TSI + DivergencesTrue Strength Indicator (TSI) + Divergences + Alerts + Lookback periods.
This version of the True Strength Indicator adds the following 3 additional features to the stock TSI by Tradingview:
- Optional divergence lines drawn directly onto the oscillator.
- Configurable alerts to notify you when divergences occur.
- Configurable lookback periods to fine tune the divergences drawn in order to suit different trading styles and timeframes.
This indicator adds additional features onto the stock TSI by Tradingview, whose core calculations remain unchanged. Namely the configurable option to automatically, quickly and clearly draw divergence lines onto the oscillator for you as they occur, with minimal delay. It also has the addition of unique alerts, so you can be notified when divergences occur without spending all day watching the charts. Furthermore, this version of the TSI comes with configurable lookback periods, which can be configured in order to adjust the sensitivity of the divergences, in order to suit shorter or higher timeframe trading approaches.
The True Strength Indicator
Tradingview describes the True Strength Indicator as follows:
“The True Strength Index (TSI) is a momentum oscillator that ranges between limits of -100 and +100 and has a base value of 0. Momentum is positive when the oscillator is positive (pointing to a bullish market bias) and vice versa. It was developed by William Blau and consists of 2 lines: the index line and an exponential moving average of the TSI, called the signal line. Traders may look for any of the following 5 types of conditions: overbought, oversold, centerline crossover, divergence and signal line crossover. The indicator is often used in combination with other signals..”
What are divergences?
Divergence is when the price of an asset is moving in the opposite direction of a technical indicator, such as an oscillator, or is moving contrary to other data. Divergence warns that the current price trend may be weakening, and in some cases may lead to the price changing direction.
There are 4 main types of divergence, which are split into 2 categories;
regular divergences and hidden divergences. Regular divergences indicate possible trend reversals, and hidden divergences indicate possible trend continuation.
Regular bullish divergence: An indication of a potential trend reversal, from the current downtrend, to an uptrend.
Regular bearish divergence: An indication of a potential trend reversal, from the current uptrend, to a downtrend.
Hidden bullish divergence: An indication of a potential uptrend continuation.
Hidden bearish divergence: An indication of a potential downtrend continuation.
Setting alerts.
With this indicator you can set alerts to notify you when any/all of the above types of divergences occur, on any chart timeframe you choose.
Configurable lookback values.
You can adjust the default lookback values to suit your prefered trading style and timeframe. If you like to trade a shorter time frame, lowering the default lookback values will make the divergences drawn more sensitive to short term price action.
How do traders use divergences in their trading?
A divergence is considered a leading indicator in technical analysis, meaning it has the ability to indicate a potential price move in the short term future.
Hidden bullish and hidden bearish divergences, which indicate a potential continuation of the current trend are sometimes considered a good place for traders to begin, since trend continuation occurs more frequently than reversals, or trend changes.
When trading regular bullish divergences and regular bearish divergences, which are indications of a trend reversal, the probability of it doing so may increase when these occur at a strong support or resistance level. A common mistake new traders make is to get into a regular divergence trade too early, assuming it will immediately reverse, but these can continue to form for some time before the trend eventually changes, by using forms of support or resistance as an added confluence, such as when price reaches a moving average, the success rate when trading these patterns may increase.
Typically, traders will manually draw lines across the swing highs and swing lows of both the price chart and the oscillator to see whether they appear to present a divergence, this indicator will draw them for you, quickly and clearly, and can notify you when they occur.
Disclaimer : This script includes code from the stock TSI by Tradingview as well as the RSI divergence indicator.
Index
Custom IndexEnables users to create their own custom Stock Index with up to 29 tickers! Has included optionality to include/exclude certain sectors, plot sectors individually and measure in gold. Good for having a look at how your favorite tickers have performed (with your modification of course). Also has option to show Moving Averages for your convenience.
Price Pivots for NSE Index & F&O StocksPrice Pivots for NSE Index & F&O Stocks
What is this Indicator?
• This indicator calculates the price range a Stock or Index can move in a Day, Week or Month.
Advantages of this Indicator
• This is a Leading indicator, not Dynamic or Repaint.
• Helps to identify the tight range of price movement.
• Can easily identify the Options strike price.
• The levels are more reliable and authentic than Gann Square of 9 Levels.
• Develops a discipline in placing Targets.
