OPEN-SOURCE SCRIPT
Market Direction Model (developed by Dr. K.)
Market Direction Model (by Chris Kacher as known as: Dr. K.)
(Recommended to be used on Nasdaq Composite Index IXIC or S&P500)
- Follow-Through Day (FTD): Gain >= 2% on higher volume between day 4 and 7 of a rally attempt.
- Distribution Day (DD): Down >= 0.2% on higher volume.
- Sell Signal: When price breaks the low of the 5th distribution day within the last 20 days.
- Market Phases: Accumulation, Markup, Distribution, Markdown with corresponding trading posture.
Never forget: You - only you are responsible for your Trading decisions!
(I built this how I understand the rules of the Dr. K. model - I don´t claim that there are no mistakes)
If you are interested in more Information about Dr. K. and his work:
virtueofselfishinvesting.com
(Recommended to be used on Nasdaq Composite Index IXIC or S&P500)
- Follow-Through Day (FTD): Gain >= 2% on higher volume between day 4 and 7 of a rally attempt.
- Distribution Day (DD): Down >= 0.2% on higher volume.
- Sell Signal: When price breaks the low of the 5th distribution day within the last 20 days.
- Market Phases: Accumulation, Markup, Distribution, Markdown with corresponding trading posture.
Never forget: You - only you are responsible for your Trading decisions!
(I built this how I understand the rules of the Dr. K. model - I don´t claim that there are no mistakes)
If you are interested in more Information about Dr. K. and his work:
virtueofselfishinvesting.com
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.