The Tone Vays Indicator is one of the most respected daily trackers in the cryptocurrency community.
This custom-built Indicator Script is programmed for and designed to be used inside the Trading View platform. If you do not have a Trading View account, please create an account It is a free account. It can be applied to multiple asset classes such as Equities, Bonds, Commodities, and Cryptocurrencies (Bitcoin and many other altcoins). This indicator can be utilized on any timeframe and can also be applied to custom created candlestick sessions and in various time zones throughout the world. This makes it one of the most versatile indicators in the market, currently.
The Tone Vay is inspired by the world-renown TD Indicator & Sequential System from the early 1990s and consequently improved upon. This Sequential Indicator was originally conceived in the 1970s, by hand, through a tedious process of trial and error. Tone’s TI Indicator is remarkably accurate with defining the trend and identifying choke points. One of the many differences in this version is the elimination of the “Price Flip” being a necessary condition to start a “Setup.”
This was originally created to analyze daily price data. More than 30 years later, from one minute to one year, this indicator can be applied on any timeframe and can also be applied to multiple asset classes. Since the majority of people are followers of a trend, it’s hardly surprising that “the trend is your friend” is one of the most widely quoted. While it may seem counterintuitive, given that most people do follow trends, this indicator attempts to isolate prospective choke points in ranges, to anticipate market highs and lows when it believes prices are overbought or oversold and during trends when sentiment is invariably at an extreme.
Even for those who are not interested in the technicals, Tone’s TI Indicator can be helpful for market timing purposes, as an adjunct to your existing arsenal of trading tools. Traders oriented to fundamentals find this helpful to determine take-profit levels when they would otherwise be depending on a less-efficient price-reversal pattern to close out a profitable position. Tone’s TI Indicator also highlights, at the time the signal is generated, points where one should refrain from establishing or adding to an existing position in the direction of the underlying trend. Once conversant with the methodology, you can also use the TI Indicator to fade trends.