Indianstockmarket — Indicators and Strategies

5EMA_BB_Scalping What? In this forum we have earlier published a public scanner called 5EMA BollingerBand Nifty Stock Scanner , which is getting appreciated by the community. That works on top-40 stocks of NSE as a scanner. Whereas this time, we have come up with the similar concept as a stand-alone indicator which can be applied for any chart, for any timeframe to reap the benifit of reversal trading. How it works? This is essentially a reversal/divergence trading strategy, based on a widely used strategy of Power-of-Stocks 5EMA. To know the divergence from 5-EMA we just check if the high of the candle (on closing) is below the 5-EMA. Then we check if the closing is inside the Bollinger Band (BB). That's a Buy signal. SL: low of the candle, T: middle and higher BB. Just opposite for selling. 5-EMA low should be above 5-EMA and closing should be inside BB (lesser than BB higher level). That's a Sell signal. SL: high of the candle, T: middle and lower BB. Along with we compare the current bar's volume with the last-20 bar VWMA (volume weighted moving average) to determine if the volume is high or low. Present bar's volume is compared with the previous bar's volume to know if it's rising or falling. VWAP is also determined using `ta.vwap` built-in support of TradingView. The Bolling Band width is also notified, along with whether it is rising or falling (comparing with previous candle). What's special? We love this reversal trading, as it offers many benifits over trend following strategies: Risk to Reward (RR) is superior. It _Does Hit_ stop losses, but the stop losses are tiny. Means, althrough the Profit Factor looks Nahh , however due to superior RR, end of day it ended up in green. When the day is sideways, it's difficult to trade in trending strategies. This sort of volatility, reversal strategies works better. It's always tempting to go agaist the wind. Whole world is in Put/PE and you went opposite and enter a Call/CE. And turns out profitable! That's an amazing feeling, as a trader :) How to trade using this? * Put any chart * Apply this screener from Indicators (shortcut to launch indicators is just type / in your keyboard). * It will show you the Green up arrow when buy alert comes or red down arrow when sell comes. * Also on the top right it will show the latest signal with entry, SL and target. Disclaimer * This piece of software does not come up with any warrantee or any rights of not changing it over the future course of time. * We are not responsible for any trading/investment decision you are taking out of the outcome of this indicator.

Expiry Day Special Indicator Expiry Day Special Indicator The Expiry Day Special Indicator is designed to detect catalytic price action patterns that commonly occur between 9:15 AM to 10:15 AM (IST) in the Nifty & Bank Nifty markets but not limited to these specific markets. While these patterns are particularly useful on expiry days, they are not limited to expiry trading alone. They can also be applied on other trading days when similar conditions arise, making them versatile for intraday traders. How It Works This indicator scans for bullish and bearish price action patterns within the first trading hour and plots potential buy and sell signals based on key market structures. • Bearish Patterns: Identifies strong rejection zones and weakness in price action to signal potential short trades. • Bullish Patterns: Recognizes reversal formations that indicate potential long trade opportunities. • Time Filter: The setup is valid only between 9:15 AM - 10:15 AM (IST) to focus on high-impact market moves. Why This Indicator? 1. Specialized for Nifty & Bank Nifty – Designed specifically for Indian markets. 2. Early Trend Identification – Helps traders capture moves early in the session. 3. Works Beyond Expiry Days – Although optimized for expiry trading, it can also detect similar patterns on regular days. 📌 Note: This indicator does not provide trading advice; always use proper risk management.

