[blackcat] L2 Banker Fund Trajectory for IndiceLevel: 2
Background
This script creates a model of banker fund (whale) with yellow and fuchsia candles. I use blue waves (b5) to detect oversold and overbought, which is more sensistive than candles.
Function
Use composite banker fund trajectory oversold and overbought for long and short entries, which works better for indice trading pairs
Key Signal
j --> banker fund fast line
a2 --> banker funder slow line
support --> dynamic support levels
resistance --> dynamic resistance levels
long --> oversold long entry
short --> overbought short entry
Pros and Cons
This script is suitable for indice trading pairs. It will not work so well for other trading pairs due to overbought and oversold is not as stable as an index trading pair
Remarks
You feedbacks on index trading pairs are appreciated.
Readme
In real life, I am a prolific inventor. I have successfully applied for more than 60 international and regional patents in the past 12 years. But in the past two years or so, I have tried to transfer my creativity to the development of trading strategies. Tradingview is the ideal platform for me. I am selecting and contributing some of the hundreds of scripts to publish in Tradingview community. Welcome everyone to interact with me to discuss these interesting pine scripts.
The scripts posted are categorized into 5 levels according to my efforts or manhours put into these works.
Level 1 : interesting script snippets or distinctive improvement from classic indicators or strategy. Level 1 scripts can usually appear in more complex indicators as a function module or element.
Level 2 : composite indicator/strategy. By selecting or combining several independent or dependent functions or sub indicators in proper way, the composite script exhibits a resonance phenomenon which can filter out noise or fake trading signal to enhance trading confidence level.
Level 3 : comprehensive indicator/strategy. They are simple trading systems based on my strategies. They are commonly containing several or all of entry signal, close signal, stop loss, take profit, re-entry, risk management, and position sizing techniques. Even some interesting fundamental and mass psychological aspects are incorporated.
Level 4 : script snippets or functions that do not disclose source code. Interesting element that can reveal market laws and work as raw material for indicators and strategies. If you find Level 1~2 scripts are helpful, Level 4 is a private version that took me far more efforts to develop.
Level 5 : indicator/strategy that do not disclose source code. private version of Level 3 script with my accumulated script processing skills or a large number of custom functions. I had a private function library built in past two years. Level 5 scripts use many of them to achieve private trading strategy.
