Index investingThe Index Investing indicator simplifies decision-making for adding to Index ETF's Long-term investments. By utilizing a percentage discount methodology, it highlights potential opportunities to enhance portfolios. This straightforward tool aids in identifying favorable moments to invest based on calculated price discounts from selected reference points, making the process more systematic and less subjective.
🔶 SETTINGS
Reference Price: Choose between 'All-Time-High' or 'Start of the Year' as the basis for calculating discount levels. This allows for flexibility in strategy depending on market conditions or investment philosophy.
Discount 1 %, Discount 2 %, Discount 3 %: These inputs define the percentage below the reference price at which buy signals are generated. They represent strategic entry points at discounted prices.
🔶 Default Parameters
The default parameters of 4.13%, 8.26%, and 12.39% for the discount levels are chosen based on the average 5-year return of the NSE:NIFTY Index, which stands at approximately 12.39%. By dividing this return into three parts, we obtain a structured approach to capturing potential upside at varying levels of market retracement, providing a logical basis for the selected default values.
Users have the flexibility to modify these parameters, tailoring the indicator to fit their unique approach and market outlook.
🔶 How Levels Are Calculated
Discount levels are calculated using the formula: Discount Price = Reference Price * (1 - Discount %) . This succinct approach establishes specific entry points below the chosen reference, such as an all-time high or the year's start price.
🔶 How Are the Buy Labels Generated
Buy signals are generated when the market price(Low of the candle) crosses under any of the defined discount levels. Each level has a corresponding buy label ('Buy 1', 'Buy 2', 'Buy 3'), which is activated upon the price crossing below the specified discount level and is only reset at the beginning of a new year or upon reaching a new reference high, ensuring signals are not repetitive for the same price level.
🔶 Other Features
Alerts: The indicator provides alerts for each buy signal, notifying potential entry points at their defined discount levels. The alert triggers only once per candle.
Year Marker: A vertical line with an accompanying label marks the start of each trading year on the chart. This feature aids in visualizing the temporal context of buy signals and reference price adjustments.
Nifty50
NITS - NIFTY INTRADAY TRADING SYSTEMNSE:NIFTY
Hello Traders..!
This is another indicator / system to make use for NIFTY & BANK NIFTY Intra day trading.
This is my Gift to the traders for this New Year 2024. Use this to your Edge and make some profits. All explained below.
NIFTY INTRA-DAY TRADING SYSTEM
Explanation of Arrays:
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## FIRST 15 MIN SESSION BOX ##
From 09:15 to 09:30 where the initial orders will get collected and Auction takes place.
DO NOT engage into any trade in this session. Let the Box develop.
## INITIAL HIGH / LOW FORMATION SESSION ##
This session is from 09:15 to 10:30.
We can observe the Initial High or Low being formed for the day, that is VALID TILL 11:30.
## NO-TRADE ZONE / ACC. AREA / DAY’S H OR L CONFIRMATION SESSION ##
From 11:30 to 12:30
90% of time this is the session where the whole Day’s High or Low will get confirmed. Sometimes the market may violate this Session!
DO NOT engage into any fresh trade in this area.
Once the box is developed, you can see the Mid price line will be formed which is valid for the afternoon Trading session till 15:30.
## SIGNAL LINE, MIDDLE PRICE LINE, SESSION HIGH LOW LINES ##
Middle Price Line – the dotted line (Red colour) is Mid Price Line for the Initial session box. This acts as an important price level for the whole day.
Signal Line – the Solid line that will form after 10:30. Consider this price line as very important price line to which the price reacts with a good momentum, either break through or rejection and valid for the whole trading day.
Session High Low price line – high and low prices of the Initial session box which acts as a good Support / Resistance / Target / Stop loss. Even previous session’s price lines can also be used for the current day too.
