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How to read Doji & High-Wave candles?

November 27, 2021

How to read Doji & High-Wave candles?

Doji and high wave candles is the topic we have missed to discuss so far, which we will be covering in this episode.

There are different types of doji formations.
Plain doji indicates balance and not imbalance in price and represents the indecision in the market. Same is applicable for Long Legged Doji as well, but in long legged doji, the zone formation is different.

In this case, we cannot include both the wicks together while drawing zones, as the wicks are too long. From a price action perspective, long legged doji also represents balance and not a good imbalance

AMIBroker AFL Data Feed – October 2021

November 25, 2021

AMIBroker is one of the most famous Algo-Trading Tools available in the market today, which uses AFL Scripting. We can use AMIBroker to create, back-test and deploy and strategy. This post is the placeholder for sharing AMIBroker AFL Data Feed for October 2021. Note: These files contain data feed up-to 1 minute. We are providing…
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How I turned 1 Rupee into 17 Lakh Rupees in 2 Years?

November 23, 2021

How I turned 1 Rupee into 17 Lakh Rupees in 2 Years?

This post is about my favourite Stock – TANLA. If you are following us from last 2-3 years, you will already know TANLA is one of my favourite stocks. I have posted at least 20-30 times in the last few years about my investment in TANLA and how I’m handling it.
Before we get into the details, you should understand “How the Professional Investor Invests their money”.

How to trade Pennant Pattern?

November 20, 2021

How to trade Pennant Pattern?

Pennants are drawn with two trendlines that eventually converge. A key characteristic of pennants is that the trendlines move in two directions—that is, one will be a down trendline and the other an up trendline.

Different parts of Pennant pattern
There are three major parts which forms this pattern.
1. Raising up-trendline – A up-trendline, which is raising, indicating buyers are not willing to let the price go down
2. Falling down-trendline – A down-trendline, which is falling, indicates sellers are not willing to let the price to rally
3. Price Sandwich – Price should be sandwiched or trapped between the up and down trendlines, making a price consolidation.

How to create algo for Stochastic DK strategy?

November 13, 2021

How to create algo for Stochastic DK strategy?

In this episode , we are going to learn how to code Stochastic DK strategy.
Let’s get into the set-up.

Condition:
We have 2 conditions for Buying/Selling. Stoch should be above/below specific level and there should be a stoch crossover
Buy: When Stoch K is less than 15 and Stoch K crosses above Stoch D
Sell: When Stoch K is above 85 and Stoch K crosses below Stoch D

Limit of 15 or 85 is just a placeholder for oversold and overbought conditions and can be adjusted dynamically.

Why Petrol & Diesel prices will stay above 100 in India forever?

November 9, 2021

Why Petrol & Diesel prices will stay above 100 in India forever?
• Currently Petrol & Diesel are hovering around 100 & 90 rupees in India and I strongly believe the prices will remain around or above these levels forever. In simple terms, 3 digit fuel price is here to stay. Let’s understand why.

Is SPAC, The Next Bubble? Will it be the Trigger for next stock market crash?

October 30, 2021

What is SPAC?
SPACs, or special purpose acquisition companies, raised around 300 billion dollars in 2021 so far. These are “blank check” shell companies that have no operations or business plan other than to acquire a private company using the money raised through an IPO, thereby enabling the private company to go public quickly.

How to draw trendlines methodically for Continuation Patterns (CP)?

October 23, 2021

How to draw trendlines methodically for Continuation Patterns (CP)?

Rules for drawing Trendline for CP:
• Rules for drawing Trendline for CP is different from drawing trendlines for Valley’s and Peak’s.
• Most importantly, A Continuation Patterns can’t be used with valley and peak to form a trendline.
• It’s possible to see CPs before a new valley is printed. They will be irrelevant on how we draw trendlines since we are not allowed to use them to connect trendlines.
• We’ll only use CPs to draw a more aggressive trendline when 3 or more consecutive CPs have been created.
• So, we can create trendlines using 2 valley’s, 2 peaks or 3 CPS. As simple as that. You cannot form trendline using 1 valley and 1 or 2 CPs, likewise you can’t draw trendline using 1 peak and 1 or 2 CPs.
• We can create Trendline if we find 3 CPs in the chart continuously. Once the 3rd CP is created, we’re allowed to draw a more aggressive trendline by connecting them since we’ll consider price is probably over extended.
• Once this agressive trendline is broken, a new supply/demand zone will be created.

How to trade using Triple Bottom Pattern?

October 16, 2021

Different parts of Triple Bottom pattern
There are four major parts which forms this pattern.
1. First Valley – V/U Shaped – The market does a pullback during a downtrend and forms an V/U shape. At this point, there’s no way to tell if the market will reverse because a pullback occurs regularly in a trending market.
2. Second Valley – V/U Shaped – The price gets rejected at the same area, again. At this point, the market makes a pullback and forms a consolidation. This is a first sign that the market could reverse higher. This forms the second V/U shape
3. Third Valley – V/U Shaped – Again, the market attempts to break out lower and fails, again. The price gets rejected at the same area once again. This forms the third V/U shape. Now the 3 “spikes” are visible after 3 failed attempts to break out.
4. The trendline – This is the last line of defence for the sellers. If the price breaks above it, the market could reverse, head higher and begin the start of a new uptrend.
Once you identify the Triple Bottom formation, just draw a straight line at the top which connects swing high of the valley. We will get a technical breakout when the price gives breakout above the line drawn.

How to color code charts and simplify chart reading using amibroker AFL?

October 9, 2021

How to color code charts and simplify chart reading using amibroker AFL?

Colour charts will simplify out work during intraday trading. We can color the candles in such a way that is we see a specific color in the chart, it indicates, we are getting closer to our entries and we need to be alert.
This will greatly reduce our work and also make the charts colourful. This will definitely come in handy in reducing the screentime if you are an active trader and trading everyday for 6-8 hours. Having multiple screens will simplify this even further.
You can play around the RSI setting and colors, you can also make similar colourful charts for any of the indicators you use as well.

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