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This review is an extension to our full Market Cipher review that we covered on the homepage. This time we are just looking at Market Cipher A. Market Cipher A is part of the Market Cipher Indicator package provided by Crypto Face and his team. Is provides indicators on top of the candles on trading view which tell you information on where the market it heading.
In this review we take a look at each indicator to see how accurate it is and whether you can succussfully trade with it.
It is important to familarize yourself with the different keys available in Market Cipher A, they are shown in the below diagram:
These indicators appear above each candle, but it is important to wait until the candle actually closes before reacting on them.
To make things a little easier, we are going to look at each indicator on its own and compare it with market price to see how it performs.
The Red Blood Diamonds
This is suppose to be showing you when there is bearish momentum in the trend. We already showed you the free indicator on Market Cipher B, but these blood diamonds are also coming from the same thing. Take a look at the image below:
You can see the blood diamonds line up exactly with the red dots on CryptoVN_Trend. Update: You can get Market Cipher A for free on our new Get Market Cipher For Free page. This includes the red blood diamonds, ema ribbons, yellow crosses, and blue triangles.
Yellow Cross – Market Manipulation
This indicator stated that it can identify when there is market manipulation about to occur, so be careful with your trade!
Let’s See It In Action
Cryto Face mentions that Market Cipher was created for the 1 hour chart, although it works on all time frames, but for this experiment we will use his 1 hour chart to see how well it identifies market manipulation.
To do this we will look for obvious price movements and see if the yellow cross identified it, we will also look at when it did occur and what the resulting price movement was.
We’re writing this review on 11th August 2019, and the last time a yellow cross appeared was 23rd July 2019 at 04:00. This obviously wasn’t the latest market manipulation, unless whales and market makers were on vacation!
Nevertheless, lets see this action:
As you can see from the image above there were 3 yellow crosses in fairly short intervals. The first appeared when the red candle was 3 quarters down, the second didn’t really show anything apart from a slight rise in price and the 3rd was actually successful. But, this is obviously not market manipulation as the fall occured over 5 hours as opposed to a straight fall as you would expect from a whale or maket maker selling a shed load of bitcoin!
Let’s look further back:
The chart above is from 24th June to the 27th June where we can see some obvious market manipulation due to the Bart Simpson like looks, straight ups, and straight downs. But as you can see no yellow crosses to show any market manipulation was in force.
Get The Yellow X For Free
Update: You can get Market Cipher A for free on our new Get Market Cipher For Free page. This includes the red blood diamonds, ema ribbons, yellow crosses, and blue triangles.
Yes, you’ve guessed it, this indicator is again just a calculation from CryptoVN_Trend. It’s simple a red dot under the white oversold line. To demonstate this take a look at the image below:
Conclusion Of The Yellow Cross
If you’re expecting an amazing indicator that draws information from the whale watch twitter account, or some sort of interface looking at the exchanges you are deeply mistaken. This yellow cross indicator is purely a mathematical formula that shows then current price doesn’t match other statistics. It’s not accurate and price may go up or down, it’s nice to see something to say be careful, but if your trading without being careful then you will lose money!
Red Cross – Bearish Indicator
The red cross above the candle shows that there is bearish signals showing, so be careful! Let’s now take a look at this indicator to see how well it works.
Now, one thing to note is that all these Market Cipher A indicators work on past data. This is relevant when you are considering acting on a red cross indicator.
This red cross is just showing you that the candle in question shows to be of bearish nature. How useful is that on its own, none whatsoever, we can see from the normal candles! But is there more too this red cross.
Well yes, of course, there is! In fact, this indicator is another formula looking at the other signals within the RSI and MACD to confirm. But again still pretty useless on its own!
The fact that when you look back in time and see all these red crosses on the candles that dropped is irrelevant, because the cross doesn’t appear as soon as the candle appears, only when it reached down a certain distance. It does not, however, tell you you should exit the trade, in fact if you look at the image above, there’s a couple of cases where you should not exit!
The green dot that appears above the candles on Market Cipher A is suppose to where there is Bullish intent, but how accurate is this and can you actually make some pretty good trades of this signal? Let’s take a quick look.
The image below shows the last 3 green dots that appeared on the 1 hour time frame. This time frame is mentioned a number of times by CryptoFace as the time frame that Market Cipher was built around.
Clearly, we see the first green dot appear followed by a large spike in price, although this does look like market makers making their move. The next 3 green dots show no price in price, in fact there was significant drops in price. It would be more accurate to say that this in fact is a bearish indicator.
Obviously, this indicator is nothing that anyone should trade-off, in fact it just clouds your judgment on whether to trade or not. This is not a cherry-picked chart, it’s just the last 4 green dots that appeared. Let’s go back further to see:
These are the next 5 green dots that appeared. Again, we are seeing 4 out of the 5 were more bearish than bullish.
The blue triangle on Market Cipher A is supposed to let you know then there is a trend change, so if price action currently looks bullish the triangle lets you know that we are now in a bearish zone. Let’s take a look at this indicator, again on the 1 hour time frame that this indicator was built on to see how accurate it has been.
This has to be one of the most confusing indicators on Market Cipher A! The first triangle on the chart above does show that the upward trend comes to an end, and as we would expect there was opposite price action to the downward direction. The second triangle again spots an end to a small upward direction, and the 3rd triangle is bang on with a huge spike up. The following 3 triangles also seem to spot some end to the trends.
The trouble you will have trading on the Blue Triangle in real-time, is identifying if its the end of a bear or bull phase. It’s quite easy to go back and look at the price history and say yes it works. But let’s look at it in real-time.
Take a look at the graph below where we took out the price action. The blue triangle shows there is a change in trend, so where would you put your stop losses?
Would it be at 10700, 10800, 10900, or even 11000?
Well, let’s see what happened.
The fact is any of the stop losses would have been triggered, and thats the same throughout all the blue triangles that appeared. In fact we could randomly put a blue triangle on any chart and within a few candles we see a small trend change.
To Be Continued
We will be updating this review with the additional indicators, but we think your getting the general idea that Market Cipher A is working of immediate signals without the use of another indication is pretty useless on its own and should not be used as a guide on your trade, just nice to know information that may persuade your decision process.
In the meantime, take a look at our Market Cipher Review where we look more closely at the most popular indicator and compare it with other free indicators.
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