a lot of detail but a lot of features so that you can do a lot of things otherwise and hey looks like we got them out here Shep like how you doing buddy if you want to know anything just let me know if you have any questions for me about what I’m doing just ask you’ve got some questions on YouTube coming in – thanks man I just found your indicators are their idea time frames for these I’m not sure what you mean by idea time frames if you can explain that a little bit better I’ll try and answer your question for you but okay back to the fancy Bollinger Bands here oh the ideal time frames I don’t know man that’s kind of up to you and your your trading method I can’t really tell you what sort of time frames or resolutions you should be looking at on the charts if that’s what you mean it’s different for everyone however they want to trade I usually mostly just trade like daily charts and stuff but we also have our forecasts and that is for the mid band only because that’s the moving average a pineco ders nice to see another mod in here thanks for joining and thank you for some of the recognition on you know featuring some of the scripts glad to talk about the indicators of course it’s hard to get time to come on here sometimes but of course if anyone has any questions or like to talk about anything just let me know them alright so we’ve already discussed the forecast bias and that is just for the mid band because it’s the only one that is a moving average and really that’s all there is for this one it’s just a lot of utility for a Bollinger Bands Type Indicator of course I don’t know when you would use this stuff but if you’re looking for patterns it’s a pretty good idea in my opinion to have all kinds of tools in front of you so you know something crazy like a whole moving average for your middle band look how wow that is and you’ll notice the price still kind of stays in between the bands so it’s kind of interesting as well there’s just a lot of weird things you can do when you have all these features on here and of course we can change the look-back period and all that stuff so you can make the bands look really funny and I’ll actually show you that in just a moment because I’ve added some new stuff to it since Friday when I first published it somebody have to actually remove this oh and I did want to mention if you uncheck show details they’ll get rid of that label up there with all the information and if you didn’t notice it was showing you a bunch of different information regarding the Bollinger Band so of course you can look at the data up here I think most people do a lot of people are unfamiliar that there is a data window over here to where you can see these values that you’ve plotted and you can just look at those over here but a lot of people don’t really know about the data window or don’t bother to look at it I know it took me a while to even realize it was there so I’ve put those on the charts I think I need to uncheck that by default but I wanted to show that on the screenshot when I published the actual indicator so I think that’s why it was on by default all right so I’ll go to my scripts because I do have the updated version of it here I’ll add this I’ll take just a moment let’s check in on the lock explorer real quick say for any closer to the having five more blocks pretty cool so normally that would be another 50 minutes but there’s been a lot of variation in the block times recently so who knows it might happen sooner okay so let’s look at the features that I’ve added here okay so what I did was I actually added the ability to set your deviation multiplier for the upper band and the lower band separately so the upper band here is two so if we multiply this by a higher deviation multiplier it’ll just increase the distance from the middle band on the upper band and since there are two separate settings if we leave this at two this one should stay the same and this one should increase so just step that up there and you’ll see that it changes now something also very important to remember is that the gradient is based on the percent be not it’s I guess zone of the indicator so we’re not looking at like quadrants here so we’re not looking at an upper upper middle lower middle and lower quadrant we are looking at percentage based values with percent B and you’ll notice that it’s red up above the midline that’s because it’s lower than 50% B when it closed here so that’s just important to kind of point out for those of you who might be changing the bands now if you were to change it to where the lower band also had three and a half then it would work using that kind of idea and when you look at it when they have the same value that’s what you’re gonna see most likely in your head you’re gonna think oh this is related to where the price is compared to the middle band no I designed the percent B to be what determines the gradient value all right so we still have our ATR option go back a little bit more down here now I’ve also added the option in to hide the fill I think that might have actually been in the one that’s actually released like right now that just removes that gradient entirely and I’ve actually added another option to use a basic fill so this is just a basic fill between the bands nice blue color but also it gets overridden if you select hide fill so if you want to hide the fill you don’t have to worry about unchecking this one as well it’ll automatically override the other one yes pattern syntax on YouTube the having is today it is just a couple of blocks away now five the last time I checked I’ll actually pull that up on screen if you all are interested refresh make sure there hasn’t been any new one since I said that no so we’ve got five blocks that’s going to happen at block height six hundred thirty thousand and then the rewards on Bitcoin will be reduced to six and a quarter for every block instead of twelve and a half and I’m I’m pretty excited about that I’m I’m very prepared for the having I actually had my own t-shirt and then I made custom for it actually share that with you all kind of