## TREND BOX ##
Multi-Time frame trend box will show the real-time trend on different time frames. This box will be very helpful in trade decision. Please note that at least THREE HIGHER TIME FRAME TRENDS must be in the same direction to support your trade criteria for the better confirmation.
## VOLUME IMBALANCE ##
These orange coloured boxes are very tiny imbalances between prices that were formed during price movements. Algorithm will try to fill these imbalances on its way of filling orders. These price imbalances can be used for our edge while taking trades.
SOME TIPS:
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1) Avoid Break out trades
2) Always trade the pull backs
3) Keep your Stops above / below the KEY LEVELS
4) Always follow the Higher Time frame trend while taking a trade.
If you trade in 1m TF consider 5m trend
If you trade in 5m TF consider 1H or 15m trend
5) Consider the higher TF closure of prices only, to validate the break out.
6) Trade what you see, market can do anything it wants.
7) Do not worry about losses. It happens and that is the business.
8) End your trading week in green no matter how big or small the profit is. Consistency is the key this business.
9) Keep in mind that the Market does two things only, either it will FILL THE GAP or GRAB THE LIQUIDITY. Just plan your trades accordingly. Liquidity levels like Previous Session / Day / Week / highs and lows.
10) The Market is a continuous business. It does not end for the specific day. It will not end its Buy or Sell model unless it completes its cycle, hence TRADE WHAT YOU SEE and not WHAT YOU THINK!
11) Unless the key swing high / low is broken and closed, DO NOT consider that move as a reversal. Consider that as a Liquidity grab. And it will continue in its previous trend.
HOW TO TAKE TRADE USING NITS: (one of the Techniques)
--------------------------------------------------------------------------------
As explained above, Do not engage in trade for the first 15 minutes.
Once the 15m box forms then look for divergence between NIFTY and BANK NIFTY.
Both Indices are supposed to trade in the same direction but at key levels and times, these instruments will make DIVERGENCE with its Highs and Lows.
Ex: one Index will make LOW AND LOWER LOW and at the same time other will make LOW AND HIGHER LOW. This deflection can be used for taking Buy Trades.
Ex:
If the Divergence forms at the Bottom then the market will move upwards.
If the Divergence forms at the Top then the market makes down move.
To confirm this divergence, the price will move away from that deflected Lows or Highs.
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POINTS TO OBSERVE
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Mostly the first 15 min range that forms will either be very large candles or normal candles with rejection wicks or Shaved bar (open and H/L same)
Whenever you observe a very large wide range bars within the 15min range, consider the Day’s high and Low is already formed. And the market will be hovering inside that range only. Very useful for taking 50 points scalping here and there by using the signal line and middle line or Acc box mid line. In this scenario you have three important info of the day, OPEN HIGH & LOW established already, The market will only look for its close.
Ex:
If the market trades with normal candles, then consider your trades in two parts.
From 09:30 to 11:30 and from 12:30 to 15:30 as 11:30 to 12:30 will confirm the current day’s High / Low hence do not take a fresh position within that time.
1) Initial session trade – If the price does not break and close the 15 min range high/low, consider it is going to reverse and continue its trend till 10:30
Ex:
2) Mid session Trade – mostly the market accumulates positions and collects orders between 11:30 to 12:30 for the afternoon session. Once the session box is developed, the middle price line will form. Wait for the market breakout and close off this session’s high or low in Higher TF. The market will continue in the direction of breakout from this session and continue till 15:30. Hence wait for pull back till its mid price / high or low price lines of this Acc box and take trade in the initial breakout direction keeping stop above or below the session’s high or low.
Ex:
## Fixed Range Volume Profile as a Tool ##
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Note:
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Kindly do not ask for any codes or script details. The one technique what I explained (Divergence method) is more than enough for making a consistent earnings. Please study and back test / forward test for yourself for atleast 2 weeks time. Every traders aspect and mindset is different in seeing the market movements. Please design your own methodology and CONSIDER this as a BUSINESS..!
