MCDX Plus is an indicator to show the relative level of Profitable Chips, Floating Chips and Locked Chips for Stocks market.
Red Bars being Profitable Chips, Yellow Bars being Floating Chips and Green Bars being Locked Chips.
Profitable Chips represents investments, typically by bankers, accumulating shares when stock price is relatively low over a period of time, either during down trend or ranging. When price is moving up, the shares accumulated will start to make profit.
Locked chips being those bought at at a higher price, failed or unwillingly to cut loss and still holding them.
Floating chips being free flow tradable shares in the market, typically hold by intraday or short term traders.
The relative profitable level is calculated based on current market price versus the highest and lowest price over a look back period.
Typically, 100 days look back, which is sufficient to cover uptrend or downtrend.
In this indicator, I added in options for 34 days (Fibo numbe), 50 days, 100 days and user-input DIY look back period.
When Red Bar height is increasing, profitable level is increasing, stocks price is increasing with main funding is increasing.
Typically higher is better. More than 50% is preferred.
During a retrace or downtrend, the locked chips will lead to higher values of green bar.
Typically lower is better, 0 is preferred.
A simulated fund line (based on KDJ) and fund bull bear line are added to simulate the inflow and outflow of fund.
When fund line cross up bull bear line, it means the in flow of funding.
User can click to show in the setting.
A potential bottom catch alert based on volume and oversold situation are also added as reference.
A table with indicator name and values of profitable chips, floating chips and locked chips is added.
User can click to show or mute.
MCDX Plus is shown on DPIH (KLCI).
The Price chart shows the highest, lowest, average of 100day look back period, blue line being MA20.
MCDX's red bar is slightly over 50%, cross over the 10day Moving Average of profitable chips. Locked chips is 0.
We can also see fund cross over fund bull bear line briefly.
It is a positive movement.
User is recommend to do further technical analysis such as support and resistance, etc, to better understand trend.
Ideas to improve the scripts are welcome. Hope this help.
Red Bars being Profitable Chips, Yellow Bars being Floating Chips and Green Bars being Locked Chips.
Profitable Chips represents investments, typically by bankers, accumulating shares when stock price is relatively low over a period of time, either during down trend or ranging. When price is moving up, the shares accumulated will start to make profit.
Locked chips being those bought at at a higher price, failed or unwillingly to cut loss and still holding them.
Floating chips being free flow tradable shares in the market, typically hold by intraday or short term traders.
The relative profitable level is calculated based on current market price versus the highest and lowest price over a look back period.
Typically, 100 days look back, which is sufficient to cover uptrend or downtrend.
In this indicator, I added in options for 34 days (Fibo numbe), 50 days, 100 days and user-input DIY look back period.
When Red Bar height is increasing, profitable level is increasing, stocks price is increasing with main funding is increasing.
Typically higher is better. More than 50% is preferred.
During a retrace or downtrend, the locked chips will lead to higher values of green bar.
Typically lower is better, 0 is preferred.
A simulated fund line (based on KDJ) and fund bull bear line are added to simulate the inflow and outflow of fund.
When fund line cross up bull bear line, it means the in flow of funding.
User can click to show in the setting.
A potential bottom catch alert based on volume and oversold situation are also added as reference.
A table with indicator name and values of profitable chips, floating chips and locked chips is added.
User can click to show or mute.
MCDX Plus is shown on DPIH (KLCI).
The Price chart shows the highest, lowest, average of 100day look back period, blue line being MA20.
MCDX's red bar is slightly over 50%, cross over the 10day Moving Average of profitable chips. Locked chips is 0.
We can also see fund cross over fund bull bear line briefly.
It is a positive movement.
User is recommend to do further technical analysis such as support and resistance, etc, to better understand trend.
Ideas to improve the scripts are welcome. Hope this help.
Release Notes:
Per user request, added 10 day average plot for
- float chips (orange color) and
- locked chips (green color, thicker line)
- on top of existing 10 day average line for profitable chips (maroon color, thinnest line)
Feel free to provide input/comments to further improve the scritps for the benefits of users.
Hope this help.
- float chips (orange color) and
- locked chips (green color, thicker line)
- on top of existing 10 day average line for profitable chips (maroon color, thinnest line)
Feel free to provide input/comments to further improve the scritps for the benefits of users.
Hope this help.
