Force Index with Buy on Dip strategy

This charts has 2 indicators
1 - Force Index
This indicator is based on Dr Alexander Elder ForceIndex indicator with relate price to volume by multiplying net change and volume.
- GREEN Bar indicates Bull is in control
- RED Bar indicates Bear is in control.
LENGTH of the bar indicate the strength of Bull or Bear.
Normally there's potential BUY if the RED bar turned GREEN and SELL if GREEN to RED.

2 - Stochastic momentum
Stochastic momentum is to detect potential Reversal where BLUE bar will appear if :-
- Oversold - Stochastic less than 35
- Closing price is higher than last 2 High (Fast Turtle)

// Note : Best use with "EMA Indicators with BUY sell Signal"

Notes de version

*****************************************************************************************
Description :-
This indicator is based on Dr Alexander Elder ForceIndex indicator
with relate price to volume by multiplying net change and volume.

1 - GREEN Bar and GREEN background indicates Bull is in control
2 - RED Bar and RED background indicates Bear is in control.

LENGTH of the bar indicate the strength of Bull or Bear.
Normally there's potential BUY if the RED bar turned GREEN and SELL if GREEN to RED.

On top of that, it's also include information about Stochastic momentum to detect
potential Reversal. BLUE bar will appear if :-
1 - Oversold - Stochastic less than 35 (Default value set at 35)
2 - Closing price is higher than last 2 High

Note : Best use with "EMA Indicators with BUY sell Signal"

Notes de version

New Update :-
Change background color of the FiFT indicator to indicate BULL or BEAR force.

1 - GREEN Bar and GREEN background indicates Bull is in control
2 - RED Bar and RED background indicates Bear is in control.

LENGTH of the bar indicate the strength of Bull or Bear.
Normally there's potential BUY if the RED bar turned GREEN and SELL if GREEN to RED.

On top of that, it's also include information about Stochastic momentum to detect
potential Reversal. BLUE bar will appear if :-
1 - Oversold - Stochastic less than 35 (Default value set at 35)
2 - Closing price is higher than last 2 High

Note : Best use with "EMA Indicators with BUY sell Signal"

Notes de version

Remove Star from -ve FiFT BOD signal.

Notes de version

Bug fix : FiFT change with different candle type.
Standardize signal to avoid confusion : OB = Overbought, OS = Oversold.

Notes de version

Code Clean up

Notes de version

Simplify the code to focus on volume only instead of integrating Volume and Pirce

Script open-source

Dans l'esprit de TradingView, le créateur de ce script l'a rendu open-source, afin que les traders puissent examiner et vérifier sa fonctionnalité. Bravo à l'auteur! Vous pouvez l'utiliser gratuitement, mais n'oubliez pas que la republication du code est soumise à nos Règles.

kgiap123

Contact me to learn Turtle Trading System, MCDX and other indicators (t.me/SgxFx)

tradingview.com/script/mbiUr95n-MCDX-Plus/
tradingview.com/script/mcAidXIT-FiFT-Pro/
tradingview.com/script/viAR3Ilo-Trend-Sign

Aussi sur:

Clause de non-responsabilité

Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.

Script open-source

kgiap123

Aussi sur: