BC TRADING INDICATOR

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Nitin R
@finallynitin 1 year, 9 months ago 277 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
@finallynitin

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.

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Nitin R
@finallynitin

#NIFTY weekly chart showing some similarities with the 2015-16 fall.

Both falls were preceded by an almost non-stop bull run for 1-2 years (counting from last retest of 200-week SMA).

In 2015-16, index fell 25% in 52 weeks. So far, from Oct 21, we have fallen 17% in 34 weeks.

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

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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