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🐮 Bull Bear Filter 🐻 Chart Signals v1.0 by Cryptorhythms

🐮 Bull Bear Filter 🐻 Chart Signals v1.0 by Cryptorhythms

Introduction:

⏳The long awaited release of the stochastic chart signals is upon us! Thanks to all our members for waiting so patiently while we finalized this indicator. Without your support, suggestions, enthusiasm and help none of this would be possible. We owe it all to you guys!

Description:

🎯This indicator leverages the signals generated from Bull Bear Filter v1.4 and Bull Bear Filter Stochastic v1.0 indicators. We then combine with dynamic filtration and digital signal processing techniques for the final product.

❗Please remember BBF Signals is to be used for your analysis in conjunction with the BBF v1.4 or BBF Stoch indicators. These should be used in unison so you can view the waveform and the effect/s of different settings.

Features:

There are currently two signal sources to choose from (more coming soon). Stochastic and Double Stochastic . Neither is better/worse than the other, they both have their own strengths. Experiment with both and see which works better for you.

😴Double Stochastic will introduce some extra lag (between 1-3 bars depending on your k/d settings) but it also will denoise and smooth the waveform.

Here is the same range using the Stoch and Double Stoch signals with identical k/d settings for comparison...

Stochastic:

Double Stochastic:

The indicator can generate both long/short signals at the same time on the chart:


🏆BUT -- we recommend for optimal results to select either long OR short to display. If you display both on one chart, the algorithm will do its best to switch positions, but may miss some opportunities. You can use a split screen view placing longs on one and shorts on the other:


By comparing the combined versus separate charts you can see the circled trades below would have been missed using the combined option:

Missed 2 big shorts:
And these 2 longs:
This is why we highly suggest using the long and short signals separately.

🌈You can also select to color the chart candles based on the trade state:


😈The option for aggressive entries and exits, can assist on higher timeframes, where volatility is not moving the indicator. You can also use this on other timeframes as a safety feature. For instance if you are long but unsure about a dump, you can enable the aggressive exit option. This shows both agg entry and agg exit enabled for the current range:


🔔The alerts generated are great for scalping any market (forex, crypto, stocks, gold , oil , etc) on intraday timeframes. Default settings are optimized for XBTUSD . We recommend 15m-1hr as optimal timeframe with the default settings. For alts the timeframe will usually have to be increased to 1hr-12h depending on that coins volatility and price action.

🤖Alerts fully integrate with Gunbot (requires tradingview addon), 3commas, Haasbot, Autoview, Profitview, and any other automated trading system that can run off of email alerts.

Here are a few other XBTUSD Timeframes for reference on default settings...
1min (9-3-50 settings - all the rest are on default settings):
15min:
30min:
Here are a few other coins and markets for reference:

ETHUSD 1H:
AMD 1D:
💡There are literally a dozen+ features still being developed for the BBF family of indicators. These will roll out over the coming month and include many never before seen features and ideas!

👍 Enjoying this indicator or find it useful? Please give me a like and follow! I post crypto analysis, price action strategies and free indicators regularly.

💬 Questions? Comments? Want to get access to an entire suite of proven trading indicators? Come visit us on telegram and chat, or just soak up some knowledge. We make timely posts about the market, news, and strategy everyday. Our community isn't open only to subscribers - everyone is welcome to join.

For Trialers & Chat: https://t.me/cryptorhythms
Release Notes: In my haste to get the indicator out to subscribers I forgot to paste in the write-up about risk management options, and a few other points.

As you may or may not know, using TV's standard backtest with trailing stop will cause incorrect results (as does HA/Renko candles, MTF security calls, etc).

So alleviate this we tried to implement some "backtest" risk management options in for you guys. Averaging up/down is the only option enabled by default.

You can enable/disable and configure:

Static Stop Loss: Stop loss level that does not change. If reached the script will give a sell signal regardless of the waveform/indicator state.

Trailing Stop Loss: Stop loss level that trails the current price. If reached the script will give a sell signal regardless of the waveform/indicator state.

Take profit: Level at which the position is sold. If reached the script will give a sell signal regardless of the waveform/indicator state.

Trailing Take Profit: Activates after take profit level is reach and continues to trail price by set amount until it is hit. Allows you to capture extra profits if the market is still trending.

Average Up/Down: When price reaches this level (user defined) it will give you a signal on the chart to Average up/down the position.

Day/Night Mode: There's also the option for day/night mode to change some of the plot colors (was deemed secondary goal and will be updated/finished in a future update). Not all colors/plots have day/night conditionals setup yet, so it will only work for some things.

Display Help Overlay: Lastly there's the Help overlay which will plot on the chart some helpful tips and descriptions of whats everything means.

Release Notes: Edited Menu's and Input Options organization
Release Notes: Version 1.1 Changes:

New Features
1. Ability to modify OB/OS levels (which matter b/c of the next option below). Making the OB/OS zones more to the extreme (closer to 0 or 100) or towards the middle (i.e. 30 and 70), you can filter entries/exits.
2. Choose between K/D or OB/OS crossovers for entry/exit points. "K/D" is better for higher TF's and Single Stoch, "OB/OS" is better for Lower TF's and double stoch.
3. Trendbar - Aiming to give clarification on general trend direction. The higher timeframe you are on the more accurate it is. But even on low TF its still excellent. I aimed for fast response to trend changes, while still maintaining the long term trend identification (i.e. not flip flopping alot).
4. Filtration - Updates to Aggressive Entry/Exit. Completely redid double stoch. (behind the scenes nothing you can adjust).

Bug Fixes
1. BBF based Exit signal would not fire if you enabled risk managment options (fixed).
2. Made Alert Condition Descriptions more obvious so its easier to know what to pick for setting alerts up.
3. Deleted some plots and renamed some plots to make things more clear for alerts setup.

Much more to come!
We should be releasing a new update (v1.2) within 2 weeks or so. This will include many new cool features, so stay tuned :)
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