Ankit_Quant

Dynamic by db.capital-NSE

Motivation

The momentum feature is well known and researched in the market. Momentum trades/signals often result in out sized positive returns when trades go well in their favor. At the same time, almost all momentum methods/signals suffer from frequent, small and multiple losses.

Dynamic indicator/system is a proprietary systematic method designed to capture momentum on Indian Indices of NIFTY and BANKNIFTY

It aims to identify bullish / bearish patterns in a systematic manner and uses volatility adjusted entry levels and trailing points. The method employs a proprietary method to filter out market noise from an underlying trend to ensure whipsaws arising from a trend-following method are removed.

The expected outcome of using this is to improve risk adjusted returns on Nifty and Bank Nifty .

Trade Usage

The indicator can be used either as a standalone indicator/method or can be used as an additional confirmation to user’s Long/Short method.

Time Frame
This is configured for use in swing trading and thus should be used on under 60 Minute charts. If trading standalone method, then it is not recommended to go below 15 minute chart due to high trading costs that may be incurred while trading.
Our preference is to use a 30 Minute chart to balance the trade-off adapting to changing market dynamics quickly and trade costs.

Elements of the indicator
BUY/SELL markers - They depict the BUY/SELL at the open of that bar. The set up is ready at the bar prior.
A ready BUY set up is depicted by Green vertical bar. A ready SELL set up is depicted by Red vertical bar.

Potential Adds
There might be instances where a vertical green bar shows when system is already Long/ Bullish . This is where system identifies a continuation of the bullish trend . Risk averse traders can skip any action on this bar and risk seeking traders can add (scale-in) to their existing position.
Similarly, a vertical red bar can sow when system is already Short/ Bearish and can be used to scale-in for risk seeking traders.

How to obtain access?
Please PM the publisher of script to request access.
Release Notes: Update 19-Dec-20

Added labels of SAR to Buy and SAR to Sell

SAR to Buy: - Stop And Reverse to Buy - This happens when we are in a Short trade and want to reverse to Buy. Effectively two orders are to be executed - Exit out of Sell and Entry into Buy
SAR to Sell: - Stop And Reverse to Sell - Similar to above - Reversing Long into Short
Release Notes: Updates:
- The indicator now shows a Stop Loss level as RED Line
- Current position is shown in a label on the right of current price
- Stop Loss level is shown with value
Release Notes: Minor bug fix after most recent release.
Remove from Favorite Scripts Add to Favorite Scripts
Get access to the Tradingview Indicators and Strategies from http://www.db.capital

Comments

Hi Ankit, thanks for the access. I noted this seems to work on Nifty Index but not on Nifty Futures chart. Any particular reason for that?
Looks promising btw!
+2 Reply
@kdd883, Yes. I had done a bit of research on that too. The system was designed to capture momentum on the indices. As a constituent basket, Nifty and BankNifty provide best opportunities to capture a trend and momentum. Further, continuous future time series are not always to create. For example - I would never recommend staying in a monthly future with less than 2 days to expiry and would often suggest rolling over to next month a day before expiry. However, a continuous future series would not roll over and let the time series expire on Thu and start accepting prices from Friday on new contract. To check if any system has an edge in market, I always test it on indices itself (and not derivatives).

Secondly, the same underlying signal would work both on Futures and Options, depending on how a trader wishes to take exposure in the market. If you look at past trades, the system stays in trades for fairly long periods and thus those with knowledge of option selling can take spread exposure. For others a simple futures or option buy exposure can work too. That is why I did not activate the visual signals on the futures and only show them on indices. The performance on futures/options would be similar to that of Index.

Hope this helps.
Reply
Hey! Ankit. I am facing an issue with the script. The buy and sell vertical bars and the green/purple/orange both are not visible for 30 min Nifty chart. However, they are visible for the Daily charts. Please help me out with this.
+1 Reply
Ankit_Quant Ronak_Vishnoi
@Ronak_Vishnoi, We do not see an issue at our end. Are you using it on NIFTY INDEX? Can you also check BankNifty Index? At times the first time loading the indicator, it takes a few seconds to load depending on your internet speed. If nothing works, please DM me a screenshot of what you see. You can DM either here or on Twitter.
Reply
If you are having trouble viewing this on your chart, please ensure the following:

1. Indicator is applied on Index (NSE:NIFTY or NSE:BANKNIFTY). It won't show up on any other script. Do not use Futures chart.
2. If a recent update has been published, delete the existing indicator on chart and apply it again. This can be found on "Invite-Only" section that opens up when you click on Indicators.
2. If it shows on Daily chart but not on intraday, follow the following steps:
a. Go to Settings Gear (on top right of the chart) to open Chart Settings
b. Select "Symbol" in left pane.
c. Uncheck the box that reads "Extended Hours (Intraday Only)"
Reply
Hey Ankit, I have got access to indicator But it does not seem to work. I have loaded the indicator but I am unable to see any signal
Reply
Ankit_Quant Arpitspeaks
@Arpitspeaks, Please check if you are using it on Index and not on Futures. Also, try deleting it and reattaching it from Invite Only Scripts section. I just checked at one of the subscriber account and it seemed to be working fine on it.
Reply
Arpitspeaks Ankit_Quant
@Ankit_Quant, I am using it only on Index. It shows signal on daily charts but not on lower timeframes. Also I noticed it only shows on daily charts of Nifty/ Banknifty not on other symbols. Are there any restrictions?
Reply
Ankit_Quant Arpitspeaks
@Arpitspeaks, The indicator is currently only designed for Nifty and BankNifty. It wont work on other scripts. I just checked the access on a completely new free account and it worked correctly. Try searching for Symbol "NSE:NIFTY" to ensure you are on the right symbol. I could see it working on 1H, 5M, 30M, 15M charts absolutely fine. What timeframe are you trying to use?
Reply
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