JUST.....
Believe the System
Be patient
Be Disciplined &
Be a Successful Earner..!!
LET YOUR ENDS MEET
(Hope I explained well)
NIFTY POSITION ScannerTracking the real-time intraday position of NIFTY stocks is the utility of this price action based scanner. The number of stocks in this scanner is 40 due to TradingView's script limit.
The script takes present day's price range of the stocks (stocks of the Index being tracked included in this screener) into account, to hint strength or weakness in the underlying Index (for example: NIFTY here).
The day's price range of a stock is gauged on a scale of 0-100, where 0 is Day's price low and 100 is day's price high.
If a stock is in 90-100 price range section the cell with title "90" illuminates hinting the stock is trading near day's high.
Likewise, if a stock is in 0-10 price range section the cell with title "10" illuminates hinting that the stock is trading near day's low.
The price range of 10-25 is represented in the cell titled "25"
The price range of 75-90 is represented in the cell titled "75"
Only one cell from the day's range illuminates at a time for a stock, signaling the present position of that stock in the Day's range at that instant.
The script works best above 10 second time frame.
Idea: If majority of the heavy weight stocks of the Index being tracked are trading near Day's high the underlying Index must be going strong at that very instant and Vice versa.
Disclaimer: Only for studying Index movement ideas intraday, trading is not advised.
Also check out the other scripts by me.
-- Dr. Vats
Nifty 50 5mint Strategy
The script defines a specific trading session based on user inputs. This session is specified by a time range (e.g., "1000-1510") and selected days of the week (e.g., Monday to Friday). This session definition is crucial for trading only during specific times.
Lookback and Breakout Conditions:
The script uses a lookback period and the highest high and lowest low values to determine potential breakout points. The lookback period is user-defined (default is 10 periods).
The script also uses Bollinger Bands (BB) to identify potential breakout conditions. Users can enable or disable BB crossover conditions. BB consists of an upper and lower band, with the basis.
Additionally, the script uses Dema (Double Exponential Moving Average) and VWAP (Volume Weighted Average Price) . Users can enable or disable this condition.
Buy and Sell Conditions:
Buy conditions are met when the close price exceeds the highest high within the specified lookback period, Bollinger Bands conditions are satisfied, Dema-VWAP conditions are met, and the script is within the defined trading session.
Sell conditions are met when the close price falls below the lowest low within the lookback period, Bollinger Bands conditions are satisfied, Dema-VWAP conditions are met, and the script is within the defined trading session.
When either condition is met, it triggers a "long" or "short" position entry.
Trailing Stop Loss (TSL):
Users can choose between fixed points ( SL by points ) or trailing stop (Profit Trail).
For fixed points, users specify the number of points for the stop loss. A fixed stop loss is set at a certain distance from the entry price if a position is opened.
For Profit Trail, users can enable or disable this feature. If enabled, the script uses a "trail factor" (lookback period) to determine when to adjust the stop loss.
If the price moves in the direction of the trade and reaches a certain level (determined by the trail factor), the stop loss is adjusted, trailing behind the price to lock in profits.
If the close price falls below a certain level (lowest low within the trail factor(lookback)), and a position is open, the "long" position is closed (strategy.close("long")).
If the close price exceeds a certain level (highest high within the specified trail factor(lookback)), and a position is open, the "short" position is closed (strategy.close("short")).
Positions are also closed if they are open outside of the defined trading session.
Background Color:
The script changes the background color of the chart to indicate buy (green) and sell (red) signals, making it visually clear when the strategy conditions are met.
In summary, this script implements a breakout trading strategy with various customizable conditions, including Bollinger Bands, Dema-VWAP crossovers, and session-specific rules. It also includes options for setting stop losses and trailing stop losses to manage risk and lock in profits. The "trail factor" helps adjust trailing stops dynamically based on recent price movements. Positions are closed under certain conditions to manage risk and ensure compliance with the defined trading session.
