[blackcat] L3 Banker Fund Sentiment

11 lut 2023

Level: 3

Background

If you like my banker fund series indicators, this may be another helpful one which describe banker fund sentiment with price and volume infomation.
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Function
Use price (major EMAs and SMAs) and volume infomation to model banker fund in a sensitive way which can be called banker fund sentiment. This was realized by a form of oscillator and 0 axis is an important boundary to define bull and bear senmtiments. I use different kind colors of columns to distinguish them.
I summarize how to use it in 1D timeframe:

1. When a fuchsia column appears below the 0 axis, start paying attention and watch for a bullish reversval around.
2. When a red column appears on the first day above the 0 axis, it is a signal of confirmed bullish trend.
3. There is a retraced in the middle and start doing T+0 trading to reduce costs.
4. When the pile of columns ( banker fund energy) breaks through the previous high in the late stage of the retracement, start to increase the bullish position, and be a short-term bullish relay, this is the best buying point!
5. Wait for 3-4 days to start reducing or flatting positions, and make your own decisions according to your personal risk preferences!


Remarks

When the pile of column breaks through the previous high point in the late stage of the retracement, and if the stock is a recent hot sector or concept stock,
Then increase your position and wait for the main force to pump! This indicator may not work alone, you should consider to combine your knowledge of other skills, e.g. candle pattern, news analysis etc.

B: long entry, green
S: short entry, red

column color
bullish trend: red color
confirmed bullish trend: maroon color
bullish retracement: blue color
bearish trend: green color
bearish retracement: fuchsia color

Feedbacks are appreciated.

4 dni temu

Informacje o Wersji

OVERVIEW
The [blackcat] L3 Banker Fund Sentiment indicator is designed to analyze market sentiment by evaluating the trends and volume actions of banker funds. This script combines multiple technical indicators to provide insights into potential buy ('B') and sell ('S') opportunities based on fund activities 📊💹.

FEATURES

Calculates Banker Fund Trend using Exponential Moving Averages (EMA):
Short-term EMA: 3-period.
Long-term EMA: 8-period.
Plots trend lines with distinct colors:
Red for bearish trends.
Green for bullish trends.
Aqua for specific bullish conditions.
Fuchsia for specific bearish conditions.
Analyzes Volume Information:
On-Balance Volume (OBV).
Simple Moving Average (SMA) and EMA of OBV.
Plots candles based on volume action and moving averages.
Identifies and plots Long ('B') and Short ('S') Signals: 🏷️
Labels are plotted directly on the chart for easy identification.
Detects and plots Divergences:
Regular and hidden bullish/divergence.
Regular and hidden bearish/divergence.
Customizable lookback ranges and plotting options.
Generates alerts for detected divergences and signals 🔔
HOW TO USE

Add the indicator to your TradingView chart by selecting it from the indicators list.
Adjust the parameters such as Pivot Lookback Right, Pivot Lookback Left, etc., to fine-tune the sensitivity of the indicator ⚙️.
Observe the plotted trend lines, labels, and divergence points on the chart.
Set up alerts based on the generated signals to receive notifications when conditions are met 📲.
Use the provided information to make informed trading decisions.
LIMITATIONS

The indicator may generate false signals in highly volatile or ranging markets 🌪️.
Users should combine this indicator with other forms of analysis for more reliable trading decisions.
The effectiveness of the indicator may vary depending on the asset and timeframe being analyzed.
NOTES

Ensure that you have sufficient historical data available for accurate calculations.
Test the indicator thoroughly on demo accounts before applying it to live trading 🔍.
Customize the appearance and parameters as needed to fit your trading strategy.