Strategy:Reversal-Catcher What This is a plain and vanilla reversal based strategy for intraday (15m) timeframe on Futures prices of the assets. Now what all it comprises of? It finds out the dynamic support & resistance from Bollinger Band (20 period, 1.5 std dev). It finds out the potential divergence of price deviation from 5 period exponential moving average (EMA). If the previous candle (N-1) shows a divergence it confirms the reversal by checking the present candle (N) to be closed inside the Bollinger Band. It confirms the momentum by checking RSI shows a crossover/crossunder to oversold (30) / overbought (70) region. It also confirms whether the trend is up (then only reversal trade to short) or down (then only reversal trade to long). The trend is checked with EMA-21 and EMA-50. Re-affirmation Condition : It re-affirms the position of two successive candles called as `hhLLong` and `hhLLShort` in the script. Why In Indian context, retail participants are pre-dominantly (yes- 80% of Indian daily volume) Options buyers mainly in weekly indices (Nifty, BankNifty, FinNifty, CNXMidcap, Sensex, Bankx .. well everyday is expiry now in India, except -- Thank God -- Saturday & Sunday). And in Index Options the momentum plays a big role. If one can catch a good reversal point the potential of high Risk-to-Reward trade (hence earn handsomely) is very likely (please note: there is no holy grail in trading. Nothing works 100%). So this is the attempt to catch a reversal. Re-affirmation of Reversal hhLLong : It's a reversal point after an uptrend. It checks the relative positioning of current candle compared to that of previous candle. [The details are in the script. Check for variable hhLLong in script. hhLLShort : It's a reversal point after a downtrend. It checks the relative positioning of current candle compared to that of previous candle. [The details are in the script. Check for variable hhLLShort in script. Unique-ness What's unique in it? Why we decided to publicly share this: Already given the context of The Great Indian Options Buyers community. It should be helpful to them, we believe. It takes Very Less Number of Trades with High Accuracy . Please check the result in NSE:NIFTY1! in 15m timeframe. 71% accuracy with roughly a trade in a month. There is no point giving brokers' the brokerages taking 10 trades a day and ending not-so-good EoD. Better lets take less trades with better result possibility. . Mention There are many people uses this variation of Bolling Band, 5EMA Many people use RSI, trends and relative positioning of candles. --> We are grateful to all of them. It's really difficult to mention everyone's name. But all people somehow influence the thought process. Thanks for all of them. Statutory Disclaimer There is no silver bullet / holy grail in trading. Nothing works 100% time. One has to be careful about the loss (s)he can bear in case of the trade goes against. We, as the author of this script, is not responsible for any trading or position decision one is taken based on the outcome of this. It is our sole discretion to change, add, delete the portion or withdraw the whole script without any prior notice or intimation. In Indian Context : We are not SEBI registered, will never be SEBI registered.

5EMA BollingerBand Nifty Stock Scanner What ? We all heard about (well: over-heard) 5-EMA strategy. Which falls into the broader category of mean reversal type of trading setup. What is mean reversal? Price (or any time series, in fact) tries to follow a mean . Whenever price diverges from the mean it tries to meet it back. It is empirically observed by some traders (I honestly don't know who first time observed it) that in Indian context specially, 5 Exponential Moving Average (5-EMA) works pretty good as that mean. So whenever price moves away from that 5-EMA, it ultimately comes back and attain total nirvana :) Means: if price moved way higher than the 5EMA without touching it, then price will correct to meet it's 5-EMA and if price moved way lower, it will be uplifted to meet it's 5-EMA. Funny - but it works ! Now there are already enough social media coverage on this 5-EMA strategy/setup. Even TradingView has some excellent work done on these setups. Kudos to all those great souls. So when we came to know about this, we were thinking what we should do for the community. Because it is well cover topic (specially in Indian context). Also, there are public indicators. Then we thought why not come up with a scanner which will scan all the Nifty-50 constituent stocks and find out on the fly, real-time which all stocks are matching this 5-EMA setup and causing a Buy/Sell trade recommendation. Hence here we are with the first version of our first scanner on the 5EMA setup (well it has some more masala than merely a 5-EMA setup). Why? Parts of why is already covered up. Now instead of blindly following 5-EMA setup, we added the Bollinger band as well. Again: it's also not new. There are enough coverage in social media about the 5-EMA+BB strategy/setup. We mercilessly borrowed from all of these. Suppose you have an indicator. Now you apply the indicator in your chart. And then you need to (rock) and roll through your watchlist of Nifty-50 