BC TRADING INDICATOR

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Nitin R
@finallynitin 2 years, 11 months ago 472 views

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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: 👇

The Simple Swing indicator is based on T3 Moving Average, which was first described by Tim Tillson, in the search for a “perfect” moving average.

The T3MA incorporates a smoothing technique which allows it to plot curves more gradual than common MA & with a smaller lag.

During most of the time in a trend, price will stay well away from the T3MA. Thus, a decisive close beyond the T3MA often indicates the end of a trend.

The T3MA ribbon consists of a fast and a slow moving average (MA).

The ribbon is green when the fast MA is above the slow MA. This green ribbon represents the upswing. Similarly, the red ribbon represents the downswing.

The traditional signals are based on crossovers between fast & slow MA. These are the green & red ribbons representing the “confirmed” swings.

These traditional signals are lagging. So, we use the Early Swing signals.

Early Upswing starts when T3 ribbon is red, but price has closed above the ribbon. This is the E0 candle.

Similarly, Early Downswing starts when T3 ribbon is green, but price has closed below the ribbon. This is the Ex candle.

The Entry is taken above the high of the E0 candle. Look for constructive price action at this juncture, preferably a descending trendline breakout.

The major part of an exit strategy in swing trading is selling into strength.

Here, we exit based on 2 “sell into strength” components & 1 “trend-following” component.

You can scroll down my timeline to review a number of trades taken by me with the SimpleSwing strategy.

The swings are an inherent nature of the markets, so with proper risk management, the strategy is bound to be profitable.

Here is the link for the Tradingview script of Simple Swing:

https://t.co/1hY3De4Vhg

Hope you find the Simple Swing concept useful. I thank my friend @J250717, without whose help this strategy wouldn’t have seen the light of the day!

If you'd like to read this thread in relatively more detail, find it here:
https://t.co/fjEbnG1Tqm

More from Nitin R

Nitin R
@finallynitin

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.

Nitin R
@finallynitin

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

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Nitin R
@finallynitin

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!

Nitin R
@finallynitin

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.

Nitin
@finallynitin

A simple #scan to find stocks which have moved 25-30% in past 20 weeks (with moving average critera & liquidity filters) will give you a watchlist of names to keep track of.

Update the list daily. Manually scan all charts in watchlist to add & reject.

https://t.co/J1wBe2yPui

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