BC MFI
Saved by @SAnngeri

A short thread on #MFI

The basics here :

 Technical analysis says two things :
1. Momentum precedes price
2. Volumes precedes price

So, if an indicator includes momentum and volume analysis, it will be a leading indicator to some extent. This is the crux why I am so much confident on MFI
The indicator can be used for swing as well as day-trading. I use a period of 10 as I have seen that being our responsive to our markets here
Trendlines drawn on MFI or patterns might not be visible on price, normal trendline trading rules apply.

Divergences work and so does patterns

One can use MFI as a stand alone tool or as a supporting tool with other indicators
My indicator on divergences used codes was not allowed by tradingview ( future looking in a protected code). Tradingview has a good built-in divergence indicator which I have simply modified by plugging in MFI in place of RSI.
Since the original code here is not mine, publishing it as open source

https://t.co/uPQHQMr11o
Clicking inside the settings shows the hidden divergences also. Normally shows the standard divergences
Consider this a guru-purnima return gift. Play along with the code, study the indicator well and make it a part of your arsenal 🙏
If this also gets taken down, here is the code. Save it as your own indicator and use in future :

https://t.co/YflapyCfOe
Inside the code, substitute the MFI with any other indicator like RSI or MACD etc, the divergences will be plotted for them too

More from Subhadip Nandy

Subhadip Nandy
Subhadip Nandy
@SubhadipNandy16
The most important question now on the mind of all analysts and traders. Is this a bear market rally or is this the start of a bull move. Retweeting this as I will need a few tweets to explain my view


Everyone knows the HH-HL or LH-LL as per Dow theory. This can be a bit confusing on how one marks the Highs and Lows. Long back, I picked up this trick from one of the neo-Dow theorists on what to do in scenarios like this

Simply plot a 5 period exponential moving average on a different panel. A 5-EMA simply shows you a running weekly perspective and kind of smoothens the price where a single spike high/low is not of that much importance

You will see this 5-ema also making HH.HL.LH.LL. So now, rather than focusing on the highs/lows on the charts, focusing on highs/lows on the 5-ema gives a cleaner perspective

As per this charts, unless the 5-ema now closes above 17540 ( the ema, not Nifty price) I will not play this as a bull market. I will deal with this market as a counter move against the major bear trend
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Subhadip Nandy
Subhadip Nandy
@SubhadipNandy16
Since 99% of my own trades are in options, the calls I give are also on options. I am of the firm belief, that a basic knowledge of option greeks is necessary for any trader aspiring to trade options. For this, there are numerous books and even more resources on the net/youtube

However, a trader trying to learn Greeks face the problem of information overload. The problems are mainly 3
1. Either the text is too mathematical
2. Or the explanation is too simple just skimming the surface
3. In some cases, outright wrong info ( specially on youtube)

I have decided to make a video on options greeks in which I will try to explain simply ( without the maths 😀) but will go a bit more in-depth so that the info is usable by traders doing actual trades

Spent the major part of today designing the ppt ( 40 slides), hope to upload the video in the next few days. I will also provide the names of other resources which I have referred in making the video so that viewers can refer those texts for a more comprehensive understanding.

The video will be from the view of a trader/practitioner and not just a theoretical discussion.

I sincerely hope starters will be benefitted from my effort 🙏
OPTIONSLEARNINGS
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Subhadip Nandy
Subhadip Nandy
@SubhadipNandy16
Options and their price action analysis.
Read 👇👇
OPTIONSLEARNINGS
Subhadip Nandy
Subhadip Nandy
@SubhadipNandy16
My experiences in trading through various international locha events, high VIX and various events.
A thread

I follow the news, but never think of myself smart enough to predict what is finally going to happen. I am not a geopolitical expert, smarter brains than me are analyzing and acting on the news

Their actions are reflected on price, volume, OI. Following the data keeps me at par with the latest news

Be ready to cut your existing positions ruthlessly when data changes, be ready to absorb the loss and get out of the position. Never hold onto with hope.
Never works

Reduce trading volumes. Higher the volatility, lower the trade size.
Use lower volumes and bigger stops to counter the volatility
ALL
Subhadip Nandy
Subhadip Nandy
@SubhadipNandy16
Regarding the MFI divergence indicator those who are asking :
1. Link not working on TV
2. Not showing on spot Nifty/BankNifty
3. Code showing errors
All your answers are there in the original thread. Kindly do not expect spoon feeding .
SOLVE YOUR PROBLEMS ON YOUR OWN
MFI

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