BTC iCOT signals on Bitcoin Yes ; iCOT will give some wrong signals but it will help you to manage risk and get out early : Cut Losses and Run Winners.
Not convincing at all.... most pictures you present in your post showcase wrong signals; the last one for example has 2 red vertical bars and up ward price action.
yes of course ! no holy grail. it will give wrong signals ALWAYS.
The idea is to manage your risk and I find that iCOT helped me to getter much better entries and much better risk/reward.
Again - your experience in chart reading is a must. iCOT will help you to have more risk/reward control.
Repeated failures in iCOT (multiples failures red strips) meaning the least resistance path is up : breakout is coming ? Watch $MARA : it is a bitcoin stock.
The strongest signals are the green and red vertical stripes (green = buy signals, red = sell signals).
Blue bars and the little yellow diamonds above and below the price are also sell/buy signals, but not as strong as the stripes. In special occasions, when consecutive stripe signals are observed, the escalation of the current trend is likely. Buy/sell signals are confirmed once the signal bar's low (in case of sell signal) or high (in case of buy signal) is broken. iCOT REVERSE-ENGINEERED COT DATA AND CREATED iCOT INTRADAY INDICATOR!
You can use the iCOT indicator on any chart type (eg. candlesticks, bar charts, renko, range bars, etc.) and time-frames (eg. 1-min, 5-min, 1-hr, 4-hr, etc.).
iCOT indicator created by reverse engineering COT data. it is short term COT tool where extremes commercial/speculators divergence means short term trades.
iCOT indicator created by reverse engineering COT data. it is short term COT tool where extremes commercial/speculators divergence means short term trades.