CE=Buy, CE_SL=stoploss_buy, tCsl=Trailing Stop_buy.
PE=sell, PE_SL= stoploss_sell, tpsl=Trailing Stop_sell.
Remember that trading involves inherent risks, and past performance is not indicative of future results. Exercise caution, manage risk diligently, and consider the advice of financial experts when using this script or any trading strategy.
NIFTY 50 5mint StrategyThis is an intraday strategy for NIFTY50 Based First candle High and Low breakout.
The strategy takes user inputs for the start and end dates, start and end months, and start and end years, which define the time range to trade. The user can also specify the maximum number of trades to take during the time range and the length of the Exponential Moving Average ( EMA ) used in the strategy
In this strategy, the First candle's high and low are calculated and used as entry and exit points for trades. If the close price breaks above the First candle's high, a buy signal is generated. Conversely, if the close price breaks below the First candle's low, a sell signal is generated.
The strategy uses the Exponential Moving Average ( EMA ) as a filter to close entered positions either long or short, EMA also acts Target. If the close price falls below the EMA, a long position is closed, and if the close price rises above the EMA, a short position is closed or the PreviousCandleClose is above the First candle's high a short position is closed, When the PreviousCandleClose is below the First candle's low a long position is closed, First candle's high act as Stoploss
The strategy limits the number of trades taken within the specified time range, and if the time range is exceeded, all positions are closed.
Finally, the strategy plots the First candle's high and low, EMAs on the chart for visual reference.
Default settings work best with the 5mint candle, you may tweak settings according to your needs.
backtesting helps in interpreting how the trading strategy would have behaved in the past, and forward testing (paper trading) informs the traders how it would perform now.
Commercial FV PriceTrend V1Hello Traders ,
This is a trend trading Indicator where support and resistance and demand zone has been mentioned , It plots according to the trend change . Important point of the indicator is at time when we enter , just on the bases of buy and sell we enter and most of the time market takes out our SL or market reverses or trend changes , There comes the zones part and its functionality is mentioned in the images below and entry is only confirmed only when the candle penetrates inside the any of the zone be that be Resistance zone or Demand Zone and then breaks the low of the Zone (if trend is bearish) then only one can take short position and high of the zone should be the Stoploss ... Similarly if the trend is bullish and price is between Resistance and Demand Zone , if the price breaks the resistance and continue no long position can be taken , atleast for once it should penetrates back inside the Resistance Zone and then breaks the high of the zone that time long entry will become valid and low of the zone will be the Stoploss and 1:3 Risk Reward . By the way this can work with any type of market. However I concluded Intraday levels too which can be turned off according to user comfortability along with mean channel .
Aqua defines BULLISH TREND
RED defines BEARISH TREND
Rules for exit
lONG Exit= Candle closes below Zone Low
Short Exit =Candle closes above Zone high
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Disclaimer
Copyright by FaizanNawazz.
The information contained in my scripts/indicators/strategies/ideas does not constitute financial advice or a solicitation to buy or sell any securities of any type. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from the use of or reliance on such information.
All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, or individual’s trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.
My scripts/indicators are only for educational purposes!
Happy Trading!
SGX Nifty OHLC for Nifty 50 IndexSGX Nifty OHLC for Nifty 50 Index
What is this Indicator?
• This indicator calculates the OHLC levels of SGX Nifty.
How does SGX Nifty impact NIFTY and the Indian Market?
• Helps in predicting NIFTY50 Index behavior.
• The closing price of today's 9.14 am (IST) SGX Nifty will be the Open of today's Nifty50 Open. This helps to determine the opening Gap of Nifty50.
• SGX Nifty OHLC levels can act as support and resistance in Nifty50.
Who to use?
• Beneficial for Day Traders, who trade in NIFTY Index.
What timeframe to use?
• Use 1 minute for better accuracy.
• Other timeframes will also work.
