Official Release Notes for our Most Powerful Tool Yet
Overview + v7 Summary
MarketGod v7 enters the market with a slightly different, simple, approach, ultimately reaching a yet more advanced and customizable level than before.
In previous versions, the buys and sells comprised of several working parts in sync, delivering a Buy/Sell perspective that had typically strong results. All versions have come to be mainly indicator buy/sell based, and v6 was the first to really include averages with price movement – EMAs, SMAs, HullMAs, each still using an indicator based lead component to decide the confirmation of the Buys/Sells. That said, v7 brings a new aspect into play that wasn’t used prior – price movement itself.
Here’s a breakdown of the overall tool, how to access, and suggested uses for the v7 update
Breakdown & Components
- Updated from v2 Pinescript to v4
- Buy & Sell Accuracy – involves movement by price, not compiled indicators (v1-v5) // SMAs (v6)
- Buy & Sell Chop Filter Settings
- See our updated suggested uses for tips and tricks
- Added Auto-Fibs and visuals
- Corrected Standard HL Pivots (failed functionality of v6.4)
- Added Options for Labeling the signals. Options include a “ ” Emoji, the “+/-“, and the standard “Buy/Sell”
- Updated Guppy Settings — > needed less visuals per TV’s Consent so these will not be as expansive as they were prior.
- Changed BBands to Logarithmic Bbands
- Removes the ‘disappearing Band” problem that TV has with standard BBands
- Added Keltner Fill between the Kelt bands
- Comprehensive knowledge base added to website. Growing repository of content and guides
- Fixed v7 Strategy to be published. Enabling time – period specific testing
- Bug fixed the Ichimoku visual and input problem present in v6’s
As mentioned in other notes, our trading tool v7 incorporates a new aspect to the tool that we haven’t in other version, which is the ability to change the buy & sell signals, via a noise filter. You can find this filter in the settings panel of the chart, accessed by clicking the round ‘pin wheel’ next to each indicator on the chart, respectively.
When it comes to filtering the noise of our tool – we use a scale of 1-30, which comprises different settings for the tool and therefore different levels of buys and sells for users, to customize the tool directly to their preferred markets and tickers. Right off the bat, this accomplishes a couple of things
- Elimination of “same trade’ fears that some users have, due to our expansive user base, which is quickly approaching 1000 total users of the tool.
- If one setting on one chart works, it doesn’t guarantee a different timeframe or even ticker will have the same results – virtually, you can customize it to your preference
The Power Filter has no set guidelines on which works best. During testing, our results found that specifically on BTCUSD, any range of 2-12 were very effective on normal candles, ranging from the 1m-1D, usually even being incredibly accurate through the high frames as well, including the 3D, 1w, 2w & 1M
That said, normal candles or heikin ashi, ultimately depend on the user of the tool, and their preference. For tickers that have a ton of gaps to fill and move around (ie the SPX, SPY), Heikin Ashi is recommended and will have incredible results on the 1m-1h levels. Traders are encouraged to share their success with us, as well as providing feedback on indicator functionality.
Keep in mind, we can apply to this tool to any market available on tradingview, and likely find a setting that covers essentially every swing trade in a given period. As usual, our suggestion is to also use other indicators / your own style of trading to also make decisions, as the last thing we’d like is for this to be relied on as a standalone tool, unless you understand the risks associated with any financial trade.
In addition, when indicator provides chop on any level of time-frame, it is typically associated with a consolidation period, in which the price is consolidating together after a period of volatility / explosive movement to a given direction. While we aim to cut the chop down in this version, there will likely be timeframes or tickers that have more of a challenge than the others.
In the event you are having a challenge identifying which setting for the power filter to use, we recommend the default 10, or 12, on the BTCUSD daily, in Heikin Ashi inputs.
Once a signal fires, and you see the given alert painted on the chart, we recommend making a decision on whether to enter a trade or not. The MarketGod team has found in our experience that the lower timeframes, less than 1-hour, usually should confirm before we make a trade. For the higher frames however, a signal is typically confirmed when it appears in real time. Regardless, we urge traders to understand any scenario before entering a trade, and to realize they ultimately have final say on a buy or sell decision.
It is critical to understand the the alerts from HIGH TIME FRAMES WILL ALWAYS WIN when compared to low frame alerts
Examples on TF reference from above …deciding based on your current TF –>
- You are using the 1-minute chart & a signal appears. We recommend you allow that candle to close & confirm the trade, before confirming the alert.
- You are using the 1-month chart & a signal appears. It is likely a big enough move inbound, to make the decision to trade the chart in real time.
Another Note as well – HIGH TIME FRAMES WILL ALWAYS WIN. In the event you have a situation in which you are seeing one frame give you a contrasting opinion to another frame, check the length of time frame and listen to the high frame. For Example, If you are using the chart and the 1D gives you a sell at the same time the 1week gives you a ‘buy’, we highly recommend to listen to the higher time frame.
Highlights / Summary
- Use Heikin Ashi Candles
- Adjust filter to preference, range is from 1-30
- Tool was designed using the BTCUSD BitStamp inputs
- Be Aware of the Time-Frame (TF) you are using when reading the trades
- Clear your chart of other MarketGod related alerts, from previous versions, when adding the tool for the first time. Be aware that any ghost alerts that occur could also be related to Heikin Ashi charts vs Normal charts, and the state of your chart when the alerts were set initially
- Use the high TF signals over the low TF signals to see the highest amount of success possible
Adding our chart overlay to your tradingview chart is a relatively simple process. If struggling to add the tool, please read the article thoroughly to discover the error.
Start on Tradingview.com/chartin your preferred browser
At the top of your chart, find the ‘indicators + strategies’ button. This will take you to the indicator library. Normally, you will find this on the middle-right of the top panel.
Once in the indicator library, locate the search box on the top left of the panel. Search “MarketGod” (One-word).
Once you have typed in “MarketGod” into the search box, several results may appear. The one/s you are looking to add are published by our Tradingview Account, TVMarketGod. For the V7 Release, you will be added to the “MarketGod v7” Indicator labeled here.