How To Choose The Most Price-Correlated Candlestick Indicator

3 Steps:

• Multi-chain check for your target token.
• Select DEX Trades, CEX, or Liquidity metric groups based on The Balances on Exchanges chart.
• “Favorite” metrics to create your own dashboard

👉Price Forecast Via The Most Correlated Metrics

Step 1 - Check Token Signals On Multi-Chain

Candlestick supports multichain - Ethereum, Polygon and BNBChain.

Some tokens deploy on multi-chain. You may capture a bullish signal on one chain but miss a bigger up on another if you don’t switch blockchains.

👉 TEL Skyrocketed Over 166% After The CEX Flow Bullish Signals on Ethereum and Polygon

Step 2 - Select Relevant Metric Groups

A token’s Balances on Exchanges refer to the token amount circulating on CEXs and DEXs. These tokens are available to the public for trading on exchanges and thus could affect the price.

• Supply is mainly on CEXs: Check the CEX Metric Group. 

• Supply is primarily on DEXs: Check the DEX Trades & Liquidity Groups

• Almost 50/50 Supply: Check CEX, DEX Trades & Liquidity Groups

Two examples show you tricks.

Example 1: $TORN

$TORN CEX supply is significantly higher than the supply on DEX. Inflows and outflows are more sensitive to price than trades on DEX.

$TRON Balances on CEXs peaked on Aug 9. The FUD sentiment drove traders to transfer tokens to centralized exchanges. As a result, increased selling pressure sent prices lower.

Although a green candle was seen on Aug 10, the heavy inflows crashed the token price.

👉RPL Reflect The Same Pattern

Step 3 - Customize Metric Dashboard

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