75 Cygni
Calibrated for 15-min/30-min timeframes
š· OVERVIEW Cygni 75 Algorithm is a TradingView indicator crafted to refine your market analysis and assist in identifying potential entry and exit points by analyzing the underlying volume behind market movements. It helps you determine the overall daily context of the market and its conditions/trends by offering a suite of features tailored to provide insights to traders across various market conditions. š· KEY FEATURES ā Candle Coloring ā Deviation Bands ā Momentum Bar | on the bottom of the chart ā Area of Interest (AOI) | Yellow rectangle š· HOW DOES IT WORK? ā” Candles will color in reference to the dominance of buyers or sellers based on underlying volume calculated by a proprietary formula. The green color indicates that buyers are in control, and the red color indicates the selling volume is dominating the market. To simplify, green means there's more buying - red means there's more selling. ā” Deviation bands are used to determine potential trade entries and exits, derived by average price weighted by volume. ā” Momentum Bar shows market momentum by analyzing the differences between multiple moving averages. Green is bullish; red is bearish. The colors will lighten up when momentum is strong, and once the market slows down, they will get darker. ā” Area of Interest (AOI) is used for contextual reference, derived from the previous day's market movements. They remain static throughout the current day. š· HOW TO USE IT? ā” In general, we look for areas where all components are in sync. This are valid trading signals (refer to the usage example below). ā” Candle Colors: Looking for longs when the candles are green, and looking for shorts when the colors are red ā” Deviation Bands: Once we enter the trade, we can place the SL and TP levels at the closest bands. ā” Momentum Bar: Helps with the timing of the entry, looking to enter on light Green/Red colors. Longs when green and shorts when red. ā” Area Of Interest: Generally, we're expecting rotational conditions inside the area and breakouts above/below once the market price gets outside of it. Longs above the area and shorts below the area for breakouts. š· COMBINING THE COMPONENTS Each component of the indicator serves it's own purpose and analyzes the market from it's own perspective and with its own custom settings and formulas (one looks at trading direction from the perspective of the overall trend and the other looks at price volatility to measure momentum - different perspectives). The calculation of the individual component is done independently from other components. Once all of them align we're able to execute trades with edge as it signals that different aspects of volume and price analysis line up for the trading opportinity. - Candle Colors are used for determining trading direction - Deviation bands are used for determining TP/SL levels - Momentum bar is used to for better timing of your entries/exits. - AOI is used to help you determine potential market conditions It's important to combine the components to increase the probability of success - here's how you should look for a trade: 1. Determine the direction you want to trade in with the help of Candle Colors 2. Assess the current market price in reference to AOI - look for longs if the price is above the AOI, shorts if the price is below AOI, and rotations if it's inside the AOI. 3. Wait for the right momentum to develop to improve the timing of the entry by using Momentum Bar. 4. Place TP/SL levels with the help of Deviation bands based on your risk appetite. A valid example of the trade would be: - Green Candle Colors (indicating longs) - Market price is currently above the AOI or breaking the edge of AOI in the upside movement (indicating longs) - Momentum Bar is Green (indicating long momentum) - Placing SL to the closest Deviation Band below the price and TP to the closest Deviation Band above the price.
š USAGE EXAMPLES
Last updated
