Sentiment winner is an indicator made by trader for trader. This indicator made for high volume index and highly traded forex pair. Special thanks to tradingview for providing such a beautiful platform to build indicators.
Though this indicator looks like having candlesticks, well they are not, they are just some visualization. The logic behind sentiment winner involved complex mathematics. But the primary aim is to check where pump and dump happens on high volume index and forex pair. Things gets interesting when you count forex effect and the respective country's option market effect alongside.
When you click on settings, you will have get options to select.
1. For banknifty & nifty - I recommend to use default settings
2. To check Global effect - make IN Option Effect OFF & Forex Effect ON.
3. For SPX & QQQ - make IN Option Effect OFF & US Option Effect ON.
4. For forex pair like EURUSD, GBPUSD - make Forex Effect ON and Invert Effect OFF.
5. For forex pair like USDCAD, USDSEK - make Forex Effect ON and Invert Effect ON.
Well after choosing the right settings for you, you will see sentiment winner is similar to your chart. You can check and spot where things gets different. Your target chart, say nifty50 or eurusd can be pump and dumped but to move sentiment winner, market maker will need extra time and effort. So, it has the advantages.
So, as an option seller you would be more happy to sell options, as you can spot where pump and dump started, but as an option buyer we need to wait for proper entry. Some of those entry can be double top or double bottom, where low risk it involves low risk but high rewards. I'm sure with experience you will find more entries.
let me show some examples.
In forex pairs also, traders can trade on double top or double bottom, where low risk it involves low risk but high rewards. Also can check many imbalances with the help of sentiment winner and can trade accordingly.
let me show some examples.
So these are just a few examples. The use of this indicator is only limited by your imagination.
Though this indicator looks like having candlesticks, well they are not, they are just some visualization. The logic behind sentiment winner involved complex mathematics. But the primary aim is to check where pump and dump happens on high volume index and forex pair. Things gets interesting when you count forex effect and the respective country's option market effect alongside.
When you click on settings, you will have get options to select.
1. For banknifty & nifty - I recommend to use default settings
2. To check Global effect - make IN Option Effect OFF & Forex Effect ON.
3. For SPX & QQQ - make IN Option Effect OFF & US Option Effect ON.
4. For forex pair like EURUSD, GBPUSD - make Forex Effect ON and Invert Effect OFF.
5. For forex pair like USDCAD, USDSEK - make Forex Effect ON and Invert Effect ON.
Well after choosing the right settings for you, you will see sentiment winner is similar to your chart. You can check and spot where things gets different. Your target chart, say nifty50 or eurusd can be pump and dumped but to move sentiment winner, market maker will need extra time and effort. So, it has the advantages.
So, as an option seller you would be more happy to sell options, as you can spot where pump and dump started, but as an option buyer we need to wait for proper entry. Some of those entry can be double top or double bottom, where low risk it involves low risk but high rewards. I'm sure with experience you will find more entries.
let me show some examples.
In forex pairs also, traders can trade on double top or double bottom, where low risk it involves low risk but high rewards. Also can check many imbalances with the help of sentiment winner and can trade accordingly.
let me show some examples.
So these are just a few examples. The use of this indicator is only limited by your imagination.
Versionshinweise:
Minor upgrade, fixed for clean view
Versionshinweise:
A much needed updates for banknifty & nifty traders.. Open banknifty or nifty on the chart, choose the bnf/nf scalp candle ON.. The bight green candle is good for long entry and white candle is for partial.. At the same time bright red candle is good for short entry and orange color candle is for partial..
A much needed updates for banknifty & nifty traders.. Open banknifty or nifty on the chart, choose the bnf/nf scalp candle ON.. The bight green candle is good for long entry and white candle is for partial.. At the same time bright red candle is good for short entry and orange color candle is for partial..
Versionshinweise:
slight error on feeding the data.. fixed
Versionshinweise:
minor error from tradingview.. fixed
Versionshinweise:
fixed some bug
Versionshinweise:
bug fixed
Versionshinweise:
minor upgrade
Versionshinweise:
fixed some bugs