What’s the Truth Behind the MCDX Indicator and Banker Chip Myth?

What is Tradingview- Trading View is a web hosted platform that provides advanced based charting tools, real time market data and and analysis for traders and investors.

The MCDX later became the most popular chart indicator used on tradingview by Malaysian Users.The face can be seen as slightly abnormal as the feedbacks from other countries are not so popular as the ones in Malaysia.

For now most of the traders and people that believe that the MCDX indicator can observe the flow of the banker fund and is able to understand a change in the banker chip in a particular stock.

MCDX indicator

There are numerous amount of traders that applies MCDK indicators to their charts with the functions this indicator can give.

However, A wrong information can be deemed true as long as it has spread across the public for a long time and many do believe such rumors. That situation is reflected in the MCDX indicator. 

Recently some users in tradingview released their pine script code of the MCDX indicator. This release exposed the truth of the indicator and there is no opportunity for any kind of defense for MCDX.

Let have a look at the Pine script source code:

Those that couldn't meet up with the Pine code will find it difficult to understand, but this code is considered as a short indicator already. 

Just as long as you have skills and understanding in technical analysis, by removing those named Banker, Are there any logics or functions of the lines of code related to the ''Banker Fund'' as to what those users have claimed before?

In conclusion, I don't deny the MCDX  as an Indicator that evaluates the short and long side of a stock. And don't take practice in any deceiving contents like the ''Banker Chip''.

 So next time you encounter someone doing it all wrong and explaining the Banker Chip concept, then all you have to so is show him/her this post.