MaestroTrader

BankNifty Multi-TimeFrames Price Panel [MaestroTrader]

█ OVERVIEW

Price Panel provides Nifty / BankNifty Index comprehensive Price Insights on different time intervals. It helps to determine the trend of Index using top Index Heavy Weights along with Dow, India VIX & Index Spot Prices. It helps to determine the price behavior of the underlying Index/stock to make informed decisions while trading.

█ FEATURES

a) Displays Price in Multi Time Frames for Multi time frame analysis
b) Displays Weighted Securities price for Weighted INDEX price analysis.
c) Displays INDIA VIX and DOW for Combined INDIX VOLATALITY Analysis

█ MUTLI TIME FRAME ANALYSIS

How to use Multiple time frame analysis?
Multiple time frame analysis follows a top-down approach when trading and allows traders to gauge the longer-term trend while spotting ideal entries on a smaller time frame. Traders can then conduct technical analysis using multiple time frames to confirm or reject their trading bias.
Multiple time frame analysis , is the process of viewing the same symbols under different time frames. Usually, the larger time frame is used to establish a longer-term trend, while a shorter time frame is used to spot ideal entries into the market.
Let’s Say 75 & 15 TF’s Trend is up, then shorter time 5M is used to spot ideal entries on long side.

█ WEIGHTED INDEXS PRICE ANALYSIS

How to use Weighted Index Price Movement in Multi timeframes?
The index future trading price is based on the trading prices of the individual securities (stocks) that comprise the index basket. In other words, the stocks with higher weights will have more impact on the movement of the index. Price Panel provides the insights of these heavy weight stock price movement in different time frames, that can help you confirm or reject your trading bias.

HDFC Bank (28% Weight) will have more impact on the BankNifty Movement. By looking the top 4 bank's price movement in different timeframes, you can derive the BankNifty price trend.

█ VOLATALITY ANALYSIS

India VIX is a short form for India Volatility Index. It is the volatility index that measures the market’s expectation of volatility over the near term.
A lower VIX level usually implies that the market is confident about the movement and is expecting lower volatility and a stable range.
A higher VIX level usually signals high volatility and lower trader confidence about the current range of the market. A major directional move can be expected in the market and a quick broadening of range can be expected.

█ SETTINGS

• Time Frame Settings: Configure Time Frames 5 Min, 15 Min, 75 Min
• Table Settings: Configure Table Styles- Position- Font Color
• Symbol Settings: Configure Securities. Toggle (on/Off) Securities display.
• Index Settings: Display Bank Nifty or Nifty Heavy Weights.

█ PANEL DISPLAY VARIATIONS

BANK NIFTY VIEW



NIFTY VIEW


WITHOUT STOCKS - ONLY INDEX, VIX , DOW



█ THANKS

Thanks to Pine Team for this new great feature tables & Thanks to PineCoders for the `f_strRightOf` function.

█ DISCLIAMER

Indicator is built for educational purposes. Test it before use.


Hope - These features help you get quick insights of the price movement to take informed trades.
You are free to use the code, please share the credit for reuse.

Happy Trading !!
Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

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Comments

HI Maestro great work pine script allows up to 40 tickers right . pls add option for multiple ticks
thanks in advance
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Hi, How to add Axisbank to BNF & BhartiArtl to NF in this list
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this is lit brother , thanks for this
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this is awesome . thanks a lot
Reply
@intrdz, hi, how to analyse this?
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amazing & VWAP ?
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