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Bonfire

is

The true way to square price and time. 

By mastering Bonfire you will use it's all encompassing features to find

 PIVOTS -  FRACTALS - SUPPORTS -  RESISTANCE - TRENDS - VELOCITY - GEO-TRENDS - GANN TRENDS - SYMMETRY

 

 

BONFIRE WORKS GREAT ON CRYPTOCURRENCY AND STOCKS ALIKE. 

BONFIRE IS A MULTILAYERED PREDICTION TOOL LIKE NO OTHER.

Introduction:

 

In the current financial climate, it is of the utmost importance to keep your capital safe whilst trading, or you may risk getting #REKT.

The Bonfire indicator and system by CaptBlackBeard on TradingView.com is one of the most versatile and valuable indicators in today’s toolboxes  as it enables the trader to have insight into the anticipated next move of the asset in trading intervals of choice. It is saving a lot of charting time thereby granting the modern trader more time to focus on what really matters. For beginners , time intervals from 1 minute to 12 hours is preferred (for the non-squaring group of indicators).  Intermediate users will have no problems using its full features for daily and weekly charts.  Each asset and interval will react in a consistent manner to Bonfire math.  There is always a pattern to be found and Bonfire provides base data that each user can adapt to.  

 

 

 

 

Indicator components:  

 

Squaring Price and Time

 

 

 

 

 

 

 

 

 

 

 

 

 

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Just a few of the advantages of Bonfire squaring

 

  • Unique square offsets and settings capture common time pivots coupled with ratios that allow you to align 1:1 from the event of your choice. 

  • When the price is square you have a greater chance of being accurate with trend predictions, Gann tools and geometry.  

  • When the price is square you have built-in confluence for your current system and indicators. 

  • One factor not considered by most is the massive variable of scaling charts. Finding 45 degrees is just your opinion unless you scale a chart properly.

  • Many people find that having a structured and consistent method for visualizing an asset helps them understand the state of the asset faster but also provides a stable way to compare assets quickly.

  • Aside from finding 45 and 90 degree trends that are true to price and time. You can use the corners, midlines, and tangents from any and all squares to build some very powerful trendlines and pivots. 

Squaring Inputs and settings 

*Changing intervals on different assets to find consistent patterns that work for you is key.

*Making the price work to Bonfire should always be the #1 goal. The underlying (somewhat odd to some) numbers and math that make Bonfire unique   also make it a powerful tool. It has taken me years of filtering and testing to create something simple from so many complicated variables. 

Source

 

  • When settings are default, the squares are centered to lock onto the price at the opening of a new candle. This allows you to "true the price" and map trends to the current price no matter what interval you are in. It is recommended to keep the source as "open" when you are working on the most current price or candle.  

  • As a feature you can now lock the center of all squares to different sources. Examples: open, high, low, close 

  • Advanced users may find other sources to lock the squares to. Examples:  EMA 200, linear regression, Hull MA ​

Center Squared to Candle #

  • As mentioned above, it is recommended to keep the source as "open" when you are working on the most current price or candle. 

  • This setting will lock the squares to a candle in history. Example:  0 = current candle  |   2 = 2 candles back 

  • When using this feature please keep the source input in mind.

  • ​​You can now lock the squares to an ALL TIME LOW or ALL TIME  HIGH price event.

  • By the using proper combinations of source and candle # using the Tradingview Date Range tool to measure the candles between the current price and those events in history.  

  • I always encourage new and improved ways to utilize data, tools, and tech to create something better. This option will open some doors for you to explore Bonfire and I know it's useful in the right hands.  

 0.125 Multiplier Up Down

  *In numeric terms 45 degrees is equal to 0.125 (360 degree=1)

  • Offsets squares from the price up or down by multiples of .125 when you scroll or arrow up and down inside the text box.

  • You can enter any number you wish but scrolling will always increase/decrease by  0.125   (trust the math) 

  • I always encourage new and improved ways to utilize data, tools, and tech to create something better. This option will open some doors for you to explore Bonfire and I know it's useful in the right hands.  

Expand or Reduce All Squares  by 0.0125

  • Used to finetune the size of all squares (if needed). 

  • You can enter any number you wish but scrolling will always increase/decrease by  0.0125   (trust the math) 

  • It is encouraged to "put in the work"  as you align the asset with the default settings as much as possible. Often this means changing intervals and/or as a last resort for aligning harmonic points  and major events to corners that are often hidden to masses. 

    • This can be as simple as choosing to align and scale a corner to  a close price instead of the highest/lowest wicks.

    • It can also be as complicated as cross referencing price to VWAP, volume profile,  moving average crossing points or breaking points in price as your alignment/scaling focal points. 

  • Making the asset/price work to Bonfire should always be the #1 goal.

 

  • The underlying (somewhat odd to some) numbers and math that make Bonfire unique also make it a powerful tool. It has taken me years of filtering and testing to create something simple from so many complicated variables.