stocks (note: TradingView has no default watchlist of Nifty-50 stock by default - you have to create one custom watchlist to list all manually) to find out which all are matching the setup, need to take a note about the trade recomendations (entry, SL, target) and other stuffs like VWAP, Volume, volatility (Bollinger Band Width). Not any more. This scanner will track all the Nifty-50 stocks (technically: 40 stocks other than Banking stocks) and provide which one to Buy or Sell (if any), what's the entry, SL, target, where is the VWAP of the day, what's the picture in volume (high, low, rising, falling) and the implied volatility (using Bolling band width). Also it has a naive alerting mechanism as well. In fact the code is there to monitor the (Future) OI also and all the OI drama (OI vs price and all the 4 stuffs like long build up, long unwinding, short covering, short buildup). But unfortunately, due to some limitations of the TradingView (that one can not monitor more than 40 `ta.security` call) we have to comment out the code. If you wish you can monitor only 20 stocks and enable the OI monitoring also (20 for stocks + 20 for their OI monitoring .. total 40 `ta.security` call). How? To know the divergence from 5-EMA we just check if the high of the candle (on closing) is below the 5-EMA. Then we check if the closing is inside the Bollinger Band (BB). That's a Buy signal. SL: low of the candle, T: middle and higher BB. Just opposite for selling. 5-EMA low should be above 5-EMA and closing should be inside BB (lesser than BB higher level). That's a Sell signal. SL: high of the candle, T: middle and lower BB. Along with we compare the current bar's volume with the last-20 bar VWMA (volume weighted moving average) to determine if the volume is high or low. Present bar's volume is compared with the previous bar's volume to know if it's rising or falling. VWAP is also determined using `ta.vwap` built-in support of TradingView. The Bolling Band width is also notified, along with whether it is rising or falling (comparing with previous candle). Simple, but effective. Customization As usual the EMA setup (5 default), the BB setup (20 SMA with 1.5 standard deviation), we provided option wherther to include or exclude BB role in the 5-EMA setup (as we found out there are two schools of thought .. some people use BB some don't. Lets make all happy :)) We also provide options to choose other symbols using Settings if they wish so. We have the default 40 non banking Nifty stocks (why non-banking? - Bank Nifty is in ATH :) .. enough :)). But if user wishes can monitor others too (provided the symbol is there in TradingView). Although we strongly recommend the timeframe as 30 minutes , you can choose what's fit you most. The output of the scanner is a table. By default the table is placed in the right-bottom (as we are most comfortable with that). However you can change per your wish. We have the option to choose that. What is unique in it ? This is more of an indicator. This is a scanner (of Nifty-50 stocks). So you can apply (our recommendation is in 30m timeframe) it to any chart (does not matter which chart it is) and it will show every 30 mins (which is also configurable) which all stocks (along with trade levels) to Buy and Sell according to the setup. It will ease your trading activity. You can concentrate only on the execution, the filtering you can leave it to this one. Limitations There is a build in limitation of the TradingView platform is that one can call only upto 40 securities API. Not beyond that. So naturally we are constraint by that. Otherwise we could monitor 190 Nifty F&O stocks itself. 30m is the recommended timeframe. In very lower (say 5m) this script tends to go out of heap (out of memory). Please note that also. How to trade using this? Put any chart in 30m (recommended) timeframe. Apply this screener from Indicators (shortcut to launch indicators is just type / in your keyboard). This will provide the Buy (shown in green color) or Sell (shown in red color) recommendations in a table, at every 30m candle closing. Note the volume and BB width as well. Wait for at least 2 5-minutes candles to close above/below the recommended level . Take the trade with the SL and target mentioned. Mentions @QuantNomad. The whole implementation concept we mercilessly borrowed from him, even some of his code snippet we took it (after asking him through one of his videos comment section and seeking explicit permission which he readily granted within an hour). Thank You sir @QuantNomad. Indebted to you. Monika (Rawat) ji: for reviewing, correcting, providing real time examples during live market hours, often compromising her own trading activities, about the effectiveness and usefulness of this setup. Thank You madam ji. Indebted to you. There are innumerable contents in social media about this. Don't even know whom all we checked. Thanks to all of them. Happy Trading (in stocks - isn't enough of Indices already?) Disclaimer This piece of software does not come up with any warrantee or any rights of not changing it over the future course of time. We are not responsible for any trading/investment decision you are taking out of the outcome of this indicator.

