We are adding daily and 4-hourly BULL and BEAR signals from our new indicator the Hive.
Past performance and charts
Daily timeframe signals are more rare than 4H ones.
HIVE Bear daily signals
In the past year there were only 2 but they were both accurate.
There’s been up to 6 bear daily signals in a single year in the past.
The only time when the signals were wrong was during the pump of beginning of 2021. At this point no technical indicators was accurate: all of them were flagging a top and the top took months to happen.
This is important to take in consideration whenever we use indicator to guide our decisions. They all have a range where they are valid, and outside that they become almost useless. And I insist that affects ALL indicators.
HIVE Bear 4H signals
4H bear signals seem to perform really great during a daily downtrend and they can flag pretty accurately the local tops before a new drop in price. You can see that effect during the past months in the chart.
HIVE Bull daily signals
The daily bull signals, in the way I have them configured are extremely rare. In fact there has been only one signal in the past year that triggered a few weeks before resuming the uptrend in mid 2021.
HIVE Bull 4H signals
The 4H bull signals are more frequent and we can see in the chart that 4 out 5 were accurate.
The signal that triggers half way while the price is collapsing in May 2021 can be considered a false positive but luckily it still gets filled in a few months after.
Conclusions
I think that all indicators need to be interpreted as part of a toolset and any tool will have strengths and limitations. It’s our responsibility to understand both of them and never trust a single one to make a decision.
I think the hive gives me a good level of confidence if used in conjunction with other indicators like market cipher, RSI, MACD, etc.
Who can access the HIVE?
All members and patrons can access this indicator by providing your tradingview username in the account details page and wait 24hrs for the system to process the request.
Once you have joined our discord server and connected it to Patreon or our website you can also access it’s alerts from Discord. Check next section for details.
Where can I find them and get notified?
The indicators will show in the #indicator-signals channel on Discord.
Make sure you have notifications enabled for this channel.
