Bitcoin Forum

I follow people doing cryprocurrencie TA on twitter and tradingview. There are a few people there using "magic "boxes to set a target and most of the time it's quite accurate. It's mostly used for altcoin TA.

Example: https://twitter.com/Crypto_Ed_NL/status/912208688739442688

Anyone know what those blue boxes are called?  I want to learn TA myself but could not find anything about targetboxes.

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I might be missing some amazing strategy but from the example you gave me it looks like they're using standard indicators and a method of retracement called trend line prediction.

what is a standard indicator?

well this could be construed as a lot of things but in my opinion is standard indicator is any pre-packaged indicator formula or script that is already released for public consumption and requires little to no tweaking to work out of the box other than optimization of its parameters for the specific currency you're working with.

a lot of the most professional traders in the world stick to a single or just a few indicators and work with trend lines, but in terms of what is a "magic box" ?

I've never actually heard this term used in the industry but then again I am an amateur Trader and not privy to the secrets of the larger industry, but I would venture to Guess that it's some sort of reference to an indicator like one of Bill Williams or similar systems that are designed to draw predictive boxes and or histograms on the screen for you.