Strategy: Range Breakout What? In the price action, levels have a significant role to play. Based on the price moving above/below the levels - the underlying instrument shows some price-action in the direction of breakout/breakdown. There are plenty of ways level can be determined. Levels are the decision point to take a trade or not. But if we make the level derivation complex, then the execution may get hamper. This strategy script, developed in PineScript v5, is our attempt at solving this problem at the core by providing this simple, yet elegant solution to this problem. It's essentially an attempt to Trade Simple by drawing logical (horizontal) lines in the chart and take actions, after multiple associated parameters confirmation, on the breakout / breakdown of the levels. How? Let us explain how we are drawing the levels. We are depending on some of the parameters as described below: Open Range : During intraday movement, often if prices move beyond a particular level, it exibits more movement in the same swing in same direction. We found out, through our back testing for Indian Indices like NSE:NIFTY , NSE:BANKNIFTY or NSE:CNXFINANCE the first 15m (i.e 09:15 AM to 09:30 AM, IST) is one of such range. For Indian stocks, it is 9:15 to 9:45. And for MCX MCX:CRUDEOIL1! it's 5:00 pm to 6:00 pm. There are our first levels. PDHCL : Previous Day High, Close, Low. This is our next level VWAP : The rolling VWAP (volume weighted average price) In the breakout/breakdown of the Open Range and Previous Day High/Low, we are taking the trade decisions as follows using CEST principle: C onditions : If current bar's (say you are in 5m timeframe) closing is broken out the Open Range High or Previous Day High, taken a Buy/Long decision (let's say buying a Call Option CE or selling a Put Option PE or buying the future or cash). If current bar's (say you are in 5m timeframe) closing is broken down the Open Range Low or Previous Day Low, taken a Sell/Short decision (let's say buying a Put Option CE or selling a Call Option PE or selling the future or cash). Additionally, and optionally (default ON, one can turn off): we are checking various other associated multiple confirmations as follows: 1. Momentum : Checking 14-period RSI value is more than 50 or less than 50 (all parameters like period, OB, OS ranges are configurable through settings) 2. Current bar's volume is more than the last 20 bars volume average. How much more - that multiplier is also configurable. (default is 1) 3. The breakout candle is bullish (green) or bearish (red). E ntry : All of these happens only on the closing of the candle . Means: Non Repainting! . Clearly in the chart we are showing as green up arrow BO (breakout for buy) and red down arrow BD (breakdown for sell) to take your decision process smooth. So, on the closing of the decision BO/BD candle we are entering the trade (with a thumping heart and nail biting ...) S top Loss : We are relying on the time tasted (last 40 years) mechanism of Average True Range (ATR) of default 14 period. This default period is also configurable. So for Long trades: the 14 period ATR low band is the SL. For Short trades: the 14 period ATR high band is the SL. T arget : We are depending on the thump rule of 1:2 Risk Reward. It's simple and effective. No fancy thing. We are closing the trade on double the favorable price movement compared to the SL placed. Of course, this RR ratio is confiurable from the settings, as usual. What's Unqiue in it? The utter simplicity of this trading mechanism. No fancy things like complex chart pattern, OI data, multiple candlestick patterns, Order flow analysis etc. Simple level determination, Marking clearly in the chart. Making each parameter configurable in Settings and showing tooltip adjacent to the parameter to make you understand it better for your customization, Wait for the candle close, thus eliminating the chances of repainting menace (as much as possible) Additional momentum and volume check to trade entry confirmation. Works with normal candlestick (nothing special ones like HA ...) Showing everything as a Summary Table (which, again can be turned off optionally) overlaying at the bottom-right corner of the chart, Optionally the Summary Table can be configured to alert you back (say you get it notified in your email or SMS). That way, a single, simple, effective trade setup will ease your journey as smooth sail as possible. Mentions There are plenty of friends from whom time to time we borrowed some of the ideas while working closely together over last one year. From tradingview community, we took the spirit of @zzzcrypto123 awesome work done long back (in 2020) as the indicator "ORB - Opening Range Breakout". (We tried to reach him for his explicit consent, unable to catch hold of him). Some other publicly available materials we have consulted to get the additional checks (like RSI, volume). Lat word Use it please and thank you for your constant patronage in following us in this awesome platform. Let's keep growing together. Disclaimer : This piece of software does not come up with any warrantee or any rights of not changing it over the future course of time. We are not responsible for any trading/investment decision you are taking out of the outcome of this indicator.

