I have a very simple method for swing trading in cash stocks.

With a Tradingview script at the end, here is a thread🧵 on my Simple Swing strategy: 👇

Here’s how to use Tradingview to quickly compare multiple symbols from a particular sector among themselves, & with the index👇

I’ve made a Tradingview watchlist of some sectors which do not find a place in any particular sectoral index. This list currently has 138 NSE stocks plus NIFTY. You can add more.
(List is a work-in-progress, & by no means complete.)

You can select the index & names from a particular sector, & compare their price movements. One can visually eyeball outperforming names in that sector.

e.g. Ship-building MAZDOCK has given a 232% return in past 1 year, as against 7% for NIFTY:

Here is the watchlist. Save it to your Tradingview & enjoy!

@ManishK56801020 Just change the value of ADX from the default of 14 to 22, & hide the DMI+ & DMI- lines.

The time has finally arrived to simplify how we use the volume indicator on our charts. With a Tradingview script at the end, here is a thread🧵 on what “simple” volumes are, & how to use them: 👇

The conventional volume indicator is full of ‘noise’ in that all volume bars are given the same importance. Color & size are the two informations they provide. But this information is “across the board”, irrespective of when it’s important enough or not.

The Simple volume indicator is minimalistic, in that it strips away the conventional volume indicator from a lot of “noise”, & help narrow our focus on actionable volume bars only. It displays only 3 type of volume bars prominently: blue, green & red.

Other than these 3, all other volumes are “noise” & need not be kept into any actionable consideration. All these inconsequential bars are grey. Moving average of the volume is also purposely hidden, as the grey bars themselves are indication of a below-average volume.

While initiating a long entry, we need to look out for only these 3 volume bars, & arrive at our decision. PPVs are the best indicator of institutional accumulation. Multiple PPVs in a consolidation base, & in a breakout candle are very bullish signals.

Why do I use hollow candles & not traditional Japanese candlesticks? Are hollow candles just a cosmetic change, or do they provide us with some extra information that a traditional candlestick doesn’t?

A thread 🧵:

Traditional Japanese candlesticks are all solid. They are either green or red (colors may vary, but you get the point).

Hollow candles use two attributes to provide information regarding the price:
- Color of the candle
- Whether the body of the candle is filled or not

So, a green hollow candle can have its close > open (just like traditional candlesticks), or its open > close (here its body will be filled). Similarly, a red hollow candle can have its open > close (traditional), or its close > open (here its body will be hollow).

The colour of a hollow candle is decided by comparing the closing price of the current candle with that of the previous candle. So, a red-color candle (irrespective of whether it’s filled or not) means that the current candle’s close is lower than the previous candle’s close.

Here is the Chartink dashboard with moving averages plotted on total count of stocks above a certain moving average.

Further the count deviates from its moving average, weaker the move becomes.