proud of it I made it myself it’s nothing I would ever wear outside of the house for fear of judgment from the rest of the world alright so the last feature that I added here and I want to show the fill actually so we get an idea what’s going on Ashley’s face is that I added the ability to smooth the upper and lower bands and as I mentioned earlier they’re pretty jagged in certain areas and it’s just not really aesthetically appealing so what I wanted to do was I wanted to smooth them and by default I used a one period SMA which is just the actual value of the upper and lower bands so if we increase it to three you’ll notice that smooth them out just a little bit and as I’ve mentioned before there may or may not be any good reason to put to smooth your bands but you have the option to if you wanted to so if you find a pattern on this you can actually use smooth bands now if you wanted to so it can be as abuse for you if you find a good pattern for it and that’s the whole purpose of these particular indicators is to give you the absolute most functionality that I can think of out of the most basic indicators so we’ve taken a Bollinger Band indicator and we’ve made it into like the Swiss Army knife of Bollinger Band indications you can do just about whatever you want with it within the realm of Bollinger Bands as far as I can tell I don’t know what else you could really do with Bollinger Bands and if you can think of it let me know we’ll add it can you set alerts for these yes you can set alerts for it um let’s see not yet on the fancy Bollinger Bands I don’t have the alert conditions set up on it and I’m going to be doing that so thank you for reminding me I will go back and I will add alert conditions to the fancy Bollinger Bands but it is set up on the fancy triple moving averages that you can use several so we hide that I’m gonna leave that indicator on there can still want something I want to show you with that one and let’s see why am i sir why my just scrolling all right I’ve got that added back when you go to add an alerts on the condition just select the fancy triple moving average and then I’ve got looks like 12 of them coded in so you can use the cross unders cross overs for the first eight and then for the next sick well first six excuse me then the second set of six are just tracking the price crossing over those moving averages are crossing under those moving averages and yeah V L M L on YouTube I completely agree with the with your statement on the Bollinger Band kind of helping to show consolidation and stuff I don’t use it a whole lot but it is really good in combination with other indicators what I personally like to do with the Bollinger Bands is I like to look for big movements like this and then of course I also look for a low RSI value but that’s going to be given considering you have a huge dump but also look for momentum changing back upwards on like a stochastic or stochastic RSI and it can sometimes be a good opportunity to catch a move back up to the middle band and then also I probably wouldn’t trade that one because I usually like to look for a divergence first and then momentum moving back up before I would trade it personally but I don’t do too much intraday stuff I just kind of play around with trying to find some of these patterns here all right so back to the band’s I just wanted to show you how crazy this one can get if I can remember these settings correctly and it literally made me laugh the first time I did this okay so we have a 33 period whole moving average and our I want to change the deviation back to two on both of them okay so you’ll notice it they get pretty tight but I want to smooth these out I think it was 20 each so you had some really weird stuff when you start smoothing these bands and playing with different moving averages so yeah here here’s a really good example you have a middle band going outside of the lower band so you can do some really dumb stuff if you try to and there was an instance when I did this the first time where I played around with these settings and I had the upper band cross under the lower band so yeah if you ever have a need to have your middle band on your Bollinger Bands go below your lower band look no further you have found the indicator you need all right uh let’s see I need to make a note for myself to actually add those alert conditions give me a second because that was a very good thing to remind me of and then I also need to go back to the original one the original fancy moving average and fix its inclusion trail on the multiple resolutions so I kind of would like an idea of what kind of conditions for alerts you would like to see on a Bollinger Band of course there is a price the price alerts you know like the price going above below certain bands but I don’t know if there’s anything else off the top of my head of course I’m kind of multitasking right now so it’s hard to think and not only with the alert conditions if you all can think of any other features that you want to see please let me know and one of the things that I wanted to do with this indicator because Bollinger Bands has a lot of related information with it I also calculated the percent bee and also the Bollinger Band width and display that here I couldn’t think of a really good way to represent the Bollinger Band width on top of it kind of like I did with the gradient with percent B so if you can think of a way to show this one to where I don’t have to display the full details here that’d be great but I’m also looking for any other Bollinger Band Type Indicator I guess it would I should say that indicators that require Bollinger Bands so something similar to percent B or the Bollinger Band with where it takes your upper or middle lower bands some of the data from an actual Bollinger Bands indicator and allows you to come up with another one such as the width or percent B let’s check on Bitcoin again here alright get four more I don’t know if I can last until the halving occurs on stream here and that’s a that’s a long time of talking I’m not much of a talker typically until