Important Note
• Use 1 min timeframe for accurate OHLC.
• In other timeframes OHLC will have negligible difference, it won't be huge.
• This indicator will appear only on NIFTY Index and Futures chart.
• To hide the warning label go to the indicator Menu.
VWAP For NIFTY & BANKNIFTY [Zero54]NIFTY and BANKNIFTY Being Index do not have VWAP (because there is no volume generated). This is a simple script that displays NIFTY's future VWAP on NIFTY's Spot chart and similarly, displays BANKNIFTY's future VWAP on BANKNIFTY's sport chart. Fast and quick. Just few lines of code. No hefty un-necessary calculations.
No settings necessary. The script automatically detects NIFTY and BANKNIFTY and displays the corresponding VWAP.
Enjoy and share the knowledge. If you love this script, please boost/love this script and add a comment. Cheers!
NSE:NIFTY
NSE:BANKNIFTY
Gann Levels For Nifty Gann Levels for nifty 50 is very important to trade in options. so i create 50 gann levels for intraday trading.
Nifty Gap ⇅This indicator help to find NIFTY gap up or gap down opening,
use this indicator on SGX NIFTY
Chirag Strategy SMA with StopLossThe Moving Average Crossover trading strategy is possibly the most popular trading strategy in the world of trading. This strategy is a good example of so-called traditional strategies. Traditional strategies are always long or short. That means they are never out of the market. The concept of having a strategy that is always long or short may be scary, particularly in today’s market where you don’t know what is going to happen as far as risk on any one market. But a lot of traders believe that the concept is still valid, especially for those of traders who do their own research or their own discretionary trading.
This version uses crossover of simple moving averages of length 10 and 13. This strategy is best suitable for NIFTY and BANKNIFTY under 15min candlestick for intraday and 1hour candlestick for long-term.
Top 40 constituents of Nifty50Displays real-time candles of top 40 constituents of Nifty50 for a given time frame, side-by-side. This gives an overall idea of breadth and depth of market movements in the time-frame.
Please note that, this is not a standard chart rendered bar-wise and may take time to load as it requests multiple securities. You could modify the contents, from settings, to include stocks from your portfolio or indices of different sectors.
NSE:NIFTY
BankNifty - OBVThis script tries to draw OBV for BankNifty using Futures Volume along with Average OBV. For Nifty50 just change the Futures Volume symbol in settings. Look at devations in Price vs OBV or Average OBV breakout.
NSE:NIFTY
NSE:BANKNIFTY
Nifty_Price_Movement_BuildUPDashboard to see Price Momentum Build-Up at Nifty.
It cumulates all prices and their respective weightage.
During initial of a candle, we are not aware of volume is High or Not, we only get it in later buildup. But Price buildup will display it at the same instant that what is going with the price of all stocks.
The logic used here is that
1) If a stock close > open at a particular instant it will add that stock multiplied with its weightage in Nifty to the list of stocks that are positive.
2) If a stock close < open at a particular instant it will add that stock multiplied with its weightage in Nifty to the list of stocks that are negative.
3) Above two will give you data that how many of them are positive and are negative at a particular instant and how they are going to affect Nifty.
In one of the many possible ways, it is superior than that of Volume buildup is that, to determine volume is higher than previous volume, we have to wait for first few seconds/minutes/hours (depending on timeframe you are in) to see volume buildup. The Volume buildup function based indicator is kind of lagging, though volume itself being instant.
Nifty50 Participants - Top 25Nifty50 Index is calculated based on the movements of its participants. Every time you think of why is Index going up/down, who is actively dragging the index either ways, this Indicator gives you answer for the same in realtime!
This indicator will help you in pre-planning your trades based on the movements shown by different stocks of various sectors in Index calculation.
RSI column is an add-on to the participation table which will help you in getting RSI values of different stocks of Nifty 50 at a glance. You will see values getting updated in realtime in live market.