Live Portfolio Screener The live portfolio screener indicator is a tool that help users to track the performance of their investments in real-time. The indicator provides a detailed breakdown of the user's portfolio, including the current profit and loss (P&L) for each stock that is invested in. This allows users to quickly and easily see how their portfolio is performing and make informed decisions about their investments on charts. Overall, this tool is an essential tool for anyone looking to stay on top of their investments and make data-driven decisions. This indicator can load any symbol globally usable. How to use this indicator ? in this indicator firstly you have add script name. (For example if you want to add symbol you have add in 's01 ' means the first symbol) after that you have to add price for each (For example if you want to add buy price for the first symbol then add the buy price in ' Bp01 ') then the quantity comes in picture which is below price list and named here as Bq01 which means 'Buy quantity for first symbol'

Open High Low Strategy This is a very simple, yet effective and to some extend widely followed scalping strategy to capture the underling sentiments of the counter whether it will go up or down. What is it? This is Open-High-Low (OLH) strategy. As you already aware of Candlestick patterns, there is patterns called as Marubozu patterns where the sell wick or buy wick either ceases to exists (or very small). This is exactly in the same principle. In OLH strategy: The buy signal appears when the Open Price is the Low Price. It means if you draw the candlestick, there is no bottom wick. So after the opening of the candle, the demand drives the price up to the level, some selling may or may not come and closes in green. This indicates a strong upward biasness of the underlying counter. Similarly, a sell signal appears when the Open price is the High Price. It means there is no upper wick. So there is no buying pressure, since the opening of the candle, sellers are in force and pulls down the price to a closing. This strategy generates the signal at the close of the candle (technically barstate.isconfirmed). Because until the bar is real-time there is no option to know the final closing or high. So you will see the bar on which it generates the buy or sell signal is actually indicates the previous bar as OLH bar. To determine the Stop-Loss, it uses the most widely known SL calculation of: For buy signal, it takes the low of the last 7 candles and substract the ATR (Average True Range) of 14-period. For sell signal, it takes the high of the last 7 candles and add it to the ATR (Average True Range) of 14-period. One can plot the SL lines as dotted green and red lines as well to see visually. Default Risk:Reward is 1:2, Can be customizable. What is Unique? Of course the utter simplistic nature of this strategy is it's key point. Very easy and intuitive to understand. There are awesome strategies in this forum that talks about the various indicators combinations and what not. Instead of all this, in a 15m NSE:NIFTY chart, it generates a good ~ 47% profit-factor with 1:2 Risk Reward ratio. Means if you loose a trade you will loose 1% of account and if you win you will gain 2%. Means 3 trades (2 profits and 1 loss) in a trading session result 3% overall gain for the day. (Assuming you are ready with 1% draw down of your account per trade, at max). Disclaimer: This piece of software does not come up with any warrantee or any rights of not changing it over the future course of time. We are not responsible for any trading/investment decision you are taking out of the outcome of this indicator.