I get in front of the camera here on youtube or for training view or something alright I’m just looking up some stuff over here yes and then if you’ll have any questions of course just ask so typically when I do streams I usually play some really chilled background music but right now I’m using the trading view streaming platform which unfortunately I can’t use like a broadcasting software like OBS on it right now so I’m not able to play that music and it kind of lets me chill I don’t feel like I have to talk the whole time so you can kind of listen to something else and Erin thank you very much man that that means a lot I I try to create my tutorials on YouTube designed for people who pretty much have no experience coding yeah because when you’re coming into a new language if you’re a beginner or you know English isn’t your first language then having something broken down in the most simple terms is very valuable and one of the things that I’ve realized ever since I started working with you know like trading and indicators and this kind of stuff is there’s a lot of really really smart people and there are a lot of people who can also kind of act elitist in this area it’s kind of sad because they’re so smart and there’s a lot of the latest people as well but they create their code at such a very detailed level and I’m not saying these are the elitist people but there’s a lot of really smart people who make their code and they make it like really detailed and minimized as much as possible but when you do these things it makes it really hard to read for other people and since I’m doing tutorials and stuff I think it’s really important for people to be able to read the code and make it as readable as possible and not minimize the code as well because and by minimizing I mean you’re taking multiple lines of code and kind of converging it all into as little lines of code as possible so in my opinion the tutorials as long as it gets the job done it’s completely fine and since I’m sharing these scripts with everyone open-source it’s great for people to go back and reference especially if they’re not normal programmers if they want to go back and reference something they don’t have to like sit down and learn coding standards and conventions to read the code it just kind of makes sense when you go and look at it for the most part okay so another question – I think we’ll see a further downtrend upon the halving that’s hard to say I mean I’ll actually show you my chart that I have because I think I’m kind of done talking about the indicators unless anyone here on trading view streams or on YouTube have any questions about it I can go back and take a look at some of this stuff obviously whenever we want alright so we’re only three blocks away so it could be anywhere from probably twenty to fifty minutes from now depending on when the blocks are found so these are the indicators I typically use and I’ve been looking at this and Pete lately but you know we had this excellent run up let me hide the Bollinger Bands I need to replace that with my new one anyway we had that excellent run up and the reason I use the fancy triple moving averages is because I like to find support and resistance with the moving averages at least on the daily timeframe I’ve noticed whenever it hits these it usually acts as resistance at least intraday and a lot of times on the daily scale as well so like this candle that shot straight through the 100 to 200 those values did act as resistance if even for a moment on the intraday charts like the 5 minute and 15 minute but of course it blasted through it and made no difference but for the most part I like to use them to at least kind of look for resistance and I also like the forecast feature on here because a lot of times you get an idea of where momentum might be heading to so like you see that it might be going to cross back up again and you would have all three moving averages potentially heading upward at that point but at the same time you’ve got momentum heading down into my head move that out from behind my head you’ve also got momentum moving down on a bunch of these indicators so combining the momentum with the moving averages as potential support you know I could probably let me pull up the drawing tool here I could continue to see something like this because the momentum is getting down pretty low already and if that doesn’t happen then it’s probably you know more like this and then who knows from there but if I had to bet it’s it’s probably this one but of course I’ve been not doing too great lately so I typically just wait until like the values are really low for a long time kind of like this I probably would have bought here honestly with my trading method but of course then it dumped really hard so that’s of course why you have stop losses and stuff but then I would have bought back in and I did at 4 and a half actually tweeted about that the day that had happened it was still going down at the time too and and I said I don’t care if it goes down another 2,000 this is a good spot to buy and I did and I honestly did not think I would be in profit for like at least another couple week well maybe not weeks maybe a week or two but I woke up the next morning I was in profit and I took something that was pretty cool I am a little bit interested in the hash rate they have that here yeah so this is kind of becoming a Bitcoin stream now so this is the hash rate history and you can see it’s pretty much done nothing but go up aside from the few times there was that kind of capitulation going on and I believe that was the coronavirus dump and we’re already pretty much back up to the levels we were before and it tends to go along with prices will so pretty well correlated although even during the bear market of 2018-2019 some of the 2019 the hashed rate continued to increase even though the price kind of went sideways or even down so to me that just indicates that people are investing more into mining Bitcoin so obviously long term I’m very bullish because people are putting a lot of money into this equipment