  • If you have to adjust everything to fit the price and time coordinates that can be a signal that:

    1. You are missing or overlooked something. Check the following: 

      • Intervals - Sometimes it is worth paying for Tradingview premium access. The ability to use custom intervals such as 640 minutes is worth it.​

      • Ensure that you are not just focusing on ATH/ATL or the absolute high and low wicks from  candles.  

    2. The subject or asset is young or has recent airdrop data. 

      • In this case it is very wise to start on low intervals to capture the data in it's first stages of discovery. Casting trends during these times allows for unbiased data later on down the line. ​

      • THE DATA PROVIDED DURING THE FIRST CANDLES OF AND ASSET IS STILL VALUABLE. If you have to cast rays from a properly scaled and squared 1 min chart "so be it". 

  • I always encourage new and improved ways to utilize data, tools, and tech to create something better. This option will open some doors for you to explore Bonfire and I know it is useful in the right hands.   

The Non-squaring Group

 

 

 

 

 

 

 

 

 

 

The Bonfire system is proactive, not reactive and provides forecast indicators to show you what can happen ahead! The biggest advice I can give you (as you start) is to change intervals to timeframes that not only give you a (least effort) chance to square, but also show the rest of the indicators casting easy to read patterns (see below). In the beginning you will have a better chance to learn using intraday < daily candles for the non-squaring group. After you have learned the ropes, you will be able to adjust the settings to trade the daily to monthly charts with ease.  

 

Preferred Intervals

[19,24,26,36,43,49,55,63,64,71,72,90,100,111,144,180,200,222,285,

314,333,360,365,420,432,460,500,555,630,640,720,888,

900,950,1008,1280,1349]

IMPORTANT 

  • This group of indicators give you trends in the future to help you predict you next move(s). Looking back at how the price reacted/followed/opposed the  peaks, valleys, flat lines, crossed and/or failed each line is key. Knowing how to identify DIVERGANCE is so imperative. At times you will see the price lift as certain indicators fall. Other times you will see the price follow as it tries to find balance.  After using Bonfire for a decent amount of time, you will be able to see this as a fine sheet of music, seeing things that many cannot.

       

      Study indicators on both side of the price

 

 

 

 

 

 

 

 

 

1.  Safety Net (SN)Brown Shaded area with peaks and valleys

  • Upon price crossing over/above/up the safety net area price will often gain upward momentum. Likewise the price may follow the SN downward until it finds equilibrium in PRICE , VOLUME, VELOCITY, and TIME.

  •  The slight difference in shaded color shows if the SN has oscillated above its base or below. 

 Price Patterns & Events to Watch 

  • Price is drawn to the low points in the advanced indicators (when price is below indicators). Think of these areas as voids in history that need to be filled.

  • Price is drawn to the peaks  in the advanced indicators (when price is above indicators). Think of these areas as voids in history that need to be filled.

 

  • Look for price to cross the brown cloud area easiest on the thinnest portion of the cloud. In a downward trend price is attracted to the wedges on the safety net area below it.

  • Depending on what interval you are on, the price will move toward the dips if under the brown cloud / safety net and try to break through.  Also you will see the price build up behind it and build pressure.

  • The highest and lowest points on the safety net acts as potential pivots; Valleys are a potential down trend and Peaks a potential upward trend.

  • Dipping onto the flat side of the Safety net could act as support and possible bounce expected pending the momentum.

 

2.   Driving Line (DL) = Blue Line 

  • Here are some actions you may see from the DL

  • This line (at times) will counter momentum, so if the price goes up it will dip, if the price is about to go down it will rise, therefore the more clearance price gains above the driving line the better.

  • The driving line directs the price from the opposite side it wants it to go; what can really propel a coin is a high driving line that drops from above and gets in sync with a wedge for a double cross up.

  • If the driving line is really high over the price, and coin is at the bottom of a drop, chances are good it will rejoin by a rising price.

  • In an uptrend if the driving line starts pointing upward the pump is losing momentum.

  • The driving line can also act as a support or a resistance line when close to the price action.

 

5.  Buffer Line – Yellow line

  • The future Buffer line is very much indicative of the forward price curve.

  • If the buffer line moves downward away from the price it may create momentum for an upward trend.

  • When the driving line crosses up over the buffer line it may be a signal of a bullish trend. The price crossing up over the buffer line is also positive.

  • When the driving line crosses downward over the buffer line it can be Bullish or Bearish or sideways action, depending on the momentum and angle at cross.

  • The Buffer line can also act as a support or a resistance line when close to the price action.

  • In a serious uptrend, the buffer line can be used to judge the level to which price correction will take place.

 

4. Bonfire, Fibonacci, Gann squares – BOXES 

  • Levels (horizontal lines) the price is likely to bump or retrace to .

  • Assisting with geometric charting and true price squaring.