Checkout for customisations in indicator settings.
Note:
1. Participants present in this indicator and their participation percentage is taken from the official NSE website.
2. Table shows Top 25 participants by default. If you want to see less than 25 rows, you can update the input via indicator settings.
Feel free to contribute/comment changes if any! Comment in case of any suggestions :)
- Published by Soham Dixit
Nifty and Bank Nifty Dashboard V2This shows a performance glance of Dow and major Constituents of NSE:NIFTY or NSE:BANKNIFTY . This is an enhancement to the Bank nifty dashboard published earlier.
Usage
• Customizable Table and Style settings
• Customizable Indicator Settings
• Customizable Time frame of Indicators in Table. Can change to higher or lower TF other than the chart time frame
• Customizable Input symbols. Can modify with the Scripts you want to track.
• The Last row will be the current script viewed in charts.
• Can enable or disable indicators on the chart like ST, SMA, VWAP.
• Strong Volume Indication at bottom based on the average volume inputs for Nifty, Bank Nifty and for other stocks volume > 20 ma(volume)
• Displays bank nifty stocks if Bank nifty is the open chart else it will display top Nifty Stocks.
• This will help to monitor the performance of various scripts.
• Can change the stock list according to usage/Index.
• It will show all the symbols if Additional Symbols is selected.
Buy-Sell Signal
• Volume > Average Volume, it Shows #
• ST – Buy - Price > Super trend (10,2) and vice versa
• SMA – Buy - Price > MA and vice versa
• RSI – Buy – RSI > 50, Sell – RSI < 40
• ADX: Buy - ADX > 25, DMI+ Above DMI - and vice versa
• Previous day High low is not considered for buy or sell score calculation. This is just for additional observation.
• ATR will be highlighted when change > 0.75 of the average true range of daily price.
Strong colours will be shown for respective boxes when some additional conditions satisfy.
Style settings
Dashboard Location: Location of the dashboard on the chart
Dashboard Size: The size of the dashboard on the chart
Text/Frame Color: Determines the colour of the frame grid as well as the text colour
Bullish Cell Color: Determines the colour of cell associated with a rising indicator direction
Bearish Cell Color: Determines the colour of cell associated with a decreasing indicator direction
Cell Transparency: Transparency of each cell
TEWY - Magic Strength Indicator (SI) ScreenerDetail about this indicator
This is screener to identify outperforming Stocks/Ticker based on the indicator "TEWY - Magic Strength Indicator (SI)" I deployed earlier. So please checkout that indicator description to understand more about this screener logic.
Below are the parameters that you may need to use to get outperforming indices/tickers.
1. Screener Set Name :
• Here you can see few of the predefined Index/Ticker sets i created, which you can use to screen Index/Ticker.
• If you select Set for 'Indices' you will get the list of Indices which are out performing NSE:NIFTY. Once you know which index is outperforming, then select the Set for that Index which I already given in the dropdown. That you will get the list of outperforming stock under that index.
• If you want to see all scripts of selected Sector Index that are outperforming NIFTY and may or may not be be outperforming Sector index, then please uncheck the box for "Outperforming Child Index Also". This will get you all the list of Stocks/Tickers which are outperforming Main Index NIFTY.
• If you want to see out-performers for specific period of time then change "How Many Outperforming Candles/Bars" as per your choice
• If you want to see under performers for Short trades then select "Find Short Trades" checkbox
• If you want to see the scripts which are just changed there signal then select "Latest Only" checkbox
Always respect RISKS and follow stop loss. In market stop loss is the only friend of yours.
I have given a sample illustrational image below, which should help you understand this indicator.
Best of luck
Bank Nifty ParticipantsBankNifty Index is calculated based on the movements of its participants. Every time you think of why is Index going up/down, who is actively dragging the index either ways, this Indicator gives you the answer for the same in realtime!