into the electricity and they expect a return back on their money so why in the world would the hash rate be at all-time highs entering the halving okay why would people have increased the hash rate this much going into the halving well it’s because they still expect the price to go up as well eventually after the having to make up for all of the money they invested and it’s pretty cool to see that during 2019 even during the bear periods you know the the bearish trends that the hash rate on average can continue to go up that means people are investing even as the price goes down on their potential returns from Bitcoin binder revenue I haven’t looked at this chart before in sentences okay so this one plays heavily on the actual current price mm-hmm yeah that one is very similar to the current price chart because it’s based on the block rewards and the transaction fees and this chart is actually gonna be really interesting tomorrow maybe even later today but the revenue today is going to be halved if the price stays the same so there’s 19 million dollars in revenue per day as of today or oh that’s actually the 9th but there is 19 million dollars in revenue that day at that particular price now after the having there’s gonna be half the Bitcoin at the same price for miners to sell so their revenue is gonna be cut drastically it’s gonna be instead of 19 million it’s gonna be nine and a half million if the price stays the same because they just can’t get the same amount of rewards so where are we now we’ve still got some time if you’ll have any questions about indicators or anything like I kind of started the stream about just let me know there was I really know what I’m going to talk about I don’t know if I’m gonna be on here much longer honestly cuz I don’t have much more to talk about unless you all have something you want to talk about I don’t really have any development I want to do right now I do have another video that I want to get around to to recording later today today is my day off for my day job so I kind of get to work on my other projects all day what I’m not taking care of the kids and life that is and they were so nice to let me come down here do this today but I’m going to be releasing some software to help me capture some alerts from trading you it’s gonna be open source I’m not gonna have any executable releases immediately but it’s gonna be pretty cool I’ve been using it to generate alerts and forward alerts to like my discord and also on Twitter so essentially the the tool that I wrote allowed me to capture the alert from trading view and get this information from it and publish this on my discord server under a bottle Ertz section and then it also tweeted the exact same thing so that was really cool to have that happen I’m gonna be sharing that with everyone and let’s see you can actually see how I did it when you look at my alerts I wish I could expand this to show you more but essentially I’m using elements to pass data into the bot and when it picks up on the data in the elements it knows what to share so you can kind of get an idea here symbol I think it should be sym or pair something like that or ticker I think I updated it the ticker yeah I’ve actually changed this so the text will be different now but in the ticker element you put in the ticker variable and then when the alert spits out on social media you’ll see it so you can share your alerts with other people that way if you want to of course the trading view has their own stuff set up with their alerts and you can use web hooks and stuff to do all kinds of stuff but I’m actually trying to work to integrate a lot more social media other than just you know Twitter and discord and hopefully eventually maybe I can get it to trade as well I’m not too worried about that however it’s mainly just one of those projects I’d like to do for fun for myself and if other people see value in it that’s great but I do kind of plan on making it to where it’ll be able to accept flow so instead of capturing alerts from training view somebody could put it on plug-in to capture alerts from like yahoo finance or something or you know they could put in a plug-in to scan you know Twitter feeds for people peoples alerts there and also I’ll have it to where we can make plugins for the actual trading whenever it comes time for that which who knows if that’s even gonna happen so I’m kind of trying to wade out to see if we can be on here when the halving occurs but I really don’t think I’m gonna be on here much longer I’m probably gonna watch somebody else’s stream because they’ve got a bunch of people on there I’m probably gonna watch either the Tony phase or the day 2 – stream I know Tony bays is like 20 people on a zoom call there might be some streams here on trading – I’ll probably check those out first to see what the other people are doing but other than that I’ll probably just check out the ones on YouTube but thank you all for stopping by and viewing the stream hanging out for a little while I went for an hour it’s probably about what I expected I don’t really have much else to say if you’re watching this on like a replay or something please leave a comment if you had any ideas or suggestions or you know feedback on any of the stuff that we covered in the video and especially if you’re here now go ahead and do that and for those of you telling me thank you right now I appreciate it you’re very welcome I like to continue to do stuff and as always if you all have any new indicators you would like to see this stuff done or any new features just let me know and I’ll try to get around to doing it let’s get just pretty busy but I’ve got enough time to do some of these so hopefully we can get more of them done but other than that I appreciate all of you all stopping by and have a great day

YouTube Video Description

< br/> Today we’ll be discussing my “Fancy” indicators I have created and shared publicly for free on TradingView. They are robust and somewhat unique takes on popular existing indicators. They are designed specifically to ‘extend’ their functionality.