- It measures the strength of Bull(Uptrend) and Bear(Downtrend). - Bull strength is represented by red bar. - The higher the red bar, the stronger is the trend (Uptrend). - If the red bar exceeds Level 50 and follows by continuous increment, it means that stock is ready to make strong uptrend movement. - If red bar is less than previous red bar, the color will change to pink. This to indicate a decrease in momentum. - The uptrend is considered weak when the black line is higher than red/pink bar.
There are 3 "Buy Signal" from this indicator. I call it SBW : 1. S = Star Icon = is Bottom Catch signal, or also known as Buy on Dip. 2. B = Blue Diamond = when red bar crossover black line 3. W = White Dot = when Golden Cross happen between black line and cyan line ( Bull crossover Bear )
Note : When trader make entry from these signal (SBW), trader needs to consider to exit the trade if the price BREAK either : a- Middle candle where signal SBW trigger ( 1st consideration to exit ) or b- Open Price where signal SBW trigger ( 2nd consideration to exit ) or c- Low Price where signal SBW trigger ( MUST exit )
Others : - Black Line = moving average of Bull - White Dot = moving average of Bear - Alert for 3 signal provided in script
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A. Add in Table Info which will display : 1. Red Bar ( Banker ) value 2. Moving Average Banker ( Black Line ) 3, Moving Average Hot Money ( Cyan Line ) 4. Signal Trigger = either 💠, ⭐ or 🔘