I made a change to the psychological line I made before. The 4-hour and the 1-hour line are shown with the psychological. Strategy If the 4-hour psychological is above red line( 70 per cent) and the 1-hour psychological is lower than the previous hour's psychological, go short. The opposite is true for longs. you can change the number 70 above on the parameter...
Thought it would be interesting to look into psychological barriers (round numbers) denominated in foreign currencies and see where those barriers show up on a USD chart. I did a couple of quick and superficial Internet searches to get an idea of which USD pairs are being used the most to trade Bitcoin. My conclusion is that the most relevant currencies are the...
Psychological line (PSY), as an indicator, is the ratio of the number of rising periods over the total number of periods. It reflects the buying power in relation to the selling power. If PSY is above 50%, it indicates that buyers are in control. Likewise, if it is below 50%, it indicates the sellers are in control. If the PSY moves along the 50% area,...