What's Included
We've ensured our Crypto Tipster Indicator is as easy to use as possible, but we understand new tools can be confusing and initially intimidating - check out some of the features we offer below to break things down step-by-step.
Crypto Tipster v2 Indicator
Joining theCrypster is easy, no credit card or registration is even required to get started with Crypto Tipster v2 Indicator. Offering a complete package to help you make important trading decisions for Bitcoin, Ethereum, XRP, Doge or a host of other cryptocurrencies & markets.
We've developed Crypto Tipster to excel with blockchain derivatives such as BTCUSD, ETHUSD and BTCETH (to name just a few) on longer timeframes such as Daily or 2D - we've found these to be the most consistently predictable and profitable, but there are literally thousands of markets and timeframes to choose from!
Chart Settings
The first section you'll come across, Chart Settings.
Here you'll find a few options regarding how your chosen market chart will look within TradingView and how Crypto Tipster will interact with this chart.
One of the most important Tick boxes is first on the list - "Show Backtest Results". This will change Crypto Tipster from displaying simple but easy-to-follow "Buy/Sell" labels into Strategy mode in which you can set up more complicated Stop Loss / Take profit settings as well as setting up Alerts for auto trading and other more complex functions (see How It Works for more info!
We've also included a "Trend Strength Bar Color" tick box which changes the color of the chart bars based on how strong Crypto Tipster is perceiving the current trend and in which direction.
Trend Settings
"Trading Frequency" represents how often Crypto Tipster will be looking for a new trend / change in trend direction, and therefore how often it will be placing trades. By default this is set to "Normal" but can be changed to "Rapid" using the drop down menu.
"Entry Trend Strength" also determines how frequently trades are placed by selecting the strength of trend required before a trade is placed. The scale ranges from "1-5", with 1 being a low trend strength required, 5 being a very strong trend strength required.
Within the Trend Settings section you'll also find an "Avg Trend Strength over [x] Bars" option. This allows you to average (mean) the current trend strength over a pre-determined amount (1-5) of previous chart bars - thus providing a potentially more consistent signal.
Trade Settings
Trade Settings help Crypto Tipster determine what type of trades you're looking to place.
The overall "Trade Direction" will decide to either target only Long trades, only Short trades, or Both (default).
"Consecutive Trades in Same Direction" allows for pyramiding - whereby you can specify to allow for multiple trades of the same direction. Set to "1" as default allows for no extra pyramiding, max setting of "10".
Trade Protection
Currently consisting of two functions, our Trade Protection section can help to achieve both the removal of false signals (whipsaws), and the extension of good trades without confusion during minor retracements.
"Chop Removal" can help to remove some whipsaw trades during ranging market conditions, therefore improving overal profitability by only targeting stronger trends. You have an option to choose from either "Weak" or "Strong" Chop Removal.
"Protection Filter" uses current trading criteria as defined by you, and uses it to check against a higher time frame than you're currently viewing. This can help to eliminate some bad trades at the expense of a potential lag on good trades.
Stop Loss / Take Profit
Stop Losses should be a crucial aspect of everyone's trading system. They help prevent any trade from going too far in the wrong direction and limit losses.
Our "Stop Loss (%)" is quick and easy to set up, simply set the percentage offset from the entry price of trades and a fixed Stop Loss will be in place on all trades.
"Take Profit (%)" works in the same way as the Stop Loss mentioned above - simply set the percentage you'd like to exit a profitable trade at.
The "Trailing Stop (%)" is a little more complicated in that it will follow the trend of the trade a certain percentage away from the current market price - this is great for keeping yourself in a trade for as long as the trade is moving in the right direction.
Extra Tools & Indicators
This is the section of Crypto Tipster that enables you to add some chart visuals to assist you with your preferred trading style.
"Potential Pivot Points" are not the same as actual pivot points - Potential pivot points will paint on the chart at bar close, giving you an immediate alert to potential tops/bottoms of market trends. You can choose to display only the strongest potential points, or include some of the weaker signals too.
"Actual Pivot Points" are inherintly more accurate than Potential pivot points, but do not paint on the chart until after a pre-determined amount of time has passed. These are great for placing stop losses/take profits or watching the market for breakouts or reversals.
"Support/Resistance Levels" plots up to 6 support and resistance horizontal lines based on recent price tops/bottoms. Use these to determine areas where price could rebound or break-through.
"Bollinger Band Breakout" - Bollinger bands are a tried and tested technical analysis tool, similar to pivot points and support/resistance lines, thee are another great tool to determine where price may retrace, consolidate or breakout.
Ichimoku Cloud
Somewhat confusing and intimidating when you first come across this technical analysis indicator, the "Ichimoku Cloud" is one of our favorites. Assisting with the detection of Dynamic Support and Resistance levels, Momentum and Trend Direction all in one super indicator.
Although certain aspects of the Ichimoku Cloud are already present within Crypto Tipster v2 algorithms in order to offer you the best possible signals, we've also included a user-definable section of it's own so you can manually set up and use the cloud for your own trading needs, all cloud signals (and there are many) are available to set up as Alerts for your own needs or an Auto-Trading Bot.
Custom Alerts for any Signal
We've endeavoured to ensure that all signals, not just the Buy/Sell signals, are ready and available to create Alerts with; giving you the most opportunity to create a fully custom trading engine that suits your exact trading requirements.
This means you can set Alerts for any and all signals you can see on the chart when using Crypto Tipster v2, this includes Buy/Sell Signals, Trend Strength Signals, Choppy Market Signals, Stop Loss/Take Profit Signals, Pivot Points, S/R levels crossed above & below, Bollinger Band Breakout and several Ichimoku Cloud Signals.. the list goes on!