Price Action in action What? Price Action in Action is an indicator to help Price Action learners and practitioners to get everything related for Price Action in one place. Price Action is: Price + Volume = Action In this indicator, we have the following features available: Support/Resistance Using the RSI with different periods in a multiple of 7 (7, 14, 21, 28), we first determine the overbought (above 70, customizable) and oversold (below 30, customizable) regions. Then we pick up the highest point and lowest point in the RSI values in the overbought and oversold regions, respectively. These are the point, historically supply/demand emerged for surety to push down/up the RSI indicator and the corresponding price. So, these are the most accurate way, we believe, to draw support/resistance (or demand/supply) in the chart. By default, the Support is green color and Resistance is red color. To give a visual representation, we differentiate the different shades of green and red. For example, for Level-1 (i.e. 7 by default) we use the darkest shade (0 transparency) and Level-4 (i.e. 28 by default) we use lighter shade (60 transparency). Note please: you can customize the color of support and resistance lines (say if you want resistance as green and support as red). The respective shades (transparency) will be automatically adjusted accordingly. But those shade (transparency) levels are not customizable, they are fixed (please bear with it for version-1 at least). Strength of Support/Resistance In the chart above/below the Resistance / Support lines you can see the tiny labels with some numbers like 1, 2. We found out how many times a particular support/resistance is appearing across multiple RSI periods. E.g. if price P1 appears 2 times among 4 different RSI periods, the number will be 2 for that calculation, and so on. There can be multiple presence of these numbers in a support/resistance line (i.e. multiple tiny labels). Something like: 1, 1, 2 (into different candles). This means the same support/resistance is tested so many times in different occasion (means there is a RSI max/min coincides in this level over multiple occasions) at different candles. This will help you to intuitionally gauge the “strength” of a support/resistance line. The more the marrier, unworthy to mention. Candle Stick Patterns Well: we don’t need to tell anything about the Candlestick. All of you know it better than us. And it’s a time proven, zero-lag mechanism to judge the Price-Action is unfolding in the market. We do not know if there is anything better possible than this time tested patterns to judge the prevailing sentiments of market. Price-Action does not complete without finding out the Candlestick Patterns correctly. And in this indicator your will get all of these: Single Candle such as Doji (default off), Marubozu, Spinner, hammers, inverted-hammer etc. ; 2 candles like Tweezer, Inside Candle, Engulfing; 3 candles like morning star/evening star. In the multi candle patterns (2/3 candles), we are grouping the candles with a dotted rectangle such that it is clear which 2/3 candles are part of the pattern. E.g. Morning Star: 3 candles are grouped in a dotted rectangle and the Morning Star label will come to the latest candle (3rd most – as the pattern is detected reliably only on the completion of the 3rd final candle). Of course, any program can not eliminate your trained eyes and brain to capture the patterns. But we have provided sufficient knobs to adjust various parameters to tweak the candle-pattern detection. Such as Strict Inside Candle(Harami) Boolean knob where the whole current candle including wicks will be inside the body part of the previous big candle. For non-strict mode, the current candle just inside the previous candle, possibly by wicks. To make it better usable, for every such knobs (which are not obvious) we have added user-friendly tooltip (just mouse hover the question mark (?) besides the control/switch). There are plenty of it. Volume Here we have a rudimentary (yet effective) way to judge the volumes. We find out the Volume Weighted Moving Average (VMWA) of the 20-period (default, but customizable) and the latest volume. If the latest volume is more than the 20 period vwma, we just add a grey diamond on the top of the candle to denote it’s attracting volumes. Of course, we provide a Weight coefficient (default is set to 1). So if the current bar’s volume on bar’s completion is more than the 20 period volume vmwa times the weigh-cofficient, we mark it with a tiny grey diamond. Points to be noted: In all places we mark the indication only on the completion of the bar (technically speaking we have checks, as far as possible, with barstate.isconfirmed). However, if you wish, you can turn it off for Candlestick (as some experts may want to check candlestick on the real time, even before the closing of bars). In case if you see the chart looks cluttered (because of many information, specially in smaller timeframes like 5 min), there are controls given in the settings to toggle each and every features. By default, we turn off Doji candles (all 3 types of Doji’s – normal, Gravestone & Dragonfly) as they are mainly indecision. However, you can toggle it to turn it on. It does not give you any Buy/Sell call. The interpretation it does not have. Why? What’s unique in it? As we already mentioned our intention is to include Price (in forms of Support / Resistance), Volume and Action (sentiments in terms of Candlestick patterns) into a single place. And so far, to the best of our knowledge, we could not come across a single indicator provides all of these. There were works available to determine the RSI based support / resistance zones. Those are great piece works at that time (lets say 3 years back when PineScript was in earlier versions). To the best of our knowledge those does not cover up finding out the lowest / highest point of RSI and the corresponding price to get the simplistic and distinct support/resistance lines. We have the intuitive support/resistance strength included which we could not found out in current set of available indicators. To the best of our knowledge, there seems no indicator can detect 3-candle patterns which are extremely popular to detect trend reversals (such as Morning Star or Evening Star). Moreover for the multi-candle patterns we are grouping the candles part of the pattens (2-candles or 3-candles) using a dotted rectangle such that it’s visually clearly (and a well educative material for Price-Action learners also). Mentions: There are many works which inspire us along the way. Honestly: we sometimes forgot which all indicators we experimented with. We are sincerely apologetic in case we forgot to mention. A few note-worthy: There is an indicator from user “repo32” named as “Candlestick Patterns Identified (updated 3/11/15)”. (We could not be able to contact “repo32”). We are inspired from his work that it’s feasible to detect Candlestick patterns. There is an awesome work done by “RSI Based Automatic Demand and Supply” by user “shtcoinr”. The idea of consulting multiple RSI levels to find out the demand/supply zone we inspired from him. (We did contact “shtcoinr” and got his kind permission to use the concept.) We are greatly thankful to these abovementioned wizards for their pioneering a-prior work in this front. And of course, this TradingView platform to provide this abstraction, facilitates and felicitates collaborative contributions. Ultimately, what’s for you? That’s the main question. What’s for you? Price-action comprises of following 3 tasks (at least): Draw support/resistance lines in the chart. Once price reaches at the support/resistance line, you fervently look out the candles’ formation to mentally map to the candle patterns. Your aim is divine: You want to judge if the price-action will continue or take a rejection/reversal. Then you double-confirm with the volume (in a non-overlaid chart below). Finally take a trade. For a price-action newbie or seasoned, expert practitioner, you must be doing all the above tasks regularly and manually, in a mechanical, mundane way. There come the humanly subjectivity & the inevitable emotions . This indicator, being a piece of program/code in PineScript latest version v5 , eliminates (or at least, reduces to a great extend) that subjectivity & emotions out of the way of decision making . Thus resulting better yield. Of course, you can argue that you draw slanted trend lines also. We recommend an already existing indicator by user LuxAlgo named as “Trendlines with Breaks ”, if you wish so. Disclaimer: This piece of software does not come up with any warrantee or any rights of not changing it over the future course of time. We are not responsible for any trading/investment decision you are taking out of the outcome of this indicator. Happy trading.

Volume x Price in Crores + RVol Script is designed predominantly for Indian users. Many are used to looking at numbers in lakhs and crores vs millions and billions, this provides a volume figure in rupee crores. Formula is last close_price x volume / 1 cr or (close_price x volume /10000000). The second figure is the simple moving average (default to 20sma ) again in rupee crores. The third is the relative volume - todays volume / 20 day moving average. Helpful especially when putting on a trade for a thinly traded stock. It is a quick gauge to how large or small one would want to buy or avoid. Helps manage risk. Also, great to see large volumes in crores to gauge institutional buys or sells. On 10/NOV/21 - In the chart displayed here, Titan volumes are on average quite substantial as one can see. The 20 day moving average is 550 CR+. 10/NOV volumes are shown as 226 CR and the RVOL is 0.41 (226/550).

Bank Nifty Participants BankNifty 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