Disadvantages of this Indicator
• The indicator is specifically made for National Stock Exchange of India (NSE) listed index and stocks.
• The indicator is calculated only for index NIFTY, BANKNIFTY, FINNIFTY, MIDCPNIFTY and Stocks listed in Futures and Options.
• The indicator shows nothing for other indexes and stocks other than above mentioned.
• The data need to be entered manually.
• The data need to be updated manually when the F&O listed stocks are updated.
Who to use?
Highly beneficial for Day Traders, it can be used for Swing and Positions as well.
What timeframe to use?
• Any timeframe.
• The highlighted levels in Red and Green will not show correct levels in 1 minute timeframe.
• 5min is recommended for Day Traders.
When to use?
• Wait for proper swing to form.
• Recommended to avoid 1st 1 hour or market open, that is 9.15am to 10.15 or 10.30am.
• Within this time a proper swing will be formed.
How to use?
Entry
• Enter when the Price reach closer to the Blue line.
• Enter Long when the Price takes a pullback or breakout at the Red lines.
Exit
• Exit position when the Price reach closer to the Red lines in Long positions.
What are the Lines?
Gray Lines:
• Every lines with price labels are the Strike Prices in the Option Chain from NSE website.
• Price moves from 1 Strike Price level to another.
• The dashed lines are average levels of 2 Strike Prices.
Red & Green Lines:
• The Red and Green Lines will appear only after the first 1 hour.
• The levels are calculated based on the 1st 1 hour.
• Red Lines are important Resistance levels, these are strong Bearish reversal points. It is also a breakout level, this need to be figured out from the past levels, trend, percentage change and consolidation.
• Green Lines are important Support levels, these are strong Bullish reversal points. It is also a breakdown level, this need to be figured out from the past levels, trend, percentage change and consolidation.
What are the Labels?
• First Number: Price of that level.
• Numbers in (): Percentage change and Change of price from LTP(Last Traded Price) to that Level.
How to use?
Entry:
• Enter when price is closer to the Red or Green lines.
• Enter after considering previous Swing and Trend.
• Note the 50% of previous Swing.
• Enter Short when price reverse from each level.
• If 50% of swing and the pivot level is closer it can be a good entry.
Exit:
• Use the logic of Entry, each level can be a target.
• Exit when price is closer to the Red or Green lines.
Indicator Menu
Source
• Custom: Enter the price manually after choosing the Source as Custom to show the Pivots at that price.
• LTP: Pivot is calculated based on Last Traded Price.
• Day Open: Pivot is calculated based on current day opening price.
• PD Close: Pivot is calculated based on previous day closing price.
• PD HL2: Pivot is calculated based on previous day average of High and Low.
• PD HLC3: Pivot is calculated based on previous day average of High, Low and Close.
"Time (IST) (Vertical)"
• This is a marker of every 1 hour.
• Usually major price movement happen between previous day last 1 hour (2:15 pm) to today first 1 hour (10:15 pm).
• Two swings can happen between first 2 hour of current day.
• At the end of the day last 1 hour from 2.15 pm another important movement will happen.
• Usually rest of the time won't show any interesting movement.
To the Users
• Certain symbols may show the levels as a single line. For such symbols choose a different Source or Timeframe from the indicator menu.
• Please inform if any of the Symbol's price levels don't react to the pivots, include the Symbol a well.
• Also inform if you notice any wrong values, errors or abnormal behavior in the indicator.
• Feel free to suggest or adding new features and options.
General Tips
• It is good if Stock trend is same as that of NIFTY trend.
• Lots of indicators creates lots of confusion.
• Keep the chart simple and clean.
• Buy Low and Sell High.
• Master averages or 50%.
• Previous Swing High and Swing Low are crucial.
[Pt] Premarket Breakout StrategyThis is a 1 trade per day strategy for trading SPY or QQQ index. By default, this is designed for 1 min time frame. This was an experimental script that seems to be profitable at the time of publication.
How it works:
Pre-market high and low is defined per trading day between 9:00 to 9:30 EST.
Then we looking for the first breakout on either PM high or PM low.
- Breakout high = long trade
- Breakout low = short trade
If long trade, we wait until Stochastic RSI D signal line to hit a lower threshold (18 by default). Then we enter long when K crosses above D line.