For example : You see HDFCBank and Kotak Bank significantly up while all other banks going down but index reacting in a bullish mode, the answer lies in which Bank is contributing how much to the index! This will help you in pre-planning your trades based on the movements shown by different banks in Index calculation. Or on the other hand, you see HDFCBank on verge of breakout and you have target of 10 points, this indicator will help you in identifying how much the index will react to the 10 points movement shown by HDFC Bank which is the leading participant in Bank Nifty.
RSI column is an add-on to the participation table which will help you in getting RSI values of different banks at a glance. You will see values getting updated in realtime in live market. Checkout for customisations in indicator settings.
Note : Participants present in this indicator and their participation percentage is taken from the official NSE website.
Feel free to contribute/comment changes if any!
- Published by Soham Dixit
nifty_alchemistTimeframe : 5 Min
*When Indicator show Buy signal look only for buy entries at CPR and 50 EMA High and low
*When Indicator show Sell signal look only for sell entries at CPR and 50 EMA High Low
for any quieries contact on twitter @nifty_alchemist
[CP]Pivot Boss Floor Pivots with ATR Dilation and Dynamic LevelsINTRODUCTION:
Compared to all the Pivot Indicators available on Trading View Public Library, this Floor Pivots Indicator differentiates itself in two major original ways:
Dilates the Pivot Support/Resistance Levels into Support/Resistance Bands based on volatility
Displays the S/R Levels Dynamically , that is, only those levels will be shown that are close enough to the price resulting in much cleaner looking charts.
There were a few features whose logic I had figured out, but I could not implement them due Pine Script’s Limitation (they should really work on increasing Pine Script’s capacity instead of adding more and more features to the language in order to make it look ‘better’):
Showing multiple timeframe pivots at the same time (not possible due to Pine Script’s limitation on the ‘Max Number of Outputs’ )
Automatic Detection of highly profitable Double Hot Pivot Zones (DPZ), also due to the ‘Max Number of Outputs’ limit
GENERAL USER INPUTS:
Most of the settings are self-explanatory, however, a few of them need some explanation:
Show Floor Pivots Dynamically – This will turn ON the dynamic pivot levels, please note that this function will work ONLY IN INTRADAY timeframes.
Dynamic Pivot ATR Period – Period over which the ATR value is calculated to show the pivots dynamically.
ATR Threshold for Dynamic Floor Pivots – Simply put, the indicator will start displaying Pivot Levels if they fall within the 2*ATR distance (default value) of the price. You can increase this number if the volatility increases and vice-versa.
Use ATR to Dilate Intraday Pivot Levels – This will turn ON Floor Pivot Dilation, turning pivot ‘lines’ into ‘bands’ .
ATR Dilation Factor – This number decides the width of the Pivot bands. Larger this number, thicker the bands. Typically, high volatility stocks will require a higher number.
ATR Period – Same as Dynamic Pivot ATR Period, but for Pivot Level Dilation.
INDICATOR USAGE EXAMPLES:
This indicator works great in conjunction with my Pivot Boss Candlestick Scanner indicator.
There are a lot of optimizations I have done in the code, although it looks trivial at first glance, but it's fairly complex.
Feel free to use it and modify it as you wish.
Here are a few examples where the indicator has shown great entries and exits, with the default settings:
NIFTY 5m Chart
Reliance 5m Chart
Tesla 5m Chart
Bitcoin-USDT 15m Chart
FINAL WORDS:
Please understand that I have Cherry Picked the examples to showcase the capability of the indicator and its usage.
DO NOT conflate the accuracy of examples with the accuracy of this indicator.
Once you start using floor pivots, you will realize that a lot of days simply don’t give any high probability setups and you will simply sit out of the market and do nothing (which is a good thing).
If you really want to learn how to use Pivots, read the book ’Secrets of a Pivot Boss’ . This book can change your life.
Nifty strike price 2/3σ Calculates the strike prices for the Nifty50 index in steps of 50 and marks the 2 and 3 sigma price levels.
