8Bit BTC Long and Short Indicator — Strategy by joshuavegahawkins
By joshuavegahawkins
Performance Metrics
- Author: joshuavegahawkins
- Symbol: BITSTAMP:BTCUSD
- Timeframe: 1 hour
- Net P&L: +312.42 USD (+3.12%)
- Win Rate: 42.0%
- Profit Factor: 1.142
- Max Drawdown: 521.82 USD (4.99%)
- Total Trades: 138
Description
How It WorksThe script identifies three distinct entry types, each color coded so you always know what triggered the signal:🟢 Lime = Structure Signal (BOS)The highest conviction entry. Price sweeps a key high or low (triggering stop losses), reverses with a strong candle (CHoCH), then breaks structure in the new direction (BOS). Requires Supertrend alignment, ADX trend strength, and above-average volume to confirm.🔵 Aqua = Divergence SignalCatches tops and bottoms that the structure method misses. Fires when RSI diverges from price action near a key swing level AND a reversal candle pattern (engulfing or hammer/shooting star) confirms the turn.🟡 Yellow = Supertrend FlipEarly trend change signal. Fires the moment the Supertrend indicator flips direction with above-average volume and trend strength confirmed by ADX.Built-In FiltersSupertrend direction must agree with trade directionADX minimum threshold filters out choppy, low-momentum marketsRanging market detection blocks signals when price is stuck sidewaysStale setup cancellation — setups auto-expire after 15 bars if not confirmedStop losses anchored to the liquidity sweep level for precise placementWhat You See On The ChartColored triangle arrows with LONG/SHORT labels at every signalSupertrend line (green below price = uptrend, red above = downtrend)EMA 200 as macro trend referenceYellow background = ranging market, no trades recommendedRecommended SettingsTimeframe: 1H or 4H for best results on Bitcoin and major crypto pairsWorks on any liquid market (forex, indices, crypto)All parameters fully adjustable in the settings panelRisk DisclaimerThis indicator is a technical analysis tool only. It does not constitute financial advice. All signals should be used alongside proper risk management. Past performance does not guarantee future results. Never risk more than you can afford to lose.