If short trade, we wait until Stochastic RSI D signal line to hit an upper threshold (82 by default). Then we enter short when K crosses below D line.
Stop loss for long
- set to PM low if entry is above PM high + %ATR buffer
- or set to PM range + %ATR buffer
Stop loss for short
- set to PM high if entry is below PM low + %ATR buffer
- or set to PM range + %ATR buffer
Profit target is set to 2x the risk by default.
*Note: Different Stochastic RSI lengths should be used if trading 5 min time frame. See tooltip.
Happy trading~~!
Relative Volume Force IndexThis indicator can anticipate the market movements. Its posible because it calculates how much force (volume) it's necessary to move the price up or down. If it's necessary a lot of volume to move the price a little it's a reversion signal, but if a little volume could change the price whit elevate volatility, it's signal of reversion too. The indicator plots red if the market is down, and green if it's up, the size and the color of the bars cand demonstrate the movement relative force. Does it by the configurable averages. Not works well whit poor liquidity.
Nasdaq or US Composite Total VolumeBecause no NASDAQ composite index or NYSE composite index provide data volume, this script intends to use the NASDAQ Composite total volume index, index ticker : TVOLQ, or the NYSE Composite total volume index, index ticker : TVOL, as a classical volume indicator on chart.
How tu use : in the input tab choose youe prefered SMA lenght and the volume' index ticker you want to display. TVOLQ for the NASDAQ Composite total volume or TVOL for the NYSE Composite total volume.
On chart, choose to display the indicator in a new pane.
Double RSI FilterI've seen several youtubers using 2 RSI's on top of one another to filter trades for their strategies. I figured I would just code it up as an all-in-one indicator for people who have the basic package. This way they have an extra slot for another indicator if they need one and also for convenience.
Longs only when RSI 1 is above RSI 2 and shorts only when opposite. The arrows show where crosses of the RSI's occur.
Let me know if there is something else like this where it would just be very convenient to have 2 indicators on one window or other such things and I'll see if I can do something for you guys in my spare time. I'm just an amateur coder, but learning as I do more of these for people.
Thank you!
Hope this helps someone! :)
Index Reversal Range with Volatility Index or VIXWhat is the Indicator?
• The indicator is a visualization of maximum price in which the respective index can go up to in comparison with it's Volatility Index or VIX.
Who to use?
• Intraday
• Swing
• Position
• Long term Investors
• Futures
• Options
• Portfolio Managers
• Mutual Fund Managers
• Index Traders
• Volatility based Traders
• Long term Investors and Options Traders gets the maximum benefit
What timeframe to use?
• 1 Year: Position & Investors
• 6 Months: Position & Investors
• 3 Months: Swing & Position
• 1 Month: Swing & Position
• 1 Week: Swing
• 1 Day: Swing
• 1 Hour: Intraday & Swing
What are Upper and Lower lines?
• Upper Line: If the index price reach closer to the Upper line there is a high chance of reversal to Bearish trend.
• Lower Line: If the index price reach closer to the Lower line there is a high chance of reversal to Bullish trend.
• This need to be confirmed with multiple levels like Daily, Weekly, Monthly etc.
How to use?
• If the price reach closer to that level there is a high chance of reversal from the current trend.
• To identify the reversal zone of the index.
• To identify the trend.
• Option Traders can Sell a Call or Put Option from that level.
• Long term Investors, Position or Swing traders can plan for a Long entry.
• Intraday traders can use lower timeframes to do the same.
Indicator Menu
• Input VIX: Identify the VIX Symbol of your Index and type it in the box.
• For example for NIFTY Index chart type INDIAVIX in the box.
• Choose multiple timeframes according to your convenience.
How to turn on indicator Name and Value labels?
• Right side of the screen >
• Right click on the Price scale >
• Labels > Indicators and financial name labels, Indicators and financial value labels
Further Reading:
• Various videos and reading materials are available about this method.
ICT Index Futures Session LinesICT Index Futures Session Lines
Description:
The script is based on one of ICT's concepts on trading Index Futures. The script lays out the daily range from an intraday basis.
Range:
00:00 - New York Midnight
08:30 – New York Open (News events come out)
12:00/13:00 - New York Lunch (No trade time period)
13:30 - (Algorithm)
16:30 - Close
* The open, high and low lines are plotted from 00:00 to 08:30
How To Use:
You will need to check the daily bias. Prior to 8:30 you are to look for previous swing points where liquidity may exist. During the open you want to see if a high or low is taken out, and then wait for an energetic break/displacement for a potential FVG/imbalance retracement entry.
