Background As requested by my friend, this is a China A share version of RS MSFIELD. When a wave of market conditions in the China A Share market comes, how do you choose which China A Share target to operate?
Function The function of this indicator is to compare the strength of a single target with the strength of the China A Share market. For any China A Share, if its strength is lower than the rise of the China A Share index, then this target is a manifestation of weakness, and you can short it at this time. On the contrary, if a single target rises higher than the China A Share index, then it may be the leader of this wave of market. Therefore, in a bull market, those indicators that are stronger than the China A Share market should be our long-term targets; in a bear market, Those indicators that are weaker than the China A Share market are all short-selling targets that we should pay attention to.
Its specific use method is as follows: 1. If the market is in the recovery period at the end of the bear market, the indicator can approach 0 from below 0. Its direction is continuously upward, which means that the target is in a rebound market and can be long. If the rising market continues and can maintain a strong market for a long time, the indicator must be in a strong area above the 0 axis. In the same way, the bear market adopts a strategy below the 0 axis. 2. If you want to achieve a stable transaction, the buying point for long positions must be above the 0 axis, and the selling point for short positions must be below the 0 axis. 3. If the retracement falls below the zero axis in the bull market, it means that it is not a market relay, but a market reversal. 4. This indicator does not provide specific buying and selling points, but can only provide a reference relative to the China A Share market. The specific buying and selling points and trends still need to be realized in conjunction with other technical indicators.
I distinguish the trend strength by color, which can be interpreted corresponding to RSI 0-100: 1. Deep Bear 0-20, blue 2. Bearish 20-40, green 3. Shock market 40-60, yellow 5. Bullish 60-80, red 6. Deep Bull Market 80-100, Fuchsia
Remarks This indicator ONLY works for China A share which contains local market index info. It cannot work for other trading pairs. This indicator DOES NOT provide long/short entry points. You need combine other indicators to trade. Feedbacks are appreciated.
Questo script è pubblicato con codice protetto, ma puoi comunque usarlo gratuitamente. Mettendolo tra i preferiti potrai applicarlo al grafico, senza però la possibilità di visualizzare o modificare il codice sorgente.
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