MarketGod Suggested Uses

Suggested Uses of the MarketGod Indicator as of January 3, 2021.

Suggested Uses for MarketGod v8

Summary

  • The Power Filter is an EMA look back period. Essentially, the user can adjust the filter to the timeframe 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 default

  • The Tool will send alerts that are IDENTICAL to your chart when the alert is set-up. This includes the timeframe, 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 timeframe 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 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

Market Specifications and Timeframe Recommendations

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 chop filter to use or version to prefer, we recommend the default preset chop filter and to use MarketGod v8.

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.

Example:

  • 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.

In Summary

  • 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 to reference 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, range is unlimited, 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.