Strategy is for LTF (1 to 15m)
Default time zone is set to America/New_York (UTC New York), so lines will be plotted correctly regardless of user’s local UTC chart setting.
Stochastic RSI HeatmapStochastic RSI presented as a heatmap starting from the oversold (20) / overbought (80) levels respectively. The more oversold / overbought the price, the more intense the color (blue / fuchsia).
Comparative Relative Strength for Crypto (USDT/USD)Comparative Relative Strength for Crypto (USDT/USD)
An adaption of the indicator as published by © bharatTrader->
Please visit the link for details as published by the original coder.
Configured for Crypto by presetting (per filter) for CIX100 usage - either in USDT (Kucoin) or USD (Capitolcom)
world stage index ver02This is an indicator that expresses the ratio of "stage1" and "stage4" of world index.
40 symbols are as follows
("TVC:SHCOMP" is revised to "SSE:000001")
(JAPAN, US, EUROPE, and CANADA)
OSE:NK2251!, DJ:DJI , NASDAQ:IXIC, SP:SPX , XETR:DAX, TVC:CAC40 , TVC:UKX, TSX:TSX
(ASIA)
SSE:000001, SZSE:399001, TVC:HSI, TWSE:TAIEX, BSE:SENSEX , OANDA:SG30SGD, INDEX:KSI, SET:SET
(EUROPE)
INDEX:SX5E, INDEX:FTSEMIB, SIX:SMI , BME:IBC, EURONEXT:BEL20, TVC:AEX, OMXCOP:OMXC25, XETR:0Q5X
(Pacific Ocean)
ASX:XJO, TVC:NZ50G, IDX:COMPOSITE, FTSEMYX:FBMKLCI, BMFBOVESPA:IBOV, BMV:ME , BVL:SPBLPGPT, BYMA:IMV
(Eastern Europe & Middle East)
MOEX:IMOEX, GPW:WIG20, OMXHEX:OMXH25, OMXSTO:OMXS30, DFM:DFMGI, TADAWUL:TASI, OSE:GNRI, EGX:EGX30
The criteria are as follows:
EMA5≧EMA20≧EMA40 : Stage1
EMA5≦EMA20≦EMA40 : Stage4
A.The sum of Stage1 was multiplied by 2.5 and drawn on a scale of 0 to 100, with yellow area
B.The Sum of Stage4 was multiplied by 2.5 and drawn on a scale of 0 to 100, with blue area.
C. The ratio of A/B was multiplied by 2.5 and drawn on a scale of 0 to 100, with red lines.
This idea is from Kojirou Kousi.
40 symbols of this script are partially different from Kojiro kousi's idea.
But he said the difference isn't matter.
tradingview社の上海総合指数の銘柄コード変更に合わせて、"TVC:SHCOMP" を "SSE:000001"に改訂しました。
「小次郎講師指数」に着想を得た、世界40カ国の株価指数stage状態です。
参考文献は、小次郎講師著書「世界一わかりやすい投資の勝ち方」です。
小次郎講師とは一部異なるシンボルを採用していますが、
多少の違いは余り大した問題では無いと御本人から教わった事があります。
先進国に関してはおそらくほとんど同じだと思います。
stage1の合計の%を黄色、stage4の合計の%を青色、stage1の合計/stage4の合計の%を赤で表示しています。
雰囲気で分かればいいので、正確な数字までは表示しませんでした。
個人的には現状分析以外にも、プラクティス時に世界情勢を把握するのに重宝しています。
Screener for 40+ instrumentsAs you probably know in TradingView there is a limit of 40 instruments in one custom screener.
I created a script that will allow you to scan more symbols.
The idea of it is pretty simple. You have to add a screener a few times on your screen with a different set of symbols. Then select column width (as % of your chart width) and # of the screener right to left.
Script will plot #1 screener next to the right border. For #2 and all next tables, the script will compute the needed offset and will draw it on the left. This way it will look like one table and not a few separate indicators.
I created a script with an RSI screener, but you can create more complicated examples with it.
Off course, that's not a silver bullet solution but might work for some of you.
Disclaimer
Please remember that past performance may not be indicative of future results.
