Breadth Indicator : RVC-BNifty-Adv-Dec-Line by rvc8280

oscillator trendanalysis banknifty bankniftytrend breadth tools

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

Release Notes:

Updated with AUBANK information and correct weightage of Bank Nifty index

Protected script

This script is published closed-source but 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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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

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