INTRODUCTION Upgraded version of MCDX (Add Moving Average) PROTECTED VERSION This indicator is similar to original MCDX to detect Buyer and Seller momentum based on Price and Volume to detect Buyer and Seller momentum This indicator helps to detect “Strong Buyer Activities a.k.a Bankers” based on volume and price movement.
HOW TO USE THE INDICATOR? There are 2 parts . BARs & Moving Average Lines
BARs
RED BAR = POSSIBILITY of BANKER VOLUME
YELLOW BAR = POSSIBILITY of HOT MONEY VOLUME
GREEN BAR = POSSIBILITY of RETAILER VOLUME
Red Bar Increase means Buyer's momentum increases. Green Increase means Seller's momentum increases. We focus on RED Bar to buy. i.e PREFERABLY we buy when RED bar increase.
Example:-
If Banker’s Bar (Red Bar) crosses above 5 (25%) = Banker begins to build position
If Banker’s Bar > 10 (50%) = Banker already built positions. Price will start accelerate
If Banker’s Bar > 15 (75%) = Banker in control. Price will rocket
If Green colour is Retailer (Avoid)..
MCDX Plus comes with Moving Average DEAD CROSS (shares down)
Banker’s MA cross below Retail’s MA
Banker’s MA cross below Hot Money’s MA
Hot Money’s MA cross below Retail’s MA
GOLDEN CROSS (shares up)
Banker’s MA cross above Retail’s MA
Banker’s MA cross above Hot Money’s MA
Hot Money’s MA cross above Retail’s MA
Contact me to find out more about Turtle Trading System and indicators
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Minor Bug Fix on Retailer Moving Average.
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ver 57.0 : Change minimum offset setting to 2 to increase sensitivity for Intraday trade.
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Version 61.0 Change Offset data type to float with 0.5 step change (Intraday trade setup)
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Enhancement:- 1) Differentiate type of RED BAR DARKER RED COLOR - STRONG BULL FORCE LIGHTER RED COLOR - WEAK BULL FORCE
example of usage :- Potential Buy if Banker's Chip bar change from LIGHTER to DARKER RED
2) Enable Alert Notification of Banker's Bar color changing. DARKER RED COLOR - STRONGER BULL Alert Notification LIGHTER RED COLOR - WEAKER BULL Alert Notification
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Set Highlight Weak Banker as Default Setting
Add Oversold (OS) signal for Sell at Peak setup
Add Overbought (OB) signal for Buy on Dip setup
Detail usage of MCDX+ is shown below.
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1) Publish with Clean Chart. 2) Change offset default setting to 10
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Change scale from 20 to 100 to represent percentage.
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Remove dormant input and cleanup code.
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Implement Golden & Dead Cross Alert. Alert Conditions:-
Banker's MA > 25% BANKER MA CROSSES HOTMONEY/RETAILER MA
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Implement BANKER SPIKE ALERT Spike up with +ve Delta % will trigger Spike Up Alert Spike Down with -ve Delta % will trigger Spike Down Alert The alert is determined by Banker Delta Alert setting.
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Add Banker spike label onto the indicator to indicator further buy or further sell.
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Release V1.31 :- (Previous Released V1.08) V1.15 Detect Banker Momentum for FIFO trade. (Measure relative strength of Banker's momentum versus Retailer momentum) V1.16 Include SmartMCDX feature to enable analysis without volume data. V1.16 Code cleanUp
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Cosmetic update : Change HotMoney color to WHITE when Offset is not in default setting.
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Add option in MCDX setting to allow user to choose Manual or Auto Offset setting
For Auto Offset setting, MCDX will automatically change the offset when Timeframe change based on the following : M, W, D, 4H => Offset 10 2H, 1H => Offset 5 30min , 15min => Offset 2.5 5min down to 1min => Offset 0.5
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update script to follow latest TV function call color.new() No change to user experience.
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Cosmetic change. 1. User able to customize color 2. MCDX value displayed as legend 3. Min Moving Average reduced to 1 4. Add Tooltip to explain functionality
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Minor change Add input to change legend width
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Allow table to auto adjust the width based on content.
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Version 172.0 - Reduce Minimum offset to 0.01 for scalping.
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Ver177 : Integrate Momentum Indicator with Turtle Trend
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V198 - Include Strong and Weak Retailer highlights, similar to Strong and Weak Banker higher. ---- How to Read ---- Strong Retailer (Dark Green) is when selling starts to make a move. Weak Retailer (Light Green) is when selling is slowing down. Strong Banker (Dark Red) is when buying start to rally. Weak Banker (Pink) is when buying slowing down.
Example of usage (Best if use with Turtle Signal):- Buy/LONG : Turtle Signal / Trend Buy Signal on UPTREND and BULLISH MCDX Retailer become weak (light green) and Banker become Strong (Dark Red)
Sell/SHORT: Turtle Signal / Trend Sell Signal on DOWNTREND and BEARISH MCDX Banker become weak (pink) and Retailer become Strong (Dark Green)
AVOID Sideway Ignore Turtle Sell/Buy signal if HotMoney (Yellow or Grey) dominate the % Both Banker and Retailer are weak.
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Version 206: Include Classical Divergence setup under MOMENTUM indicator Note: Divergence is a sign, not a signal to buy/sell. A bearish divergence is a pattern that occurs when the price reaches higher highs, while the technical indicator makes lower highs i.e Bearish Divergence meant there's a sign of bearish in Bullish Momentum while Bullish Divergence meant there's a sign of bullish in Bearish Momentum
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VERSION 207 - Additional Settings for FOREX/GOLD traders:- For Forex/Gold trader, it is recommended to increase MCDX sensitivity by reducing OFFSET value. Default value is 10 which is mainly for STOCK. For Forex/Gold, recommend setting is below 2.5.
GO TO MCDX Setting, Uncheck MCDX+ Auto Offset option, then change the Offset value to 0.2, Refer to below diagram for MCDX+ setting
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Version 212 MCDX as main indicator. Option to display MCDX Moving Average or Momentum as Secondary Indicator
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Version 222 Enable Momentum crossing alert. Add Smoothening momentum option.
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VERSION 228
Add Fast Turtle Buy at OverSold Momentum Alert. Add Fast Turtle Sell at OverBought Momentum Alert.
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Include Intraday algorithm into MCDX+ Remove Divergence feature.
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VERSION 257: 🔴Strong Red = Strong Bull (LONG) Weak Red = Weak Bull 🟢Strong Green = Strong Bear (SHORT) Weak Green = Weak Bear Thin line = Banker Moving Average Thick Line = Retailer Moving Average Remove HotMoney Moving Average.
Automatically change the algorithm to INTRADAY Setting if TIMEFRAME below DAILY TF.
Label L (LONG) and S (SHORT) will display based on INTRADAY RULES. i.e:- (Default Setting) LONG if BANKER MA CROSS above 25 but BELOW 35 and RETAILER % BELOW 25 SHORT if RETAILER MA CROSS above 25 but BELOW 35 and BANKER% BELOW 25
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VERSION 262: Update Intraday algorithm. Automatically tune Offset setting for Timeframe below Daily chart. Signal based on relative strength of BANKER and RETAILER.
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VERSION 264 Automatically change algorithm to Smart Intraday if > Instrument without Volume or > Timeframe below DAILY chart and MCDX Auto Offset
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Cosmetic update : Customizable colors for Banker and Retailer MA