@Chuck Thank you for so much for such a fascinating indicator, I am currently doing some backtesting combining the B4 indicator with the Consensus candles created by
@Christopher84 and its incredible how accurate both of them are when used in tandem for entries and exits
I did have a question and I was hoping you could perhaps help me clarify some questions I had about the labels (I apologize if this was answered in the thread before, I did skim through all the pages of the thread but chances are I might have missed it).
Coming to the question and taking yesterday's TSLA's chart
The market forecast is bearish but the trend is Bullish and there is a bullish divergence. The Dotted MACDBB is also above the top BB band and green, is this supposed to imply there might be a potential reversal here. I also noticed a yellow cloud between the BB bands and going by one of your points in your first post
I also noticed that the bands are kind of narrow and with the Dotted MACDBB line above the BB lines, this also ties in with another point in the first post in this thread
So looking at all of this would you assume that there is a potential reversal possibility here. Obviously how TSLA behaves on Monday would be determined by the broader markets as well but I am trying to understand the labels here better.
Even this next chart of the infamous GME has a similar setup as per the B4 indicator though the indicators in consensus candles seem to be negative about it and the overall channel trend is red which gives me pause
Would love to hear your thoughts on this.
@Christopher84 not sure you check this thread but if you do, I would love to hear your thoughts as well.
Have a great long weekend.
Thanks.