Banknifty & Nifty50 ScalperWhy this indicator?
There are full time traders who watch their screens during live market and make good amount of money by actively managing their positions.
There are full time employees also who want to trade but can not do so because they can not monitor their active positions while they are at job.
This indicator helps you execute your trades through third party platforms by generating Buy/Sell messages in a broker-compliant format.
You just need to "Enter Your API Key” in indicator settings and the indicator will generate pop-up messages which can be captured with Google Chrome extension and passed on to your third party platform for execution.
How this indicator works?
The indicator generates trades with 03 type of formulas:
1. It calculates Zeta Force values for Bank Nifty & Nifty based upon our proprietary formula. On reaching certain threshold limits, these values trigger Buy/Sell signals.
2. It calculates 5 type of moving averages along with change in volume and deviation from mean price and when the threshold limit set is crossed, Buy/Sell signals are generated.
3. On 1 min. Time frame, it generates scalping trades when there is sudden spurt in price and volume.
Additionally, indicator also generates automatic Support/Resistance lines based upon pivot points + behaviour of price at certain levels (whether price repeatedly bounces off or sails through a certain area).
What are other features of the indicator
A label displayed at the last bar gives you following information:
(a) Value of India VIX
(b) jump in India VIX (compared to yesterday’s close)
(c) Zeta Fore value (current candle)
(d) V+ and V- which stand for number of bank nifty stocks trading above or below their respective VWAP
(e) Zeta TP, an oscillator whose value varies from -100 to +100
On what stocks or Indices it can be used?
As described above, it specifically tracks volume and price of Bank Nifty & Nifty50 (Indian indices). Hence, it is suitable for both these indices and should not be used on anything else.
Also, when this indicator formulae were back-tested using a strategy, 5 min and 15 min time frames produced best-results.
Support/Resistance lines and over-sold, over-bought indication can be used together to exit your open positions.
Options Scalping V2This Indicator is Owned by Team Option Scalping.
It has 4 Plots and 2 Tables.
This indicator to be used only in BankNifty Futures
VWAP ( Volume weighted average price )
• User can input the source and enable/disable the VWAP from input section.
• When price is more than the VWAP its Bullish Trend and vice versa.
VWMA ( Volume weighted moving average )
• Default value of 20 is used in VWMA . User can enable/disable it from input section.
• When price is more than the VWMA its Bullish Trend and vice versa.
Parabolic SAR
• User can input “start”, “increment” and “maximum” values from input section and can enable/disable SAR also.
• When price is more than the Parabolic SAR its Bullish Trend and vice versa.
SuperTrend
• User can input ATR Period and ATR Multiplier values from input section. By defaults it’s 10 and 2.
• User have option of enable/disable “Change ATR calculation Method”, if enabled then ATR is calculated differently for SuperTrend.
• Enable/disable “BUY/SELL signals” on SuperTrend.
• When price is more than the SuperTrend its Bullish Trend and vice versa.
Top Right Corner TABLE ( 6 , 10 )
When you are trading in Banknifty futures , we have to check major Banks which is contributing to Banknifty move. So we have given that in this tab.
This table consist data of 9 following stocks:
• BankNifty
• Nifty
• Dow
• INDIA
• VIX
• HDFC
• ICICI
• KOTAK
• AXIS
• SBI
And following data of each stock has been provided:
• LTP
• Daily Change
• Daily Percentage Change
• 15-minute Change Percentage
• 1-Hour Change Percentage
Bottom Right Corner TABLE (3, 6 )
This table consist of 4 indicators values and Up/Down indicator:
• VWMA (When price is more than the VWMA its Bullish and vice versa)
• SuperTrend (10.2, When price is more than the SuperTrend its Bullish and vice versa.)
• RSI (14)
• VWAP (When price is more than the VWAP its Bullish and vice versa.)
