MarketGod Suggested Uses
Suggested Uses of the MarketGod Indicator as of February 2021
- The Power Filter is an EMA look back period. Essentially, the user can adjust the filter to the time-frame they are on. The higher the power filter, the higher the EMA AKA LESS Frequency of Alerts.
- Adjust filter to preference OR simply uncheck the toggle button to use the default
- The tool will send alerts that are IDENTICAL to your chart when the alert is set-up. This includes the time-frame, the input/chart type, the MarketGod version, the value of the chop filter, ETC.
- 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.
- If one setting on one chart works, it doesn’t guarantee a different time-frame or even ticker will have the same results – virtually. You can customize it to your preference.
The Chop Filter has no set guidelines on which works best. During testing, our results found that specifically on BTCUSD, any range of 2-31 was 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.
Keep in mind, we can apply 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 the 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 time-frames or tickers that have more of a challenge than the others.
In the event, you are having a challenge identifying which set for the chop filter to use or version to prefer, we recommend the default preset chop filter and to use MarketGod v8.
Once a signal fire 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 time-frames, 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 the final say on a buy or sell decision.
- 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.
- MarketGod can be used on any chart available on Tradingview.com.
- We built the tool on Crypto Markets, but FOREX, Equities, OTC, Indexes, Funds, and more can be traded with the MarketGod Indicator.
- Higher TF’s above 15 mins are recommended.
- Specifically the 30m, 1h, 4h, 6h, 12h, 1D, 3D, 1W, 2W, 1M, etc.
- The 1 & 5 mins can be used, although we recommend referencing the higher frames before following the alerts on those levels to remove false positives in chop.
- Users can use Heikin Ashi or Normal Candles with MarketGod. But we recommend Normal Candles for the Backtest for more accurate results.
- Adjust filter to preference, the range is unlimited, and the minimum value is 1.
- Be Aware of the Time-Frame (TF) you are using when reading the trades. Macro Time-Frames ALWAYS win (General rule of thumb)
- 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.