BC MFI
Saved by @SAnngeri

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
Subhadip Nandy
@SubhadipNandy16
Views, buy/sell signals, entry systems are over rated.

Execution and trade management skills are under-rated.

A thread

You buy 4 lots of TataConsmr 710 CE at 24, SL 18
( Risk = R = 6 points)

TataCon 710CE goes upto 30. What do you do ?

( this is where the 4 lots minimum comes into play)

1. You sqoff 2 lots. rest 2 you put SL at 24

2. You sqoff 2 lots, you put 1 lot SL at 24, another lot at 18
3. You sqoff 2 lots, sell 2 lots of higher strikes CE , say 730/740 and covert to a bull spread

In all the cases, you have taken some profit off the table ensuring you do not lose money on this trade while keeping yourself open for more profits in case it goes up more.
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Subhadip Nandy
Subhadip Nandy
@SubhadipNandy16
The most common problem faced by day-traders and it's easy solution which is extremely difficult to implement.
A thread.
( uses concepts I have discussed many times before in separate threads)

Problem : I have a good system, I understand charts and/or price action, but I simply can't make money. I hold my losses too long or ( this is most common) I get out of profitable positions too fast and cannot sit for the whole move

At many firms at NASDAQ, day-traders are seen as elite sportspersons playing in a difficult taxing game. That's why, they have regular sessions with sports psychologists. They are advised to follow the basic routine of sportspersons.
Train ---- Play tournaments --- Rest

The cycle repeats

We retail day-traders here neither rest nor train.

Rest = taking time off markets
Train = trading in markets in training mode

Understanding REST is easy, simply take time off markets and spend time with family or do something you love
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Subhadip Nandy
Subhadip Nandy
@SubhadipNandy16
Options and their price action analysis.
Read 👇👇
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Subhadip Nandy
Subhadip Nandy
@SubhadipNandy16
@Random37938918 @nuraniraj This is a paid course, extremely economically priced. This covers MFI in detail, check if you are
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Subhadip Nandy
Subhadip Nandy
@SubhadipNandy16
Study this thread and then check the VIX charts and Nifty charts from 1st Oct 2018. There is a reason I am retweeting this now :)
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