[blackcat] L3 Banker Fund Flow Trend Oscillator

9 ott 2020

Level: 3

Background
The large funds or banker fund are often referred to as Whale. Whale can have a significant impact on the price movements in various markets, especially in cryptocurrency . Therefore, how to monitor Whale trends is of great significance both in terms of fundamentals and technical aspects.

Function

[blackcat] L3 Banker Fund Flow Trend Oscillator can give you a model of complete banker fund flow operation in cycles. Although the script is not so complicated, it is comprehensive to disclose the price trend. That is the reason why I list this as Level 3. Each cycle of banker fund flow may have 5 steps in max as entry, increase position, decrease position, exit, and weak rebound for exit.

Key Signal

1. banker fund entry with yellow candle

2. banker increase position with green candle

3. banker decrease position with white candle

4. banker fund exit/quit with red candle

5. banker fund weak rebound with blue candle


Pros and Cons

Pros:

1. Model banker fund behavior in complete cycles
2. Overbought and oversold can be directly observed due to oscillator nature
3. the transition points are clear for entry or exit


Cons:

1. Simple modelling, no further complex behaviors can be disclosed
2. trade by trend following the banker fund, it is still under the trend analysis prerequisite

Remarks

I believe you will like this one.

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.

25 ott 2020

Note di rilascio

This new release add Alerts on Yellow, Green, White, Red, Blue Candles

27 mar

Note di rilascio

OVERVIEW This script implements the L3 Banker Fund Flow Trend Oscillator, providing insights into market trends through specific indicators and signals.
FEATURES

Calculates Banker Fund Flow Trend, Bull Bear Line, and Entry Signal.
Uses colored candles to indicate different trading scenarios: entry, increase/decrease positions, exit, and weak rebounds.
Includes overbought and oversold thresholds for better risk management.
Features customizable alerts for each type of candle event.
HOW TO USE

Import the script into TradingView.
Adjust settings if necessary using the inputs tab.
Observe the oscillator plot below the main chart.
Utilize candle colors and alerts to make informed trading decisions.
LIMITATIONS

Performance may vary across different asset classes and timeframes.
Relies heavily on historical data accuracy; backtesting recommended before live use.
NOTES

The script uses custom functions like find_recent_value and calculate_weighted_simple_average.
Candles represent potential trades but do not guarantee profits.
Always consider combining this indicator with other analysis tools.