Release Notes:
Updated scripts : added oversold, overbought alerts, allow input of lookback period for moving average of profitable chips, floating chips, locked chips respectively. See example of oversold alerts of attached chart.
Ideas are welcome to further improve the accuracy of indicator which will benefit users. Thanks.
Ideas are welcome to further improve the accuracy of indicator which will benefit users. Thanks.
Release Notes:
Fixed the bugs in the calculation of floating chips bars go beyond 100%. (Thanks thedenimbar for pointing this out). Hope this help.
Ideas/comments to further improve the accuracy of indicators to beneftis users are welcome.
Ideas/comments to further improve the accuracy of indicators to beneftis users are welcome.
Release Notes:
revision 5, 4Oct21
- adjustable table text/size
- adjustable locations of bottom catch/oversold/overbought alerts
- cosmetic setting arrangement
- added bottom catch 2
- adjustable table text/size
- adjustable locations of bottom catch/oversold/overbought alerts
- cosmetic setting arrangement
- added bottom catch 2
Release Notes:
Revision 6 Update, 20 Oct 21 : added source options per user request. Scripts updated to version 5. Hope this help.
Release Notes:
Revision 7 Update, 21 Oct 21 : fixed the source input bugs, added Open, HL2, HLC3, OHLC4, on top of default input Close. Comments/Input are welcome to further improve accuracy of indicator. Thanks.
Release Notes:
Revision 8, 24Oct21 : source input now allows users to input the indicator as they see fit ( This is not recommended as the scripts is developed based close price. Users can choose to use, open, high, low, HL2, HLC3, OHLC, as they see fit.). Fund simulation is added.
Disclaimer : chart used is meant to illustrate the use of indicator, no recommendation of buy/sell.
Disclaimer : chart used is meant to illustrate the use of indicator, no recommendation of buy/sell.
Release Notes:
revision 9, 4Apr22, Update on Input Setting to ease user input.
1. Tooltip on Table added. User can move the cursor to each Table Cell to show the description.
2. Added Auto MCDX options, enable MCDX starts to show on 3rd day from IPO. Removed MCDX 34-Day options since Auto MCDX added.
3. User can use Manual Input to input the MCDX Length as they see fit. Alert will show if user input unacceptable length.
4. User can turn on to show All Chips or Profitable Chips Only or Float Chip Only or Locked Only
5. User can turn on Simple Moving Average of Profitable Chips, Float Chips, Locked Chips as they see fit.
6. Default show Simple Moving Average of Profitable and Locked Chips. User can turn on SMA Float Chips if needed.
7. Golden Cross, Death Cross Added. Text Size and Location Adjustable. Alert Conditions Added
8. Bottom Catch, Oversold, Overbought Alert Text Size and Location Adjustable. Alert Conditions Added
9. Bar Number Tooltip of Current Bar. User can move the cursor to current bar to show the bar number.
Disclaimer : Chart used is for Indicator illustration purpose. No recommendation of buy/sell.
1. Tooltip on Table added. User can move the cursor to each Table Cell to show the description.
2. Added Auto MCDX options, enable MCDX starts to show on 3rd day from IPO. Removed MCDX 34-Day options since Auto MCDX added.
3. User can use Manual Input to input the MCDX Length as they see fit. Alert will show if user input unacceptable length.
4. User can turn on to show All Chips or Profitable Chips Only or Float Chip Only or Locked Only
5. User can turn on Simple Moving Average of Profitable Chips, Float Chips, Locked Chips as they see fit.
6. Default show Simple Moving Average of Profitable and Locked Chips. User can turn on SMA Float Chips if needed.
7. Golden Cross, Death Cross Added. Text Size and Location Adjustable. Alert Conditions Added
8. Bottom Catch, Oversold, Overbought Alert Text Size and Location Adjustable. Alert Conditions Added
9. Bar Number Tooltip of Current Bar. User can move the cursor to current bar to show the bar number.
Disclaimer : Chart used is for Indicator illustration purpose. No recommendation of buy/sell.
Release Notes:
revision 10, add alert conditions of Profitable Chips crossover SMA of Profitable Chips. User can choose the alert at the Create Alert.
disclaimer : chart used is for illustration of indicator. No recommendation on buy/sell
disclaimer : chart used is for illustration of indicator. No recommendation on buy/sell