Someone on tradingview gave me access to a indicator that uncovers signs of institutional buyers. And i can confirm that it works very well in most cases. You can see the box under the chart with that line that turns green and orange. If this line turns green thats a buy signal. In the rare case it runs orange thats a strong buy signal. The indicator is meant to be used on the daily chart. So what did I discover?
From all the top 30 coins on coinmarketcap that indicator shows the strongest buy signal for BTG. My rule of thumb is to buy low and set the target for my trade to the price level where the indicator turned green the last time and where the price didn’t reach yet. The reasoning behind that is that a institutional buyer would like to see his money back and has the means to drive the price back up to where he started buying. anyway this rule of thumb worked quite well for other charts. I marked two price levels that make sense as a target for a trade.
For comparisson a examples for XLM. As a new user I can unfortiunatley only share 1 more link, so I chose one which looks more like most of the coins and illustrates my point. For this I chose BitShares:
The used script is private and I can’t share it with you as I’m not the creator. I just wanted to leave this here as a hint for fellow traders and to show my love for BTG