  • When sized/scaled correctly edges act as future pivot lines (vertical lines).

 

6.  Pivot levels - Beige thick lines  or  Dotted Lines (version dependent) 

  • Price vibration levels

  • Assists setting targets for swing trades

  • Support / resistance

  • Hidden confluence showing rise and falls  

 

NOTES:  *If the chart is setup properly you can trust it.

  • When price goes below the Safety net and the driving line and the buffer line and do not bounce/close on or above the square levels, SELL!!!! It is going to drop fast and far below.

  • Have patience and wait for the price to begin reacting to the indictors ahead and above. When the price is below a peak in indicators and is also  just reacted as a bottom or low, take notice. 

  • If you see the indicators start to drop from a huge peak and the price reacts by moving up (divergence) while crossing over indicators now would be the time to start buying. 

  • Next, if the price is low or has recently bottomed and diverging upward against the dropping indicators you look for crossings. You want to see the price cross over the SN, DL, Buffer line etc with velocity. 

  • If you have made drawings to mark the square levels and pivots , this crossing point may very well align with those points. 






 

W.D. Gann

The Ultimate Goal 

To bring a group of likeminded, openminded, truth-seekers together and in a open source format.

Together we build and improve upon a very unique system and method of predicting markets and cycles.

 

It brings great pride and joy to see the ideas that springboard from tools and data that I have created and

 

use daily to make and save profits.  

  If you are not familiar with W.D. Gann you owe it to yourself to read into his work. He was a master of cycles and "ahead of his time" in terms of market analysis.  The findings and accuracy of W.D. Gann have intrigued me beyond the available books and text I have read. I ask a question that no one can answer.  What would Gann do in todays market, given the technology and computational power we take for granted every day?  I vision his available resources (early part of 1900's) along with the lack of efficiency he dealt with to collect the data he needed. How he had to manually chart  the price on paper before adding his analysis. His forward thinking research included  but was not limited to; natural law, planetary alignment, scripture, numerology, and weather cycles. 

 

  Gann needed tools that provided consistent outputs derived from variable inputs. These are tools that followed his strict rules yet allowed for an unbiased viewpoint of a subject for today and the future.  By Gann and his most common theory, price following 45 degrees is the strongest indicator of a continuing trend. Trying to replicate the correct scaling to find 45 is difficult to say the least. Copying what Gann used in proper form seems either redundant or impossible. Redundant in the fact that you can download his Square of 9 calculator on an iphone, or copy his drawings and methods but never come close to his accuracy.  Impossible only by the fact that there is an art and a method that I believe Gann only knew of. 

  

  As I started using different styles and tools to build charts, I notice a void in how things function. It seemed that no mater how much I studied, I could not replicate the awesomeness I had in mind.  Soon I found myself questioning how much of this is an art and how much is a science.  I still don't know the answer to that question but I do know that reducing variables adds consistency and usability.  My background in data lead me to analyze the variables and develop a core set of rules to add more constants. I'm a big believer in having base data to find patterns. Even more so, I love future trendlines and indicators that are not lagging. The key is to stay a step ahead not behind.   

 

  The squaring portion of Bonfire was built using my unique math along with select components from Gann's work but also includes Fibonacci math. There are many ways to use the squaring feature but in it's most simple form, it's the fastest and most unbiased way to find the coveted 45 degrees that comes so natural to us in life.  Once you see how natural the price looks after squaring (properly), you will see things from a different perspective. At this point you will be able to combine the additional indicator ( non-squaring) features of Bonfire to get accurate reads and forecasts. 

One of Gann's most unique and important concepts for projecting market time/price reversals is the relationship of price and time. Gann called it “squaring price in time.” Important price highs, lows and ranges often project future time periods when minor and major trend reversals occur in the markets.

Squaring Price with Time By Robert Miner - Sacred Traders

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Weekly Chart
Weekly Chart

Showing major bottom to current price trend on a zoomed out version, weekly candle, chart.

press to zoom
Daily Candles
Daily Candles

Squared to local price and time on a daily chart. Once you know what 45 degrees is, adding trendlines is easy. Simply clone the lines and match them with price action or make them tangent to corners.

press to zoom

press to zoom
Weekly Chart
Weekly Chart

Showing major bottom to current price trend on a zoomed out version, weekly candle, chart.

press to zoom
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BTCUSD_2021-08-23_14-59-12.png
Divergence
Divergence

Notice the difference between the overall divergence and the smaller sets of divergance within. When the chart is showing this, you have an opportunity to swing trade until the next pivot or just ignore until the you get confirmation that the bottom is in. Trust me you will get to a point where you know.

press to zoom

press to zoom

press to zoom
Divergence
Divergence

Notice the difference between the overall divergence and the smaller sets of divergance within. When the chart is showing this, you have an opportunity to swing trade until the next pivot or just ignore until the you get confirmation that the bottom is in. Trust me you will get to a point where you know.

press to zoom
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