I believe Altcoins with low trading volume and liquidity are the one you are describing on shitcoins which is true that this trading will not work since theres no enough data for this indicator to use for creating a strategy.
I believe even on huge caps is still risky considering the FUD can happened on the specific project with just one allegation in the team like FTT and Luna which obviously cant be avoided by using this tools.
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Did you look at the charts i posted above? All of the models had warning or sell signals before the Luna AND Ftx dumps