#MarketRecovery



📌 Key Criteria

Double-bottom pattern (W-shaped price action)

Price touching or below lower Bollinger Band (oversold condition)

RSI < 30 (oversold momentum)

Ideal buy zone: when both Bol­linger and RSI oversold align with the second dip of the W-pattern.



🛠️ Tools & Setup
1. TradingView Scanning + Indicators

Apply a pattern-finder script like “Double Bottom Finder” or “Patternsmart Auto” to automatically mark W-patterns.

Overlay Bollinger Bands and the RSI (14) on the chart.


Any timestamp where:

The double‑bottom apex (second low) occurs

Price touches or drops below the lower Bollinger Band

RSI is under 30


…is your target buy zone.



2. Alerts Setup

Double-Bottom Alert: Set an alert for the pattern script.

Oversold Alerts:

“RSI crossing below 30”

“Price touching the lower Bollinger band”

Combine or manually review charts where both alerts coincide.

Many Pine scripts support multi-condition alerts—you can create one that triggers only when both conditions happen together.



3. Use Crypto Screeners

TradingView Crypto Screener:

Filter by RSI < 30

Check each coin chart for Bollinger oversold + W-pattern


Advanced scanners (e.g. LuxAlgo, TrendSpider) can auto-flag W-patterns and allow custom filters like RSI and Bollinger.

4. Timeframes & Watchlist

Focus on 4H and Daily charts for reliable setups


Build a watchlist: BTC, ETH, BNB, SOL, ADA, AVAX, MATIC, etc.

Manually scan or set alerts per coin in scope.


🎯 Sample Setup Workflow

Open TradingView

Create a layout with 4–6 cryptos (e.g., BTCUSDT, ETHUSDT, SOLUSDT…)

Add:

Double-bottom detection script

Bollinger Bands (20,2)

RSI (14)

Set alerts:

Pattern appears

RSI drops below 30

Price touches lower BB

Monitor: When both oversold alerts + pattern coincide, mark that candle as a potential buy zone

🔄 Strategy Backing

RSI + Bollinger combo: Buy when price crosses above the lower BB and RSI < 30—classic “double confirmation” oversold entry binance.com+15medium.com+15alchemymarkets.com+15forex.com+15kraken.com+15pforex.com+15linkedin.com+3tradesearcher.ai+3tradingview.com+3alchemymarkets.comyouhodler.com+3tradingview.com+3tradingview.com+3.

Double-bottom + RSI divergence: Patterns often form with RSI bullish divergence at second dip—boosts signal strength alchemymarkets.com.