Today, let's talk about a weighted price-volume indicator: Qianlong Long-term Indicator LON. I mainly use it to observe recent capital trends and assist in judging trends, which also helps me to be less anxious about short-term fluctuations.
I have written the code and placed it at the end of the article. Let's start with the indicator search entrance.
After loading onto the candlestick chart, its appearance is somewhat similar to MACD.
LON was originally used in the stock market, and I have also applied it to digital currencies. Below, using the graph from the teaching session on October 26, 2026, let's see how it reflects market changes.
When looking at the chart, I will focus on three parts. The zero axis is used to help judge the direction of the trend.
The red and green pillars allow observation of the color and changes in the pillars.
There is also the long and short cycle dual lines, mainly looking at their cross for buy points later.
How to specifically look at buy points? Below the zero axis, when the short cycle line crosses above the long cycle line, I will take it as the observation starting point for building a base position. First, let's look at the BTC five-minute chart. This golden cross, circled, appears at a relatively low point in this market segment.
The later golden cross in the chart also saw a small rebound, but the strength was not as great.
After establishing the base position, I will also look at the conversion of the red and green pillars, using it as a reference for considering appropriate additional positions and observing whether the trend continues. The positions of the pillar switches are marked in the chart.
Next, let's switch to the ETH five-minute chart and see the same observation method.
The rise measured in the chart is approximately 1%. This represents the performance of this segment of historical trends.
After looking at the shorter cycles, let's switch to the BTC four-hour chart. In the enlarged cycle, the signals also have successes and failures.
In another successful case, there indeed emerged a fairly large increase afterward. But when looking at the two charts together, it becomes apparent that not all golden crosses behave as expected.
For me, the value of LON is that it provides one more tool to observe trends and capital movements. On the chart, I need to observe the emerging market trends while also remembering the failed signals.
This time, I am using the long position approach from the stock system without elaborating on a separate short-selling strategy. The selling portion also did not completely detail the dual line signals, so I will not rigidly supplement the rules here.
I also looked at the Hyperliquid gold perpetual candlestick: during the demonstration on October 26, 2026, the four-hour level just formed a golden cross, and the fifteen-minute level's golden cross had also just formed not long ago. This refers to the signal state at that time.
The complete code is provided below for everyone's convenience to import. It's important to distinguish: what has been discussed is the observation method for the dual lines crossing below the zero axis, this code actually implements entry when Lon is greater than 0 and exit when it is less than 0. The triggering conditions for the two are different, and the code is kept as is.
// @version=2
// Get the closing price of the previous candlestick
LC = close[1];
// Calculate the sum of the trading volume over 2 cycles, divided by the difference between the highest and lowest prices over 2 cycles
volTotal = sum(volume, 2)
highTotal = highest(high, 2);
lowTotal = lowest(low, 2);
VID = 100 * volTotal / (highTotal - lowTotal)
// The difference between the closing price and LC, multiplied by VID
RC = (close - LC) * VID;
// Sum all RC values across the candlesticks
LONG = cum(RC);
// 10-period exponentially weighted moving average of LONG
LONGMA1 = ema(LONG, 10);
// 20-period exponentially weighted moving average of LONG
LONGMA2 = ema(LONG, 20);
// Long-term indicator: the difference between LONGMA1 and LONGMA2
Lon = LONGMA1 - LONGMA2;
// MA1 is the 10-period average of LONG
MA1 = ma(Lon,10)
// LONGMA: Average of Lon over N periods
LONGMA = ma(Lon, 30);
// Plot MACD on the chart
plot(MA1,title="MA1")
// plot(Lon, title='Lon', color='#952626', lineWidth=1, lineDash=[0], display=true );
plot(LONGMA, title='LONGMA', color='rgba(255,0,0,1)', lineWidth=1, lineDash=[0], display=true );
plotColumn(Lon, title='LonT');
// Create alerts
alertcondition(Lon > 0, title='Long-term Indicator Signal', direction='buy');
alertcondition(Lon < 0, title='Long-term Indicator Signal', direction='sell');
// Create trading strategy
enterLong(Lon > 0, price='market', amount=1);
exitLong(Lon < 0, price='market', amount=1);
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