BirbicatorPRO Dashboard

Included within this section are descriptions of the BirbicatorPRO's Dashboard and how it may be applied to varying types of traders.

The BirbicatorPRO Dashboard

The BirbicatorPRO Dashboard provides users with a range of information that provides near-term situational context of how price is developing. It also provides a summary view of calculations that are used to generate signals within the BirbicatorPRO system.

Birbicator Trend Strength

BirbicatorPRO is based on a number of internal components that are used to classify the strength of a trend based on a range of indicators and metrics. As a result, the BirbicatorPRO Dashboard provides an "Index" score of these components to signify the number of components are Bullish or Bearish.

The BirbicatorPRO Trend Strength Oscillator Bar is the primary component of the dashboard. This oscillator shows the strength of the the assets trend given the selectable options within the BirbicatorPRO's menu and the price action that is currently taking place.

As price rises against the BaseLine, the Birbicator Trend Strength Oscillator will rise to show that the trend is increasing in power. In reverse, as price falls against the BaseLine, the Birbicator Trend Strength Oscillator will fall to show that the trend is decreasing in power.

As there are 9 dedicated components of the BirbicatorPRO, the Trend Strength bar maximum is nine (9) black bars.

The following code example demonstrates how the bar is calculated by BirbicatorPRO:

if trend_total == 9 or trend_total == -9
"██████████"
else if trend_total == 8 or trend_total == -8
"█████████"
else if trend_total == 7 or trend_total == -7
"████████"
else if trend_total == 6 or trend_total == -6
"███████"
else if trend_total == 5 or trend_total == -5
"██████"
else if trend_total == 4 or trend_total == -4
"█████"
else if trend_total == 3 or trend_total == -3
"████"
else if trend_total == 2 or trend_total == -2
"███"
else if trend_total == 1 or trend_total == -1
"█"
else
""

It can be assumed that the BirbicatorPRO's Trend Strength Oscillator is a less volatile indicator compared with the "Index Trend Strength" value that is also incorporated within the BirbicatorPRO system, yet can be a leading indicator for BirbicatorPRO's signal system.

In general, as the Trend Strength Oscillator is rising from candle to candle, the trend is increasing to a maximum value of 9. As the oscillator is falling from candle to candle, the trend is decreasing to a minimum value of negative 9. Standard principles apply for utilizing the Trend Strength Oscillator that are similar to other oscillator based indicators such as Stochastics or Relative Strength Index (RSI). At the extremes of the oscillator scale we can expect price to be in an "Overbought" or "Oversold" condition.

NOTE: When the Trend Strength Oscillator has defined the trend as neutral, it will present a value of " -- ", which denotes that the current candle is calculated to be a 0 on the +9 to -9 scale.

Neutral Trend Strength Oscillator

Index Trend Strength

BirbicatorPRO incorporates several base indicators used by a majority of traders as a way to measure divergences as part of the BirbicatorPRO Divergence System. The components of the Divergence System can be found within the "Divergence System" section.

The Divergence System is based on 10 well-known indicators:

  • Relative Strength Index (RSI)

  • Money Flow Index (MFI)

  • MACD

  • Momentum

  • Commodity Channel Index (CCI)

  • On-Balance Volume (OBV)

  • Stochastics (STOCH)

  • Volume Weighted Moving Average (VWMA)

  • Chaikin Money Flow (CMF)

  • Directional Movement (DM)

While divergences can be calculated for each of these indicators, BirbicatorPRO also provides a unified read-out of the momentum associated with an "Index" of these combined indicators.

The same bar read-out is used to demonstrate the "Index Trend Strength" score associated with the rising and falling of the combined "Bull" or "Bear" score of the 10 indicators above.

Taking the Birbicator Trend Strength and Index Trend Strength as readouts of local price action can provide situational awareness for quick action trades and provide greater context for determining reversals.

RSI || OBV || STOCH

BirbicatorPRO's dashboard integrates three (3) common indicators that normally clutter user's trading terminals, yet are powerful when taking into confluence with trend indicators like BirbicatorPRO.

Relative Strength Index (RSI)

Relative Strength Index (RSI), is a widely used momentum indicator that measures the magnitude of recent price changes to evaluate overbought or oversold conditions in the price of a stock or other asset. The RSI is displayed as an oscillator (a line graph that moves between two extremes) and can have a reading from 0 to 100.

Typically, when price rises continually over a period of 14 bars (default setting) the RSI rises to a point where a value of greater than 70 is considered to be "overbought." Conversely, when price falls continually over a period of 14 bars, the RSI falls to a point where a value of less than 30 is considered to be "oversold."

