GoombX  User Guide


How does GoombX work?

GoombX relies mainly on simple moving averages with a bit stoch RSI and OBV.
When a set is predefined conditions are met, it prints a signal.


What is GoombX good at?

GoombX is really good at catching trends.
That means that in very volatile/choppy markets or at very low Time Frames it can struggle to produce valuable signals.

I personally prefer to use it on Daily charts.


How do I add GoombX to my charts?

Once you have given me your TradingView username through the Discord chat and I have added you you can start adding GoombX to ANY chart.

To do so, click on Indicators in the menu bar above the chart screen.
Select "Invite-Only Scripts" and pick "GoombX: a trend catcher"


GoombX will place a signal above or below the candle during which the predefined conditions are met. It means you can see a signal appear and disappear for as long as a candle is open.

You can consider that a signal is confirmed once the candle carrying the signal is closed, not before.

signal confirmed.PNG
unconfimed signal.PNG

How do I use the settings?

There are only 2 settings on GoombX which makes it very simple to use.

  • Lookback: This is the number of past candles to be used for the analytical study. The default of 14 works very well on Daily charts.

    Increasing the length "slows" down the indicator and therefore produces less signals.
    Inverse, decreasing the signal produces more signals and possibly a lot of noise.

  • StopLoss_pct: This defines the potential loss you are allowing the indicator to have. It is calculated from the Close of the candle producing the signal to the current price.
    In other words, it's how wrong are you allowing the indicator to be wrong until it needs to reevaluate the trend.

    The default of 10 works very well for Daily chart but for lower time frames and choppy environment, I find that using 3 or less yields good results.
    Note that lowering the Stop Loss produces more frequent signals.

Once you change the settings, ALWAYS make sure to re evaluate past performances before trusting the new signals.
Do not change the settings to produce a signal which which fits you current bias.
If the new settings performed poorly historically, it's very likely to produce poor signals moving forward.


How do I set up alerts?

To setup an alert with GoombX, follow these steps:

  • Set up GoombX on your chart with the desired parameters and Time Frame

  • Click on alerts in the right side of the screen and then Add (+)

  • Under Conditions, choose GoombX

  • In the second dropdown box, pick the type of alert you are after (BUY SELL, EXIT)

  • Under Options, choose "Once per bar close" to get an alert for a confirmed signal. Alternatively if you are looking for a developing signal, chose "Only once"

  • Use the alert option to chose the alert delivery method (SMS, in app, email, webhook,...)

  • Create


How can I use GoombX for automated trading

I am aware of 2 service which currently allow you to automate your trading using TradingView alerts:

  • Alertatron
    I do use Alertatron to feed alerts to Crytposhack but I haven't used it for automated trading yet. More info

  • 3commas
    I do not currently use 3commas but have heard good things. More info


What is GoombX Light

GoombX Light is a special version of GoombX which only prints the first entry in a trend and no exit. It effectively displays alternating BUY and SELL signals and is not meant to be used on its  own but as part of a decision making process; as an aid.

GoombX Light is only available (free of charge) for CryptoShack members.


What does GoombX monitor in Alerts?

Exchanges    Pair
Binance    BTC/USDT
Binance    ETH/BTC
Binance    BNB/BTC
Binance    TRX/BTC
Binance    XRP/BTC
Binance    LINK/BTC
Binance    ONT/BTC
Binance    NEO/BTC
Binance    KAVA/BTC
Binance    BCH/BTC
Binance    EOS/BTC
Binance    LTC/BTC
Binance    LUN/BTC
Binance    MATIC/BTC
Binance    MIOTA/BTC
Binance    ADA/BTC
Binance    XMR/BTC
Binance    AMB/BTC
Binance    STX/BTC
Binance    OMG/BTC
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Binance    RVN/BTC
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Binance    XLM/BTC
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Huobi    BSV/BTC
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Huobi    YCC/BTC
Huobi    IDT/BTC
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Huobi    GET/BTC
Huobi    MT/BTC
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Huobi    BHD/BTC
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Huobi    GTC/BTC
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Huobi    HIT/BTC
Huobi    BCX/BTC
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Huobi    GT/BTC
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Huobi    BHT/BTC
Huobi    UC/BTC
Huobi    QASH/BTC
Huobi    WXT/BTC
Huobi    NCC/BTC
Huobi    HB10/USDT
Bybit    BTC/USD
Bybit    ETH/USD
Bybit    XRP/USD
Bybit    EOS/USD


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Past performance is not an indication of future results

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