rvc8280

Breadth Indicator : RVC-BNifty-Adv-Dec-Line

Breadth Indicators
Summary : Script calculates Advance and Declain value based on weightage of each Bank share in BankNifty Index
Bank NIfty is not an asset and it does not have value.
It is composition based on multiple bank stocks with different weightage.
This tool display the indicator based on "Number of Stocks Moving on UP TICK" and "Number of Stocks Moving on DOWN TICK"

Currently this calculation is based on 12 stocks based on their weightage.
Axis Bank , Bank of Baroda
Federal Bank, HDFC Bank
ICICI Bank, IDFC Bank Ltd.
IndusInd Bank, Kotak Mahindra Bank
Punjab National Bank , RBL Bank
State Bank of India ( SBI ), Yes Bank
Release Notes: Updated the Script with correct % of BankIndex based on https://www.niftyindices.com/indices/equ...
Release Notes: Updated with AUBANK information and correct weightage of Bank Nifty index
Protected script
This script is published closed-source and you may use it freely. You can favorite it to use it on a chart. You cannot view or modify its source code.
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Comments

Great Indicator..
I was searching for indicator like the ADD for NYSE, this is as close as I could get.
If possible do make an indicator for banknifty, nifty 500 or nifty 50 like the ADD for NYSE.
Thank you
Reply
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