The BirbicatorPRO dashboard will provide the RSI value of the current chart timeframe to provide contextual awareness of the indicator directly, but also inform the user about this common indicator that many traders rely on, which may be beneficial in planning trades.

BirbicatorPRO's Price Bands integrate RSI Overbought and Oversold conditions by shading upper and lower bands when the RSI has crossed these levels. This further provides contextual awareness for the dashboard value and allows a user to track the movement of RSI from candle to candle and relying on the Price Bands to remind user's of these conditions without having to run a separate RSI indicator on the chart. More information about this setting can be found within the Price Bands page.

RSI Indicator Paired with BirbicatorPRO

On-Balance Volume (OBV)

On-Balance Volume (OBV), is another widely used momentum indicator that uses volume flow to predict changes in stock price. BirbicatorPRO's OBV value is constructed as an oscillator to identify positive and negative variance of OBV over a period of time, instead of the typical momentum style that is customary on traditional OBV indicators. OBV can be very powerful in terms of context as it directly correlates to the positive or negative change in volume pressure, a measure which can be a leading indicator for other momentum or reversion based indicators that are inherently lag price action. Positive and rising values within the OBV field of the BirbicatorPRO dashboard support a rising ("bull") trend, while negative and falling values within the OBV field support a falling ("bear") trend.

OBV can be used in concert with RSI and Stochastic values as immediate/discretionary context for price action within the current candle.

Standard OBV vs OBV Oscillator view of volume

Stochastic Oscillator

The Stochastic Oscillator is a momentum indicator comparing a particular closing price of a security to a range of its prices over a certain period of time. The sensitivity of the oscillator to market movements is reducible by adjusting that time period or by taking a moving average of the result. It is used to generate overbought and oversold trading signals, utilizing a 0–100 bounded range of values.

Similar to RSI, BirbicatorPRO will present the Stochastic Oscillator within the dashboard to continually provide situational context for price action given the widely used nature of the oscillator's data by many traders. The popular Birbicator StochTKD indicator available for free on TradingView uses the stochastic oscillator as one of it's primary components. Having a readout within BirbicatorPRO's dashboard allows a user to integrate portions of the StochTKD indicator witihn one indicator to simplify the trading experience.

Birbicator StochTKD paired with BirbicatorPRO

Divergence Score

While BirbicatorPRO's divergence system will create and mark divergences on the primary chart, connecting the candles that are generating the divergence as well as their direction, BirbicatorPRO's dashboard will also in real-time provide the running divergence score that is continually being calculated. This function provides a user with granular resolution in terms of identifying potential reversals based on 10 separate indicators where divergences are building.

The components of the Divergence System can be found within the "Divergence System" section.

Depending on the user adopted settings within BirbicatorPRO's menu options, the user can receive more granular information depending on the minimum divergence score that has been adopted by the user. In this way, the dashboard can continually provide divergence awareness even if the user has adopted to filter out a majority of divergences in order to reduce false positives.

In the example below, we see how the user has selected to only receive divergences on the main chart when the score is 75%. Price came off a prior divergence that met that criteria, while on the current candle a divergence score of 27% is show within the dashboard. This indicates that a divergence is building, and can act as a leading indicator for manifesting another more powerful divergence.

In the same example, two candles later we see the divergence is continuing to build to 45% while RSI marked by the band shading is indicating that price is overbought.

Almost 15 candles later, we see that a divergence strong enough to met the user selected criteria of 75% materialized. Yet, this was after price retraced twice. We also observe that the dashboard divergence score matches the divergence score of the chart divergence.

Finally, we see how price reacted to the divergence, and noted that the "Divergence" score within the dashboard is 0%.

Price Levels

The final addition to the BirbicatorPRO dashboard was the inclusion of always present price levels that are associated with percent price change of the asset. Levels presented within the dashboard correspond to immediate channel level lines presented to the right of price.

These levels represent key levels for price to rise or fall to. In the BirbicatorPRO system they represent both a "Mean" and "Breakers" in the sense that the mean can be thought of as an mean average of price, while the High and Low can be thought of (and used as) "Breakers" which indicate that the trend is "breaking" in either direction. While confirming a breakout above the "Breaker High" should be confirmed with additional elements of the BirbicatorPRO system, confirming a breakdown below the "Breaker Low" should also be confirmed with additional elements of the BirbicatorPRO system. Using these levels as guides for key support and resistance in addition to the price bands can provide the user with multiple perspective to deduce target price levels, as well as support a range of trading systems and styles which include scalping, swing, or investment trading (depending on the timeframe).

Additional information on these levels is contained within the "Auto Price Levels" section.