BC MFI

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Subhadip Nandy
@SubhadipNandy16 3 years, 9 months ago 797 views

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A short thread on #MFI

The basics here :

Technical analysis says two things :
1. Momentum precedes price
2. Volumes precedes price

So, if an indicator includes momentum and volume analysis, it will be a leading indicator to some extent. This is the crux why I am so much confident on MFI

The indicator can be used for swing as well as day-trading. I use a period of 10 as I have seen that being our responsive to our markets here

Trendlines drawn on MFI or patterns might not be visible on price, normal trendline trading rules apply.

Divergences work and so does patterns

One can use MFI as a stand alone tool or as a supporting tool with other indicators

My indicator on divergences used codes was not allowed by tradingview ( future looking in a protected code). Tradingview has a good built-in divergence indicator which I have simply modified by plugging in MFI in place of RSI.

Since the original code here is not mine, publishing it as open source

https://t.co/uPQHQMr11o

Clicking inside the settings shows the hidden divergences also. Normally shows the standard divergences

Consider this a guru-purnima return gift. Play along with the code, study the indicator well and make it a part of your arsenal 🙏

If this also gets taken down, here is the code. Save it as your own indicator and use in future :

https://t.co/YflapyCfOe

Inside the code, substitute the MFI with any other indicator like RSI or MACD etc, the divergences will be plotted for them too

More from Subhadip Nandy

Subhadip Nandy
@SubhadipNandy16

Since lot of discussions on ITC, had a simple look at the chart. With each passing day, the probability of a large breakout increases. Watch the behaviour of MFI, but wait for prices to trade above the trendline with volumes

Subhadip Nandy
@SubhadipNandy16

Will start this thread with a disclaimer. I have never invested a rupee in cryptos 😀

But I have studied bull and bear cycles and financial bubbles extensively. Saw 1992, 2000, 2008 with own eyes. The first one as a novice, the next two when I knew to analyze

The amount of chatter I am seeing in friends, family and social media about cryptos has gone through the roof. For everyone, it's a dream to make 100x or even 1000x easily. Basically, become stinking rich easily
( it never happens )

In any financial bubble, the top is made in extreme speed and violence. The distribution happens on the way down. Unless one saw the rates of 65k on bitcoin, one wouldn't buy at 30-35k or 20k. That 65k is an anchor point which leads to greed

During the tulipmania, a single piece of tulip reached a price of $750,000 in today's money. When we see that history, we think "what idiots". But consider this, as of now meme coins generated by someone in their garage are being traded at absurd prices

Then there is this joke called NFT. A piece of "digital art" basically made by someone on their computer ( who is not even a known artist) are being sold for millions of dollars

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Subhadip Nandy
@SubhadipNandy16

Trend Ratio suggests major long positions has been built into Nifty and BNF over the weekend. If tomorrow we trade above the upper levels, stay bullish. Break of the Balance levels will mean these longs are trapped and can lead to fast downsides

Will not be in markets tomorrow due to some personal work, hence posted this today.

Nifty short covering on Friday given the strong move in Nifty fut is obvious. But what's interesting is the huge short covering on BNF with only 0.5% upmove in price. Morning should be bullish, then watch out how the OI behaves

Lastly, all the calculations for Upper/Lower/Balance/Trend Ratio are my own development and I won't share the formula or process. So request stop asking me about those. Thanks.

Working on two quantitative logic to analyze intraday trend and volatility. Nifty fut and BN fut charts attached.
Intraday Trend :: Blue = Uptrend , Red = Downtrend , Yellow = No Trend

Intraday Volatility :: Red = Volatile , Yellow = Normal , Gray =Quiet

Subhadip Nandy
@SubhadipNandy16

When I first started learning different option strategies, long straddles seemed the easiest and the way to riches without any significant risk.

Simply buy a CE and PE of same strike before an event, whichever way rhe stock moves post event you make money

But real life is a tougher place, so this did not work in practice 🤣

Vols went up before event pricing in the risk, and since vols over estimate event impact in general, majority of the time there is a vol crush post event and straddles lose money. ( this is why sellers sell)

But the markets now is a strange place. Vols refuse to go up before an event. We have GDP data today evening and Gujarat election results within next weekly expiry. The cost is 1.3% of Nifty for the next week straddle with 8DTE .

So whoever is selling this straddle does not expect Nifty to move 1.3% from here, either up or down within next Thursday? Does not make sense.
Vols not rising before event makes it a no brainer to buy this straddle

With vols not going up before event and with such low vols, chances of further vol crush are slim. Plus, even if markets now go up further, I think traders will get a bit nervous/fearful pushing vols up.

Let's see whether my thesis works out 🙏

Subhadip Nandy
@SubhadipNandy16

Sharing one of my contra views. Adani Ent fut has had massive rise in cumulative OI and there has been a price brkout outside the range today. This means bears are trapped. Longs, whoever they are , are so strong that Adani has not sold off in this market mayhem (1/n)

If Nifty today sells off at SGX , bears will get more confidence to short tomorrow morning or will wait, they will not sqoff. I am expecting Adani to propel upto 160 very fast (2/n)

I will be using my day-trading system and my option strategies ( already in butterfly at 160) to trade this view. This stock is massively volatile with large bid-ask spreads and moves in jerks. Trading Adani requires skill, not for the faint hearted or slow traders (3/n)

I will be trading a major part thru options, continuously adjusting my positions as new data comes in, will be using my systems. Will use V_scalper to scalp futures. How you trade this is your issue, I WILL NOT provide any followup(4/n)

Forced to issue the last disclaimer because I seriously get affected by DMs from traders who cannot handle options positions or futures. Asking me about this in market hours will lead to immediate block . Best of luck (n/n)

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