Due to various factors, including changing market conditions, the strategy may no longer perform as well as in historical backtesting.
This post and the script don’t provide any financial advice.
Multi-Timeframe RSI GridThe relative strength index (RSI) is a momentum indicator that measures the magnitude of recent price changes to evaluate overbought or oversold conditions. The RSI is normally displayed as an oscillator separately from price and can have a reading from 0 to 100. This indicator displays the current RSI levels at up to 6 timeframes (of your choosing) in a grid. If the RSI levels reach overbought (above 70) or oversold (below 30) conditions, it changes the color to help you see that RSI has reached extreme levels. Note that in TradingView, when the chart is on a higher timeframe, the lower timeframe RSI levels don't calculate properly. If those conditions are met, this indicator will hide those values in the grid. If none of your selected values are available, it hides the table completely. There are configuration options, like:
Position the grid in any corner of the screen
Style customization (color, size)
Customize RSI length
Nifty / Banknifty Dashboard by RiTzNifty / Banknifty Dashboard :
Shows Values of different Indicators on current Timeframe for the selected Index & it's main constituents according to weightage in index.
customized for Nifty & Banknifty (You can customize it according to your needs for the markets/indexes you trade in)
Interpretation :-
VWAP : if LTP is trading above VWAP then Bullish else if LTP is trading below VWAP then Bearish.
ST(21,1) : if LTP is trading above Supertrend (21,1) then Bullish , else if LTP is trading below Supertrend (21,1) then Bearish.
ST(14,2) : if LTP is trading above Supertrend (14,2) then Bullish , else if LTP is trading below Supertrend (14,2) then Bearish.
ST(10,3) : if LTP is trading above Supertrend (10,3) then Bullish , else if LTP is trading below Supertrend (10,3) then Bearish.
RSI(14) : Shows value of RSI (14) for the current timeframe.
ADX : if ADX is > 75 and DI+ > DI- then "Bullish ++".
if ADX is < 75 but >50 and DI+ > DI- then "Bullish +".
if ADX is < 50 but > 25 and DI+ > DI- then "Bullish".
if ADX is above 75 and DI- > DI+ then "Bearish ++".
if ADX is < 75 but > 50 and DI- > DI+ then "Bearish+".
if ADX is < 50 but > 25 and DI- > DI+ then "Bearish".
if ADX is < 25 then "Neutral".
MACD : if MACD line is above Signal Line then "Bullish", else if MACD line is below Signal Line then "Bearish".
PDH-PDL : "< PDH > PDL" means LTP is trading between Previous Days High(PDH) & Previous Days Low(PDL) which indicates Rangebound-ness.
"> PDH" means LTP is trading above Previous Days High(PDH) which indicates Bullish-ness.
"< PDL" means LTP is trading below Previous Days Low(PDL) which indicates Bearish-ness.
Alligator : If Lips > Teeth > Jaw then Bullish.
If Lips < Teeth < Jaw then Bearish.
If Lips > Teeth and Teeth < Jaw then Neutral/Sleeping.
If Lips < Teeth and Teeth > Jaw then Neutral/Sleeping.
Settings :
Style settings :-
Dashboard Location: Location of the dashboard on the chart
Dashboard Size: Size of the dashboard on the chart
Bullish Cell Color: Select the color of cell whose value is showing Bullish-ness.
Bearish Cell Color: Select the color of cell whose value is showing Bearish-ness.
Neutral Cell Color: Select the color of cell whose value is showing Rangebound-ness.
Cell Transparency: Select Transparency of cell.
Columns Settings :-
You can select which Indicators values should be displayed/hidden.
Rows Settings :-
You can select which Stocks/Symbols values should be displayed/hidden.
Symbol Settings :-
Here you can select the Index & Stocks/Symbols
Dashboard for Index : select Nifty/Banknifty
if you select Nifty then Nifty spot, Nifty current Futures and the stocks with most weightage in Nifty index will be displayed on the Dashboard/Table.
if you select Banknifty then Banknifty spot, Banknifty current Futures and the stocks with most weightage in Banknifty index will be displayed on the Dashboard/Table.
You can Customise it according to your needs, you can choose any Symbols you want to use.
Note :- This is inspired from "RankDelta" by AsitPati and "Nifty and Bank Nifty Dashboard v2" by cvsk123 (Both these scripts are closed source!)
