If you like my banker fund series indicators, this may be another helpful one which describe banker fund sentiment with price and volume infomation. c.
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
If we were playing this bearish, would we wait for green columns to appear above the 0 axis instead?
Ski5iS
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@Maximilian231, in Bearish setup, always first wait for big >>>red columns>>> to form followed by >>>>blue columns >>>which are indicating reversal [warning for Bullish retracment] is about to come then number of>>>> green columns>>> below the zero line tell how much the price and volume will fall. Key here is fuchsia column will indicate end of Bearish momentum.
In Bullish setup, always first wait for>>> big green columns >>> to form below zero line, then patiently wait for >>>fuchsia column >>> to appear it is the first sign of reversal towards the upside [warning for bearish retracement] then above zero line, number of >>> red columns >> show how far the volume and price will move up. Key here is Blue column will indicate end of Bullish momentum.
More importantly use the banker fund with any good trend following indicators to make it highly effective in deciding the reversals and use it on higher time frames for best results [1H, 2H, 3H, 4H]
Ski5iS
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A request, please do update the script to version 5, and can this be filtered to Relative strength ema (RSEMA) and jurik moving average, it will be lot more responsive if you can implement the change. Loving all of your work so far, helped me understand a lot more than I would have solely, thanks Blackcat !
blackcat1402
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@Ski5iS, thanks for your suggestion, I may consider this. I am developping a comprehensive trading sys, it may come first :D
Ski5iS
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@blackcat1402, Superb !! will wait for your development on the scripts....Thanks for the consideration ... :-) Always waiting for what's new on your horizon..