We have seen many indicators for trading, But I was looking for indicator which can be use for long term investment, which gives less trade and yet result in profit.
1) We know trend is our friend. And best way to be in trend is to follow trend indicator. I have picked to find out trend.
2) It’s difficult to handle of stocks and hence I choose to make indicator which works only on Index. Especially Nifty , BankNifty and Nifty Junior.
Logic is simple
when level > 55
when level < 45
In this indicator you can change look back period as per your convenience. Also, you can check back testing output by selecting “Back Testing” option.
General guideline to use this study
1) Use only on Nifty , Bank Nifty , Junior Nifty
2) ‘Daily’ period gives good result.
Please note this study may not be useful for Trading purpose. Kindly request to check related others study on Trading View.