I'm not a pro Developer/Coder , so if there are any mistakes or any suggestions for improvements in the code then do let me know!
FX Mini-Day/Index Dividers V2This is a combination of the Mini-Day Separator Indicator, timings based off the research by Tom Henstridge/@LiquiditySniper and additional Index KZ delineations, based on ICT's 2022 Youtube Mentorship.
*It borrows some minor code from Enricoamato997 . Credit where it is due!
This is a joint effort by myself, @vbwilkes / Offseason Vince and @Tom_FOREX / TraderTom on the Index/Index Future portion.
Index Future Example
Forex Example
TPTR_Dynamic_Ratio_CorrelatorThe script provides a way to compute ratio between two indexes (or stocks) of your choice, and paints a "up-arrow" below the first candle where and when the value of the ratio exceeds your threshold of choice.
It also creates a table summarizing the value of your securities, and the value of the ratio below.
The script will also alert you with a message (automatically) when the ratio of your security_1 and security_2 exceeds the ratio.
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
Fear and Greed Index CandlesticksThis colours the candlesticks based on my 'Fear and Greed Index'.
All calculations are explained in the code.
The index is mainly based upon the components of the popular fear and greed index website. I've annotated the components in the code for you to look at.
If you're interested, you can replace the final variable 'Total' (within the 'barcolor' function at the very end) with any of the final outputs of the subcomponents to see the results of that single part.
Red = Greed
Green = Fear
Enjoy!
VolatilityDivergenceRedGreen by STTAName: VolatilityDivergenceRedGreen by STTA
- Underlying and implied volatiliy normally show negative correlated behavior (price rises, vola falls and vice versa)
- This study shows symbols in on candles in chart where Undelying and corresponding vola index show same bahvior for 1,2 or 3 consecutive bars. (price rises and vola rises and vice versa)
- This situation is called Vola Divergence. Red, when prices and vola fall; green, when price and vola rise
- This information can be used to detect possible end of Up/Down-Swings.
- User can configure if rising or falling or both price movements shall be displayed.
- This study can be used with root symbols, which provide corresponding volatility indices.
- supported Root Symbols: SPX, NDQ, DJI, RUT, CL, XLE, GC, SI, EUR, HSI, FXI, EWZ, AMZN, AAPL, GS, GOOG, IBM, DEU40
- in all other symbols, no symbols are displayed.
Inputs
- underlying displayed in chart
Settings/Parameter
- each Divergence can be switched off/on separately
- output of each displayed symbol can be configured
Outputs
- RedDiv1: first bar with rising price and rising volatility index
- GreenDiv1: first bar with falling price and falling volatility index
- RedDiv2: second bar in a row with rising price and rising volatility index
- GreenDiv2: second bar with falling price and falling volatility index
- RedDiv3: third bar in a row with rising price and rising volatility index
- GreenDiv3: third bar in a row with falling price and falling volatility index
RSI Levels, Multi-TimeframeThe relative strength index (RSI) is a momentum indicator that measures the magnitude of recent price changes to evaluate overbought or oversold conditions. RSI is normally displayed as an oscillator separately from price and can have a reading from 0 to 100. This indicator takes the RSI and plots the 30 & 70 levels onto the price chart so you can see when price is going to meet the 30 or 70 levels. The reason the 30 & 70 levels are important is because many traders (and bots) use those as signals to buy (at 30 RSI) or sell (at 70 RSI). Additionally, this indicator allows you to display not just the RSI levels of your currently viewed timeframe on the chart, but also shows the RSI levels of up to 6 different timeframes on the same chart. This allows you to quickly see if multiple RSI levels are aligning across different timelines, which is an even stronger indication that price is going to change direction when it meets those levels on the chart. There are a lot of nice configuration options, like:
Style customization (color, thickness, size)
Labels on the chart so you can tell which plots are the RSI levels
Optionally display the plot as a horizontal line if all you care about is the RSI level right now
Toggle overbought (RSI 70) or oversold (RSI 30) on/off completely
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
Fibonaci Opening Range Candle
Fibonacci Opening Range it is 50% and 0.61% of 5 min or 30min or 1 hour opening candle
search buying opportunities below 0.61
and selling opportunities above 0.50
Also acts as good support and resistance in intraday
BEST RESULTS IN INDEXES
Thanks & Best Regards
Marella Ganesh
