How it works
Trend is your friend
Cross-X strategy is designed to help you identify trends as early as possible and exit the market before they reverse. Both the closing price, momentum, volume, volatility, strength of a trend, ATR and PSAR with some additional logic provide a wealth of information that can be used to identify the ebb and flow of the trend.
The bigger the timeframe, the stronger the trend
As a rule, the bigger the timeframe, the stronger the trend. For this reason, trend trading is much more powerful and yields better returns if it takes place on bigger time frames. So we would recommend to use CrossX indicator on higher timeframe.
You should wait until a candle closes before entering.
A signal is confirmed only once the candle is closed. Meaning a signal could appear on your chart but is not confirmed until that candle is closed and the next candle has started. So, you need to wait the candle to close for the signal to be valid.
Start using it
The main features of CrossX are buy/sell signals, take some profit (TSP), crossX cloud and candlestick coloring. It is calculated based on closing price, momentum, volume, volatility, strength of a trend, ATR and PSAR with some additional logic.
Buy signal (buy tag and green candle) appear when market is in a new uptrend. Represents an entry/buy in. You need to wait the candle to close for the signal to be valid and taking a signal.
Sell signal (Sell tag and red candle) appear when market is in a reversal, sideways or downtrend. Represents an exit/sell. You need to wait the candle to close for the signal to be valid and taking a signal.
This strategy is ideally used for trend following traders on higher timeframes such as 12H, 1D, 2D, 3D, 1W. Trend trading is usually considered a mid to long-term trading strategy. CrossX is which will identify a trend and traders will ride a trend from start to finish, ignoring day-to-day fluctuations.
CrossX works on any market including cryptocurrency (recommend bitcoin), stocks, indices, futures and commodities (not recommended for forex). And it works on all timeframes but it has the best performance on higher time frame.
You can use the VDO below to see that how does it works? and How to access and set up indicator?
The CrossX Pro V.3 settings are described below
- Strength of trend: Determine trend strength, calculations are based on momentum of price. This is a consistent parameter therefore you do not change it.
- Volatility: Volatility is the trading volume and frequency of price changes. This is a consistent parameter therefore you do not change it.
You can adjust Input parameters however you find best. The default which generally have a great performance across every market but trading is very personal per asset and timeframe.
- Fix to timeframe or multiple time frame: Multi-timeframe analysis (MTF) is a process in which traders can view multiple timeframes at once on a single chart. Multi-timeframe analysis is the process of looking at multiple timeframes at once and using them to make better decisions when trading or investing. You can have several timeframes visible at once so you always know the most important price levels. For CrossX indicator, 3 day time frame have the best performance. You don’t need to set up the indicator time frame same as your chart. For example, if you set 3 day time frame in the indicator, regardless of what time frame your chart is, you will receive a signal from 3 day time frame and if you set “fix to timeframe” option to “same as chart”, you will receive the signal from the chart time frame. Note: Refrain from using the indicator (fix to timeframe option) at smaller timeframes than the chart’s. Complete details click here. https://www.tradingview.com/chart/TLT/gfhcvho3-How-to-Use-Multi-Timeframe-Analysis-and-What-It-Means/
- Smoothness: It is the level of smoothness of the buy/sell signal.
- Sensitivity: It can be adjusted for decreasing or increasing the amount of signals on your chart. The lower the sensitivity the less signals appear. 8 is the default setting, the default which generally have a great performance across every market.
- Noise: It can be adjusted for reducing noise. Behaving like a subset of sensitivity. The lower the value the less noise appear. 555 is the default setting, the default which generally have a great performance across every market.
It helps to identify bear and bull markets. Calculations are based on 18 weekly MA, EMA and WMA. If the price is above the cloud, indicating that it is a bull market. If the price is below the cloud Indicates a bear market.
Take Some Profit
When the price reaches a significant price level it will show the take some profit (TSP) signal. It can appear more than one TSP signal at a time during a trade.
– When the red candle (after sell signal) appear a TSP signal, indicating that there is a chance to reverse into an uptrend and you may have to take some profit (TSP) from short/sell position (if you open short position).
– When the green candle (after buy signal) appear a TSP signal, indicating that there is a chance to reverse into a downtrend and you may have to take some profit (TSP) from long/buy position.
Please note that the default setting which generally have a great performance across every market.
How to set up alerts
Alerts for crossX indicator do depend on the time intervals because it’s taken into account when calculating indicators. If the indicator parameter is changed after the alert is created, then the alert will be triggered using the old settings.
Alert actions: Use the following options to be notified when your alerts are triggered:
- Notify on App
- Show Pop-up
- Send Email
- Webhook URL
- Play Sound
- Send Email-to-SMS
Complete information about alerts click here and you can use the VDO below to see that how to set up alerts?